Vedantu is 28th Indian unicorn of 2021🦄
Tata launches its super app, Amazon launches household robot and more.
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Vedantu Gets $100 Mn Funding, Becomes India's Fifth EdTech To Enter Unicorn Club👨🏻💻
Edtech firm Vedantu is India’s newest startup unicorn after raising $100 million in a new funding round led by ABC World Asia, an investment fund backed by Temasek.
Vedantu’s valuation jumped to $1 billion from around $600 million last year, when it raised $100 million from Coatue, making it the 28th Indian unicorn of 2021.
Vedantu will use the funds to double down on its core business, expand overseas and add vernacular languages. It also plans to add tutoring solutions for Grades 1 to 5, CEO Vamsi Krishna said.
India’s edtech sector has seen massive consolidation over the past six months, led by Byju’s, which spent $2 billion on four companies between April and September.
Indian Startup Unicorns in 2021🦄
Tata launches its super app ‘TataNeu’🦸♂️
Tata Sons chairman Natarajan Chandrasekaran has given senior employees a sneak peek at the company’s ‘super app’ before a wider pilot involving its seven lakh employees, The Times of India reported.
Called TataNeu, the super app will be a one-stop destination for all of Tata’s online services.
Some group brands such as BigBasket, 1mg, Taj Hotels, Croma and AirAsia have boarded the app but others such as Titan, Tanishq, Cliq and Starbucks are yet to do so, according to the TOI report.
The company could also add a neobank and an online cosmetics store to the super app.
TataNeu will also have a loyalty program in which customers can earn points for purchases they make on the platform.
Hot Shorts⚡
CredAvenue, an enterprise debt marketplace, has raised $90 million in a Series A round led by Sequoia Capital, with Lightspeed, TVS Capital Funds, and Lightrock India.
MFine, a digital health platform, has raised $48 million in a Series C round led by Moore Strategic Ventures and BEENEXT.
Exotel, a cloud telephony company, has raised $35 million in a Series C funding round led by Sistema, CX Partners, and existing investor A91 Partners.
Leena AI, an enterprise software-as-a-service company, has raised $30 million in a Series B funding round led by Bessemer Venture Partners.
Amazon launches Astro, a household robot on wheels🤖
Amazon has announced a canine-like household robot called Astro, which is designed for tasks such as home monitoring, setting up routines and reminders, and playing music and TV shows while rolling around the house.
The device, which has digital eyes on a rotating screen mounted on wheels, is available at an introductory, invite-only price of $999.99 and regular price of $1,449.99.
The ecommerce firm also announced a deal with Walt Disney to use its voice-controlled tech Alexa in resort hotels, a smart thermostat, smart display Echo Show 15, and a new health-tracking band called Halo View.
Tweet of the day🐥
⏩ Piramal Group completes DHFL acquisition in total consideration of ₹34,250 crores.
⏩ Value of UPI transactions doubled year-on-year to Rs 6.06 lakh crore in July.
'The bad news is time flies. The good news is you're the pilot.'
- Michael Altshuler
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