Week in review 🚀 (July 11 - July 16)
A quick rundown of the startups that made headlines this week. Funding and acquisitions in Indian startups this week.
Start your day with tech stories that matter!
Daily startup insights you can read in 2 mins, every day for free.
A Quick Recap of the Week
👉🏻 Monday
ONDC may go live in four more cities this week🛒
Ashneer Grover sets up a new firm, and names it ‘Third Unicorn’🦄
Twitter hires US law firm Wachtell to sue Elon Musk after pulling out of $44B deal⚖️
👉🏻 Tuesday
Unacademy founders take pay-cut as the edtech unicorn aims to go public in 2 years📊
MFine merges with LifeCell International's diagnostics arm after laying off over 400 staff🔬
Razorpay gets in-principle approval from RBI for payment aggregator licence💵
👉🏻 Wednesday
Lightspeed raises $500 million to invest in startups across India, Southeast Asia💰
Shikhar Dhawan collaborates with Bliv. Club and WIOM to launch the first metaverse sports city🏏
RBI fines Ola Financial Rs 1.67 crore for flouting KYC, PPI rules⚠️
👉🏻 Thursday
OneCard becomes unicorn with over $100 Mn Series D round🦄
Ola Electric invests $100 million in battery cell R&D🔋
Agnikul Cosmos opens India's first private rocket engine factory🚀
👉🏻 Friday
upGrad’s subsidiary firm acquires Wolves India👩🏻💻
Netflix ties up with Microsoft to roll out ad-supported plans📺
Internet body IAMAI to dismantle Blockchain and Crypto Assets Council🙅🏻♂️
Let’s move on to the top funding deals from the week.
Funding Deals
5ire, a fifth-generation level 1 blockchain network has raised $100 million in a funding round from UK-based conglomerate SRAM & MRAM.
Detect Technologies, an artificial intelligence-based software provider, has raised $28 million in a funding round led by Prosus Ventures.
Wysa, an artificial intelligence platform for mental health, has raised $20 million from HealthQuad and British International Investment.
Vegrow, a business-to-business (B2B) agritech marketplace for fruits, has raised $25 million (about Rs 198 crore) in its series B investment round led by Prosus Ventures.
Biotech startup String Bio has secured $20 million in the first close of its Series B round from Woodside, Ankur Capital, Dare Ventures, Redstart and Zenfold Ventures among others.
Housing finance provider Sewa Grih Rin Ltd has raised $20 million, led by Norway-based Nordic Microfinance Initiative (NMI) and Women's World Bank Asset Management.
Wheelocity, a supply-chain network for fresh commerce, has raised $12 million (about Rs 95 crore) in its Series A round, led by Lightspeed Venture Partners.
Check our socials Instagram, Twitter, LinkedIn. Feel free to drop feedback.
Have a wonderful weekend!🥳
Thanks for reading😊
If you enjoy these emails, please tell a friend about Rise & Shine. It’ll help us reach curious people.