Farm Easy Seeks New Funding at a 90% Valuation Cut

Farm easy once valued at over $5 billion seeks new funding at a 90% valuation cut by Manish Singh. The startup plans to raise new financing through a rights issue that would value the price of its shares at five Indian rupees down from 50 earlier economic times reported citing internal documents. At the proposed terms, if the round materializes, Farm easy will see its valuation plummet to about $500 million to $600 million. It will also become the first major Indian unicorn to raise a down round.