Sequoia closes largest India fund💸, PhysicsWallah plans on personal coaching👨🏻🏫, Crypto m-cap under $1 Tn📉
Sequoia closes largest India and SEA startup fund, PhysicsWallah plans personal coaching push, Crypto market cap back under $1 trillion, Funding Deals & more.
Start your day, the smart way!
1 Mail | 2 Minutes | 3 Stories
Want this in your inbox?
Sequoia closes largest India and SEA startup fund at $2.8 billion💸
Sequoia Capital has raised $2.8 billion to deploy across startups in India and Southeast Asia, the largest dedicated corpus for the region by a risk investor.
It will invest $2 billion across its India venture and growth investments, while the remaining will go to Southeast Asian companies.
The Silicon Valley venture capital firm has backed Indian startups such as Zomato, Freshworks, Meesho and Byju’s. Globally, the VC firm is well known as an early backer of tech giants Google, Apple and WhatsApp.
This is its largest India-focussed fund, and also exceeds those raised by other private equity and VC firms such as Edelweiss Alternative Asset Advisors ($1.3 billion), Brookfield Asset Management ($1.04 billion), ChrysCapital ($950 million) and Kedaara Capital ($750 million), as per data from Venture Intelligence.
Newly-minted unicorn PhysicsWallah plans personal coaching push👨🏻🏫
Edtech unicorn Physics Wallah will invest significantly in the personal coaching segment and introduce regional language integration on its app and online platform, co-founder Alakh Pandey told.
“Within the next 35 days we will be launching a beta version of the personal coaching service, and the price will be disruptive. And we will be introducing our courses in 4-5 different Indian languages to start with,” Pandey said.
The bootstrapped startup raised $100 million last week in its maiden funding round, led by WestBridge Capital and GSV Ventures, making it the latest edtech firm to enter the unicorn club.
Hot Shorts⚡
Business-to-business construction material startup Infra.Market has raised $50 million in growth capital from Liquidity Group’s Mars Unicorn Fund.
Sunshine Teahouse Pvt. Ltd., the parent company of Chaayos, raised $45 million as part of its Series C funding round led by Alpha Wave Capital at a $250 million valuation.
Skincare brand Foxtale has raised $4 million led by Matrix Partners India.
QueueBuster, a mobile-based point-of-sales startup, has closed a $8.16 million funding round led by Chiratae Ventures, Omidyar Network India and Flourish Ventures.
Online test preparation platform Toprankers has raised $4 million in a fresh funding round led by Sixth Sense Ventures.
➡️ Check out our LinkedIn space for more on the funding deals.
Crypto market cap back under $1 trillion, bitcoin below $24,000📉
The total market capitalisation of all crypto assets fell below $1 trillion for the first time since breaching that level for the first time last year.
The crypto market cap stood at $970 billion at 2.50 pm on June 13, according to market tracker coinmarketcap.com. By 5.15 pm, it had lost another $10 billion.
The crypto market hit new peaks in 2021 amid a historic bull run. It breached $3 trillion in market cap last November after surpassing $1 trillion in February.
But the prices of bitcoin and other crypto-assets are down 20-40% in just the past seven days.
Tweet of the day🐥
📸 Follow us on Instagram.
Other Top Stories
👽 Elon Musk to address Twitter employees for the first time since deal
📉 Asian stocks slide as US indices tip into a bear market
"Words can inspire, thoughts can provoke, but only action truly brings you closer to your dreams."
- Brad Sugars
Thanks for reading😊
Hit Like❤️. Share with your friends/colleagues, if you enjoyed the newsletter.