Start-Ups

Google has partnered with the Ministry of Electronics and IT’s Startup Hub to develop Appscale Academy, a growth and development initiative that will teach early to mid-stage startups across India on how to build high-quality applications for the global market. The Appscale Academy, which will be launched in October 2021, will assist local businesses in developing and scaling a variety of world-class applications across sectors such as gaming, healthcare, financial technology, education technology, and social impact. “It is great to see start-ups and developers across India, especially those in Tier…

India has roughly 70 unicorns’ startups valued at $1 billion or more — that are expected to produce 125,000-160,000 white-collar jobs over the next two-three quarters According to two different surveys performed by EMA Partners and CIEL HR Services. According to an EMA survey of the month September, unicorn startups have recruited about 150,000 Executives in the past three quarters. It predicts that an extra 125,000 executives will be hired in the following two quarters. A significant portion of the hiring, up to 70% will be for technology roles only,…

FY21 was a nightmare for mobility startups and ride-hailing giants like Uber and Ola, as the pandemic affected their operations. While Ola has yet to file financial statistics for FY21 (or even FY20), Uber India saw a 47.3 percent reduction in operating profits during the fiscal year ended March 2021. Uber India’s operating revenue fell to Rs 370.5 crore in FY21, down from Rs 703.1 crore in FY20. During the previous fiscal year, around 81 percent of these revenues, or Rs 300 crore, were earned by Uber’s ride-hailing operation, with…

Livspace, an omnichannel home interior and renovation platform, is in talks to raise new funding and it will most likely join the coveted club of unicorns soon. According to two people familiar with the details of the deal, the Bengaluru-based startup with operations in Singapore is in late-stage discussions to raise a large investment that could exceed $200 million. The additional funds arrive at a time when Livspace is betting on global expansion. It has been operating in Singapore since 2019, in addition to 13 Indian cities. Livspace had launched…

DeHaat, an online marketplace for farm services and products, has raised $115 million in what appears to be the largest funding round in India for an Agritech startup. Belgian investment company Sofina, and Lightrock India led the company’s Series D round. Temasek joined current investors Prosus, RTP Global, Sequoia Capital India, and FMO in co-investing in the round. In January of this year, the Patna and Gurugram-based business raised $30 million in its Series C round. DeHaat provides farmers with customized inputs, guidance, financial services, and market connections for distribution….

Femtech startup healofy has secured $6.5 million in Series B fundraising led by Celestia Capital and current investor Omidyar Network India. Stride Ventures also provided $1 million in debt to Healofy. From preconception through early parenthood, Healofy offers counselling and assistance to pregnant women. The platform also has a marketplace where users may purchase childcare items. The software also functions as a “women’s social network” for expecting and new moms. “Across the top 20 Indian cities, one out of four women in early stages of motherhood access the Healofy app…

Light Information Systems, a Natural Language Processing AI-workforce startup, has raised $5.4 million in a Series A round headed by Pavestone Ventures. The startup’s no-code AI platform E42 enables companies to automate otherwise time-consuming and resource-intensive activities. Enterprise clients of Light Information Systems can create and customize “AI Co-workers” to handle a wide range of tasks ranging from customer service and human resources to corporate analytics and intelligence gathering. Clients of the startup vary in industries and sizes, from SMEs to Fortune 500 companies. Animesh Samuel and Sanjeev Menon founded…

Bollywood actress, producer, social worker Diya Mirza has joined Indian wooden toy startup Shumee as an investor and brand ambassador. Meeta Sharma Gupta’s Bengaluru-based D2C brand creates “development-friendly child-safe toys for kids up to the age of eight.” Shumee’s toys are designed in-house by their designers and handcrafted by local artisans out of wood, cotton, and other child-safe materials. Since its inception in 2016, the startup has sold over 200,000 toys in six countries. It sells directly through its website as well as through platforms such as Amazon. Speaking on…

Byju’s has hired investment banks to raise at least $500 million in Term Loan B (TLB) borrowings in the United States, as India’s most valuable startup seeks to replenish its war chest with debt after spending billions of dollars on acquisitions this year, according to three people familiar with the development. The EdTech unicorn will mostly use the funds for acquisitions, with a part of the funds also being used for working capital. “Byju’s is working with American investment banks JP Morgan and Morgan Stanley to structure the TLB financing….

Gramophone, an Indore-based Agritech startup, has raised INR 75 Cr (about $10 Mn) in its Series B funding round. The round was led by Z3 Partners, with existing investors Infoedge, Asha Impact, and Siana Capital also participating. Amit Sharma of Sunrise Group, Sumeet Kanwar of Verity, and Chona Family Office are among the new investors in the round (Havmor Group). The funding will be used to expand the startup’s technology platform. It intends to grow geographically while also exploring inorganic growth possibilities like mergers and acquisitions. “With this investment, we…