Bullish on PhonePe : Walmart CEO 🎯, Razorpays's 5th buy 💸, Amagi is 12th Unicorn 🦄

Bullish on PhonePe - no call yet on Flipkart IPO, Razorpay makes its fifth acquisition, Amagi enters India's unicorn club, Funding Deals & more.

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Mar 17, 2022

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Bullish on PhonePe, no call yet on Flipkart IPO, says Walmart CEO🎯

Walmart Inc. CEO Doug McMillon said he's buoyant about the prospects of digital payment firm PhonePe but not yet ready to talk about the listing of its parent firm Flipkart, which the retail giant acquired for $16 billion in 2018.

He described the global economy as "choppy, inconsistent, volatile" and said recovery is going to take time. McMillon said he sees some easing of global supply chain disruptions with demand patterns returning to pre-pandemic levels.

McMillon said Walmart isn't focused on the kind of omnichannel strategy it has elsewhere when asked about the political debate in India over foreign direct investment, which is barred from multi-brand retail. The company wants a broader relationship with the government, he said, the idea being to bolster agriculture and neighborhood stores.

Razorpay makes its fifth acquisition, takes over IZealiant to bolster offerings🏦

Razorpay has announced its fifth acquisition by bringing into the fold Pune-based IZealiant, which provides payments technology solutions for banks. The value of the deal remains undisclosed.

With this acquisition, Razorpay is looking to strengthen its banking solutions arm as financial institutions increasingly look to adopt advanced yet secure solutions to keep pace with fast-evolving consumer needs and increasing regulations for digital payments.

Fintech startup Razorpay acquires IZealiant Technologies

Founded in 2015, IZealiant provides mobile-first, API-enabled, and cloud-ready payment processing products for banks and financial institutions.

Recently, Razorpay launched solutions such as Razorpay TokenHQ (an RBI-compliant card tokenization solution) and MandateHQ (a plug-n-play recurring payments interface) to help more than 45 partner banks overcome regulatory hurdles.

ConsenSys, a US-headquartered Ethereum and decentralized protocols software company, has closed a $450 million financing round led by ParaFi Capital, taking its valuation to $7 billion.
Multiplier, a business-to-business (B2B) enterprise employment platform, has raised $60 million in a funding round co-led by Tiger Global and Sequoia Capital India.
Health benefits startup ekincare has raised $15 million in a Series B funding round led by HealthQuad and Sabre Partners.
Healtech startup Curelink has raised $3.5 million in a seed funding round led by Elevation Capital and Venture Highway.
ShipsKart, a B2B supply chain e-commerce solution for the Maritime and Offshore domain, has raised a $2.7 million Series A round led by TMV and Hermes Offshore.
Cosmofeed, content monetization and consumption platform has raised $1.5 million in a seed funding round co-led by growx ventures, Waveform Ventures, and 9 Unicorns.
Health and fitness discovery platform Growfitter has raised $1 million in a funding round led by Inflection Point Ventures.

Amagi enters India's unicorn club with $95 million funding from Accel, others🦄

Amagi, a cloud SaaS technology provider for broadcast and streaming television, is the latest entrant to India's growing startup unicorn club, with a $95 million fundraise led by Accel. This fundraise brings the company's total financing to more than $245 million to date.

The funding will enable the company to accelerate business expansion across multiple geographies and its product portfolio in the media and entertainment (M&E) market.

Baskar Subramanian, Co-founder & CEO - Amagi

This investment comes on the back of a 59% surge in new customers in 2021 that resulted in a 112% year-on-year growth in ad impressions (through its dynamic ad insertion platform) and a 108% year-on-year revenue growth, the company said.

Its clients include large media conglomerates such as NBCUniversal, Paramount, A+E Networks UK, Connected TV players such as Samsung TV Plus, Roku, Vizio, and LG Channels, content owners such as Tastemade, USA Today, and AccuWeather and streaming platforms such as Fubo, STIRR, Redbox, and Rakuten TV among others.

New Unicorn 🦄