Ola Sports Car🏎, 5ire turns unicorn🦄, Sequoia- Tiger Global leads🤑

Ola Shares Plan on Sports Car, Blockchain platform 5ire turns unicorn, Sequoia, Tiger Global lead startup funding in Apr-Jun, Funding Deals and more.

Jul 18, 2022

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Ola CEO shares plan on sports car, upcoming update for e-scooters🏎

Ola founder and CEO Bhavish Aggarwal have announced that his company is planning to bring a new electric sports car for Indian consumers.

In a series of tweets, Aggarwal also detailed the upcoming MoveOS 3 update to the S1 series of electric scooters.

Bhavish Aggarwal @bhash

We’re going to build the sportiest car ever built in India! 🏎🏎🏎

In another tweet, the founder and CEO of the platform mentioned that the upcoming update is scheduled for Diwali.

"MoveOS 3 launch for everyone on Diwali this year. If MoveOS 2 was exciting, wait till you experience MoveOS 3," Aggarwal tweeted.

Blockchain platform 5ire turns 105th unicorn 🦄

5ire, a fifth-generation level one blockchain network, has raised $100 million in Series A funding from UK-based conglomerate SRAM & MRAM and entered into the coveted club of unicorns.

According to 5ire, it has become the fastest-growing blockchain unicorn in India and is now valued at $1.5 billion.

A brainchild of India-origin founders Pratik Gauri and Prateek Dwivedi and later joined by web3 financier Vilma Mattila, 5ire had earlier raised a funding of $21 million in its seed round.

5ire is a blockchain ecosystem that focuses on sustainability, technology and innovation to build the 5th industrial revolution (5IR). It empowers decentralized autonomous organizations (DAOs) and working groups to help accelerate the implementation of the United Nations’ Sustainable Development Goals (SDGs), therefore facilitating the transition from the 4IR to 5IR.

Faarms, an agritech startup, has raised $10 million (nearly Rs 80 crore) in the latest round of funding from a clutch of individual investors.
Hyperface, a Credit-card infrastructure provider started by Juspay cofounder Ramanathan RV, has raised $9 million in funding led by 3one4 Capital.
Marwari Catalysts’ portfolio startups raise Rs 1.5 crore from State and Central Government startup initiatives.

➡️ Check out our LinkedIn space to read more on the funding deals.

Sequoia, Tiger Global lead startup funding in Apr-Jun; fintechs attracted most funds💰

Venture capital firms Sequoia Capital and Tiger Global led funding in Indian startups during April-June, with the fintech sector attracting most of the USD 6 billion (about Rs 47,870 crore) investments made during the quarter, industry body Nasscom said in a report.

Fintech firms attracted about 26% of the total investments made during the quarter, followed by media and entertainment (19%), enterprise tech (16%), retail tech (9%), edtech (8%) and health tech (5%), according to the report.

Out of Tiger Global's total investments, 40% were in the fintech sector and 20% in the enterprise technology domain. For Sequoia, enterprise technology accounted for about 25% of the funding, and financial technology (fintech) 20%.

Around 60 percent of the investments by Tiger Global and Sequoia were made in the growth stage of the startups.