Week in review π (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
ππ» Monday
ONDC may go live in four more cities this weekπ
Ashneer Grover sets up a new firm, and names it βThird Unicornβπ¦
Twitter hires US law firm Wachtell to sue Elon Musk after pulling out of $44B dealβοΈ
ππ» Tuesday
Unacademy founders take pay-cut as the edtech unicorn aims to go public in 2 yearsπ
MFine merges with LifeCell International's diagnostics arm after laying off over 400 staffπ¬
Razorpay gets in-principle approval from RBI for payment aggregator licenceπ΅
ππ» Wednesday
Lightspeed raises $500 million to invest in startups across India, Southeast Asiaπ°
Shikhar Dhawan collaborates with Bliv. Club and WIOM to launch the first metaverse sports cityπ
RBI fines Ola Financial Rs 1.67 crore for flouting KYC, PPI rulesβ οΈ
ππ» Thursday
OneCard becomes unicorn with over $100 Mn Series D roundπ¦
Ola Electric invests $100 million in battery cell R&Dπ
Agnikul Cosmos opens India's first private rocket engine factoryπ
ππ» Friday
upGradβs subsidiary firm acquires Wolves Indiaπ©π»βπ»
Netflix ties up with Microsoft to roll out ad-supported plansπΊ
Internet body IAMAI to dismantle Blockchain and Crypto Assets Councilπ π»ββοΈ
Letβs 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.
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Have a wonderful weekend!π₯³
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