STARTUP DIGEST: Here're top stories of the day

Updated : January 19, 2021 07:55 PM IST

There were several developments in the startup space during the day on Tuesday. Here are important startup updates of the day:

WhatsApp: Govt flags concerns

Government writes to WhatsApp CEO Will Cathcart to withdraw its proposed terms of service and privacy policy for indian users -- Red flags its concerns regarding the messenger service's plan to integrate user data with other facebook companies.

FUNDING OF THE DAY

• Dunzo raises $40 million from new & existing investors

Hyper-local player Dunzo has raised $40 million in a fresh round of funding capital from new and existing investors. The list of investors include Google, Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada, and Alteria. With a gross merchandise value growth of 2X over the past year, Dunzo is now a $100 million annualised GMV business.

• DeHaat raises $30 million Series C led by Prosus Ventures

Full-stack Agritech Platform DeHaat Raises US$30 Million Series C led by Prosus Ventures. RTP Global co-invested in the round with participation from existing investors, Sequoia India, FMO, Omnivore & AgFunder. With the Series C Investment, the company plans to strengthen the technology platform and expand geographically to other parts of India.

• Salesforce Ventures invests in Darwinbox

Enterprise HR technology platform Darwinbox closes a $15Mn funding round led by Salesforce Ventures. This is one of Salesforce Ventures’ first investments in India. With this partnership, Darwinbox aims to accelerate digital HR adoption, deepen product offering and further their mission to become market leader in the HCM space.

• Ripplr secures $3 million in Series A funding

Digital distribution and logistics ecosystem platform, Ripplr has raised $3 million in Series A funding from private equity fund, Zephyr Peacock India Growth Fund, Chand Family Office – Yukti and existing investor, 3one4 Capital

• Udayy raises $2.5 mn from Alpha Wave Incubation

Live-learning edtech platform Udayy has raised $2.5 million in a seed funding round led by Alpha Wave Incubation (AWI), managed by Falcon Edge Capital and InfoEdge Ventures. The round also saw participation from VC Better Capital, Cred founder Kunal Shah and other angel investors.

• BeyondSkool raises seed funding of $2 million from Tomorrow Capital

Online upskilling academy BeyondSkool, has raised seed funding of $2 million from Tomorrow Capital. BeyondSkool plans to utilize the amount for expanding its product offering, maximizing technology integration for enhanced learning, and scaling up business operations. Furthermore, the platform will also look to create high impact marketing, expand its team across verticals and build a state-of-the-art ‘LIVE Online Learning’ platform.

• Venture Catalysts leads $2 million round in CreditEnable

AI-driven SME credit marketplace CreditEnable has raised $2 million in an investment round led by Venture Catalysts along with its UK arm, JPIN Venture Catalysts. The investment will be used to continue the development of CreditEnable’s technology platform and expand the firm’s user base.

• Titan Capital invests in ClaimBuddy

Insurtech start-up ClaimBuddy has raised an undisclosed amount in the seed funding round led by Titan Capital, angel fund First Cheque, and angel investors. . With a fresh influx of capital, the company will focus on business expansion across India and technology investment.

Hike shuts messaging service

Homegrown instant messaging app Hike Sticker Chat, formerly Hike Messenger, has been officially shut down and was removed from Google Play Store and App Store. Hike users were informed in advance and were given time till 14 January to migrate data, according to the company. The company will now be focusing on its social products Vibe and Rush which will use Hike emojis and include minigames

ANAROCK acquires society and apartment management technology platform ApnaComplex

Property Consultant Anarock has acquired NetAway’s apartment management PropTech platform ApnaComplex for an undisclosed amount. The acquisition gives exit to Apna COmplex’s investors by Goldman Sachs, Tiger Global, UC-RNT Fund, IDG India, Chiratae Ventures and InnoVen Capital.

Amazon partners with Startup India to boost ecommerce exports from India

Amazon has partnered with Startup India to launch an accelerator program to help early-stage startups in the consumer products space to launch in international markets and create global brands from India through Amazon’s Global Selling program.

As part of the Startup Accelerator, Amazon has constituted a mentorship board consisting of Amazon leaders from India and across the world, VCs and senior leaders from Startup India, Invest India who will engage with emerging brands and provide them tailored resources, 1:1 mentorship on the global demand patterns and insights on building successful exports business through ecommerce.

Amazon will also host open virtual mentorship sessions focused on peer learning by inviting veteran entrepreneurs and members from its mentorship board for startups, to network and learn from their existing ecosystem. The accelerator program will provide startups an opportunity to showcase their business proposition to partner VC firms – Sequoia Capital India and Fireside Ventures and a chance to win a total equity free grant of $50,000 from Amazon.

US asks Australia to scrap proposed laws to make Facebook, Google pay for news

US government has asked Australia to scrap proposed laws that will make it the first country in the world to force Facebook Inc and Alphabet Inc’s Google to pay for news sourced from local media outlets. In a submission asking the government to “suspend” the plans, assistant U.S. trade representatives Daniel Bahar and Karl Ehlers, suggested Australia instead “further study the markets, and if appropriate, develop a voluntary code.”

Published : January 19, 2021 07:54 PM IST

STARTUP DIGEST: Here're top stories of the day

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