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.
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A Quick Recap of the Week
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⚖️
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💵
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⚠️
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🚀
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.
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.
Have a wonderful weekend!🥳
Thanks for reading😊
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