Urban Company announces PSOP💆🏻♀️; DeHaat raises $60 Mn🌱; SoftBank to sell stake in PB Fintech☔
Urban Company grants shares worth Rs 5.2 cr, DeHaat raises $60 million, SoftBank to sell 5% stake in PB Fintech, Funding Deals and more.
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Urban Company grants shares worth Rs 5.2 crore to 497 gig workers💆🏻♀️
Online home services marketplace Urban Company has awarded stocks worth Rs 5.2 crore to 497 service partners under the Partner Stock Option Plan (PSOP) program.
Of the total recipients, about 30 percent were female service partners from the beauty and wellness vertical, the firm said in a statement. Bengaluru had the highest number of partner shareholders with 26 percent, followed by Delhi-NCR with 22 percent, it added.
The company in March announced the PSOP program for its service providers, where it will award stocks worth Rs 150 crore at near zero cost to thousands of service partners over the next 5-7 years.
The company has already received board approval for the first tranche of Rs 75 crore worth of stocks, to be disbursed over the next few years.
DeHaat raises $60 million funding co-led by Sofina, Temasek🌱
The investment round also saw participation from other investors, including RTP Global Partners, Prosus Ventures, and Lightrock India, the startup said.
DeHaat uses AI-enabled technologies to improve supply chain and production efficiencies in the farming sector. The Patna and Gurugram-based startup has built a last-mile supply chain in more than 110,000 villages across more than 150 districts through a digitized network of over 10,000 micro-entrepreneurs, called ‘DeHaat Centers’.
Proptech startup Blox has raised $12 Mn in a Series A funding round from its existing investors from Silicon Valley and new strategic and angel investors, including CRED’s founder Kunal Shah.
Fintech company Aye Finance has raised $10 million (about ₹71 crores) in funding from Zurich-based responsAbility Investments AG.
Leap.club, a community-led professional network for women, has raised $1 million in a new round led by Enzia Ventures.
PrimeOS, an android-based operating system for laptops, has raised $1 million in its seed round led by Kundan Group, Brindavan Group, and Infotel Business Solution.
Hardware wallet startup Cypherock has raised $1 million co-led by Consensys Mesh, Infinite Capital, Gnosis, Stefan George, Sandeep Nailwal, Mahin Gupta, OrangeDAO, Prasanna Sankar, and Furqan Rydhan.
SoftBank Group to sell 5% stake in PB Fintech today☔
SoftBank Group is likely to sell a 5% stake in Policybazaar parent PB Fintech through a block deal on Friday, various reports said on Thursday.
SoftBank is likely to sell 2.2 crore shares in the block deal at a base price of Rs 440, which is at a discount of 4.5% to Thursday’s closing price of Rs 461.
It aims to raise Rs 1,000 crore through the sale, after which it will hold a 5% stake in the online insurance aggregator.
Existing stakeholders of various listed new-age technology companies, including Paytm, Zomato and Nykaa, have been looking to partially offload their stakes amid major erosion in the value of these stocks.
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