FutureTech

Andreessen Horowitz raised $9 billion to invest in a diverse range of startups, completing one of the largest venture capital fundraising campaigns. According to the firm’s announcement on Friday, the money is being invested in three new funds. More than half is invested in a growth fund aimed at more mature startups. The remainder is split between a general venture fund and a biotech and health fund. The fundraising effort outperforms one completed by Sequoia Capital in 2020, which raised approximately $7 billion. Andreessen Horowitz’s total assets under management now…

Shiprocket, an ecommerce shipping company, announced on Friday that it has “committed” to acquiring a 75 percent stake in Wigzo Tech, a customer data platform (CDP). Shiprocket said in a release that the proposed strategic acquisition will allow it to expand its product stack for online retailers onboarding its platform, among other things. Wigzo Tech specialises in meeting the ever-changing needs of ecommerce and direct-to-consumer brands. Shiprocket raised $185 million in a Series E round last month, with the proceeds going toward acquisitions and business expansion, among other things. According…

Fitelo, a fitness technology app, hopes to increase its revenue to Rs 250 crore in three years as consumers increasingly use technology for their health and wellness needs. The platform has grown exponentially in the last two years, serving 15,000 clients with a team of 65 people. Fitelo claims that its content reaches five million people monthly and that it aims to become the world’s largest weight loss app this year. “In the next five years, we envision Fitelo to be the one-stop solution for people planning to embrace the…

Geniemode, a global B2B cross-border e-commerce company, has raised $7 million (approximately Rs 52 crore) in funding led by Info Edge Ventures. This new funding comes just four months after the company received a $2.25 million seed round. According to the company, the new capital will be used to scale the company’s tech platform, expand geographically, increase its design capability, and expand the platform’s buyer and vendor base. The company is a rapidly expanding B2B e-commerce startup, with buyers in the United States, Latin America, the United Kingdom, the European…

Anurag Jain, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), stated on January 6 that government-registered startups have created up to 6.5 lakh jobs in the country. Since 2016, when the flagship digital initiative was launched, the DPIIT has recognised over 60,000 startups, making India the world’s third-largest startup ecosystem. “The figure comes to 11 jobs per startup. The startup revolution is transforming our country from a nation of job seekers to job givers,” said Jain. The government had earlier based the number of jobs created…

India Quotient, along with the founders of social network ShareChat and online fashion brand FabAlley, has invested in hair care startup Zemé Fresh, which was founded by Prerna Bhutani, a former partner of the venture capital firm. Zemé (pronounced zay-may) sells shampoos and conditioners that are “made from herbs and fresh kitchen ingredients – not extracts – without any artificial chemicals or preservatives,” according to the company’s website. The company’s products must be refrigerated, just like fresh produce. Bhutani did not reveal the amount raised, but stated that the funds…

Reliance Digital Health has invested in the onology-focused managed healthcare platform Karkinos Healthcare for an undisclosed amount, according to a statement released by company Other major angel investors in the start-up, which is backed by Ratan Tata personally and the Tata Group, include Venu Srinivasan, Kris Gopalakrishnan, Ronnie Screwvala, Vijay Shekar Sharma, and Bhavish Agarwal. Rakuten Medical, a global clinical stage biotechnology firm based in San Diego, California, also has a minority stake in it. The Tata Group recently invested Rs 110 crore in this technology-driven oncology-focused managed healthcare platform,…