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Cred on Monday said it has raised USD 81 million (about Rs 591.2 crore) in funding, valuing the fintech firm at a post-money valuation of USD 806 million (about Rs 5,883 crore). Existing investor, DST Global led the series C round along with Sequoia Capital, Ribbit Capital, Tiger Global, and General Catalyst, a statement said. The company has raised USD a total of USD 228 million in four rounds till date. This includes USD 1 million in seed capital by founder Kunal Shah (QED Innovations), USD 25 million in series A and USD 120 million in series B round.
Delhi Chief Minister Arvind Kejriwal said that his government will soon roll out new policy for startups who face several challenges in initial stage. “Delhi government is at a very advanced stage of rolling out a new startup policy,” he said.
Agnikul signed a non disclosure agreement with the Department of Space that will allow it to access Indian Space Research Organisation (Isro) facilities and technical expertise to build its rocket.
“With the growing awareness on the importance of wholistic parenting, people are now more conscious and recognize the gravity of this topic. Our aim is to address this need and become the most trusted brand when it comes to technology for a child, learning and development,” Said Sneh R Vaswani, Co-Founder, and CEO, Miko.
The new offering is called Lido Headstart and it offers courses in English, mathematics and coding to children as young as 4 years old.
The companies being incubated span different sectors such as jobs, technology and brand management. The program is focused on three broad categories that include upskilling entrepreneurs to handle real challenges through fundamentals, business remodeling, product designing, branding strategy provided by experts from the industry in the form of masterclasses.
Kirana King started its retail aggregation operations in 2017 and has a grocery retail network of more than 200 stores in Jaipur, Rajasthan. The company said it now aims to expand its operations in various parts of Rajasthan where it targets achieving 1000 stores by the end of 2021.
In a big boost for Telengana, Amazon Web Services, the cloud services arm of Amazon will invest $2.77 Billion or Rs 20,761 crore to set up multiple data centres in the state. This will make it the largest foreign direct investment in the Southern state. The cloud region in Hyderabad will be Amazon's second in India after Mumbai. AWS declined to confirm the quantum of investment shared by the Govt.
Startups in fintech and consumer services are emerging as high net addition sectors with 39% and 33% headcount growth, showed the survey on the talent roadmap of 80 Indian start-ups. The overall headcount addition in the edtech sector so far in 2020 was the highest at around 78% compared to last year.
Kalra in a webinar on conversation with co-authors of a book, 'Funding Your Start-Up: And Other Nightmares' also said that agility and resilience are important attributes for an entrepreneur. "If you want to build a startup, an entrepreneur must first be very clear about the problem one is trying to solve and can he provide the potential customers a solution which can solve it", Kalra said.
Members of the panel from different political parties asked Paytm why the server on which data of its customers is collected and stored is abroad when it claims to be an Indian firm, sources said.
The FIST programme will now be reinvented as FIST 2.0 to orient it towards the goal of 'Aatmanirbhar Bharat' to create research and development infrastructure not only for experimental work but also to cater to theoretical work, ideas and entrepreneurship.
Dev has been investing in the startups' space since 2015 and his bets include grocer peopleeasy.com, Samco Ventures, online market network Wizcounsel and cab aggregator Vaoo, as per reports.
Uber is also hiring 85 more engineers in the country. This is in addition to 140 engineers Uber announced it was hiring last month, the company said in a statement.
The edutech space has seen strong growth globally with the COVID-19 pandemic serving as an inflection point, with rapid growth seen in the addition of learners and onboarding of teachers.
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