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Category: Start-up (page 2 of 21)

Stripe raises $600 mn at $95 bn valuations, becomes most valuable Silicon Valley firm

Stripe, a digital payments firm, has raised $600 mn funding at $95 bn valuations to become the most valuable private company Silicon Valley has ever produced. Investors in the decade-old company include Allianz SE, AXA SA, Baillie Gifford, Fidelity Management & Research, Sequoia Capital and Ireland’s NTMA. The fresh capital will be invested in European operations, expand Global Payments and Treasury Network. Stripe plans to expand in Japan, China and India.

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Google Assistant invests undisclosed amount in Indian mental health app Wysa

Wysa, an Indian AI-based mental health app, has secured an undisclosed amount of funding from the Google Assistant fund. A user on Wysa’s mobile app can seek help from an AI-powered bot for managing anxiety and sleeping disorder or pay and talk to a therapist. App’s founder Ramakant Saha, in an interview earlier, had said that the app was for early-stage supportive therapy and didn’t deal with severe mental illnesses.

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AI, Data analytics will drive over 75% of investment decisions by 2025: Gartner

A Gartner report said that over 2/3 of early-stage investment decisions will be driven by AI and data analytics by 2025. The report said that investors, equipped with AI and data analytics, will be a common sight in the next 4-5 years. AI and data-driven models will help the investors in identifying the viability, strategy and potential result of the investment, based on the trends of past investments, revenue growth, market penetration, etc.

Zomato is expected to raise almost $1 bn through its IPO

Zomato, the food-delivery app which is one the most successful Indian tech startups, is expected to raise over $750 mn to $1 bn through its IPO. No investor will likely exit or take money off the table by selling their shares. Deepinder Goyal, co-founder and CEO of Zomato said that the IPO will probably be a 100% primary offering and the company might end up raising more capital, rather than shareholders offloading stock in the open market.

Ratan Tata to exit his investment in Lenskart with 5x return

Ratan Tata to exit his investment in Lenskart Solutions. As many as 24,246 shares held by Ratan Tata will be converted into common equity shares for secondary sale, said media reports. Tata has purchased these shares at Rs 2 per share, as per the company’s regulatory disclosures. The Lenskart board gave the responsibility of monitoring the company’s equity-based remuneration plan for employees to Lenskart ESOP Trust.

Apple alum’s startup for skilled workers raises $12.5 mn

Apna, a startup by an Apple alum, has become a new online destination to 6 mn skilled workers in India. The start-up has raised $12.5 mn in just five months after it received funding of $8 mn. Sequoia Capital India and Greenoaks Capital led the latest round, along with existing investors Lightspeed India and Rocketship VC. Nirmit Parikh, the founder and CEO said that the network gap was the most crucial challenge, and solving it will enable people to get better opportunities.

Maruti Suzuki, IIM Bangalore shortlist 26 mobility firms for incubation programme

As many as 26 mobility startups have been shortlisted by Maruti Suzuki, in partnership with NSRCEL at IIM Banglore, for a nine-month incubation program. Maruti Suzuki will collaborate with the startup to create technology-led mobility business solutions, as per a statement given during the announcement of this program in Aug 2020. The objective of the collaboration is to help startups to bring industry-ready solutions and become large-scale businesses.

Innovaccer enters unicorn club with $1.3 bn valuation

Healthcare tech startup Innovaccer has raised $105 mn at a valuation of $1.3bn, in a round led by Tiger Global Management. Steadview Capital, Dragoneer, B Capital Group, Mubadala Capital and Microsoft’s venture fund arm M12 were also part of the round. The company has raised $225 mn so far. Innovaccer’s SaaS platform provides unified patient records, connect healthcare data across multiple systems and settings.

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Temasek, Lightstone invest Rs 120 cr in PharmEasy at $1.2 bn valuation

PharmaEasy, an E-pharmacy platform is raising Rs 120 cr in a funding round led by returning investor Temasek Holdings, with Lightstone Fund, a unit of LGT Lightstone, participating in it. Rs 90 cr investment will be made by Temasek and a total of Rs 120.7 cr along with Lightstone. The valuation of the startup was expected to be $1.2 bn with an additional $50 mn secondary component to buy out early investors.