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STARTUP DIGEST: Here’re top stories of the day

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There were several developments in the startup space during the day, which include Flipkart eyes overseas listing as early as 2021, Acko raises $60 million, Virtual events startup Airmeet raises $12 million, IAN Fund invests Rs. 3.5 crores in Farmers Fresh Zone, Delhivery planning to offer IPO Soon, and Entri ropes in Robin Uthappa as its brand ambassador.

STARTUP DIGEST: Here’re top stories of the day
There were several developments in the startup space during the day, which include Flipkart eyes overseas listing as early as 2021, Acko raises $60 million, Virtual events startup Airmeet raises $12 million, IAN Fund invests Rs. 3.5 crore in Farmers Fresh Zone, Delhivery planning to offer IPO Soon, and Entri ropes in Robin Uthappa as its brand ambassador. Here’re the top startup stories of the day:
1. Flipkart eyes overseas listing as early as 2021
Walmart Inc-controlled Indian ecommerce firm Flipkart is preparing for an initial public offering overseas as early as 2021, which could value the firm up to $50 billion, sources familiar with the company's plans told Reuters.
Bengaluru-based Flipkart, which vies with players such as Amazon.com's local unit in India and India's Reliance Industries, will be aiming for a valuation in the $45-$50 billion range, according to one source with knowledge of the matter.
Ecommerce giant Flipkart has also raised $62.8 milliom from China-based gaming and social media giant Tencent, as per paper.vc.
2. Funding of the day
Acko raises $60 million funding led by Munich Re Ventures
Digital-only general insurer Acko raised $60 million funding led by Munich Re Ventures. Existing investors including Amazon, RPS Ventures and Intact Ventures Inc, the corporate venture arm of Canada’s largest property & casualty insurer also participated in this funding round. This is Munich Re Ventures' first investment in India.
Funds will be used to accelerate its growth in existing lines and expansion into new product lines.
Virtual events startup Airmeet raises $12 million led by Sequoia India
Virtual events platform Airmeet raised $12 million in a Series-A round of funding led by Sequoia Capital India and Silicon Valley-based VC firm Redpoint Ventures. Its existing investors, including Accel India, Venture Highway and Global Founders Capital, also participated in the round.
The funds will be used to accelerate technology development, grow the remote-only 60-member team across six countries to 100 and expand Airmeet’s customer base globally.
IAN Fund invests Rs. 3.5 crore in Farmers Fresh Zone
Agri tech startup Farmers Fresh Zone raises Rs 3.5 crore led by IAN Fund. With this round, Farmers Fresh Zone’s overall fund-raising has crossed Rs. 6.5 crore.
With this funding, the agri tech startup plans to foray into new markets like Bangalore.
The Kochi-based agri-tech startup aims at unlocking access to safe-to-eat, pesticide-free fruits and vegetables directly sourced from farmers. The startup has so far connected over 1500 farmers to urban consumers.
3. Delhivery planning to offer IPO Soon: Reports
Softbank backed logistics unicorn Delhivery is planning to go public in the next 12-18 months according to reports. The company joins a growing list of Indian startups looking to raise money and pave exits for their investors.
Recently Zomato and Mobikwik too publicly announced their plans to go in for Initial Public Offerings.
Food tech platform Zomato founder and CEO Deepinder Goyal told employees that it plans to go for an initial public offering (IPO) in the first half of 2021.
Fintech company MobiKwik also said it had "kickstarted" the process for a public listing by 2022 and elevated senior vice president Chandan Joshi as co-founder.
4. Entri ropes in Robin Uthappa as its brand ambassador; partners with Hotstar for IPL campaigns
Local language learning app for jobs Entri has signed up former Indian and current Rajasthan Royals cricketer Robin Uthappa as its brand ambassador. It has also partnered with Hotstar to run ad campaigns in 5 different languages throughout the upcoming IPL 2020 season.
With this move, Entri expects to accelerate its user adoption across India and especially in the Hindi belt.
This is Entri’s first major campaign across India and marks the on-boarding of a local language ed-tech player on the Dream 11 IPL 2020.
5. Apple Event | Apple iPad Air 2020, Apple Watch Series 6 launched alongside budget iPad 8th gen
Apple unveiled a range of new products and services at the Time Flies event. The Apple event was focused on the new iPad launch alongside the Apple Watch Series 6 and an affordable Apple Watch SE. Apple also introduced an all-new service called Fitness+, which will be a part of the bundled Apple One services package.
The biggest highlight of the premium Apple Watch Series 6 was the blood oxygen sensor and app which essentially measures the oxygen saturation of the user’s blood. During the keynote, Apple said that it is partnering with health networks and researchers to study the data that emerges from the new blood oxygen feature. Apple also said that the eventual plan is also to see if it can detect COVID-19 in a user.
6. Google pulls another 299 China-linked YouTube channels
About a month after Google deleted more than 2,500 China-linked YouTube channels alleging disinformation, the Alphabet-owned company has deleted another 299 YouTube channels linked to China.
A statement released on the matter by Google on September 15 read: “We terminated 299 YouTube channels as part of our ongoing investigation into coordinated influence operations linked to China. These channels mostly uploaded spammy content in Chinese about music, entertainment, and lifestyle. A very small subset uploaded content in Chinese about COVID-19 and current events in Hong Kong.”
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