Start-Ups

Pine Labs, an IPO-bound digital payment and financial services provider, is in talks to buy Setu, an API-based infrastructure company, for $70- $100 million in cash and stock, according to three people familiar with the talks. According to one of the people cited above, if the acquisition goes through, Pine Labs will gain access to Setu’s Account Aggregator consent framework and technology, which will help it improve market time for its planned financial services launch. Financial service providers no longer need to make multiple integrations for a single feature thanks…

LegalPay, an alternative-investments platform specialising in insolvency, legal, and debt financing within insolvency, has raised an undisclosed amount from US-based Hedonova. In December, the company received pre-Series A funding from prominent investors Venture Catalysts and Amity Technology Incubator, as well as participation from existing investors such as Ashwini Kakkar’s family office, the former head of Thomas Cook and co-founder and chairman of via.com; venture capital fund 9unicorns; and other marquee angels such as LetsVenture. Hedonova is a hedge fund based in the United States that invests in a variety of…

Quiph’s SuperShare, a smartphone dialer and communication platform, has raised Rs 48.5 crore (approximately $6.5 million) in a Series A round from new and existing investors. This would be the company’s second funding round in the last two years. In March 2020, it raised $1.6 million for its first product, QTalk. Quiph has issued 3861 Series A preference shares for a total of Rs 48.5 crore at an issue price of Rs 125,548.12 per share. Lightspeed led the round with Rs 32.3 crore, while Accel, a previous backer, contributed Rs…

The scale of Delhivery, Ecom Express, and Shadowfax demonstrates the exponential growth of e-commerce-focused logistics in the last decade. By outpacing BlueDart in terms of revenue in FY21, Delhivery became India’s largest supply-chain company. During the fiscal year ending March 2021, its operating income increased by 31% to Rs 3,646 crore. While Ecom Express has yet to file its annual financial statements for FY21, Shadowfax has shown strong growth, with operating revenue up 43.7 percent. The company’s revenue for FY21 was nearly Rs 464 crore, up from Rs 323 crore…

Chargebee, a subscription management platform based on software-as-a-service, announced on Tuesday that it had raised $250 million in a round led by Tiger Global Management and Sequoia Capital, bringing the company’s valuation to $3.5 billion. Existing investors such as Insight Partners, Sapphire, and Steadview Capital also participated in the round. Chargebee Technologies Pvt Ltd, the company that runs Chargebee, has raised $470 million in total. In April 2021, it raised $125 million at a valuation of $1.4 billion. The funds will be used for product innovation and global expansion, as…

Finance minister Nirmala Sitharaman presented the Union Budget for the fiscal year 2022-23 on Tuesday. Here are some highlights from the world of technology and technology startups: According to Sitharaman, the government will establish a Digital University to provide online education in multiple languages. A web portal for skill development has been announced. Startups in the agricultural and rural sectors will benefit from a fund raised through NABARD. A battery swapping policy and interoperability standards will be implemented in order to set up charging stations at scale. Sitharaman stated that…

Loadshare, a Bengaluru-based logistics and supply chain startup, has raised $40 million in a Series C funding round led by US-based investment firm Tiger Global. The round was co-led by Filter Capital, 57 Stars, and previous investors CDC Group and Matrix Partners India. The company was founded in 2017 by Raghuram Talluri, Pramod Nair, and Rakib Ahmed. According to the statement, LoadShare’s mission is to solve its customers’ toughest logistics challenges by leveraging the power of small and medium logistics entrepreneurs. According to LoadShare, it provides a variety of services…

Scaler, a tech upskilling startup, has raised $55 millionin a Series B round led by new investor Lightrock India and two existing investors, Sequoia Capital India and Tiger Global, for a total valuation of $710 million. With this new round of funding, Scaler Academy’s total capital raised now stands at $76.5 million. In January 2020, Sequoia India and Tiger Global led a Series A round for the Bengaluru-based startup. According to a press release, the new funds will be used to fund international expansion plans, the launch of new products…