There were many developments in the startup space during the day, which include Twitter confirms account of India PM Modi's personal website hacked, Livspace raises $90 million, Avail Finance raises $11.5 million, WinZO raises $18 million in Series-B funding, Railofy raises Rs 70 million from Chiratae Ventures, BodyGuard’s ‘Patriot’ enables users to identify origin of their apps & flow of their data. Here’re the day’s update:
Twitter confirms account of India PM Modi's personal website hacked
Twitter confirmed on Thursday that an account of Indian Prime Minister Narendra Modi's personal website was hacked with a series of tweets asking its followers to donate to a relief fund through cryptocurrency. The incident comes after several Twitter accounts of prominent personalities were hacked in July.
Twitter said it was aware of the activity with Modi's website account and has taken steps to secure it. "We are actively investigating the situation. At this time, we are not aware of additional accounts being impacted," a Twitter spokeswoman said in an emailed statement.
Modi's office did not immediately respond to a request for comment on the tweets posted on the account @narendramodi_in.
Livspace raises $90 million
Home interiors and renovation platform Livspace has raised $90 million in an oversubscribed round led by Kharis Capital and Venturi Partners. The Series D round also included participation from new investors including FFP, Peugeot Group’s holding company, and EDBI. Existing investors Ingka Investments, TPG Growth, Goldman Sachs, UC-RNT and Bessemer Ventures also participated.
The company said the latest capital infusion will be utilized to fund new market expansion, further development of the technology platform, expansion of supply chain, creation of new market offerings and private labels in APAC.
Matrix-backed Avail Finance raises $11.5 million
Fintech startup Avail Finance raises $11.5 million in a Series B round of funding. The investment round was led by Alpha Wave Incubation (AWI), a $300m venture fund. This round also saw participation from existing investor Matrix Partners India.
As part of this investment from AWI, Avail Finance will set up a team in Abu Dhabi and use the Emirate as its regional headquarters. It aims at building a strong talent base of Data Scientists, Product Managers, and Engineers there.
WinZO raises $18 million in Series-B funding
Vernacular entertainment, WinZO raises $18million Series B investment round led by global interactive entertainment fund, Makers Fund based in Singapore, and New York based Courtside Ventures. Both funds are making their first ever investment in India through WinZO.
With this funding WinZO plans to strengthen its content pipeline, captivate mobile-first consumers and their gaming needs, and become the go-to gaming app in India.
The company claims that it revenue has grown 1500 percent and acquired 20 million users in the last 12 months.
Railofy raises Rs 70 million from Chiratae Ventures
WL & RAC protection startup Railofy raises Rs 70 million in seed round from Chiratae Ventures to solve the Waitlist problem in India.
Railofy will use this funding to scale presence across India post lockdown. Founded in 2019 by Rohan Dedhia, Vaibhav Saraf and Hrishabh Sanghvi, Railofy started trials in January 2020 on select trains originating from Mumbai. The team claims that within 1.5 months of operations, which was before the lockdown
BodyGuard’s ‘Patriot’ enables users to identify origin of their apps & flow of their data
BodyGuard, a one click mobile security app by new age mobile-first cyber security enterprise, SafeHouse Technologies has introduced a new feature called ‘Patriot’.
The new feature, Patriot claims to identify the country of origin for all the apps on users phone, classify whether apps are suspicious or not, and enable users to block & delete these apps at their will.
Along with patriot, BodyGuard has also introduced an app lock feature ‘Airtight’. With Airtight, users can add an extra layer of security to any of the applications on their smartphones
SoftBank bets on TikTok in India: Reports
As per reports SoftBank Group Corp. is exploring assembling a group of bidders for TikTok’s India assets and has been actively looking for local partners, according to people familiar with the matter.
The Japanese conglomerate, which owns a stake in TikTok’s Chinese parent ByteDance Ltd., has also held talks with the heads of India’s Reliance Jio Infocomm Ltd. and Bharti Airtel Ltd. over the past few months, people said, asking not to be identified because the details are private. While discussions have fizzled since, SoftBank is still exploring options, according to the people.