Here are the top stories that made the news in June'21 in India's Startup Ecosystem:
More Unicorns - BrowserStack becomes the seventh SaaS company to enter the Unicorn club at a post-money valuation of $4B.
Done deal! IPO bound Zomato is investing $120M in Grofers at a valuation of $1B. And you thought Zomato is done with making news, eh?
With this, the world's unicorn population is now over 700, and Paytm and BYJU'S are the two Indian unicorns to feature in the top 20 list of unicorns. Yeah, that sense of pride is mutual!
BYJU’S at the top - Speaking of BYJU’S, the Edtech unicorn has surpassed fintech major Paytm to become India's most valuable startup after its latest round of funding, at a post-money valuation of $16.5 billion. BYJU’S is also the most valuable Edtech Startup in the entire world, having acquired 9 companies in the education space over 10 years of its existence, to achieve this feat.
Paytm is not falling behind - It seems the fintech Startup will not settle for second place. As decided in its latest board meeting, the Startup is likely to raise about $3B in its initial public offering (IPO) scheduled for later this year. That’ll make it the biggest Indian IPO ever.
In a first of its kind, Health-tech Startup PharmEasy acquired a 25-year-old listed company Thyrocare. This follows other major brick-and-mortar acquisitions made by other Indian Startups like BYJU’S acquisition of Aakash, BharatPe-PMC Bank deal and the Groww acquisition of the IndiaBulls AMC business.
Logistics startup Delhivery raises $275M in Series H round led by Fidelity Management and Research Company. With the fresh capital, Delhivery's valuation is expected to rise to over $3B.
The Enforcement Directorate issued a show-cause notice to the country's largest cryptocurrency exchange - WazirX, for undertaking transactions worth over Rs 2,790 crore in alleged violation of the Foreign Exchange Management Act (FEMA).
In Startups vs Covid this month, Paytm launched a vaccine appointment booking feature on its app. Swiggy has launched ‘Swiggy Suraksha’, a special care package that prioritizes the health and safety of its delivery partners and their families. Meanwhile, PhonePe announced a relief package of Rs 2 lakh as a COVID-19 allowance for employees who need emergency medical funds. The sum is not required to be repaid.
This article is a part of June'21 edition of our Startup Newsletter. Here's the complete publication:
