After 68 years, Tatas win back Air India✈

Truecaller debuts on Nasdaq Sweden & Quick recap of the week.

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Tatas win Air India with ₹18,000 crore bid✈

After a gap of 68 years, debt-laden national carrier Air India returned to its founders Tata Sons, ending a decades-long struggle to offload the money-losing flag carrier.

The salt-to-software conglomerate placed a winning bid of ₹18,000 crores re-acquire the airline more than half a century after it ceded control to the Centre. 

The Tatas will own a 100% stake in Air India, as also 100% in its international low-cost arm Air India Express, and 50% in the ground handling joint venture, Air India SATS. Apart from 141 planes and access to a network of 173 destinations including 55 international ones, Tatas will also have the ownership of iconic brands like Air India, Indian Airlines and the Maharajah.

Tata Sons beat SpiceJet promoter to bag Air India.

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Truecaller debuts on Nasdaq Sweden, thanks early investor Sequoia India📞

Swedish firm Truecaller, the third-largest communication platform in India after Facebook and WhatsApp, began trading on Nasdaq Sweden today under the symbol “TRUE”.

India has about 205 million monthly active Truecaller users, or about three-quarters of the total worldwide, and also accounts for more than half the company’s employees.

The company’s share price, which it had set at 52 Swedish krona ($5.93) each earlier in the day, opened at 60 krona ($6.85) but was back down to 52 krona within a couple of hours, giving Truecaller a market cap of just over $2 billion.

Sequoia India, a Truecaller investor since 2014, tweeted: “@Truecaller, which has gone from underdog to category creator, is a great example of having the right #idea at the right time.”

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A quick recap of the week🚄

Monday

  • Chinese investor dilutes stake in Delhivery, may exit before IPO📦

  • FMCG brands join ecommerce bandwagon🛒

  • WeWork launches Growth Campus; to invest in Indian startups🏢

Tuesday

  • Edtech unicorn Byju’s raises ₹2,200 crores in fresh round👨🏻‍💻

  • Adani seals the largest deal in India's renewable sector, completes acquisition of SB Energy for $3.5 billion🤝🏻

  • Paytm takes over complete ownership of CreditMate💯

Wednesday

  • Licious joins unicorn club with $52 million funding🍖

  • WhatsApp, Facebook, Instagram recover after almost six-hour outage🚫

  • Ola acquires GeoSpoc to build next-gen location technology🗺

Thursday

  • CoinSwitch Kuber valued at $1.9B with $260M funding💸

  • MyGlamm acquires The Moms Co for Rs 500 crore🤱🏻

  • Mensa Brands takes majority stake in 10 consumer brands😎

Friday

  • Hat-trick of unicorns! Cloud kitchen startup Rebel Foods is 31st Indian unicorn, raises $175 mn🍲

  • Reliance gives Mumbai its first rooftop drive-in theatre in BKC🎪

  • Tata Digital may offer stock options to woo top startup talent🎁

Funding Deals

  • Portea Medical, an out-of-hospital consumer healthcare startup, has received a $7.7 million loan commitment from the United States International Development Finance Corporation (DFC).

  • Renee Cosmetics raised $1.5 million in a pre-series A funding round headed by Equanimity Ventures, 9Unicorns, and Titan Capital.

  • Rupifi, a financing platform, has raised $1 million in a mix of equity and venture debt from Alteria Capital and technologist Gokul Rajaram.

  • Progcap, a fintech startup, has raised $30 million in a Series C round headed by existing investor Tiger Global Management and new investor Creation Investments.

  • GramCover, a rural insurtech startup, has raised $7 million in a Series A round-headed by Siana Capital and Inflexor Ventures.

  • Smartstaff, a platform for blue-collar workforce management, has raised $4.3 million in funding from Blume Ventures, Nexus Venture Partners, and Arkam Ventures.

  • Tekion Corp, a cloud-native platform for the automotive retail industry, has raised $250 million in a Series D funding round led by Alkeon Capital and Durable Capital.

  • Chalo, an app that helps riders track buses across cities, announced that it has raised about $40 million in its Series C funding round led by Lightrock India and Filter Capital.

  • Sunstone Eduversity, a higher education startup, has raised $28 million in a Series B funding round headed by WestBridge Capital.

  • 100ms, a live-video infrastructure platform, has received $4.5 million in a seed funding round led by Accel along with the participation of Strive.vc.

  • Qapita, an equity management platform, has raised $15 million in a Series A funding round led by East Ventures and Vulcan Capital to build an “operating system” for private markets in the Southeast Asia region.

  • Ozonetel, a provider of on-demand cloud communication/telephony solutions has raised $5 million in series A funding from Stakeboat Capital.

  • kWh Bikes, an electric scooter startup, has raised $2 million in a seed round led by LetsVenture, which also included Better Capital and Cloud Capital.


Have a wonderful weekend!🥳

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