FUNDING | Pixr8 News

11Jul By AnkitaNo Comments

FUNDING

EV Automobile Company Rivian raises $2.5B in funding

Detroit, 11th July 2020: Tesla rival electric vehicle startup Rivian raises another USD 2.5 billion in funding led by funds and accounts advised by investment firm T Rowe Price. The company has a contract with Amazon to build 100,000 electric delivery vans starting next year at its factory, a former Mitsubishi plant in Normal, Illinois. Rivian also is rolling out a pickup truck and an SUV for sale to consumers next year. The company said Friday that investors in this round include Soros Fund Management, Coatue, Fidelity Management, and Research, and Baron Capital Group. Amazon and hedge fund BlackRock have invested previously and also are part of this round, Rivian said. The new investment won't bring any more seats to the Rivian board, the company said. In April of 2019, Ford in...

E-commerce Firm Flipkart Invests $35 Million in Arvind Fashion

9Jul By NitishNo Comments

FUNDING

E-commerce Firm Flipkart Invests $35 Million in Arvind Fashion

Walmart owned Flipkart Group said that it has invested $35 million (₹260 crores) to acquire a significant minority stake in Arvind Youth Brands, a subsidiary of Arvind Fashions Ltd (AFL). Walmart owned Flipkart group has subsidiaries including Flipkart, Myntra, and PhonePe ranging from eCommerce to digital payment space. Arvind Youth Brands which owns the clothing brand Flying Machine have a 40-year legacy and the group started selling its merchandise on Flipkart and Myntra for more than six years. Through this investment, Flipkart Group and Arvind Fashions will work collaboratively to identify opportunities and synergies to innovate and develop products with strong value propositions at attractive price points, the companies said in a joint statement. Kalyan Krishnamurthy, the...

8Jul By AnkitaNo Comments

FUNDING

IT Security Firm Securden raises funding from Accel Partner

San Francisco, July 8, 2020: IT security startup Securden Inc has received USD 1.2 million in a seed investment round led by global venture capital firm Accel, a top company official said. According to company co-founder Balasubramanian Venkatramani, the funding would be used for taking up the company's marketing, research, and development among others, a statement said. Securden is engaged in preventing identity thefts, malware propagation and insider threats among many others, a company statement said. The investment round builds on Securden's momentum as a company witnessing rapid adoption by enterprises across various sectors including banking and financial, healthcare, education, and government among others. The funding of USD 1.2 million (about Rs 9 crore) has seen partic...

8Jul By PriyankaNo Comments

FUNDING

TagHive raises $10 million in funding from South Korea based Joon Hyon

New Delhi, July 8, 2020: Samsung Ventures-backed Edtech startup TagHive raises $10 million in funding from Complement Capital Managing Partner Joon Hyon. While the company did not disclose the amount of funding raised in the pre-series A round, sources said the amount ranged between Rs 3-5 crore. "Our efforts to develop the product in South Korea have paid rich dividends to us as we now cater to over 400 schools there,” Pankaj Agarwal, founder, and CEO of TagHive, said. Class Saathi, as a platform, has already been proven to be effective in India in collaboration with the governments of Uttar Pradesh and Madhya Pradesh, he said, adding that the startup will deploy the funds to strengthen its presence in these two states. The funds will also be used to rapidly grow the presence ...

Edtech Platform Unacademy acquire Prepladder for $50 million

7Jul By AnkitaNo Comments

FUNDING

Edtech Platform Unacademy acquire Prepladder for $50 million

India's leading ed-tech platform Unacademy has acquired a medical-based preparation platform PrepLadder for $50 million. The deal has been revealed by Unacademy co-founder Gaurav Mujal on Twitter. https://twitter.com/gauravmunjal/status/1280398406838390784 PrepLadder, which employs about 150 people, offers courses aimed at medical students. The two-year-old startup, which never raised any capital from external investors, has more than 80,000 subscribers, said PrepLadder co-founder Deepanshu Goyal. The acquisition of PrepLadder comes as both Unacademy and Byju’s the two edtech leaders in India have engaged in M&A talks with several local startups in recent months to further their dominance in the nation. As per the Pixr8 report, Byju’s is in talks to acquire another ed...

Aye Finance raises $17 million from Invest in Vision

7Jul By PriyankaNo Comments

FUNDING

Aye Finance raises $17 million from Invest in Vision

Fintech startup Aye Finance raises $17 million (Rs 125 crore) in debt from Germany-based Invest in Vision, a top official of the company said. The company will use the fund to enhance lending for the micro-enterprise sector, Aye Finance managing director Sanjay Sharma said. "Since our inception in 2014, we have been making affordable loans a reality for the historically credit-starved micro-enterprises of India. We are grateful for the support we receive from Invest in Vision and other debt partners in helping us realize our mission of creating an inclusive India," Sharma said. Aye Finance is a finance company that provides business loans to micro and small businesses has raised a total of $244.4 Million in funding over 22 rounds. быстрый займ на картузайм на карту мгновенно с пл...

26Jun By AnkitaNo Comments

FUNDING

BYJU’S raises funding from Mary Meeker’s led VC firm BOND

India based ed-tech platform BYJU'S raises funds from global technology investment firm BOND at a valuation of $10 billion. This is the first Indian startup investment of Mary Meeker's led VC firm BOND. In February, BYJU'S raised about USD 200 million in funding from General Atlantic. At that time, sources had said the company was valued at about USD 8.2 billion. BYJU'S which has raised well over USD 1.3 billion had also announced raising funds from Tiger Global Management in January. "This partnership (with BOND) is a testament to the role that BYJU'S is playing in helping students learn better by customizing our platform to their abilities. It also demonstrates the rising global interest in education technology as digital learning becomes increasingly accepted and embraced,...

25Jun By PriyankaNo Comments

FUNDING

Slice raises $6 Million in funding led by Japan-based Gunosy

New Delhi, Jun 25, 2020: Fintech startup slice (formerly known as SlicePay) raises $6.08 million (Rs 46 crore) in funding led by Japan-based investor, Gunosy. The pre-series B round also saw participation from US-based EMVC, Kunal Shah of CRED, Better Capital and existing investor, Das Capital, a statement said. "This round of funding will help slice double its management team, explore banking partnerships to launch co-branded prepaid cards and credit cards and have over 5 lakh users by the end of fiscal 2021," it added. "As a young team, we understand this consumer very well and in the last four years, our primary focus has been making youngsters'' financial experience fun and seamless. As we accelerate towards our next phase of growth, support from new investors like Gunosy, EMV...

23Jun By AdityaNo Comments

FUNDING

Singapore based Sparrow raises USD 3.5 million in Series A funding

SINGAPORE, June 22, 2020-- Sparrow, the leading options trading platform has secured USD 3.5 million in Series A funding to accelerate platform development. The round was led by the HDR Group, owner and operator of BitMEX, and supported by Signum Capital, Du Capital, and FinLab EOS VC. Kenneth Yeo, CEO of Sparrow said, "We are really pleased that the round received strong support despite the harsh economic climate caused by COVID-19. The strong interest from investors validates our view that digital asset options will be the next high-growth market." "We would like to thank our partners and users for their overwhelming support. Volumes have tripled since the start of the year. With this round of funding, we are in a good position to bring even more exciting trading products to t...

Payment startup Checkout.com valuation triples to $5.5bn

22Jun By AdityaNo Comments

FUNDING

Payment startup Checkout.com valuation triples to $5.5bn

22nd June 2020, London– Leading global payment solution provider Checkout.com becomes one of the most valuable fintechs globally raises $150m in Series B funding round. Tripling the valuation to $5.5bn reflects a growing business demand for transformative online payment solutions that perform across all geographies and channels. Checkout.com’s online transaction numbers had already increased by 250% comparing May ‘19 and May ‘20. With an exclusive focus on online payments, global lockdowns have further accelerated Checkout.com’s growth as businesses have rapidly pivoted online. The Series B funding was led by Coatue, along with participation from existing investors, including Insight Partners, DST Global, Blossom Capital, and Singapore’s Sovereign Wealth Fund, GIC. Checkout....

Milk Mantra raises $10 mln in debt financing from US DFC

19Jun By AdityaNo Comments

FUNDING

Milk Mantra raises $10 mln in debt financing from US DFC

NEW DELHI, 19th June, 2020: Dairy foods company Milk Mantra said US International Development Finance Corporation (DFC) has committed $10 million (over Rs 76 crore) for structured debt financing to the company. DFC has also approved $3,71,000 (about Rs 2.8 crore) in technical assistance to support the company's agriculture extension services and ethical milk sourcing programme, according to a statement. "The main focus of this would be to build out Milk Mantra's digital financial services platform for its network of farmers. This platform will drive financial inclusion for farmers, especially women farmers," it added. There are nearly 100 million dairy farmers in India with a significant proportion being women. The company was founded in August 2009 by the former director of Tetle...

19Jun By PriyankaNo Comments

FUNDING

SoftBank led $19.5 million funding round in Splyt

TOKYO, 19th June 2020: Softbank Corp led a $19.5 million funding round in startup Splyt, which helps app operators integrate mobility options with other services, as it seeks to build its own super app. Japanese tech firms have lagged peers such as Tencent Holdings, with its WeChat app, in creating super apps, which offer access to a range of services via a single interface. SoftBank will take a "significant stake" in Splyt, which has helped integrate ridehailing into apps such as Alibaba Group's Alipay and Grab, backed by SoftBank Group Corp, with the deal focused on using the technology with its own services. SoftBank is poised to control two top contenders for a local super app, the chat app from Line Corp, which will be brought under the SoftBank umbrella in October after stri...