National Startup Awards🏆, Delhivery IPO🚚, Thrasio enters India💰
46 startups honoured with awards, Delhivery’s Rs 7,460-crore IPO, Thrasio forays into India, Funding Deals & more.
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46 startups honoured with National Startup Awards 2021🏆
Union Commerce and Industry Minister Piyush Goyal on Saturday honoured 46 startups along with 1 incubator and 1 accelerator with the National Startup Awards 2021.
This is the second edition of the National Startup Awards. In this edition of the awards, applications were invited across 15 sectors and 49 sub-sectors. The sectors included Agriculture, Animal Husbandry, Drinking Water, Education & Skill Development, Energy, Enterprise Technology, Environment, Fintech, Food Processing, Health & Wellness, Industry 4.0, Security, Space and Transport and Travel.
A total of 2,177 applications were received from Startups across the 49 sub-sectors along with applications from 53 incubators and 6 accelerators for the ecosystem enablers categories.
After three rounds of detailed evaluation, 175 Startups were selected for presentation before the jury which made presentations before the 16 specialist jury panels, which comprised domain experts from industry, investors and government.
Pune-based Repos was awarded the National Startup Award 2021 at the prestigious 6-day Startup India Innovation Week.
Delhivery’s Rs 7,460-crore IPO gets Sebi’s nod🚚
Logistics services firm Delhivery is said to have received approval from market regulator Securities and Exchange Board of India (SEBI) for its proposed initial public offering (IPO) of Rs 7,460 crores.
This makes the Gurugram-based company the first top-tier startup this year to have received clearance to go public.
Delhivery, which is backed by SoftBank and Carlyle, said in its draft IPO filing in November that it planned to raise Rs 5,000 crore by issuing new shares. The IPO will also include a Rs 2,460 crore offer-for-sale component, it said, in which existing investors will sell some of their shares.
The company has seen its revenues jump significantly amid the pandemic.
It reported revenue of Rs 3,646.5 crore in FY21 compared to Rs 2,780 crore the previous year. In FY21, its net loss was Rs 415.7 crore against Rs 269 crore in FY20.
Hot Shorts⚡
Hero MotoCorp Ltd. is investing Rs 420 crore in electric scooter maker Ather Energy, at a time when India’s largest two-wheeler maker is readying its own product for the local EV market.
Agritech startup WayCool Foods has raised $117 million in an ongoing Series D funding round that saw the participation of new and existing investors, including LightRock and LightBox.
Electric commercial vehicle startup EVage has raised $28 million (over Rs 205 crore) from US-based venture capital firm RedBlue Capital.
Conversational AI platform Orai has raised Rs 6.5 crore in a pre-Series A round led by angel investment platform Inflection Point Ventures.
Thrasio forays into India commits investment of $500 mn💰
At a time when the ‘Thrasio’ model is fast catching up in India, where companies acquire brands and then help them grow, the US-based company behind this model, Thrasio, is now entering the Indian market.
Thrasio has committed an investment $500 million in India, which the company says will be a massive market for digital shopping, making it a high priority entry for Thrasio.
“India is a unique market with hundreds of thousands of motivated entrepreneurs. We are thrilled to provide brand owners with the opportunity to successfully sell their businesses as well as to give consumers greater access to quality products,” Carlos Cashman, CEO of Thrasio, said.
Thrasio will be foraying into India by acquiring Lifelong Online, an Indian online consumer brand, which will now be called “Lifelong, a Thrasio company” and will lead the on-ground execution for Thrasio headed by Lifelong’s co-founder and CEO Bharat Kalia.
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