AgroStar initially started by providing information on call to farmers, getting an initial traction of 100 calls a week.
The VC firm, known for its early bet on ephemeral messaging app Snapchat, will be the first Silicon Valley-based investor to raise a country dedicated fund for India after 2008.
The Mumbai-based startup stores specific information of registered consumers and blocks all transactions on their lost cards.
US-based GrubHub, valued at $2.6 billion, was handling 234,700 orders a day, whereas Foodpanda, India’s largest online food delivery service, handles an estimated 30,000 orders daily.
Milner has backed several other top Indian internet firms including Flipkart, Ola, Housing, Swiggy, Grofers and Practo in his personal capacity or through his investment firm DST Global.
The company behind popular messaging app WeChat has been known as a fairly aggressive investor in startups both in China and overseas.
Why are some of the world’s smartest investors willing to value companies with no revenue and huge losses at billions of dollars? They know they have nothing to lose.
The Chennai-based company is negotiating with private equity major Warburg Pincus and two other investors according to two people privy to developments.
For Ritesh Agarwal, who left home in Odisha as a teenager to seek his fortune, carrying all his possessions wherever he went was second nature.
SoftBank has picked online aggregator of budget hotels OYO Rooms for its latest investment in India, by leading a Rs 630-crore funding round.
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