Tushar Goenka

The startup also lacked a "strong next idea", while the team's conviction to keep scaling the business had faded, Bidawatka wrote in his note to investors, seen by Moneycontrol.

"That (Delhivery's) statement has to do with more of a short-term gain with an eye on the stock price, and probably a little bit of, what I would call, monopolistic ambitions," Saha said in an interview to Moneycontrol.

That (Delhivery's) statement has to do with more of a short-term gain with an eye on the stock price, and probably a little bit of, what I would call, monopolistic ambitions, Saha said in an interview to Moneycontrol.

The transaction is likely to happen as part of a larger block deal expected around the end of this month when the six-month lock-in expiry ends. The deal may be executed at a discount of 2-4 percent from current market price (CMP), sources told Moneycontrol.

Fund IX will back seed and Series A startups, while the firm's $400-million Holdings vehicle targets late-stage category leaders, taking Elevation's deployable capital to $900 million, partners at the fund told Moneycontrol in an interview.

Despite the intense competition and heavy cash burn, Elevation believes instant home services could become at least as large as India's food delivery market. Arora, in an interview to Moneycontrol, pegged the opportunity at 20-25 million monthly transacting users over the next three to five years.

Despite the intense competition and heavy cash burn, Elevation believes instant home services could become at least as large as India's food delivery market. Arora, in an interview to Moneycontrol, pegged the opportunity at 20-25 million monthly transacting users over the next three to five years.

Moneycontrol first reported on Emergent's fundraising plans in April and on Amazon's interest in June. The startup has ultimately chosen to close a smaller round for now, as per CEO Mukund Jha who said he has prioritised speed of closure over a larger raise.

Deccan AI, AI se, Higgsfield, Rio AI, Sing One Song and BaseTheseis Labs are in talks to raise fresh capital from investors including Claypond Capital, Accel, Arkam Ventures, Binny Bansal, Albinder Dhindsa, Ankit Nagori, Raveen Sastry and others, sources told Moneycontrol.

Between Norges and Motilal, the two investors are likely to cover about 40-45 percent of Zepto’s anchor book, sources told Moneycontrol. Zepto is valued at $4.3 billion pre-money and $5.1 billion post-money.