UpGrad acquires Wolves India for an Undisclosed Sum
Upgrad rekrut, a hundred percent subsidiary of Indian edtech unicorn Upgrad, acquired Wolves India. The acquisition took place on July 14, 2022. Wolves India is Bangalore-based recruitment and staffing firm. The company did not reveal the financial details of the transaction. Purpose of the acquisitions by Upgrad As a part of the deal, Wolves India continues to operate independently under the...
How does the Digital Yuan Offer too Many Benefits?
The rapid growth of digital currency in the market can help China's digital economy in need. Thanks to the way it has made the transaction simple and helped many bring in the fifth population that allowed many more to remain unbanked in the formal economy. Several governments have been moving quickly with the e-payment domain, further helping dominate the...
Digital Metal to be acquired by Markfoge
The definitive agreement between Markforged and Höganäs AB to acquire Digital Metal, the maker of a leading binder jetting solution renowned for accuracy and dependability, has been signed. This acquisition will expand Markforged's capabilities into high-throughput production of metal additive parts. Markforged is the developer of the integrated metal and carbon fiber additive manufacturing platform, The Digital Forge. After acquiring...
India-based Fintech startup OneCard raises USD 102 million in Series D
OneCard, a mobile-first credit card firm, is on track to become India's 104th unicorn and the 19th of the current calendar year (2022). The parent company of OneCard, FPL Technologies, completed a USD 102 million Series D fundraising round on 13th July 2022 that was coordinated by Temasek Holdings of Singapore (via MacRitchie Investments). The brand of mobile-only credit cards...
Lightspeed raises USD 500 million for Indian and SE Asian Startups
Silicon Valley-headquartered venture capital firm Lightspeed Venture Partners raised USD 500 million on July 12, 2022. The recent funding of the company is a part of its global fundraise of USD 7 billion. Purpose of Fundraise by Lightspeed The recent corpus of USD 500 million is to fund startups in India and Southeast Asia. The company seeks to deepen its commitment...
Hyperface raises USD 9 Million in Seed Funding
On July 13, 2022, Banglore, India-based credit card as-a-service startup Hyperface raised USD 9 million. 3one4 Capital led the seed funding round for the firm. Existing investors such as Global Founders Capital and Better Capital also joined in the investment. Meanwhile, new investors, including Flipkart ventures, Groww, and Rebalance Angel Community, participated in the round. Utilization of Funds by Hyperface With...
Israel-based AI startup AI21 Labs raises USD 64 million in Series B
On July 12, 2022, A USD 64 million series B investment round for AI21 Labs, an Israeli firm that wants to alter how people read and write radically, was completed, raising the company's valuation to USD 664 million. Existing investors Prof. Amnon Shashua, Walden Catalyst, Pitango, TPY Capital, and Mark Leslie joined Ahren in leading the round. The company has...
Berlin-based insurtech startup Wefox raises USD 400 million in Series C funding
Wefox, a Berlin-based insurtech company, has raised USD 400 million in Series D fundraising, which includes both stock and debt, to reach a valuation of USD 4.5 billion on July 12, 2022. Mubadala Investment was the lead investor in the round, and other investors included EDBI, Eurazeo, LGT, Horizons Ventures, OMERS Ventures, and Target Global. Over five investment rounds, the...
Mfine Announces Merger with Lifecell International
Bangalore, India-based digital healthcare startup Mfine announced a merger with the diagnostic business of Lifecell International. The new entity is called LifeWell. Lifewell also raised USD 80 million in a recent funding round. New York-based, healthcare-driven venture capital OrbiMed led the funding for LifeWell. The round took place on July 11, 2022. Purpose of Funding and the Merger With the recent...
Wheelocity raises USD 12 Million in Series A funding
Gurugram, India-based early-stage supply chain startup Wheelocity raised USD 12 million in Series A funding. The round took place on July 12, 2022. Lightspeed India Partners led the financing for the firm. Meanwhile, Anicut Capital, along with other investors, participated in the Series A round. The transaction is a mixture of debt and equity; wherein, the debt amounts to USD...
