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Tag: funding (page 1 of 2)

Clubhouse discusses funding at $4 bn valuation: Reports

Clubhouse, as per media reports, is in talks with investors to raise funds at a valuation of about $4 bn.  The deal, if and when happen, would quadruple the start-up’s value from Jan and would reflect the high expectations of investors from the audio app. The reports, however, did not reveal how much Clubhouse is seeking to raise or named the investors who may participate. Clubhouse didn’t respond to the media queries.

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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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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.

Microblogging platform Koo raises $4.1 mn in Series A funding

Microblogging app Koo has raised $ 4.1 mn in Series A funding led by existing investors Accel, Kalaari Capital, Blume Ventures, Dream Incubator. The app founded in 2020 has seen 3 mn downloads within 10 months of its launch and 1mn active users, allowing them to connect, comment and engage in 13 local languages. It has 45 employees and would add 15 more in 2021. Koo has won the Aatmanirbhar App Challenge and was Play Store’s best Daily Essential App 2020.

Bengaluru based Zetwerk raised Rs 880 cr in Series D financing round

Zetwerk, a Bengaluru based B2B marketplace for manufacturing items, has raised $120 mn in Series D funding round led by Greenoaks Capital and Lightspeed Venture Partners. The new round valued the three-year-old start-up at somewhere between $600 -700 mn. It grew 3x and generated revenue of $43.9 mn in the last FY.  It has 250 customers, operates across two dozen industries.

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Zomato acquires Fitso Sports for ₹80-100 cr

Zomato has acquired Jogo Technologies that operated Fitso, sports facilities provider for a sum between Rs 80-100 cr. Fitso, founded by IIT Delhi graduates in 2015, manages facilities at stadiums, fields or courts, using tech. It sustains over 25,000 subscribed swimmers and more than 25 all-weather swimming academies across NCR and Hyderabad. It has raised $400,000 in two rounds and $1.5 mn in pre-Series A funding from SRI Capital, Sprout Capital, IPV Capital.

Hyundai Motor invests in yet another Israeli startup, use it in global production line

Hyundai Motor, South Korean automaker, has invested in Tel Aviv-based Israeli startup UVeye, an automated vehicle inspection systems’ developer. Hyundai aims is to use the platform in global production lines. UVeye has raised more than $40 mn from Hyundai and other investors in four years of its launch. Its system combines AI, cloud architecture, ML and sensor fusion tech. Hyundai Motor investments in Israeli companies include Autotalks and Opsys Technology.

Dangal Games raised $1 mn in Series A round

Dangal Games, an Indian online skill-based gaming platform has raised $1 mn in Series A round. The company would use funds to expand the business and become the leading player in the skill-based gaming sector. ” The fund would be used to diversify the product portfolio and tech capabilities of the business”, said Varun Mahna, founder and CEO of Dangal Games. It currently offers Poker Dangal and Rummy Danga and plans to add fantasy games ahead of IPL 2021.

Google backs Indian courier startup Dunzo in $40 million fundraising

Dunzo has raised $40 mn from existing investor Google and others. Dunzo and food-delivery apps Zomato and Swiggy recorded a fresh surge in popularity during the pandemic. Lightbox, Evolvence, Hana Financial Investment, LGT Lightstone Aspada and Alteria also participated in the fundraising round. Dunzo allows users to order groceries and other items from nearby stores as well as run pick-up and drop errands within the eight cities.