Facebook makes its first investment in an Indian startup; What the future holds for Grofers

Daily Capsule| 14th June Hello In 2017, Gurugram-based online grocery platform Grofers raised a paltry $15 million. In 2018, it raised $62 million in its Series E round from SoftBank and Tiger Global Management at a valuation of around $310 million. Then, a major turnaround happened. A few weeks ago, Grofers announced that it had raised around $220 million in its Series F funding round at a valuation of around $800 million, setting the company to be India’s next unicorn. CEO and Co-founder Albinder Dhindsa says that solely by focussing on its current business model without an offline push or faster deliveries and even without expanding to newer markets, the company is looking to double its revenue to Rs 5,000 crore ($720 million) this fiscal. [In an interaction with YourStory, Albinder reveals how the company achieved its current valuation and its future plans.]( Cheers, Team YourStory Stories you shouldn't miss [Facebook debuts startup investment in India with Meesho]( Meesho, a Bengaluru-based social commerce platform that helps resellers and emerging brands build businesses using social media, has bagged funding of undisclosed amount from social network giant Facebook. This is Facebook's first investment in an India-based startup and is a strong demonstration of the company's commitment to the country's vibrant internet ecosystem. [Now you can deliver packages for Amazon in your spare time]( Amazon India is launching ‘Amazon Flex’ – a new delivery programme for part-time delivery personnel looking for extra income and flexible timing. It targets housewives, security guards, college students, and anyone who has spare time to make deliveries in their areas and on days of their choice. They will be paid Rs 120-140 per hour. [Blockchain startup Intain wants to help banks and institutions avoid financial meltdowns]( [Intain wants to help banks and institutions avoid financial meltdowns]( [India stands at fourth place in global unicorn ranking]( India occupies the fourth position globally in terms of the number of 'unicorns' present in the country with the US taking the top spot, according to the latest report by CB Insights. The report added there are 361 private companies around the world valued at over $1 billion and India has 16 of them taking four percent share. [Why Wedding Wishlist believes wedding gift registry is not just for Deepika Padukone and Priyanka Chopra]( [Why this Chennai startup believes wedding gift registry is not just for Celebs]( [From drab to glam: The evolution of the social sector in India]( Over the past few decades, individuals across India have been stepping up to work in the social sector through for-profit social enterprises and NGOs. In fact, India is now the 14th best country to be a social entrepreneur. What are the factors fuelling this growth and how can the unorganised social sector become more mainstream? [Plan the perfect Father’s Day surprise with a little help from these startups]( Fathers are the unsung heroes of the world of parenting. How about we change the status quo? This Father’s Day, let them know how much they mean to you with specially curated surprises and experiences, courtesy of these startups. [Uber partners with Bajaj Auto to launch quadricycle 'Qute']( Cab aggregator Uber has announced the launch of its new category, a quadricycle, known as Bajaj Qute on UberXS in partnership with Bajaj Auto. It is a driver plus three passenger quadricycle, which is a four-wheeled motor vehicle that is smaller and lighter than a passenger car. The UberXS is a brand-new category in the India South Asia region. Apart from giving them access to the robust Asian market and access to a new funding ecosystem, the K-Startup Grand Challenge 2018 gave content and cataloguing solutions provider Text Mercato the confidence that their solution could successfully work across geographical barriers. [Read more]( Salesforce, in association with YourStory, is organising a meetup on "AI and the Future of Customer Experience" in Bangalore on 18 June. On the occasion experts will provide you answers to all these and more questions like these. This is also a great opportunity to network and interact with like-minded folks and get some valuable inputs. [Hurry, register today]( Follow us on social media for more frequent updates [Facebook]( [Twitter]( [Instagram]( [Linkedin]( -- [Click Here]( to unsubscribe from this newsletter.