HealthQuad, an Indian healthcare venture capital fund, has announced the pre-final closure of its second fund with a total subscription of INR 1,134.5 Cr ($150 Mn), more than double the fund’s target size of INR 550 Cr ($75 Mn). HealthQuad is a healthtech fund that invests solely in entrepreneurs that have technology-backed innovative healthcare models. The platform is supported by Quadria Capital, an Asian healthcare-focused private equity firm, and KOIS, an impact investment fund, which will also assist companies with industry knowledge, networks, and market access. So far, the fund…
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Fintech startup Tyke gets $1.5 million funding
Tyke, a Mumbai-based fintech startup, has received pre-seed investment of $1.5 million from 9Unicorns, Better Capital, Ratio Ventures, and Venture Catalysts. Jitendra Gupta, Sweta and Amrish Rau, Varun Mittal, Sandeep Aggarwal, Navin Surya, and Ajay Rajan were among the angels that took part in the round. Tyke, which will be launched in the middle of 2021, will use software to enable entrepreneurs to transact and complete their fundraises digitally and instantly. “Our vision is to make private investing instant and accessible. We plan to use the funding to build distinguished…
Read MoreBig companies will not attend CES 2022
Facebook, Twitter, Amazon, and Pinterest have withdrawn from the Consumer Electronics Show 2022. Amazon, Facebook, and Twitter have all issued separate statements stating that they will not be attending the CES 2022, which will be held in Las Vegas in January. For not attending the Electronics show, the companies cited growing concerns about the new Omicron variant. “Out of an abundance of caution and care for our employees, we won’t be attending CES in-person due to the evolving public health concerns related to COVID-19,” Meta was quoted as saying by…
Read MoreMonster.com raises ₹137.5 crore in a new funding round, company valued near $100mn
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 MoreSnapdeal 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…
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