#WEXTSaturday – Initiative by WEXT.in Ventures in which WEXT.in will cover all Indian Startup News, Funding Alerts, Acquisition Deal Alerts.
A lot of buzzes are on-going in the Indian corporate sector amid the pandemic situation of coronavirus. The daily cases are now near to 15k in total and the forecast of the deadly virus is still dangerous. Looking at the risky phase of the nation, the Indian Railways has again suspended its regular trains till 12 August 2020. International flights are again canceled for a few weeks. West Bengal is again going for complete lockdown phased from the beginning of July. In simple terms, the nation can now again experience another phase of lockdown by halting the present condition of Unlock 1.0.
Looking forward to the present condition, if another lockdown phase begins in the nation, this will be again a challenging moment for most of the businesses. But the interesting fact is that most of the business owners and entrepreneurs also know this, and they are working in a strategic way to deal with any type of upcoming issues. As a part of daily operations, most of the businesses are generating funds, acquiring businesses, or initiating collaborative plans for their benefits in the market.
Here we present you the latest startup news in the Indian corporate ecosystem. We have listed the new funding alerts, acquisitions alerts or investment alerts, and much more for this week. Let’s begin!
According to some reports, the renowned Future Groups is now in talks with RIL (Reliance Industries Limited) regarding the selling of Future Retail and other unit stake selling. Future Retails has an on-going partnership with Reliance Industries and the e-commerce giant Amazon.
Inspired by China-based app TikTok, Zee5 is all set to launch its own short video platform – Hypershots. The app is all set to launch tentatively in the month of August 2020. Similar to TikTok, users can create their own 15-90 seconds video on Hypershots.
Renowned online payments startup Checkout.com has now successfully raised an additional $150 Mn in its series B funding round. This funding has tripled the company’s valuation to $5.5 Bn making it one of the highest valued Fintech organizations in Europe joint.
The well-known online grocery and home essentials delivery startup, Milkbasket, has now raised a fresh fund of $5.5 Mn in its funding round. The round was led by Inflection Point Ventures and other existing investors of Milkbasket. The fund will be useful in expanding the company’s operations.
Goa-based co-working startup, 91springboard, has risen funding of Rs.45 crore in a fresh round. The funding round was led by the company’s existing investors which include Freakout, which is a Singapore based tech-marketing company, Shinsei Bank of Japan, and others.
The renowned Sydney-based designing platform for non-designers, Canva, has raised additional funds of $60Mn and brings the company valuation to $6Bn. Recently, Canva also raised more than $300Mn from some renowned investors including Blackbird Ventures, Sequoia Capital, and others.
Flipkart co-founder Sachin Bansal’s new financial startup, Navi, now launches an instant loan mobile app targeting the middle-income segment customers. This app will be providing instant personal loans up to Rs.5 lakhs with a repayment period of up to 36 months.
Indian Institute of Management, Ahmedabad (IIM-A) has now launched its own ‘IIM Ahmedabad Endowment Fund’ of Rs.100Cr from 10 founding alumni, having MakeMyTrip founder Deep Kalra and InfoEdge founder Sanjeev Bikhchandani on the list. This endowment fund aims in raising Rs.1000Cr in the next 5 years period.
Universal tech giant Google has partnered with undisclosed lending firms in order to launch a credit feature of the nation’s small and medium enterprises listed on Google Play. The instant loan feature is all set to launch by the end of this year.
Bangalore based digital payment card startup Slice has closed its Pre-Series B funding round at $6.07Mn. The funding round was led by Japan-based investor Gunosy including other participants such as Das Capital, Better Capital, and EMVC.
Rakesh Jhunjhunwala backed Fullife Healthcare, which manufactures basically nutrition, supplements have raised fresh funds of Rs.50 Cr in its funding round. The funding round was led by Singapore based Amansa Capital founded by the renowned stock picker Akash Prakash.
Tech giant IBM has now partnered with the Directorate General of Training (DGT) under the Ministry of Skills Development and Entrepreneurship (MSDE) in order to launch a free Digital Learning platform for providing skill development programs for the job seekers. Apart from it, the MSDE has also launched a 10-week Skill Build Innovation Camp.
That’s all for this week!
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