$1 billion+ club round-up: A new entrant in the unicorn club, Policybazaar is all set to go public, and more

An overview of what's happening in Indian's unicorn space.

There’s a new entrant in the unicorn club

BlackBuck – an online logistics company – announced on Thursday (July 22) that it had raised $67 million led by Tribe Capital, IFC’s Emerging Asia Fund and Vostok Emerging Finance. With the latest infusion, the startup’s valuation reached $1.02 billion, making it a part of the coveted unicorn club.

The firm is India’s 16th year of 2021.

The new financing round, the company’s CEO and co-founder Rajesh Yabaji said, gives BlackBuck “more firepower to invest in fundamentally hard trucking problems and continue deepening our reach and impact.”

Zomato’s market capital crosses Rs1 trillion

The food tech unicorn’s shares started listing on the National Stock Exchange on Friday (July 23) at Rs 116/share. This is at a 53% premium against its issue price of Rs 76/share.

The company’s market cap crossed Rs1 trillion and it became among the top 50 most valuable companies on the BSE. 

One more company is all set to go public

PB Fintech, the parent company of the online insurance aggregator, Policybazaar, has approved a resolution to raise up to $870 million via an initial public offering.

The IPO is expected to be a mix of a fresh issue of shares and an offer for sale.

Swiggy raises $1.25 billion in funding

The food delivery platform’s Series J round was led by SoftBank Vision Fund 2 and Prosus. With this round, the startup’s valuation will shoot up to $5.5 billion.

Existing investors such as Accel Partners and Wellington Management participated in the new round.

Amanat Khullar is the Content and Editorial Manager at ADIF.

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