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This week in Indian Startup News, 800 Whitehat Jr Employees resign, Swiggy shuts down supr daily, OYO IPO under trouble, Ola’s chief marketing officer resigns.
In funding and acquisition news, Great Learning Acquires Northwest Executive Education, OYO Acquires Croatia-Based Hospitality Service Provider Direct Booker, Ather Energy raises $128 Million, SirionLabs raises $85 Million and more.
00:00 Introduction
00:25 800 Whitehat Jr Employees resign
01:35 Swiggy shuts down Supr Daily
02:45 OYO IPO under trouble
03:59 Guardian Link's new Cricket NFT game
05:07 Ola’s chief marketing officer resigns
06:17 Great Learning Acquires Northwest Executive Education
06:56 OYO Acquires Croatia-Based Hospitality Service Provider Direct Booker
07:24 Ather Energy raises $128 Million
08:22 SirionLabs raises $85 Million
08:50 Funding Analysis Segment
800 Whitehat Jr Employees resign: At least 800 Whitehat Jr Employees have resigned in last two months as company asked all these employees to come to office from April 18. According to these employees, 1 month notice period is very less to move to a new city to join office and also company isn't giving a salary hike to these employees.
Swiggy shuts down Supr Daily: Swiggy has shut down it's subscription based service Supr Daily in five out of six cities. It will continue in Bengaluru for now. Supr Daily was a daily delivery service for stuff like Milk, Bread and Eggs. Company has decided to shut it down to focus on its core business of food delivery and Grocery Delivery.
OYO IPO under trouble: Federation of Hotel and Restaurant Associations of India (FHRAI) has reached out to SEBI asking to cancel OYO's upcoming IPO. According to FHRAI, Oyo is continuously running in losses, and it's IPO will make founders and management rich, while making common public poor. OYO has filed its DRHP in Sept 2021, and company is expected to go public in 2023.
Ola’s chief marketing officer resigns: Ola's chief marketing officer Varun Dubey has resigned from the company amidst other high profile exits like CTO Dinesh Radhakrishnan, CEO of Ola Cars Arun Sirdeshmukh, its Chief Financial Officer Swayam Saurabh, Chief Operating Officer Gaurav Porwal, HR head Rohit Munjal and General Counsel Sandeep Chowdhury.
Great Learning Acquires Northwest Executive Education: Byju’s-owned upskilling platform Great Learning has acquired Singapore-based Northwest Executive Education for a $100 million cash and stock deal. This acquisition will allow Great Learning to expand it upskilling offerings to senior employee segment as well.
OYO Acquires Direct Booker: Travel and hospitality platform OYO has acquired Europe based company ‘Direct Booker’ for $5.5 million. Direct Booker’s portfolio primarily consists of vacation rental homes and this acquisition will strengthen OYO’s presence in Europe broadly and Croatia specifically.
Ather Energy raises $128 Million: EV startup Ather energy has raised $128 Million in it's series E round led by National Investment and Infrastructure Fund (NIIF) and Hero MotoCorp. The company plans to use the funds raised to expand its manufacturing facilities, invest in research and development, charging infrastructure and to grow its retail network.
SirionLabs raises $85 Million: SaaS Platform Sirionlabs has raised $85 Million in its series D round. SirionLabs is focussed on contract lifecycle management and the company will use the fresh capital to boost product innovation and expand its enterprise customer base.
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