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Higher interest rates have dried up flow of venture capital as consumers return to in-store shopping
Istanbul-based grocery app company, which had been valued at nearly $12bn in early 2022, raises $500mn
Discussions come as consolidation accelerates in one of the pandemic’s hottest tech sectors
Combined group worth $10bn represents a fall in valuation as investors turn against lossmaking tech start-ups
Fewer than half the pandemic-era start-ups in the sector are still alive, with Gorillas the latest to come under threat
Start-ups hope to close deal next month but due diligence is still at an early stage
Turkish app’s acquisition of UK-based start-up comes as sector enters phase of consolidation
Instant grocery delivery start-up sues EML after allegedly finding adverts for its rivals rather than its own on the side of London taxis
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