Monster.com, a Quess company and online talent platform, has raised 137.5 crore in a round led by Akash Bhanshali (Volrado Venture Partners) and Mohandas Pai (Meridian Investments), with Quess participating. Following the funding round, the company is valued at around $100 million. The current close is at 112.5 crore, with an option to increase the round to 137.5 crore built in. The funds raised will be used to increase investments in product development and marketing in India, Southeast Asia, and the Middle East markets. The investment, according to the company,…
Read MoreAuthor: FutureTech
Snapdeal plans to raise ₹1250 crore through the sale of new shares
Snapdeal Ltd., an Indian e-commerce startup backed by SoftBank Group Corp., has filed preliminary documents for an initial public offering, joining the rush of tech companies looking to debut on the country’s exchanges in the midst of a record-breaking stock market rally. According to its proposal red herring prospectus, or DRHP, filed with the Securities and Exchange Board of India, the New Delhi-based company intends to raise 1250 crore ($165 million) through the sale of new shares. Furthermore, existing stockholders, including SoftBank, intend to sell up to 30.77 million secondary…
Read MoreAim launches local language innovation program
Niti Aayog’s Atal Innovation Mission (AIM) is launching a local language innovation programme to provide ecosystem services to innovators who do not speak English. It aims to provide learning materials in local languages, access to global markets, and funding for non-English speaking startups and innovators. The first leg, in collaboration with IIT Delhi, will begin on December 22 and will focus on design thinking and entrepreneurship. It is divided into three phases, the first of which is focused on training, while the other two will assist innovators in growing and…
Read MoreThe new Silicon Valley get-rich-quick job
When Sandy Carter quit her position as a vice president of Amazon’s cloud computing unit this month, she stated in a LinkedIn post that she was joining a crypto technology startup. She included a link for open positions at the startup. Within two days, she claimed, more than 350 people – many from the world’s largest internet companies – had clicked the link to apply for jobs at Unstoppable Domains. The company provides internet addresses that are stored on the blockchain, a distributed ledger system. “It’s the perfect storm,” Carter…
Read MoreSpinny completes ESOP buyback worth $12 million
Spinny, a pre-owned car retailing platform, announced the completion of a $12 million (approximately Rs 90 crore) ESOP buyback for its current and former employees on Tuesday. Spinny, which recently added former cricketer Sachin Tendulkar as a strategic investor, has facilitated the first ESOP (employee stock ownership plan) buyback. ESOP is an employee benefit plan that gives workers ownership interest in the company. “It is imperative to nurture a working culture that inspires each and every team member to do the best work and have a say in all internal…
Read MoreJumbotail raises $85 million in Series C round
Jumbotail, a business-to-business e-commerce startup that distributes groceries to mom-and-pop retailers, stated that it has secured a Series C investment of $85 million. The funding was led by Artal Asia Pte. Ltd., an affiliate of Invus, a global equity investment firm with over $10 billion of evergreen capital under management. The round was also attended by Ajax Capital, the family office of renowned FMCG entrepreneur Ajay Gupta. This Series C round included both primary and secondary investments, with early investors Nexus Venture Partners and Kalaari Capital participating in the secondary…
Read MoreMumbai Teens’ Startup Raises 100 Million
Zepto, a two-teenager-founded immediate grocery delivery business, has secured $100 million in a fundraising round led by Y Combinator, bringing its valuation to $570 million just five months after launching services in India’s brisk quick commerce industry. The startup’s latest fundraising comes 45 days after a prior capital round of $60 million at a valuation of $225 million, according to Aadit Palicha, co-founder and CEO, in an interview. In addition to Y Combinator’s Continuity Fund, the current round included investments from new and previous backers such as Glade Brook Capital…
Read MoreAutonomous technology startup bags funding from various companies
Flo Mobility, a vision-based autonomous technology company, has raised $400,000 in funding from DevX Venture Fund, Venture Garage Angels, Blume Founders Fund, and other prominent angel investors. Manesh Jain and Mohan Kumar founded Flo Mobility in 2019 with the goal of creating a platform that can bring autonomous capabilities to vehicles across industries and form factors. The startup claims to be deploying its stack on a variety of vehicles, including electric scooters, delivery bots, agri-weeders, surveillance bots, golf carts, and lawnmowers. Flo Mobility intends to use the funds raised to…
Read MoreWoman complains she was virtually groped on Meta’s Horizon Worlds
Several weeks after the release of Meta’s Horizon Worlds, reports surfaced of a female beta tester alleging that she was groped on the virtual reality (VR) platform. The beta tester allegedly told Meta that she was groped by a stranger on Horizon Worlds, and that other people agreed with her. She also shared her experience on Facebook in the Horizon Worlds beta testing group. “Sexual harassment is no joke on the regular internet, but being in VR adds another layer that makes the event more intense,” The Verge quoted the…
Read MoreEdtech startup Masai School acquires data analytics firm Prepleaf for $1 million
Masai School, an edtech and skilling startup based in Delhi, has paid $1 million for Prepleaf, an end-to-end placement preparation company specialising in Data Analytics. Prepleaf, founded in 2017 by IIT Kanpur alumni Ankit Agrawal, Amit Saharan, and Aman Singhal, provides 5-month Data Analytics courses. Masai will now offer courses in Data and Business Analytics in addition to Web Development and UI/UX Design, aiming to become India’s one-stop destination for outcome-based education, according to founder and CEO Prateek Shukla. The acquisition comes after the company announced an undisclosed funding round in October from Paytm founder Vijay Shekhar Sharma and CRED founder Kunal Shah, as well as a Series A round earlier this year led…
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