Postman-India's most valuable SaaS startupš®
Amazon gets on board Smallcase, China rebukes 43 apps over data misuse and more.
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Postman overtakes BrowserStack, valuation tops $5.6 Bnš®
SaaS startup PostmanĀ has raised $225 millionĀ at a post-money valuation of $5.6 billion, thus overtaking BrowserStack as Indiaās most valued software-as-a-service enterprise.
Founded in 2014 by Abhinav Asthana, Abhijit Kane, and Ankit Sobti in Bengaluru, Postman creates application programming interfaces, or APIs, that enable interactions between apps as well as functionalities within apps. It has around 17 million users and 500,000 organizations on its platform.
On June 17, BrowserStackĀ raised $200 millionĀ in a funding round led by Mary Meekerās Bond Capital, valuing the company at $4 billion.
Amazon backs Indian fintech Smallcaseš¼
Smallcase Technologies, a wealth management fintech platform, has raised $40 million. The financing was led by Faering Capital, with participation from Azim Premji's Premji Invest and Amazon.com Inc.
This is Amazonās maiden investment in Indiaās wealth management sector, made through its $250-million, early-stage fundĀ Amazon SMBhav Venture Fund.
Smallcase, based in Bengaluru, was founded in 2015 by IIT Kharagpur graduates Vasanth Kamath, Anugrah Shrivastava, and Rohan Gupta to expand digital access to capital markets by delivering weighted portfolios of equities and exchange-traded funds.
Hot Shorts ā”
RaRa Delivery, an instant delivery startup based in Singapore,Ā has raised $3.25 millionĀ in a funding round led by Sequoia Surge.
Charcoal Eats, a quick-service restaurant brand,Ā has raised Rs 1 croreĀ in growth capital to expand its menu and spend on marketing.
Probus Smart Things, a data analytics business, has secured $500,000 in a bridge round headed by Unicorn India Ventures.
China rebukes 43 apps for breaking data transfer rulesā
Chinaās Ministry of Industry and Information Technology (MIIT)Ā has foundĀ that 43 homegrown apps, including WeChat, illegally transferred user data, and ordered their parent companies to make rectifications.
The 43 apps had illegally transferred users' contact list and location data, while also harassing them with pop-up windows. The apps will have until Aug 25 to make rectifications, or else they will be punished in accordance with relevant laws and regulations.
Tweet of the dayš„
ā D-Mart owner RK Damani breaks into the list of the worldās top 100 richest people.
ā Grofers offers ten-minute online grocery delivery in 10 cities.
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