CoinSwitch Kuber is 2nd Indian crypto unicorn🦄
MyGlamm acquires The Moms Co, Mensa Brands takes majority stake, Funding Deals & more.
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CoinSwitch Kuber valued at $1.9B with $260M funding💸
India has its second crypto unicorn in less than two months. Bengaluru-based CoinSwitch Kuber on Wednesday announced a Series C funding round worth over $260 million led by US venture capital firm a16z (Andreesen Horowitz) and Coinbase Ventures.
The investment makes CoinSwitch the 30th unicorn startup in India, with a valuation of $1.9 billion, higher than CoinDCX’s $1.1 billion announced in August. Coinbase Ventures was also part of CoinDCX’s recent funding round.
CoinSwitch Kuber will also launch a new ecosystem fund, meant to invest in other crypto and blockchain companies in India.
MyGlamm acquires The Moms Co for Rs 500 crore🤱🏻
The Good Glamm Group (formerly MyGlamm) has acquired direct-to-consumer (D2C) mother and baby brand The Moms Co.
The Moms Co. is eyeing to touch a revenue run rate of Rs 500 crore in the next two years. This acquisition also marks India’s largest D2C transaction to ever take place in the beauty and personal care segment.
The company stated the partnership between the Good Glamm Group and The Moms Co. developed between the founders due to a shared vision of leveraging Content-to-Commerce as a growth engine.
Under the group, the brand will be able to leverage a large digital audience of over 100 million users across POPxo and BabyChakra.
Hot Shorts⚡
Qapita, an equity management platform, has raised $15 million in a Series A funding round led by East Ventures and Vulcan Capital to build an “operating system” for private markets in the Southeast Asia region.
Ozonetel, a provider of on-demand cloud communication/telephony solutions has raised $5 million in series A funding from Stakeboat Capital.
kWh Bikes, an electric scooter startup, has raised $2 million in a seed round led by LetsVenture, which also included Better Capital and Cloud Capital.
Mensa Brands takes majority stake in 10 consumer brands😎
Just five months after it was founded, Thrasio-style firm Mensa Brands has acquired 10 new-age brands in categories such as fashion, beauty and personal care, and home.
Mensa, founded by former Myntra CEO Ananth Narayanan, has acquired anywhere between 51% and 75% stake in these brands and will grow them along with their original founders, Narayanan said.
The company’s goal is to build a 'tech-led house of brands'. Mensa Brands is also aiming to take these brands globally, Narayanan said.
This business model—buying and scaling up online brands—is seeing increased traction in India.
Tweet of the day🐥
⏩ Invesco is trying to takeover ZEE in a clandestine manner: Subhash Chandra
⏩ OfBusiness was the only woman-led startup that entered the unicorn club this year.
"Life is not a matter of holding good cards, but of playing a poor hand well."
~ Robert Louis Stevenson
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