25 Unicorns in 8 months🦄
25 Unicorns in 8 months🦄
FB's initiative for SMEs, Zydus Cadila's needle-free COVID-19 vaccine, and more.
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India has minted its 25th startup unicorn of 2021—this time in the manufacturing sector.
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Zetwerk to turn unicorn with $150-million funding🤩
Zetwerk Manufacturing has raised $150 million in a Series E fundraising round at a valuation of $1.5 billion, making it the 25th Indian startup to reach unicorn status this year.
Founded in 2018 by IIT alumni, Zetwerk helps small and medium enterprises (SMEs) bring their digital designs to life. It currently operates in more than 25 industry segments—from apparel to aerospace.
CEO Acharya had said that the company’s revenue grew nearly three times over the previous year to Rs 949 crore. He expects the growth momentum to be sustained in 2020-21, on the back of a Rs 4,500-crore order book.
Facebook India’s initiative for SMEs💁🏻♂️
Facebook India has launched an initiative to make it easier for small businesses who advertise on its platforms to obtain financing from credible lenders.
Facebook has stated that it will keep an arm's length distance from these lenders. According to the corporation, its purpose is to define the criteria for lenders, who must release loans within five days of the application process's conclusion.
The interest rate is 17-25%. The loan size will be between Rs 5 lakh and Rs 50 lakh.
Hot Shorts⚡
Zupee, a skill-based gaming firm, announced a $30 million funding round on Tuesday, with a pre-money valuation of $500 million. Zupee has so far raised $49 million in total investment. The startup already has a user base of over 10 million people.
Gurugram-based 1K Kirana Bazaar (commonly known as 1K) announced a $7 million Series A fundraising round headed by Info Edge Ventures and Falcon Edge. So far, the startup claims to have 150 touchpoints and 100,000 customers.
Hiration, a career software that uses Artificial Intelligence (AI) and Machine Learning (ML) to help professionals find a new job, has raised Rs 21 crore funding.
Zydus Cadila's needle-free COVID-19 vaccine approved💉
The Drugs Controller General of India (DCGI)’s emergency use authorization for Zydus Cadila’s covid vaccine may finally pave the way for educational institutions to reopen. The vaccine is expected to be available for children above 12 years by the end of September.
The DCGI approved the use of ZyCoV-D in India’s vaccination program on Friday.
ZyCoV-D, which has been indigenously developed by the Ahmedabad-based company, is the world’s first DNA-based vaccine for covid, which will be administered in both children above 12 years and adults.
Interim results from phase 3 clinical trials of the Zydus vaccine, involving more than 28,000 volunteers, showed an efficacy of 66.6% for symptomatic RT-PCR positive cases.
Tweet of the day🐥
✅ Tata Realty to invest Rs 4,000 crore in residential, commercial projects over the next 2 years.
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