South Asian ride-hailing giant Grab is soldiering on with what seems like a never-ending late stage fundraising effort. Its latest reported backer is the SoftBank Vision Fund, which is said to be preparing an investment of $1 billion or more. That’s in addition to the $2.65 billion in known financing that Grab pulled in as part of its latest Series H round.
The contrast between downcast public markets and effervescent private ones was on full display this week, with a deluge of supergiant rounds rolling out alongside steep dives for major indexes. But some industry insiders see the stock market downturn already creating more bearishness in the startup funding space.
Europe’s takeout scene is consolidating. Food delivery service Delivery Hero announced that it will be selling operations in its home market of Germany Dutch rival Takeaway.com for about $1.1 billion.
Meanwhile, India’s food delivery sector continues to heat up. Bangalore-based Swiggy, a leading player in the space, scored a $1 billion round led by Naspers and joined by Tencent. The financing sets a reported valuation of $3.3 billion.
Social game publisher Zynga is shelling out $700 million to acquire Helsinki-based Small Giant Games, developer of the popular mobile title Empires & Puzzles.
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