India #1 in startups, Slice - 41st🦄, Jio's hike📈
India #1 in startups, Slice - 41st🦄, Jio's hike📈
India leading the world in the field of start-ups, Slice joins unicorn club, Jio announces up to 21% hike, Funding Deals & more.
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India leading the world in the field of start-ups says, PM Narendra Modi👏🏻
Asserting that this is an era of start-ups, Prime Minister Narendra Modi on Sunday said India is leading the world in this field with more than 70 start-ups having crossed the valuation of USD 1 billion.
In his monthly Mann Ki Baat radio broadcast, the Prime Minister said that in any country having a large population of youth, three things -- ideas and innovation, passion to take risks and the 'can do' spirit-matter a lot.
When these three things come together, unprecedented results are achieved and miracles happen, he said. "These days we hear all around us, start-up, start-up, start-up. It is true that this is the era of start-ups and it is also true that in the field of start-ups, in a way, India is leading the world," Modi said.
"Till the year 2015, there used to be nine to ten unicorns in the country, you will be very happy to know that now India is flying high in the world of unicorns as well. According to a report, a big change has come this year and in just 10 months, a unicorn was made in India every 10 days," he said.
Today, there are more than 70 unicorns in India.
Talking about unicorns, here comes another one
Slice joins unicorn club after Tiger, others invest $220 mn🦄
Slice has become India’s latest unicorn after the fintech startup raised $220 million at a valuation of just over $1 billion.
The capital-raising was done as part of Slice’s Series B funding round led by New York-based investment firms Tiger Global and Insight Partners.
Slice is the 41st Indian startup to achieve unicorn status this year. A unicorn is a privately-held startup with a valuation of $1 billion or more.
Slice, owned by Bengaluru-based GaragePrenuers Internet Pvt. Ltd, is the 11th fintech startup to turn unicorn this year. With this round, the company has raised around $250 million in equity funding so far.
Slice allows users to pay bills, manage expenses and unlock rewards. It is focused on new-age millennials and Gen Z, with an average age of 27, who have largely been refused credit cards by large banks due to inadequate credit scores.
Hot Shorts⚡
Faasos parent Rebel Foods has topped up its Series F round with $14.5 million. The company had recently scooped up $175 million in this round at a $1.4 billion valuation to become the first full-stack foodtech brand to enter the unicorn club.
D2C home gardening brand Ugaoo has raised $2 million in a pre-Series A round led by DSG Consumer Partners and RPG Ventures.
Casual dining chain The Barbeque Company has secured $1.5 million (around Rs 11.1 crore) in its pre-seed funding round from a group of angel investors led by Nitesh Agarwal.
Edtech Startup Toppersnotes has raised $1 million in a seed round led by Inflection Point Ventures along with LetsVenture, PlanB Capital, Pulkit Agarwal, Ashish Sharma and other angels.
Reliance Jio announces up to 21% hike in tariffs📈
After Vodafone Idea and Bharti Airtel, Mukesh Ambani-led Reliance Jio on Sunday announced up to 21% hike in its prepaid tariffs from next month. The new unlimited plans will go live on 1 December and can be opted from all existing touchpoints and channels, Jio said.
The tariff hikes entail JioPhone Plan, Unlimited Plans, and data add-on, and range between 19.6% and 21.3%.
Here's a look at the latest plans:
Airtel and Vodafone Idea last week had announced up to 25% hike in their prepaid plans tariffs to improve financials.
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