Page 16 - Start- Ups
Startups raised $6.5 bn in Apr-Jun period, 11 new unicorns created: Report
Indian startups received about $6.5 billion in funding in the April-June 2021 quarter, while 11 of them entered the coveted unicorn club, a report by Nasscom-PGA Labs said
 "Startups raised $6.5 bn in Apr-Jun period, 11 new unicorns created: Report")
Zetwerk joins unicorn club after raising $150-million in Series E funding
This is the second fundraise for the Bengaluru-based company in 2021
 "Zetwerk joins unicorn club after raising $150-million in Series E funding")
Used vehicle startup Cars24 to raise $350 mn from SoftBank, others: Report
The fundraising would also include Falcon Edge Capital and value the startup at close to $2 billion, said the person, asking not to be named because the details aren't public
 "Used vehicle startup Cars24 to raise $350 mn from SoftBank, others: Report")
Hashnode raises $6.7 mn in Series A fundraise led by Salesforce Ventures
This funding follows a $2.1 million seed funding round in December 2020.
 "Hashnode raises $6.7 mn in Series A fundraise led by Salesforce Ventures")
Probus Smart Things raises $500,000 led by Unicorn India Ventures
Probus develops integrated hardware and software solutions for utility providers and helps digitise their distribution grid
 "Probus Smart Things raises $500,000 led by Unicorn India Ventures")
Despite IPO rush, unicorns chase global direct listing for higher valuation
Indian laws permit listing on international bourses through indirect listing of equity shares through the American Depository Receipt/Global Depository receipts (ADR/GDR)
 "Despite IPO rush, unicorns chase global direct listing for higher valuation")
Sebi notifies relaxed sweat equity rules for new-age technology firms
Markets regulator Sebi has given relaxations on the quantum of sweat equity that can be issued by new-age technology companies listed on the Innovators Growth Platform
 "Sebi notifies relaxed sweat equity rules for new-age technology firms")
Electric vehicle start-ups hunt for low-cost roads to mass production
A few have found investors willing to hand over billions to fund their journey
 "Electric vehicle start-ups hunt for low-cost roads to mass production")
Rage Coffee raises $5 mn in Series A round led by Sixth Sense Ventures
Rage is disrupting the core instant coffee segment by launching flavored instant coffee (Mocha mint, Irish hazelnut, Dark chocolate, etc) along with products such as roast coffee, and cold brew coffee
5-month-old UpScalio discloses fundraise of $42.5 mn in Series A round
The funding round was led by Presight Capital and an undisclosed global hedge fund, with participation from Heliad Equity Partners, MPGI, 468 Capital and Whiteboard Capital
 "5-month-old UpScalio discloses fundraise of $42.5 mn in Series A round")
National start-up council meet: Translation system, maps on agenda
The proposal is to allow apps with over 20 million users to be able to use this system for their user base
 "National start-up council meet: Translation system, maps on agenda")
LIC, EPFO keen to set up fund for startups, says DPIIT official
LIC and EPFO have expressed their willingness to set up funds for startups to help budding entrepreneurs, a senior official said on Monday
 "LIC, EPFO keen to set up fund for startups, says DPIIT official")
Bharti-backed OneWeb raises $330mn from South Korea's Hanwha Systems
Hanwha brings further defence capabilities and the latest antenna technologies to OneWeb
 "Bharti-backed OneWeb raises $330mn from South Korea's Hanwha Systems")
VerSe Innovation raises $450 mn in Series I funding from global investors
VerSe Innovation's proprietary technology platform serves one out of every two internet users in the country
Can new guidelines on drone operations lift India's drone start-ups?
India has fewer start-ups in the drone technology space than the US and China; it also lags most other economies in funding
 "Can new guidelines on drone operations lift India's drone start-ups?")
Startup Wiz Freight gets $3.5 mn in seed funding from Axilor, others
Digital freight management platform Wiz Freight has raised USD 3.5 million (about Rs 26 crore) in seed funding led by Axilor.
 "Startup Wiz Freight gets $3.5 mn in seed funding from Axilor, others")
Credgenics raises $25mn in series-A funding, hits valuation of $ 100 mn
The financing round was led by Westbridge Capital and Tanglin Venture Partners
 "Credgenics raises $25mn in series-A funding, hits valuation of $ 100 mn")
Upgrad in unicorn club with $1.2 bn valuation as IIFL on-boards with $25 mn
Online education platform Upgrad has raised its third external funding of $25 million from the IIFL Group, helping the re/up-skilling company join the unicorn club with a valuation of $1.2 billion
Parliament passes LLP Amendment Bill to boost start-ups, ease of business
Lok Sabha Monday passed the Limited Liability Partnership (Amendment) Bill, which seeks to encourage the start-up ecosystem and further boost the ease of doing business, amid uproar by the Opposition
 "Parliament passes LLP Amendment Bill to boost start-ups, ease of business")
toothsi raises $20 mn in Series B funding round led by Eight Roads Ventures
The company had earlier raised $5 million as part of its Series A funding in January this year
