Byju's has paid 19 billion rupees ($234 million) to Blackstone Inc, the payment made on Thursday was for a stake of about 38% owned by Blackstone in the learning center chain Aakash.
While most of the home repair and maintenance services were allowed to operate, beauty services had to be shut down in several parts of the country, which impacted business activity in Q1 FY22, the company said
The company said it will recruit staff across the sales, business-to-business (B2B) enterprise, instructors, and operations teams. According to Scaler, it currently has over 1,800 employees, and the hiring spree will expand its workforce by 35 percent.
Other members of the newly formed board are Prakash Bakshi, former chairman of National Bank For Agriculture And Rural Development (NABARD), and Anand Sinha, retired deputy governor of the Reserve Bank of India
The Koo spokesperson said that the company’s workforce was streamlined to meet current business requirements as Koo is currently going through a rapid growth phase.
OkCredit is currently valued at $40-50 million, sharply lower than the $83 million it had raised in total from investors over three funding rounds
Executives from the hedge fund company’s US office have met investors many times in Bengaluru. The meetings are happening at a time when the company is increasingly looking at investing in younger startups across the world as some of its late-stage bets are turning sour.
Jar said that it will use the funds to expand its workforce and continue to build a comprehensive, one-stop savings financial platform.
Lysto is building tools that aims to standardise gamer credentials and reputation across games and platforms
Jodo plans to double its team size to 300-350 over the next 18 months
Pre-IPO shares will be released from their Sebi-mandated lock-in, said CNBC TV18’s Prashant Nair in Editors’ Roundtable
Tiger Global investment vehicle Internet Fund IV held a 5.11 percent stake in Zomato before the lock-in ended. Its shareholding has now reduced to 2.77 percent
Westbridge Capital joins a growing list of PE and venture capital (VC) firms to raise large funds for India-focused companies
Industry experts however, believe that it may be difficult for Slice to get RBI approval as the regulator may be selective in giving the green signal to NBFCs to issue credit cards.
However, late-stage investments fell over 11% to $9.1 billion during the first quarter of 2022-23 from $10.3 billion a year earlier, according to data compiled by analytics firm Tracxn Technologies.
The New York-based hedge fund company has participated in Series A rounds of 10 companies totalling $402.3 million in the first six months of 2022, against three companies for a total of $75.7 million in the whole of 2021, according to data by Tracxn Technologies.
The round takes the total fundraise by Progcap in the past year to $95 million.
Battery Smart has closed its series A round of USD 25 million. The funding round was led by Tiger Global, along with participation from Blume Ventures and Orios Ventures, it said in a statement.
Battery Smart's fundraise comes a month after NITI Aayog published a draft policy for battery swapping, suggesting that swapping infrastructure and EV financing would continue to get government attention
The edtech company, which got valued at over a billion dollars in September last year, reported a fourfold increase in expenses to Rs 744 crore for FY21 from Rs 186 crore a year earlier, as employee benefit expenses rose to Rs 408 crore in FY21 from Rs 88 crore in FY20
Groyyo is betting on the SME manufacturing industry, which it expects to be worth $120 billion already and sees it growing 5x by 2025.
Shah’s investments have dropped sharply in 2022 with the overall funding to India’s startup ecosystem, which is currently the world’s third-largest, slowing amid a correction in global financial markets. According to data shared by data analytics firm Tracxn Technologies, Shah has closed only 26 rounds so far this year.
According to Moneycontrol estimates, the Kunal Shah-led company has raised the money at a valuation of almost $6.22 billion. Existing investors Tiger Global, Sofina Ventures, Alpha Wave Ventures and DF International also participated in the funding round
In the early hours of Tuesday, around 50-60 employees in India started receiving direct emails informing them to move on. The company has a total of around 500 employees in its offices in Jakarta and Bengaluru.
The slowing demand for technology-based education services, coupled with the much-talked-about funding winter, has had a domino effect on India's thriving edtech companies, forcing them to lay off employees, go slow on expansion, cut down excess spends and explore newer revenue streams. Some edtech companies have even shut operations