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Indian startups cross $10 Bn🤑, Varun Dhawan invests in Curefoods💪🏻, Coinbase suspends UPI payments🙅🏻
Indian startup funding crosses $10 billion, Varun Dhawan invests in Curefoods, Coinbase suspends payments via UPI, Funding Deals & more.
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Indian startup funding crosses $10 billion for the third consecutive quarter🤑
The first three months of the current year have been strong for the Indian startup ecosystem with 14 unicorns being created with an infusion of $ 10 billion across 334 funding deals. Also, robust momentum has been witnessed in the M&A transactions of the startup ecosystem.
Further, in Q1, around 80 M&A transactions also took place in the start-up ecosystem, boosted primarily by roll-up e-commerce companies. Firms like Curefoods, Mensa Brands, GlobalBees, and MyGlamm which have M&A as their core business strategy remained as the top acquires in the period under review.
Varun Dhawan invests in Curefoods💪🏻
Cloud-kitchen operator Curefoods has on-boarded Bollywood actor Varun Dhawan as an investor and brand ambassador for its food brand EatFit.
Dhawan’s investment in the cloud kitchen operator comes along with the company's launch of its direct-to-consumer food ordering platform, www.eatfit.in.
Dhawan will appear in Curefoods’s marketing campaigns promoting healthy eating habits while also endorsing online ordering via eatfit.in.
Dhawan said he identifies with Curefoods and Eatfit’s mission to provide access to multiple food categories while featuring healthy options. Late last year, the actor invested an undisclosed amount in the nutrition brand Fast&Up.
Dyte, a live video and audio platform, announced a $11.6 million funding round led by Unbound, Sequoia Capital India's Surge and Nexus Venture Partners.
B2B wealth-tech platform BeyondIRR has secured seed funding from Zerodha’s Rainmatter and Sujeet Kumar, co-founder, Udaan.
Nord Security, the company behind NordVPN, has raised $100 million in its first external investment round from Novator Ventures, Burda Principal Investments and General Catalyst at a valuation of $1.6 billion.
Coinbase suspends payments via UPI in India🙅🏻
Three days after adding support for the popular Unified Payments Interface payment instrument in India, US cryptocurrency exchange operator Coinbase disabled the option to buy cryptocurrencies using the UPI in India on Sunday.
The app at present shows that the users can sell via the IMPS method. Buying option is unavailable at the moment.
The development follows a strange statement from the National Payments Corporation of India (NPCI), the governing body that oversees UPI in the country, which said hours after Coinbase’s India launch earlier this week that it was not aware of any crypto exchange using UPI payments instrument.
Coinbase plans to more than triple its number of employees in India this year to around 1,000, according to Chief Executive Officer Brian Armstrong.
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