JOBTECH
Swiggy’s confidential IPO filing; Blinkit’s rising valuation
Swiggy has confidentially filed draft IPO papers with the capital markets regulator. Details on this and more in today’s ETtech Top 5.
Capria Ventures announces final close of India Opportunity Fund at Rs 153 crore
Capria Ventures concluded the Rs 153 crore fundraising for the India Opportunity Fund. The fund, which had invested in Awign in February last year, will return more than 20% of the invested capital to its limited partners or sponsors in funds.
Capria opens $100-million Global South Fund II
The new fund will focus on investing in 20-25 tech startups in the entrepreneurial hotspots of India, Southeast Asia, Latin America, the Middle East and Africa, the Seattle, Washington-headquartered fund said in the statement.
Deep-tech VCs up India focus as generative AI reshapes tech
Some funds eye startups with proprietary training models, others bet on firms building on top of large language models.
Edtech startup NxtWave raises $33 million in fresh funding
NxtWave said it had helped learners secure jobs across 1,250 companies, including fast-growing startups and Fortune 500 corporations.
Unitus Ventures logs first close of opportunity fund at Rs 80 crore
Unitus Ventures has already backed some portfolio startups such as BetterPlace, Cuemath, Awign, Masai, Eduvanz from the opportunity fund, which is expected to see final close over the next 12-18 months, managing partner Surya Mantha told ET.
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Edtech startup BlueLearn raises $3.5 million in funding from Elevation, Lightspeed
Bluelearn plans to use the funds to strengthen the product and team as well as to grow its community user base by 10x and double its team size by 2023.
Relevel to pivot to test products and NextLevel, Gaurav Munjal tells employees
Launched on Tuesday, NextLevel competes with professional networking platform Linkedin and aims to help individuals be a part of a rating system and help them unlock job opportunities.
Job-tech firms hit as startup hiring falls; IT firms’ clients focus on smaller deals amid downturn
Edtech startups such as Masai School, Simplilearn and Relevel are reworking their approach because of the slowdown in the job market, especially for roles such as software development, sales and marketing.
Jobtechs eye non-tech firms in hiring winter
Only 11,000 active monthly openings posted across startups in Oct: Xpheno
VC firm Unitus Ventures brings on board Sanjiv Rangrass and Raj Nooyi
Rangrass joins as a venture partner and will lead the firm’s investment strategy in the climate sector - a focus sector for the next fund the VC firm will launch early next year. Nooyi joins as venture advisor, and his global experience will help Unitus’ portfolio companies to scale globally.
Nykaa CEO Falguni Nayar explains fashion foray; Tiger Global’s Scott Shleifer in India next week
Nayar spoke to us about the company’s journey towards a market listing, the massive swing from euphoria to caution for new-age tech stocks and Nykaa’s focus on its fashion and B2B businesses.
Unitus Ventures to close $100 million third fund next year; to focus on job-tech startups
The VC fund also plans to close a Rs 300 crore opportunity fund, through which it will invest in successful startups from its first two funds.
Flipkart drives Walmart’s international revenue; go hardcore or go home, Elon Musk tells Twitter staff
Double-digital growth in Flipkart was a key driver of Walmart International’s 13% jump in sales in the September quarter, the US company said in its latest earnings call. In the same quarter last year, Walmart International saw its net sales shrink by almost 25% to $22.3 billion.
Unacademy founders, management to take pay cuts; shut global test prep business
Unacademy chief executive Gaurav Munjal said in a note to his team that they must ‘embrace frugality as core value as the company eyes IPO in two years.
Elevation raises $670M India fund; edtech giant lays off 1,000 employees
Elevation Capital, which invested in around 30 Indian startups last year alone, has closed its latest India-dedicated fund at $670 million.
What’s next for Unacademy as it slashes 1,000 jobs in a massive cost-cutting exercise
According to people aware of the matter, out of the 1,000 employees who have been fired in the past few weeks, about 300 were educators on contracts, while the rest were in sales, business and various other functions.
Unacademy lays off 1,000 employees; Coinbase in India ‘for the long haul’
Unacademy, the edtech giant that began as a YouTube channel in 2015, has laid off around 1,000 employees over the past few weeks as part of a huge cost-cutting exercise
Digital platform Bandhoo raises $1.1 million from Unitus
The startup is based out of Gurugram and Bengaluru.
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