According to recent reports, Edtech startup Unacademy is soon planning to raise about $30 million funding. Unacademy is a Bengaluru based edtech startup. The main purpose of this funding is to go deeper and expand its operations into areas like K-12 and competitive exams. This funding would lead to the valuation of the company at $100 million.
Microsoft has recently acquired Flipboard, a social education app that uses short collaborative videos to teach concepts. This might be seen as Microsoft’s foray into the world of digital education, to rival Google and its Chromebook line. The app has already been integrated into Microsoft Teams in Office 365 for Education.
Mobikwik has invested Rs 2 crores in Pune-based AI company, Pivotchain Solutions, which has helped build artificial intelligence predictive and dep-learning models for it in the past. The AI company has been working closely with global banking, insurance, retail and government corporations since its inception. MobiKwik founder and CEO Bipin Preet Singh has said that the company will continue to invest in businesses that can add value to their own brand.
Myntra, Flipkart’s fashion subsidiary, has decided to expand in the offline sector by launching 100 stores across the country in the next two years. The company is also in the process of integrating its warehouse inventory with store inventory for its in-house brands as well as for other brands to provide customers a seamless online-to-offline experience and to boost sales. The company continues to focus on private labels, and is eyeing to close FY1 with a GMV of $1.9 billion.
US-based EV startup Bird has become the fastest company to hit a $1 billion evaluation, achieving the feat in just 9 months. Bird is an electric scooter ride-sharing platform focused at helping the environment by making people use scooters instead of cars for short-distances, consequently reducing traffic and greenhouse emissions. According to the company’s blog, the funds have been used to assemble its own fleet of eco-friendly shared electric scooters and expand its team.
Indian online marketplace IndiaMART is planning to hit the market soon with an IPO of $88.24 million 9around Rs 600 crores), and raise the requisite amount through primary and secondary share sales. The company, which was actually established way back in 1996, serves as medium to help SMBs find each other; catering to about 58 million buyers, and providing 65 million products across the country. It had also launched Tolexo.com in 2014 as an ecommerce platform for business goods and suppliers.
PhonePe has partnered with taxi-ride firm Ola to allow users to book cabs through the app. Currently, this feature is available for customers from ICICI Bank and HDFC Bank, but other banks will be added soon. Co-founder Rahul Chari says that the platform is built in a way that allows third-party merchant applications to be constructed on the top, thereby benefitting everybody. These strategies will come in handy for PhonePe to rival PayTm, which is already an online payment behemoth.
Truecaller which has become quite essential and famous today is wherein it helps you to identify the authenticity of your calls and messages and helps to avoid spammers if any. A news recently broke out that Truecaller has made its first acquisition with chillr enabling it to build out payment and financial services in India. Truecaller’s main aim with this acquisition is to convert itself into a utility app and to find a deeper place in respect of mobile payments and its other associated services
Micro-delivery and milk-tech companies are catching the attention of the big fish, as Swiggy has reached an advanced stage of talks to acquire Mumbai-based company SuprDaily, and has proposed an offer consisting of equity and money to take over the company, the values of which can’t be ascertained at the moment. Swiggy itself has brought in about $250 million in investments from Naspers, Meituan-Dianping, Accel India, SAIF Partners, Bessemer, and several others.
Recent news broke down that DailyNinja which is an online grocery deliveries start-up is getting around $3 million of funding for its business through Saama Capital and also Sequoia . DailyNinja plans to leverage of this opportunity by planning to use this capital into the expansion of its business in Bengaluru, Hyderabad and Gurgaon.