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Elon Musk sells Tesla shares worth $5 billion, BharatPe to launch ‘Merchant Shareholding Program’, Agnikul showcases its rocket in Dubai, Funding Deals & more.
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Elon Musk sells Tesla shares worth $5 billion after Twitter poll💸
Tesla CEO Elon Musk sold shares in the company worth about $5 billion, he reported in filings, just days after he asked his 63 million Twitter users whether he should sell 10% of his stake in the electric carmaker.
In his first share sale since 2016, Musk's trust sold nearly 3.6 million shares in Tesla, worth around $4 billion. He also sold another 934,000 shares for $1.1 billion after exercising options to acquire nearly 2.2 million shares.
The 4.5 million shares equate to about 3% of his total holdings in Tesla, which makes up the lion’s share of his estimated $281.6 billion fortune.
Musk has more than 20 million further stock options that are due to expire in August 2022.
Meanwhile, Musk’s SpaceX and NASA launched four astronauts into orbit today, sending a veteran spacewalker, two younger crewmates chosen for future lunar missions and a German materials scientist to the International Space Station.
BharatPe to launch ‘Merchant Shareholding Program’ for its merchant partners📊
Fintech unicorn BharatPe has announced the launch of the ‘Merchant Shareholding Program’ (MSP) for its merchant partners.
The company will be rolling out this program to its 7.5 million+ existing merchant partners and extend this to new merchants who join it.
BharatPe will be creating an equity pool structure worth up to $100 million for MSP to be allotted to eligible merchants over the course of the next four years. The company is aiming for the MSP pool to be worth close to $1 billion by the time it goes public, it said in a statement.
“The folks who contribute to MAUs / DAUs / revenue of start-ups and therefore, the valuation, don’t get any equity upside or even allocation in IPOs. We will change it at BharatPe by making our merchants part equity owners and giving them the IPO upside through the first-of-its-kind program in the world,” said Ashneer Grover, Co-Founder and Managing Director, BharatPe.
Wakefit, a home and sleep solutions company has raised $28 million (Rs 200 crore) in a Series C funding round from investors led by US-based SIG, a global trading and investment firm headquartered in Pennsylvania.
Cradlewise, a Silicon Valley-based startup that makes smart cribs for babies, has raised $7 million in a seed funding round led by early-stage venture capital firm Footwork.
CapGrid, a B2B commerce startup specialising in sourcing and procurement of direct-material supplies, has raised Rs 4.1 crore seed funding from Anicut Angel Fund, Axilor Ventures and Firstcheque.
Exotel, a cloud telephony firm, has acquired chatbot developer Cogno AI in a cash-and-stock deal, as part of its plans to build a complete customer engagement platform.
Agnikul showcases its Made In India rocket in Dubai🚀
IIT Madras-incubated space tech startup Agnikul has showcased its full-scale second-stage rocket engine – Agnilet - at the International Astronautical Congress (IAC) and the World Expo in Dubai.
The space tech start-up also inked multiple agreements with various stakeholders in the event which will help the company launch its vehicle in 2022.
Agnilet is a single-piece 3D printed engine, fully designed and manufactured in India. It was successfully test-fired in early 2021 by Agnikul.
The company signed an MoU with NPC Spacemind to provide end-to-end solutions for its customers, as NPC manufactures advanced state-of-the-art satellite subsystems and small satellites deployers.
Agnikul also signed an agreement with India-based Asaco which will help the start-up realise various structural subsystems of Agnibaan.
Tweet of the day🐥
💅🏻 Nykaa IPO: Alia Bhatt, Katrina Kaif earn 10X returns from investments
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