Week in review💫 (Aug 01 - Aug 05)
A quick rundown of the startups that made headlines this week. Funding and acquisitions in Indian startups this week.
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A Quick Recap of the Week
Logistics startup Grab.in integrates with the government’s ONDC🛒
Ola Electric halted EV production over ‘inventory pile-up’🛵
Oracle’s India cloud unit targets triple-digit growth in next few years💸
Zomato to have many CEOs, will call itself Eternal, says Deepinder Goyal💫
Avendus Future Leaders Fund buys stake in Xpressbees for Rs 195 crore🚚
Musk says Twitter can become an accurate and relevant news source📰
Uber Technologies sell 7.8% stake in Zomato through a block deal📊
Vedantu lays off another 100 employees after sacking 624 in May🎓
Foxconn expands its TN factory as Apple’s India business grows🏭
Swiggy staffers can now work for others under the new moonlighting policy🌝
Govt plans app for finding EV charging stations to boost adoption🔌
New data bill draft almost ready, says IT minister📜
Reliance to debut JioMarket for marketplace biz starts roping in sellers🛒
Dunzo’s B2B logistics arm joins ONDC📦
Tiger Global sells 18.44 crore Zomato shares, nearly halves stake🐯
Let’s move on to the top funding deals from the week.
Rural-focused agri-fintech startup Jai Kisan raised $50 million (Rs 390 crore) from GMO Venture Partners, Yara Growth Ventures and Mirae Asset.
Customer engagement and retention platform WebEngage raised $20 million in a round led by Singularity Growth Opportunities Fund and SWC Global.
Rewards and loyalty startup Twid has raised $12 million as part of its Series A round led by Rakuten Capital.
River, a Bengaluru-based electric scooter startup, said it has raised $11 million in a funding round led by Toyota Ventures and American entrepreneur Chris Sacca's Lowercarbon Capital.
Employee benefits startup Jify said it has raised $10 million in funding from Accel and Nexus Venture Partners.
Embedded credit finance startup Credit Fair raised $10 million in funding – a mix of debt and equity – led by LC Nueva Alternative Investment Fund.
Fintech startup CredAble has raised fresh funding of $9 million through an equity infusion from Axis Bank and its existing investor Oaks Asset Management to accelerate its growth plans.
Have a wonderful weekend!🥳
Thanks for reading😊
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