Trending Startup News -15 July 2023

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ISRO Successfully Launches Chandrayaan-3, India’s Third Lunar Mission

The Indian Space Research Organisation (ISRO) successfully launched Chandrayaan-3, India’s third lunar mission, on Thursday, July 13, 2023. The launch took place at 2:43 p.m. IST from the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh.

Zepto’s Early Investors Reap Massive Returns – Up to 6,000% Gain in Secondary Markets

Bengaluru, India – July 13, 2023 – Early investors in Zepto, a quick commerce startup, have made massive returns on their investments. Shares of the company are trading at a premium of up to 6,000% in secondary markets.

Flipkart’s Current and Former Employees Receive $700 Million in ESOP Payout

Bengaluru, India – July 13, 2023 – Flipkart, India’s leading e-commerce company, has announced that it will be paying out $700 million in employee stock ownership plan (ESOP) payouts to its current and former employees.

Supreme Court Sets Date for Google and CCI Case on Android Mobile Device Issue

New Delhi – July 13, 2023 – The Supreme Court has set a date for the hearing of the case between Google and the Competition Commission of India (CCI) on the issue of Android mobile devices. The hearing will take place on October 10, 2023.

Yubi’s Valuation Soars to $1.5 Billion Following Successful Secondary Sale by Investors

Bengaluru, India – July 13, 2023 – Yubi, a digital lending platform, has seen its valuation soar to $1.5 billion following a successful secondary sale of shares by investors. The sale was led by Insight Partners, with participation from Dragoneer Investment Group and B Capital Group.

EV aggregator LetsTransport raises $25 million from Bertelsmann, others

Bengaluru, India – July 13, 2023 – LetsTransport, an EV aggregator, has raised $25 million in funding led by Bertelsmann India Investments (BII). The round also saw participation from existing investors such as Sequoia Capital India, Blume Ventures, and Matrix Partners India.

Myntra Launches ‘Rising STARS’ Program to Empower D2C Fashion and Lifestyle Brands

Bengaluru, India – July 13, 2023 – Myntra, India’s leading fashion e-commerce platform, has launched the ‘Rising STARS’ program to empower direct-to-consumer (D2C) fashion and lifestyle brands. The program is designed to help D2C brands scale their businesses and reach a wider audience.

AayushBharat Secure Early-Stage Funding

Jaipur, India – July 13, 2023 – AayushBharat, an AI-powered platform that connects patients with Ayush practitioners, has secured early-stage funding from Inflection Point Ventures (IPV). The round also saw participation from angel investors such as Ashish Gupta, Founder of Akash Ventures, and Ritesh Malik, Co-founder of Innov8.

Edtech startup Skill-Lync sacks close to 160 employees in a fresh round of layoffs

Bengaluru, India – July 13, 2023 – Skill-Lync, an edtech startup, has laid off close to 160 employees in a fresh round of layoffs. The layoffs, which affected employees across functions, come at a time when the edtech industry is facing headwinds due to a funding crunch and a slowdown in demand.

Fintech Company ECL Raises $7 Million in Pre-Series A Funding

Bengaluru, India – July 13, 2023 – ECL, a fintech company that provides non-dilutive capital to B2B SaaS companies, has raised $7 million in pre-Series A funding. The round was led by QED Investors, with participation from existing investors Lightspeed Venture Partners, Kalaari Capital, and MassMutual Ventures.

Article by ca Pankaj Dara

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