Page 54 - Startups

Upgrad aims to close March 2022 at $500-million revenue run rate

upGrad, South Asia's largest online higher education company, in its recently held company meeting announced that it aims to close March'22 at half a Billion Dollar Revenue Run Rate.Highlighting the future of online higher education, Ronnie Screwvala, Co-founder, and Chairman firmly believes Higher Edtech is the frontrunner in the overall Education space. "There is just a lot of buzz, and fund 'fan' following in the K12 space worldwide, but the real growth and stable revenues will come from Higher Education when the pandemic settles - in the next couple of years, Higher edtech sector will overtake K12 in emerging and mature markets too.""upGrad is now best-placed, being the most integrated Higher Edtech company - spanning all aspects of LifeLongLearning - from under-grads to test prep to being the first port of call for colleges/universities to go digital through technology & SaaS enablement, to offering degrees in the most sought-after fields for learners to build their careers

Rural fintech startup Jai Kisan raises $30 mn in funding from Mirae Asset

Rural fintech startup Jai Kisan on Monday said it has raised USD 30 million (about Rs 217 crore) in a combination of equity and debt funding led by Mirae Asset

After crossing $1 bn in valuation, Moglix plans to expand globally

The industrial B2B startup for manufacturing plans to tap emerging markets such as Middle East, Southeast Asia, Africa and countries such as Bangladesh, Sri Lanka and Nepal

Corporate card provider Kodo raises $8.75 mn seed from slew of investors

Card spends on Kodo have grown 45 per cent month-on-month for the past 12 months, the company claims

IvyCap leads $6 million funding round in mobility platform Get My Parking

Existing investor IAN Fund also participates. With this Series-A round, startup has raised $10.5 million in all so far

N+1 Capital makes first ever India investment, parks Rs 5 cr in Clensta

Clentsa recently entered a strategic tie-up with pharma brand Cipla for its first commercialised products, Waterless Bodybath and Waterless Shampoo

Bhavin Turakhia-founded Zeta enters unicorn club with $1.4 bn valuation

Banking tech startup attains value after $250 mn funding from SoftBank

The unicorn boom: Shareholder issues

Entrepreneurs must think through their choices on their listing venue, shareholder base, and valuations

Global freight sails out of the digital dark ages, aided by start-ups

A missing load can mean the company pays penalties to wholesale customers for late shipments

IPV backs salon-focused SaaS startup Glamplus with Rs 2-crore funding

Other investors in pre-series A round are Bounce co-Founder Anil G, Sadhan Enterprise MD-CEO Sachin Khandelwal, Transin CEO Sravan Kumar, Byju's AVP Abhishek Daiya and Shadowfax VP Anudeep Nagalia

EdTech startup Tekie raises $1.5mn in seed fund from GSV, Multiply Ventures

Better Capital has also participated in the round

Anand Mahindra, top Silicon Valley investors back space start-up Agnikul

The Chennai-based firm which would be sending small satellites into space is raising $11 million in a Series A funding round led by Mayfield India.

Exits without tears

Book review of The Art of a Happy Exit: How Smart Entrepreneurs Sell Their Businesses

Electrifying mobility: How entrepreneurs changed tack to survive pandemic

To survive the Covid-induced downturn, bike-sharing start-up Bounce changed its strategy and jumped on the EV bandwagon

Start-ups connect India with novel features in times of coronavirus

Companies such as Chingari and Koo roll out audio-only and talk-to-type features to keep people connected amid the pandemic

India vs US listing: Zomato may be test case for start-ups waiting in wings

The IPO will be a litmus test on whether domestic investors have the patience and maturity to deal with loss-making tech companies

Beyond the bottom line: The journey of newsmaker Deepinder Goyal

In FY21, the founder & CEO of Zomato took a steep pay cut from an annual Rs 3.5 crore to Rs 1.6 crore and waived his salary for 36 months starting April 1, 2021

A virtuous cycle of entrepreneurship

According to the Credit Suisse Wealth Report 2020, after stagnating for several years, the number of millionaires in India rose rapidly in the two years before the pandemic

With Temasek's $120 mn, Ronnie Screwvala's UpGrad set for $1 bn valuation

Entrepreneur says his upskilling startup is targeting $2 billion in revenue by 2026.

Edtech start-up upGrad raises $120 mn funding from Singapore-based Temasek

upGrad on Monday said it has raised USD 120 million (about Rs 897.3 crore) from Singapore-based Temasek, making this the first external fund-raise by the edtech major. Since its inception in 2015, upGrad has been 100 per cent owned, funded, and run by its co-founders as a capital-efficient business. upGrad plans to use the fresh capital to further strengthen its team, scale its global market operations and bolster its technology and product capabilities, a statement said. The company will also pursue merger and acquisition (M&A) opportunities, expand graduate and post-graduate degree portfolio in India, and scale up operations to achieve its USD 2 billion revenue goal by 2026, it added. "We welcome Temasek in our mission to power career success for each and every member of the global workforce as their trusted LifeLongLearning partner and drive meaningful career outcomes," upGrad co-founder Ronnie Screwvala said. This capital will further fuel the company's commitment towards ...