Times Applaud

Logistics startup Shiprocket has secured almost $32 Mn in a bridge round. The company  was worth around $1.2 Bn in the funding round, which makes it India’s 106th unicorn. Shiprocket has secured approximately $32 million in a bridge round led by Light Rock India and Temasek. In the funding round, the logistics startup was valued at around $1.2 billion, making it the country's 106th unicorn. This year, Shiprocket has acquired five startups and made numerous investments. Shiprocket, a SaaS-based logistics startup backed by Zomato, has become the country's latest unicorn. Shiprocket has raised $33.5 million in a Series E2 funding round led by Light Rock India. According to the startup's regulatory filing, the funding round included Singapore's sovereign fund Temasek, Bertelsmann, Moore Strategic Ventures, Paypal, March Capital, and Huddle. Shiprocket allotted 59,793 Series E2 compulsory convertible preference shares (CCPS) at an issue price of INR 43,394...

Adam Neumann, the controversial WeWork founder, is back after three years with his new business Flow, which has received the largest single-round investment from famous Silicon Valley investor a16z. However, this has failed to please the tech and venture capital communities. WeWork's infamous founder Adam Neumann, who the VCs ousted in 2019 for financial fraud, mismanagement, and managing a terrible work culture, might raise a large check again, especially in a venture bear market — and for a firm that hasn't even debuted yet. Andreessen Horowitz (a16z), a major Silicon Valley venture capital company known for its early bets on Airbnb and Twitter, made a $350 million pre-seed investment in Neumann's new business Flow last evening IST, valuing the soon-to-be-launched residential real estate firm at $1 billion (unicorn). While a16z's official blog article did not disclose any financial specifics of the transaction, the media estimated it to be $350 million, cit...

Rahul Garg established Moglix, an e-commerce firm for B2B platforms, in 2015. In May 2021, the firm became a unicorn after raising $120 million in a fundraising round. Moglix is a B2B E-commerce firm established in Singapore that sells industrial items. It provides manufactured items in a variety of areas via its e-commerce platform. Founder of Moglix, Rahul Garg, says, he launched the company to provide the B2B world with the same level of convenience, supply chain efficiency, technology, that is found in the consumer world. Moglix has expanded into several areas of the supply chain business since it was founded in 2015. There are two types of solutions: business procurement solutions and contract management solutions. Moglix is India's largest e-commerce site for manufactured goods, with 700,000 stock-keeping units and 40 warehouses. It provides industrial items to over 500,000 small and medium-sized businesses and has its own logistical infrastructure. ...

Blockchain startup 5ire has secured $100 million in Series A round of funding. With this, the fifth generation level one blockchain network has become a unicorn. Fifth-generation level one blockchain network 5ire has joined the exclusive club of unicorns after securing $100 million in Series A investment from UK company SRAM & MRAM. With a current valuation of $1.5 billion, it is the fastest-growing blockchain unicorn in India, claims 5ire. According to a press statement from 5ire, the funds will be utilized to expand the company's activities across Asia, North America, and Europe, with India serving as the operational center and primary area of emphasis. Additionally, the firm wants to employ talented individuals for roles in marketing, engineering, and product development. Currently, 70% of the entire staff is based in India. Pratik Gauri and Prateek Dwivedi, two founders of 5ire who are of Indian descent, came up with the idea, and Vilma Mattila, a web3 f...

Investors in the round included Sequoia Capital, Ocean View Investment, and QED Holdings, among others. OneCard is currently worth roughly $1.25 billion, making it a unicorn. OneCard, a Pune-based fintech business, has become the newest member of the unicorn club after raising around $100 million (about INR 802 crore) in a new investment round. Temasek, Singapore's sovereign fund, led the latest investment round, which appears to be the startup's Series D round, and invested INR 375 Cr. According to the startup's regulatory filings, investors in the round included Sequoia Capital, Ocean View Investment, QED Holdings, Matrix Partners, and Hummingbird, among others. Investors in the round included Sequoia Capital, Ocean View Investment, and QED Holdings, among others. OneCard is currently worth roughly $1.25 billion. OneCard, a Pune-based fintech business, has become the newest member of the unicorn club after raising around $100 million (about INR 802 cro...

Investors in the round included Sequoia Capital, Ocean View Investment, and QED Holdings, among others. OneCard is currently worth roughly $1.25 billion, making it a unicorn. OneCard, a Pune-based fintech business, has become the newest member of the unicorn club after raising around $100 million (about INR 802 crore) in a new investment round. Temasek, Singapore's sovereign fund, led the latest investment round, which appears to be the startup's Series D round, and invested INR 375 Cr. According to the startup's regulatory filings, investors in the round included Sequoia Capital, Ocean View Investment, QED Holdings, Matrix Partners, and Hummingbird, among others. Investors in the round included Sequoia Capital, Ocean View Investment, and QED Holdings, among others. OneCard is currently worth roughly $1.25 billion. OneCard, a Pune-based fintech business, has become the newest member of the unicorn club after raising around $100 million (about INR 802 cro...

Synaptic, a SaaS platform founded in 2016, attempts to bring together disparate data sources on a single platform, package them with firms' internal data, and provide insights for venture capitalists. Venture capital (VC) is a high-risk, high-reward investment strategy. The important questions for an investor are which firms are the most promising and if they are worth investing in. With so many investment possibilities and company presentations to choose from, venture capitalists (VCs) frequently have a set of criteria that they look for and consider before making an investment choice. However, evaluation criteria are expanding beyond cold algorithms and traditional data sources such as financial records in order to make financing decisions or follow the form of an existing portfolio. Enter the phrase 'alternative data.' Alternative data, usually referred to as external data, is information gathered from non-traditional data sources. It might be as insig...

In a new funding round, FreshToHome hopes to double its worth to over $1 billion. The D2C meat and seafood startup's Series D fundraising round is expected to include participation from the Abu Dhabi Investment Office and Investcorp. FreshToHome, a D2C meat and seafood firm, is pursuing a Series D fundraising round with a post-money valuation of over $1 billion, according to persons familiar with the situation. According to the sources, the fresh fundraising round might include Abu Dhabi Investment Office (ADIO) and current investors like as private equity firm Investcorp, valuing the Bengaluru-based business at around $1 billion. FreshToHome will participate in the current round with investors from Dubai, Bahrain, and Saudi Arabia, where the company has aggressively extended its operations in recent years. According to the sources, the business is trying to raise $100 million to $150 million in a Series D financing. Shan Kadavil, cofounder and CEO of FreshToHome...

Vanta, a startup that helps organizations comply with cybersecurity standards, became a unicorn this week. The San Francisco-based company secured a funding of $110 million at a valuation of $1.6 billion. Vanta Inc. has secured $110 million in a fundraising round headed by Craft Ventures at a valuation of $1.6 billion. Sequoia Capital, Y Combinator, and other current investors joined in the Series B financing, according to the San Francisco-based startup, which helps enterprises comply with cybersecurity regulations. Enterprise software developers must guarantee that their apps process client data securely as part of their product development activities. They accomplish this with the assistance of industry standards such as SOC 2. These standards define a set of cybersecurity requirements that a software product must achieve in order to properly secure the business data of its customers. Vanta offers a technology that makes it easier to meet cybersecurity criteri...

100 Purplle has secured $33 million in a new funding round. With this, the online cosmetics retailer became the latest unicorn in India. Mumbai-based  online cosmetics retailer, Purplle, secured $1.1 billion in funding, becoming the second billion-dollar firm to be founded in India this week, despite negative investor attitude toward startups. The startup acquired $33 million in Series E funding from South Korea's Paramark Ventures, as well as current investors Blume Ventures, Kedaara, and billionaire Azim Premji's Premji Invest. Purplle, which is backed by Goldman Sachs Group Inc., is a major competitor to Nykaa, whose parent company, FSN E-Commerce Ventures Ltd., had one of India's most successful market debuts right before global investment circumstances soured.Nykaa is presently worth $8.7 billion. India currently boasts over a hundred unicorns. Physicswallah, an edtech business, raised $100 million last week from investors including WestBridge Ca...

Neobanking platform, Open, has secured $50 million in a Series D round. With this, the startup has become India's 100th unicorn. Open, a neobanking platform for small and medium-sized businesses (SMBs), has secured $50 million at a $1 billion value. As a result, it is the 100th unicorn to emerge from India, marking a watershed moment in the Indian startup ecosystem. IIFL led the Series D round, which included previous investors Temasek, Tiger Global, and 3one4 Capital. In addition, the firm is the 16th unicorn of 2022. The funding comes only six months after Open received $100 million in a financing sponsored by Google, Temasek, Visa, and SoftBank Investments of Japan. The company's valuation after the last round was $500 million, and it has now more than quadrupled with this investment. Services such as digital banking, payments, invoicing, and automated bookkeeping are included in the account. Open is also one of the few unicorns that has two female co-founders...

Turtlemint has secured $120 million in a new funding round. With this, the insurtech startup is set to be become a unicorn. Turtlemint, an insurtech platform, said on April 29 that it has secured $120 million in a Series E round headed by Amansa Capital, Jungle Ventures, and Nexus Venture Partners. Turtlemint's valuation has risen to $900 million as a result of the round, bringing it closer to the unicorn status. Vitruvian Partners and Marshall Wace, as well as other existing investors, participated in the round. This takes the company's total capital raised since its founding to $190 million. The additional funds will be used to grow into new markets, scale its leadership team, and enhance its product stack. After insurance marketplace Policybazaar's parent company PB Fintech went public in November 2021, media claimed that the insurtech business is aiming for the unicorn label. Turtlemint, an insurtech platform, said on April 29 that it has secured ...

Genies, a digital avatar firm, has raised $150 million in Series C fundraising at a $1 billion valuation, making it the first crypto-focused platform to achieve "unicorn" status. Silver Lake, a California-based private equity firm with $88 billion in assets as of 2021, led the investment round, with current investors Tamarack Global, BOND, and NEA also participating. Genies stated that the funds will be used to increase internal capacity in its engineering department as well as to invest in new technologies. Genies is an avatar technology firm that was founded in 2017 with the goal of targeting social media and messaging services. The startup helps users to develop avatars that can be used in virtual worlds. Its NFT marketplace, dubbed "The Warehouse," was created in collaboration with Dapper Labs. Through official relationships with Universal Music Group and Warner Music Group, Genies claims to have captured a 99 percent market share for celebri...