India’s OfBusiness valued at $5 billion in $325 million funding

OfBusiness, a New Delhi-headquartered startup that sells industrial goods and provides small businesses with credit, has secured its fourth financing round this year and is now valued at about $5 billion. Alpha Wave Global, Tiger Global, and SoftBank Vision Fund 2 led the startup’s $325 million Series G financing round. Alpha Wave Global, formerly known […]

India’s Cars24, a used-vehicle sales platform, raises $400M, now at a $3.3B valuation, to double down on growth

With supply chains in the automotive industry continuing to be disrupted due to Covid-19, demand has surged in the used-car market. Today, one of the startups that’s seeing a lot of growth as a result of that is announcing a big round of funding to further tap the opportunity. Cars24, a startup out of India […]

Indian fintech giant Razorpay valued at $7.5 billion in $375 million funding

Razorpay has more than doubled its valuation to $7.5 billion from $3 billion in April as one of India’s largest fintech giants demonstrates fast growth and aggressively broadens its product offerings. The Bangalore-headquartered startup, which is a market leader in payments processing in India, said Sunday evening it has raised $375 million in its Series […]

India antitrust watchdog suspends Amazon’s 2019 deal with Future, imposes fine

An Indian antitrust watchdog has revoked the approval it had granted for Amazon’s 2019 investment in a Future Group unit and imposed a fine of about $26.3 million to the American e-commerce giant for concealing facts. The Competition Commission of India said Amazon, which invested in Future Coupons in 2019, “suppress[ed] the actual scope and purpose […]

India’s most valuable startup Byju’s in talks to go public via record SPAC deal

Indian edtech giant Byju’s, the nation’s most valuable startup, is in talks to go public in the U.S. by merging with a blank check company led by Churchill Capital, a person familiar with the matter said. Byju’s, currently valued at about $21 billion, is seeking a valuation of over $45 billion and looking to raise […]

Google’s Area 120 launches Qaya, a service offering web storefronts for digital creators

A team at Google is today launching a new service called Qaya, which will allow creators to easily set up new web storefronts where they can sell their products and services directly to their audiences. The project is the latest to emerge from Google’s in-house project incubator, Area 120, which was recently a part of […]

Indian Prime Minister Modi’s Twitter account was ‘briefly compromised’

The Twitter account of India’s Prime Minister Narendra Modi was “briefly compromised” on Sunday, his office said. Modi’s account — whose handle is @narendramodi — tweeted after the midnight that India had officially adopted bitcoin as a legal tender, prompting suspicions about a hack because of the timing of the announcement and also as New […]

Coinbase Ventures backs cross-chain infra Router Protocol

A startup that has built a decentralized exchange as well as a cross-chain infrastructure to facilitate communication across layer 1 and layer 2 blockchain solutions is the latest to receive backing from Coinbase Ventures. Singapore-headquartered Router Protocol said on Friday it has raised $4.1 million in a strategic funding round from Coinbase Ventures, Alameda Research, […]