🇮🇳 Roundup: Zomato reportedly inks merger deal with Blinkit

Startups in India, including Licious, Upscalio, inFeedo, and Neend, raised at least US$177 million in funding today from international and local investors.

Here’s a snapshot of the fundraising:

Here’s some important tech news from India today:

Zomato reportedly inks merger deal with Blinkit

Zomato and quick commerce platform Blinkit have reportedly signed an all-stock merger deal. The online food delivery firm may soon reach the Competition Commission of India for a go-ahead.

The development comes after Blinkit reportedly laid off 5% of its total staff, which is about 1,600.

Zomato is reportedly extending a loan of between US$75 million and US$100 million to Blinkit as the latter deals with a cash crunch and rising competition, among other issues.

Fintech unicorn BharatPe enters gold loan segment

The fintech firm has partnered with non-banking financial companies (NBFCs) to provide gold loans of up to 2 million rupees (US$26,000).

The company has already rolled out gold loan services for its merchants in Delhi-National Capital Region, Bengaluru, and Hyderabad. It plans to extend the service to 20 cities by the 2022-end. The firm is targeting disbursals worth 5 billion rupees (US$65 million) by the end of this year.

BharatPe’s new service comes shortly after the company stripped Ashneer Grover of the founder status. Grover and his family are accused of misappropriating the company’s funds.

FarMart acquihires grocery logistics platform

FarMart, a SaaS-based B2B food supply platform, has acquihired fruits and vegetables logistics platform, Subjimandi for an undisclosed sum.

Set up in 2020 by VS Vivek, Subjimandi has a presence across the states of Maharashtra, Andhra Pradesh, and Telangana. The platform aims to address logistics and supply chain-related challenges for sellers.