Swiggy suspends Genie 🧞, CoinDCX to invest Rs 100 Cr 💸, Byju’s acquires 🎓

Swiggy suspends Genie in three metros, CoinDCX to invest Rs 100 crore over next 12 months, Byju’s acquires Northwest Executive Learning, Funding Deals & more.

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May 11

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Swiggy temporarily suspends Genie service in 3 major cities🧞

Food and grocery delivery platform Swiggy has temporarily shut down its pickup and dropoff service in Mumbai, Bengaluru and Hyderabad.

The suspension comes amid demand surge and shortage of delivery executives. Swiggy Genie services have been unavailable across Mumbai, Hyderabad, and Bengaluru for the past seven days.

Swiggy spokesperson said, “Swiggy Genie is temporarily unavailable in 3 out of the 68 cities. The cricketing and festive season has resulted in a surge in demand for servicing the requirements for both the food marketplace and Instamart, requiring us to prioritise these deliveries accordingly.”

Crypto unicorn CoinDCX to invest Rs 100 crore over next 12 months💸

Crypto exchange CoinDCX will invest Rs 100 crore over the next 12 months through its corporate venture arm CoinDCX Ventures.

The venture arm will write cheques ranging from $100,000 to $1 million to web3 firms in seed to Series A rounds around the world. It intends to make between 40 and 80 investments.

The unicorn startup has made seven bets across investment infrastructure, investment products, infrastructure layer development, developer tools, and web3 apps. Its investments include Liminal, Ethereum Push Notification Service, Spheron and others.

Skillmatics, a global brand for children’s educational games and resources has raised $16 million in Series B funding, led by Sofina.
Edtech startup iNurture Education Solutions has raised $15 million in a combination of debt and equity from ADM Capital.
Home construction and renovation start-up Kolo has raised $4 million from a global VC firm RTP Global and existing investor Better Capital.
Josh Talks, regional content and upskilling platforms has bagged $3.5 million in a funding round led by Ankur Capital.
Fintech platform Multipl, has raised a $3 million Pre-Series A funding round led by Blume Ventures, GrowX Ventures, IIFL, and Kotak Securities Ltd.

Byju’s acquires Northwest Executive Learning for $100 million🧑🏻‍🎓

Byju's group company Great Learning has acquired Singapore’s executive education provider Northwest Executive Education for roughly $100 million in stock and cash deal.

This is the latest investment by Bengaluru-based Byju’s in the executive education space after it acquired Great Learning itself in a $600-million deal last July. In February, Great Learning had bought out Superset, a recruitment platform, in what was its first acquisition.

Northwest will continue to operate as an independent organisation and its cofounders Mohit Jain, Tamhant Jain and Maitreyi Singhvi will remain its leaders.

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