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IndiaStack, a digital infrastructure🏢
Quick look at everything that went down this week.
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IndiaStack is a one-of-a-kind digital infrastructure💻
India is expected to witness massive disruption in healthcare, agriculture, education, credit for small business, and digital commerce in the next few decades, and the model it adopts for this transformation will be unlike that of any other country.
Open standard public technology platforms such as Aadhaar, United Payments Interface (UPI), DigiLocker, eKYC, and eSign — collectively called the IndiaStack — will become the key digital rails for technology transformation of sectors in the coming decades. Artificial intelligence will also play a major role in digital transformation given the scale, population, and diverse languages of the country.
Here's a rundown of everything that happened this week🚄
Eruditus raises $650 Mn, valuation quadruples to $3.2 Bn🤯
Mumbai-based Eruditus, which works with top universities globally to offer more than 100 executive-level courses to students in over 80 nations, said on Thursday it has raised $650 million in a new financing round.
Dream Sports sets up $250 mn venture fund💰
Dream Sports, the parent company of India's only gaming unicorn Dream11, has set up a $250 million corporate venture capital (CVC) fund to invest in sports, online gaming, and fitness-tech startups. These investments are part of Dream Sports’ broader push to become a one-stop solution for sports.
CoinDCX is India’s first crypto unicorn🤑
CoinDCX became India's first cryptocurrency unicorn after raising ₹6.70 billion ($90 million) from investors. In India, crypto investments grew to nearly $6.6 billion in May from some $923 million in April 2020.
UpGrad is India's 21st startup unicorn of ’21🦄
UpGrad has raised $185 million from investors, valuing the company at $1.2 billion. UpGrad set aside $250 mn for mergers and acquisitions over the next seven to nine months last month.
Concerns over Apple’s new child-safety tool🎲
Concerns have been raised by privacy groups, industry executives, and academics about Apple's new child-safety measures for its devices.
DoorDash in talks to buy Instacart for $40-$50 Bn🚚
US food delivery firm DoorDash Inc. has held talks over the past two months to buy grocery delivery company Instacart for a likely price of between $40 billion and $50 billion.
Done Deals 🤝🏻
VerSe Innovation, the parent company of Dailyhunt, an online news aggregator, and Josh, a short-video platform, has raised $450 million in a funding round.
Heads Up For Tails, a pet care company, raised $37 million (about 277 crores).
Miko, which makes companion robots for children, has raised $28 million for product development and strengthening global alliances.
Pickrr, an end-to-end logistics technology startup, has raised $12 million (about Rs 85 crore) in a Series B funding round.
Neuron7.ai, a cloud-software firm, has emerged from the shadows with a $4.2 million seed investment headed by Nexus Venture Partners and Battery Ventures.
Ping, a conversational commerce platform, has raised $3.5 million in a venture fundraising round headed by Elevation Capital.
Grip Invest, a financial technology platform, has raised $3 million in a Series A fundraising round.
Log 9 Materials, a startup developing advanced battery and fuel technology for electric vehicles, has raised $8.5 million in a round of fundraising.
Have a wonderful weekend!👋🏻
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