Crypto signups jump🔥, $240 Mn invested in Firstcry👼🏻, Gupshup acquires💰
Crypto exchanges signups jumped 30-50%, $240 million investment in FirstCry, Gupshup acquires Knowlarity, Funding deals & more.
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Crypto exchanges say signups jumped 30-50% on budget day💰
While crypto exchanges and investors digest the implications of India’s 30% tax on earnings from crypto assets, there has been an early rush to sign up to crypto platforms.
That’s according to data from crypto exchanges WazirX, CoinSwitch Kuber and Unocoin, all of which said the number of users who signed up on Tuesday was 30-50% higher than on the previous day.
“The spike in signups shows that the majority of people, especially corporates who have been sitting on the sidelines because of uncertainties, will now be able to participate in crypto. Overall, it's a positive move for the industry,” said Nischal Shetty, CEO of WazirX.
But a spokesperson from CoinSwitch Kuber said the 30% spike in user signups it saw on Tuesday was due to its ongoing investor education initiative and could not be seen as a reaction to the budget.
India's sovereign wealth fund leads $240 million investment in FirstCry👼🏻
India’s sovereign wealth fund –The National Investment and Infrastructure Fund (NIIF) — has made its first bet on the country's internet economy with ecommerce firm FirstCry, people aware of the matter said. NIIF has led a $240 million secondary funding round in FirstCry, in which it has bought shares worth $100 million.
The deal has been approved by the Competition Commission of India (CCI) as well.
FirstCry’s existing investor Premji Invest also bought additional shares in the company in the new round, in which SoftBank sold the largest chunk of shares.
Firstcry had conducted a $315 million secondary share sale in March last year and the latest transaction marks investor exits of $555 million in the last one year.
Headout, an online experiences marketplace for travellers, has raised $30 million (Rs 224.3 crore) in its extended series B financing round led by Glade Brook Capital.
Social-tech startup Un1Feed has raised $1 million (Rs 7.5 crore) in a funding round led by Silicon Valley-based community-focused venture capital fund, Neo.
Gupshup acquires Knowlarity to strengthen its Conversational Engagement portfolio💬
Conversational messaging platform Gupshup has acquired cloud telephony company Knowlarity Communications for an undisclosed sum.
This is Gupshup’s second acquisition in the last four months, following the acquisition of RCS (Rich Communications Services) platform Dotgo.
Knowlarity operates in the voice-based Conversational Engagement market, which is poised to transform contact-centers, IVR systems, and smart voice systems, accounting for a total addressable market (TAM) of nearly $18 billion in 2024.
In 2021, Gupshup entered the unicorn club with a valuation of $1.4 billion after raising $340 million from Tiger Global, Fidelity Management and Research Co. LLC and other marquee global investors.
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