Trending Startup’s News – 20 July 2023

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Direct-to-consumer (D2C) Footwear Startup Solethreads Raises $3.7 Million in Series A Funding

Solethreads, a Gurugram-based direct-to-consumer (D2C) footwear startup, has raised $3.7 million in Series A funding led by Fireside Ventures. The round also saw participation from existing investors DSG Consumer Partners and Saama Capital.

Same-Day Delivery Startup Blitz Secures $3M Funding From India Quotient, Better Capital, Others

Blitz, a Bengaluru-based same-day delivery startup, has raised $3 million in funding led by India Quotient. The round also saw participation from Better Capital, First Cheque, Titan Capital, and angel investors such as Kunal Shah, Farid Ahsan, Abhinav Jain, Rahul Dash, Prabhkirandeep Singh, Ishendra Agarwal, Kalpak Chhajed, Arjun Vaidya, Gaurav Pushkar, Piyush Kedia, and Anshoo Sharma.

Tata Group to Invest Over $5.2 Billion in UK Gigafactory for EV Batteries, Creating Thousands of Jobs

Tata Group, an Indian multinational conglomerate, has announced plans to invest over $5.2 billion in a gigafactory for electric vehicle (EV) batteries in the United Kingdom. The factory, which will be located in the West Midlands, is expected to create up to 3,000 jobs during construction and 10,000 jobs once operational.

Government-backed ONDC Targets 200,000 Daily Transactions on its E-Commerce Platform

The Open Network for Digital Commerce (ONDC), a government-backed e-commerce platform, is targeting 200,000 daily transactions by the end of this year. The platform, which was launched in April 2022, currently has over 100,000 sellers and 200,000 products listed.

Jimmy’s Cocktails Secures $3 Million in Extended Pre-Series A Funding Led by Prath Ventures

Jimmy’s Cocktails, a Gurugram-based ready-to-drink (RTD) cocktail brand, has secured $3 million in extended pre-Series A funding led by Prath Ventures. The round also saw participation from existing investors such as Vijay Shekhar Sharma of Paytm, Neel Bahl, and existing investors Keki Mistry (HDFC), Vishesh Khurana (Shiprocket), 7Square Ventures, Vidur Talwar, and Anirudh Somani.

Temasek Holdings Sets Sights on $10 Billion Investment in India

Temasek Holdings, a Singapore state-owned investment company, has set its sights on investing $10 billion in India over the next three years. The investment will focus on sectors such as technology, healthcare, and infrastructure.

OYO Launches New Brand ‘Palette’ to Expand into Premium Resorts and Hotels

OYO, a leading hospitality chain in India, has launched a new brand called Palette to expand into the premium resorts and hotels segment. The new brand will offer a differentiated experience to guests with features such as spacious rooms, modern amenities, and personalized service.

boAt Plans IPO in FY25-FY26: Co-Founder Aman Gupta

boAt, a leading audio and wearables brand in India, has announced plans to go public in the financial year 2025-2026. The company’s co-founder, Aman Gupta, made the announcement in an interview with CNBC-TV18.

GST officials visit edtech major upGrad’s office

GST officials visited the office of upGrad, an edtech major, on Wednesday, July 19, 2023. The officials reportedly visited the office to conduct a routine survey. upGrad is a leading online education company that offers a variety of courses, including MBA, engineering, and data science. The company has over 1 million students enrolled in its courses.

Ascend Capital to raise Rs 500 Cr to finance one million electric commercial vehicles

Ascend Capital, a Jaipur-based electric commercial vehicle (eCV) financing company, has announced plans to raise Rs 500 crore to finance one million eCVs over the next three years.

3000 resumes in 48 hours: Bengaluru-based tech start-up founder expresses shock over poor job market

A Bengaluru-based tech start-up founder, Kartik Mandaville, has expressed shock after receiving over 3000 resumes in just 48 hours of posting a job opening on his company’s website. Mandaville said that he was “blown away” by the number of applications and that he had never seen anything like it before.

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