Start-Ups

UpGrad, an edtech unicorn, is weighing non-linear growth options through acquisitions and plans to increase its focus on outcome and profitability this year. Mayank Kumar, co-founder and Managing Director, anticipates massive growth in the edtech sector, and his seven-year-old start-up will nearly quadruple its registered learners base to 7.5 million in the next two years. “In 2022, there will be a strong emphasis on the outcomes and profitability. We foresee accelerated university partnership expansions, tie-ups with global universities to offer diversified online programmes in regions including India, the Middle East,…

Square Yards, a proptech platform, has begun work on its initial public offering (IPO), through which the company may raise 1,000 crore or more, joining several other technology companies planning to list, according to two people aware of the development. Square Yards is a real estate and mortgage integrated platform that is expanding its business through international operations in the UAE, the rest of West Asia, Australia, and Canada. Its platform encompasses the entire real-estate journey, from search and discovery to transactions, home loans, interiors, rentals, property management, and after-sales…

Plix, a clean plant-based nutrition brand for daily wellness and strength, announced a $5 million Series A funding round led by Guild Capital and RPSG Capital Ventures. The funds will be used to launch products in the nutraceuticals segment that address critical health concerns. Over 85 SKUs are scheduled to be released in the next 12 months. In addition, the company is looking to hire new senior leadership talent, strengthen their R&D team, and enter new markets. The global wellness market is estimated to be worth $1.5 trillion, with India…

We Founder Circle led a $1.1 million seed round for gaming startup EsportsXO, which was followed by Wami Capital, SOSV, Mumbai Angels Network, SucSEED Indovation Fund, Eximius Ventures, and FAAD Network. Before raising the first investor round, the founding team of Vikas Goel, Utsav Umang, and Rohit Raj invested $200K. EsportsXO intends to invest the funds in tech and non-tech talent acquisition, as well as increase marketing and operational activities. EsportsXO, which launched in 2020, is a tournament discovery platform for gamers and gaming enthusiasts with the goal of creating…

Ola Electric Mobility Pvt., the Indian startup that has pledged to build the world’s largest electric scooter factory, distributed a handful of brightly coloured bikes earlier this month, complete with drummers and a saxophonist to commemorate the occasion. Founder Bhavish Aggarwal came to thank the 100 customers who brought family and friends. But, aside from the colourful proceedings, Ola isn’t living up to its lofty ambitions. According to people familiar with the company’s operations who asked not to be identified because the information isn’t public, mass production of its e-scooters…

Indian startups clocked $9.5 billion, or approximately Rs 70,600 crore, in 2021, adding to the industry’s achievements in what was a watershed year for the ecosystem. Exits, whether partial or complete, by existing investors of startups via initial public offerings (IPOs), mergers and acquisitions (M&As), and secondary share sales increased nearly eightfold this year through December 10 from $1.2 billion, or about Rs 8,900 crore, in 2020, according to data from Venture Intelligence, which tracks startup deals data. Except for the Walmart-Flipkart deal in 2018, this is the highest number…

Didi Global, China’s largest ride-hailing company, has seen its losses increase after Beijing ordered online stores not to sell the company’s app. The company reported an operating loss of $6.3 billion (£4.7 billion) for the first nine months of the year, as revenues in China fell by 5% in the third quarter. The Chinese crackdown came just days after Didi debuted on the New York Stock Exchange at the end of June. It announced this month that it will relocate its share listing from the United States to Hong Kong….