MAM
Major League Cricket raises $120 mn funding, Microsoft CEO Satya Nadella among lead investors
MUMBAI: Microsoft CEO Satya Nadella is the leading investor in the $44 million Series A and A1 fundraising round by New York-based Major League Cricket (MLC), a T20 competition featuring six franchises that have been sanctioned by USA Cricket. The league is targeted to launch next year.
With an additional commitment of $76 million in further fundraising over the next 12 months in place, MLC plans to deploy more than $120 million to launch the country’s first-ever professional Twenty20 cricket league and herald a new era for the world’s second most popular sport in the US, according to a press statement issued by MLC on Wednesday.
“The significant funding committed by an outstanding group of investors will allow Major League Cricket to build first-class facilities and accelerate the sport’s development across the country, bringing world-class professional cricket to the world’s largest sports market,” MLC co-founders Sameer Mehta and Vijay Srinivasan said in a joint statement.
“This investor group comprises leading business executives and successful tech entrepreneurs who have led some of the world’s most prominent companies. They bring tremendous experience and expertise in support of MLC’s plans to launch a transformative Twenty20 league and establish America as one of the world’s leading homes for international cricket events,” it further added.
The other investors for MLC include the likes of Adobe CEO Shantanu Narayen, Madrona Venture Group managing director Soma Somasegar, founding partners at Milliways Ventures and Rocketship VC Anand Rajaraman and Venky Harinarayan, chairman of Infinite Computer Solutions Zyter Sanjay Govi and Perot Jain managing partner Anurag Jain, among others.
Brands
Eternal pumps Rs 450 crore into Blinkit as quick commerce race heats up
Fresh funds fuel Blinkit’s expansion as rivals Zepto and Instamart scale up
MUMBAI: Eternal has infused Rs 450 crore, into its quick commerce subsidiary Blinkit, marking its first capital injection into the company in 2026. The funding comes as competition in India’s fast-growing quick commerce market continues to intensify.
According to media reports, the capital infusion was approved by the board through a rights issue, with 2,799 equity shares allotted at an issue price of Rs 16,07,161 per share. The funds are expected to support Blinkit’s expansion, operational expenses and working capital needs as it scales operations across more cities.
The latest investment follows significant funding support from Eternal in 2025. The company invested Rs 500 crore in January, Rs 1,500 crore in February and Rs 600 crore in November, taking the total infusion last year to Rs 2,600 crore. The continued funding highlights Eternal’s focus on strengthening its quick commerce business.
Blinkit’s operations have grown rapidly alongside these investments. In the December quarter of FY25, the company reported revenue of Rs 1,399 crore, up from Rs 644 crore in the same period a year earlier. Gross order value also rose to Rs 7,798 crore during the quarter, reflecting strong demand for rapid delivery services.
However, profitability remains under pressure as the company continues to expand. Blinkit reported an adjusted ebitda loss of Rs 103 crore in the quarter, compared with a loss of Rs 8 crore in the previous quarter.
The funding comes at a time when competition in the quick commerce segment is increasing. Rival startup Zepto raised $450 million in October last year, while Swiggy raised around Rs 10,000 crore in December to strengthen investments in its quick commerce arm Instamart.
Earlier this year, Blinkit CEO Albinder Dhindsa was elevated to group CEO of Eternal, succeeding Deepinder Goyal, reflecting the growing strategic importance of the quick commerce business within the company.
