This week in Indian Startup News, Ola launches EV category in London, Simple Energy to launch their Ather 450X killer - Mark 2, PUBG starts pre-registrations, Made in India cryptocurrency Polygon makes it among the global top 20, Emeritus acquires iD Tech and PhonePe looking to acquire Indus OS.
In funding news, Pine Labs raises $285 million, Moglix raises $120 million, Lenskart raises $95 million, GOAT Brand Labs in talks to raise $20 million, Agnikul Cosmos raises $11 million and another space tech startup Skyroot Aerospace raises $11 million.
00:00 Introduction
00:36 Ola launches EV category in London
01:58 Simple Energy to launch their Ather 450X killer - Mark 2
03:00 Made in India cryptocurrency Polygon makes it among the global top 20
04:25 PUBG starts pre-registrations
05:15 Emeritus acquires iD Tech
06:10 PhonePe looking to acquire Indus OS
06:40 Pine Labs raises $285 million
07:40 Moglix raises $120 million
08:26 Lenskart raises $95 million
08:47 GOAT Brand Labs in talks to raise $20 million
09:29 Agnikul Cosmos raises $11 million
10:00 Skyroot Aerospace raises $11 million
Ola launches EV category in London: Ola has launched the EV category for their customers in London – allowing them to book electric vehicles exclusively. The company claims to have onboarded 700 drivers already and they are hoping to get more drivers soon as they are not going to charge any commission from their drivers for the first three months.
Simple Energy to launch their Ather 450X killer - Mark 2: Simple Energy is launching its electric scooter Mark 2 on 15th August (Independence Day). With a range of 240 km and a top speed of 100 km/hr, Mark 2 is priced at Rs 1.1 lakh – making it a perfect competitor to Ather 450X.
PUBG starts pre-registrations: After months of wait and trying to launch PUBG India, the game is finally back as Battlegrounds Mobile India. While the official launch date is yet to be announced, the game has started pre-registrations.
Made in India cryptocurrency Polygon makes it among the global top 20: Polygon (formerly known as Matic Network) has a market capitalization of $13 billion – making it the 15th largest cryptocurrency in the world. Its market cap has grown 10X since February.
Emeritus acquires iD Tech: Edtech startup Emeritus has acquired iD Tech for $200 million as it looks to enter K12 learning and eyes the US market – pitting them against Byju’s Future School.
PhonePe looking to acquire Indus OS: PhonePe is in advanced talks to acquire Indus OS for $60 million as it looks to strengthen its mini-app store ‘Switch’ and eyes its own super app.
Pine Labs raises $285 million: Digital commerce and payments platform Pine Labs has raised $285 million from the likes of Marshall Wace, Baron Capital Group, Duro Capital, Moore Strategic Ventures & Ward Ferry Management at a valuation of $3 billion.
Moglix raises $120 million: B2B ecommerce startup Moglix has raised $120 million led by Falcon Edge Capital and Harvard Management Company – making it India’s 12th unicorn this year.
Lenskart raises $95 million: Omnichannel eyewear brand Lenskart has raised $95 million from KKR as it plans to expand abroad and strengthen its VR technology.
GOAT Brand Labs in talks to raise $20 million: GOAT Brand Labs is expected to raise $20 million from Tiger Global, Mayfield Fund and Flipkart’s venture fund.
Agnikul Cosmos raises $11 million: Space tech startup Agnikul Cosmos has raised $11 million led by Mayfield India as it gears up to to become India’s first private company to launch satellites in space next year.
Skyroot Aerospace raises $11 million: Space tech startup Skyroot Aerospace has raised $11 million led by Greenko Group founders Anil Kumar Chalamalasetty and Mahesh Kolli for the development of their Vikram rocket.
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