Page 7 - Start-ups

Suumaya Industries acquires 51% stake in agritech startup payAgri

Suumaya Industries Ltd on Tuesday said it has acquired 51 per cent stake in agri-tech startup payAgri Innovations to expand its farm business. The company did not disclose the deal value. Suumaya Industries, which is into textile business, has recently ventured into agri-commodity business through its 100 per cent subsidiary Suumaya Agro Ltd. Mumbai-based Suumaya Industries, which is listed on the NSE, had posted a net profit of Rs 406 crore and a revenue of Rs 4,263 crore during the last fiscal. The company, through this subsidiary, has acquired a majority of 51 per cent stake in payAgri Innovations Pvt Ltd, a tech-driven agri and food business firm that seeks to address the problems of farmers, processors and consumers in the agri value chain, Suumaya Industries said in a statement. Ushik Gala, Chairman and Managing Director of Suumaya Industries, said, the company has embarked onto an ambitious journey with Suumaya 2.0 strategy. "Diversifying into the agri business is a new pa

AppsForBharat raises $4 mn in seed fund from Sequoia Capital and BEENEXT

The round also saw participation from WEH Ventures. The funds will primarily be used for product development and hiring tech talent

Meet Anita Kishore, the strategist behind Byju's global acquisitions

While the organic growth continues to be strong for Byju's, the edtech giant sees inorganic routes including acquisitions as another pillar for growth and expansion, says chief strategy officer Anita

Startups raised $6.5 bn in Apr-Jun period, 11 new unicorns created: Report

Indian startups received about $6.5 billion in funding in the April-June 2021 quarter, while 11 of them entered the coveted unicorn club, a report by Nasscom-PGA Labs said

Zetwerk joins unicorn club after raising $150-million in Series E funding

This is the second fundraise for the Bengaluru-based company in 2021

Used vehicle startup Cars24 to raise $350 mn from SoftBank, others: Report

The fundraising would also include Falcon Edge Capital and value the startup at close to $2 billion, said the person, asking not to be named because the details aren't public

Hashnode raises $6.7 mn in Series A fundraise led by Salesforce Ventures

This funding follows a $2.1 million seed funding round in December 2020.

Probus Smart Things raises $500,000 led by Unicorn India Ventures

Probus develops integrated hardware and software solutions for utility providers and helps digitise their distribution grid

Despite IPO rush, unicorns chase global direct listing for higher valuation

Indian laws permit listing on international bourses through indirect listing of equity shares through the American Depository Receipt/Global Depository receipts (ADR/GDR)

Sebi notifies relaxed sweat equity rules for new-age technology firms

Markets regulator Sebi has given relaxations on the quantum of sweat equity that can be issued by new-age technology companies listed on the Innovators Growth Platform

Electric vehicle start-ups hunt for low-cost roads to mass production

A few have found investors willing to hand over billions to fund their journey

Rage Coffee raises $5 mn in Series A round led by Sixth Sense Ventures

Rage is disrupting the core instant coffee segment by launching flavored instant coffee (Mocha mint, Irish hazelnut, Dark chocolate, etc) along with products such as roast coffee, and cold brew coffee

5-month-old UpScalio discloses fundraise of $42.5 mn in Series A round

The funding round was led by Presight Capital and an undisclosed global hedge fund, with participation from Heliad Equity Partners, MPGI, 468 Capital and Whiteboard Capital

National start-up council meet: Translation system, maps on agenda

The proposal is to allow apps with over 20 million users to be able to use this system for their user base

LIC, EPFO keen to set up fund for startups, says DPIIT official

LIC and EPFO have expressed their willingness to set up funds for startups to help budding entrepreneurs, a senior official said on Monday

Bharti-backed OneWeb raises $330mn from South Korea's Hanwha Systems

Hanwha brings further defence capabilities and the latest antenna technologies to OneWeb

VerSe Innovation raises $450 mn in Series I funding from global investors

VerSe Innovation's proprietary technology platform serves one out of every two internet users in the country

Can new guidelines on drone operations lift India's drone start-ups?

India has fewer start-ups in the drone technology space than the US and China; it also lags most other economies in funding

Startup Wiz Freight gets $3.5 mn in seed funding from Axilor, others

Digital freight management platform Wiz Freight has raised USD 3.5 million (about Rs 26 crore) in seed funding led by Axilor.

Credgenics raises $25mn in series-A funding, hits valuation of $ 100 mn

The financing round was led by Westbridge Capital and Tanglin Venture Partners