Page 8 - Unicorn Companies

Healthtech start-up Butterfly Learnings raises $1.5 mn in seed funding

Round saw participation from Insitor Partners, 9Unicorns, Venture Catalysts and a clutch of other investors

Urban Company's consolidated losses more than double to Rs 514 cr in FY22

Home services marketplace Urban Company, formerly Urban Clap, on Friday said its consolidated losses more than doubled to Rs 514 crore in FY22. According to a regulatory filing, the Accel India- and Tiger Global-backed company had posted a loss of Rs 249 crore in FY21. The consolidated income of the unicorn firm grew by 75.7 per cent to Rs 509.2 crore in FY22 from Rs 289.8 crore in the preceding financial year. According to Tofler, parent firm of the company Urbanclap Technology India Private Limited has posted a loss of Rs 404 crore during FY22, which is 95 per cent more compared to previous fiscal, and the revenue of the company increased by 36 per cent to Rs 387 crore. "Urbanclap Technology India Private Limited, a home services marketplace, reported its revenues for the financial year 2021-22 as Rs 387 crore, a 36 per cent jump since the last financial year. The company further reported a net loss of Rs 404 crore during the same fiscal. This is a 95 per cent increase from the l

Did Byju's bite off more than it could chew?

Education technology company Byju's FY21 revenues came in flat, and its losses have widened about 20 times. While it may survive this crisis, questions still remain around the future of the unicorn

Byju's audited revenue expected to be lower than projected numbers

Byju Raveendran, co-founder and the CEO of the unicorn, has briefed the shareholders and the board members about the difference

India edges out China in creating new unicorns in H1CY22: Hurun report

As many as 147 unicorns worldwide saw their valuations drop in the last six months

SoftBank, others in talks to lead $75-million funding in GoMechanic

"The conversations between the investors and GoMechanic are still going on and one of the investors has also shared the term sheet with the firm," said a person familiar with the development

Online pharmacy platform Tata 1mg turns unicorn after raising $40 mn

Funding round was led by Tata Digital; Tata 1mg has become 105th unicorn in India

MCA mulls imposing fines on unicorns over delay in filing financials

Swiggy had delayed its FY21 result filing by 11 months and Ola Electric was at least 13 months late in filing the financials with the RoC

Unacademy CMO Karan Shroff quits firm year after being made partner

CEO recently said edtech unicorn may see a funding dry spell for at least 12-18 months and it would cut costs

BlackSoil crosses $300 mn in venture debt deals, predicts robust market

Company that provides debt capital says its assets under management have grown 55% YoY

Startups increasingly raising venture debt as investors fear funding winter

Most investors are more cautious in deploying capital towards growth businesses, especially in late-stage startup investments, which are key drivers in a funding cycle

Servify raises Rs 520 crore in new round; aims for IPO in two years

Servify, a company that manages lifecycle of devices for several smartphone vendors in many markets, on Wednesday said it has raised USD 65 million (around Rs 520 crore) in a round led by Singularity Growth Opportunity Fund. The startup, which serves global brands like Samsung and Apple, has raised the money at a valuation which is just under USD 1 billion, its founder Sreevathsa Prabhakar told PTI, adding that it would have achieved the 'unicorn' status after this round itself, if not for a few challenging conditions set by investors. It has consciously raised money from domestic investors in this round because it aims to go public through an Initial Public Offering (IPO) in the next 18-24 months, he said. Investors in the new round include family offices like that of Pidilite, and also existing investors like Iron Pillar, BEENEXT, Blume Ventures, and DMI Sparkle Fund, he said, adding there is a possibility of it raising another USD 5-7 million in the next month to close the round

Why Bengaluru might get a 'unicorn' logo and where it might be placed

A unicorn logo. That's how Karnataka hopes to celebrate Bengaluru, a city that has the most number of startups and unicorns in the country

upGrad launches new upskilling programme; aims to enable 75,000 jobs

Bucking the slowdown trend within the edtech sector, upGrad said it has remained bullish with its program completion rate of 80 per cent

Unicorn status to WeWork co-founder's real estate startup 'Flow' pre-launch

WeWork co-founder and former CEO Adam Neumann receives $350 million funding from top investment fund Andreessen Horowitz (a16z) for his upcoming business named Flow

The young kings of Silicon Valley are dismounting their unicorns

They rode unicorns to fame and fortune. In a rocky market, it got a little less fun

SoftBank, JP Morgan connect 10 unicorns mulling IPO in 3 years with MFs

SoftBank, through SoftBank Vision Fund, has invested USD 15 billion in India of which around USD 11 billion has been invested in the last five years

26-yr-old winemaker Sula to test Indian IPO market after tech unicorns flop

Sula Vineyards Ltd., which last month filed for an initial public offering, says it has over a 50% share of India's small but rapidly growing wine market

BharatPe founder Bhavik Koladiya quits, months after Ashneer Grover's exit

According to a media report, Koladiya's departure is due to a disagreement between him and BharatPe as well as the company's Chief Executive Officer Suhail Sameer.

Asian unicorns are trading 40% cheaper than 6 months ago in private markets

"For some of the unicorns, we are seeing very limited demand," Patel said, adding that bid offers are 25% to 50% lower compared with the firms' latest fundraising valuations.