Here’s a closer look at today’s startup news and everything you need to know.
#1. India is home to 21 unicorns, collectively valued at $73.2 billion: Hurun Global Unicorn List 2020
India is now the world’s fourth largest unicorn base, home to 21 startups valued above a billion dollars with a collective valuation of $73.2 billion according to Hurun Global Unicorn List 2020. Paytm is India’s most valued unicorn followed by OYO and Byju.
While one third of Indian unicorns are operating in the ecommerce space, Softbank takes the lead in investing into Indian unicorns. Ola Electric is the youngest unicorn on the list, being founded in 2017 and is followed by Udaan which was founded in 2016. As per the report, Bengaluru is India’s unicorn capital with eight unicorns, followed by Gurugram and Noida, home to six and two unicorns respectively.
#2. DST Global to invest in Byju’s
DST Global, the investment firm led by Russian billionaire Yuri Milner is in advanced talks to lead a $400 million investment in ed tech firm Byju’s according to Moneycontrol.com. Byju’s raised an undisclosed amount from tech mogul Mary Meeker’s BOND Capital in June valuing the online education company at $10.5 billion.
#3. SaaS-based startup inFeedo raises $700,000 from Y Combinator and others
SaaS-based people analytics startup inFeedo raises $700,000 from Y Combinator and a clutch of Indian founders and CEOs Ritesh Malik, Peyush Bansal, Vinod Muthukrishnan, Anand Chandrasekaran, Sunder Nookala and Anil Advani. With this funding, inFeedo’s short-term vision is to double down on hiring to fill up key management roles from chief operating officer, chief managing officer to chief technology officer. It is also planning to expand its customer base, to generate revenue worth $10 million.
#4. TagHive to make schools smart across 52 districts in Madhya Pradesh
Samsung Ventures backed ed-tech startup TagHive has partnered with the Madhya Pradesh government to convert over 2,000 educational institutions into smart schools via its AI powered app Class Saathi. The education tool will help improve learning capabilities of students, even in remote schools with no infrastructure.
#5. Facebook launches commerce and connectivity focussed accelerator programs
Facebook launched its commerce accelerator, a 12-week non-equity program supporting innovative commerce startups who renew shopping experiences for buyers and sellers. The accelerator will focus on B2B or B2B2C startups with Seed to Series A maturity in Europe, Middle East or Africa. Participating startups will gain access to cost-free training, 1:1 mentorship and access to Facebook products, its expertise and access to a global network of startup peers and successful founders.
#6. President Trump wants TikTok deal cut for US
US president Donald Trump on Tuesday said that Microsoft should pay US Treasury for facilitating the TikTok deal, if it goes through. He also added that the tech major should also look at buying the Chinese-owned social media platform for its entirety.