A new tussle started between the Delhi Lieutenant Governor, VK Saxena and Delhi Chief Minister Arvind Kejriwal over the inauguration of Guru Gobind Singh Indraprasth University in East Delhi.

Delhi education minister, Atishi had announced the inauguration of the university by the Delhi CM which prompted the Delhi LG to issue a statement saying, “Chief Minister Arvind Kejriwal himself was aware of the fact that the L-G was scheduled to inaugurate the campus. In fact, they were also aware that they were supposed to be present in the function as Guest of Honour and distinguished guest, as desired by the L-G and had also consented to it.”

“Moreover, even on the day when Atishi made this claim in a press conference, i.e. 06.06.2023, earlier during the day, the VC of GGSIPU had announced on stage at the Convocation of GGSIPU, where Atishi was present as a Guest of Honour, that the East Campus of the University was scheduled to be inaugurated by the Lt. Governor on 08.06.2023,” it added.  

Reacting to this Delhi education minister, Atishi said that the L-G should not forget that education, higher education and technical education are all transferred subjects.

Even Delhi minister Saurabh Bhardwaj reacted to this, saying that the L-G should focus on inauguration of buildings which come under Police, Land and Public order.

“The construction of this campus started when he (VK Saxena) was not the L-G. Manish Sisodia started this work and our elected government took it further. It is strange now for the L-G to say that he was asked by officials to inaugurate the university campus,” Bhardwaj said.

“At this rate, the L-G could say tomorrow that he would inaugurate Saurabh Bhardwaj’s office. That’s why L-G has kept all officers under his control and wants to keep it going. The CM is the one vested with the moral authority to inaugurate the campus. Such thoughts should not even come to the L-G’s mind,” he added.

Tensions have been rising between the Delhi L-G and Delhi CM for the past few years over various matters. Notably, in May this year a Supreme Court judgement had ruled that the Delhi government had powers over civil services in the Delhi after which the Centre had brought in an ordinance regarding civil services giving more power to the L-G, creating more friction between the two posts.

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Zepto raises $200 million in Series-E funding: Emerges 2023

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Zepto, an online grocery delivery startup, has secured $200 million in its Series-E funding round. This achievement has propelled the company’s valuation to $1.4 billion, positioning it as the inaugural unicorn of 2023.

US-based private markets investment firm StepStone Group has taken the lead in Zepto’s Series-E fundraise. Zepto was established in response to the challenges posed by the pandemic.

This investment also signifies StepStone Group’s debut direct investment in an Indian company. Furthermore, Goodwater Capital, a venture capital firm in California with a focus on consumer-centric ventures, has entered the funding round as a fresh investor. Worth mentioning is the fact that existing backers, including Nexus Venture Partners, Glade Brook Capital, Lachy Groom, and others, have significantly increased their investments in Zepto during this round.

How much did Zepto raise in Series D funding round?

During the year 2022, Zepto successfully raised $200 million through a Series D funding round. This funding initiative was spearheaded by Y Combinator’s Continuity Fund, a tech startup accelerator based in the United States. This round had placed a valuation of $900 million on the rapid commerce company. Established in 2021 by Aadit Palicha and Kaivalya Vohra, who are former students of Stanford University, Zepto is also actively considering a public market debut within the upcoming two to three years. In May of the current year, Zepto made strategic promotions among several crucial executives as part of its preparations leading up to the anticipated listing.

Zepto operates by swiftly delivering a range of more than 6,000 grocery products within a mere 10-minute timeframe. This service is made possible through a distribution network comprising delivery hubs spread across the nation. This business model has garnered the label “quick commerce,” but it has faced scrutiny due to its substantial cash expenditure and the absence of a viable, enduring business framework.

The company has experienced a remarkable 300% year-on-year increase in its sales, and is set to potentially attain the milestone of $1 billion in annualized sales within the upcoming quarters, according to the company’s statement.

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