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IndiaStack is a one-of-a-kind digital infrastructureš»
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 ā collectively called the IndiaStack ā 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 weekš
Eruditus raises $650 Mn, valuation quadruples to $3.2 Bnš¤Æ
Mumbai-basedĀ Eruditus, which works with top universities globally to offerĀ more than 100 executive-level coursesĀ to students in over 80 nations, said on Thursday it hasĀ raised $650 millionĀ in a new financing round.
Dream Sports sets up $250 mn venture fundš°
Dream Sports, the parent company of India's only gaming unicornĀ Dream11, has set up aĀ $250 millionĀ corporate venture capital (CVC) fund to invest in sports, online gaming, and fitness-tech startups. These investments are part of Dream Sportsā broader push to become a one-stop solution for sports.
CoinDCX is Indiaās first crypto unicornš¤
CoinDCX became India's first cryptocurrency unicorn after raisingĀ ā¹6.70 billionĀ ($90 million) from investors. In India,Ā crypto investments grewĀ to nearly $6.6 billion in May from some $923 million in April 2020.
UpGrad is India's 21st startup unicorn of ā21š¦
UpGrad hasĀ raised $185 millionĀ from investors, valuing the company atĀ $1.2 billion. UpGrad set aside $250 mn forĀ mergers and acquisitionsĀ over the next seven to nine months last month.
Concerns over Appleās new child-safety toolš²
Concerns have been raised by privacy groups, industry executives, and academics aboutĀ Apple's new child-safety measuresĀ for its devices.
DoorDash in talks to buy Instacart for $40-$50 Bnš
US food delivery firm DoorDash Inc. has held talks over the past two months toĀ buy grocery delivery company InstacartĀ for a likely price of betweenĀ $40 billion and $50 billion.
Done Deals š¤š»
VerSe Innovation, the parent company ofĀ Dailyhunt, an online news aggregator, andĀ Josh, a short-video platform, hasĀ raised $450 millionĀ in a funding round.
Heads Up For Tails, a pet care company, raised $37 million (about 277 crores).Ā
Miko, which makes companion robots for children, hasĀ raised $28 millionĀ for product development and strengthening global alliances.
Pickrr, an end-to-end logistics technology startup, hasĀ raised $12 millionĀ (about Rs 85 crore) in a Series B funding round.
Neuron7.ai, a cloud-software firm, has emerged from the shadows with aĀ $4.2 million seed investmentĀ headed by Nexus Venture Partners and Battery Ventures.
Ping, a conversational commerce platform, hasĀ raised $3.5 millionĀ in a venture fundraising round headed by Elevation Capital.
Grip Invest, a financial technology platform, hasĀ raised $3 millionĀ in a Series A fundraising round.
Log 9 Materials, a startup developing advanced battery and fuel technology for electric vehicles, hasĀ raised $8.5 millionĀ in a round of fundraising.
Have a wonderful weekend!šš»
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