1947 Tech Newsletter 🇮🇳

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1947 Rise ☀️: 218

1947tech.substack.com

1947 Rise ☀️: 218

shiva singh sangwan
Nov 7, 2022
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1947 Rise ☀️: 218

1947tech.substack.com

SaaS startup Icertis raises $150 million funding from Silicon Valley Bank

Software-as-a-service (SaaS) startup Icertis has raised $150 million through a revolving credit facility and convertible financing from US-based Silicon Valley Bank.

The company said on Monday that it would use the funds to further accelerate the adoption of technologies such as artificial intelligence (AI), machine learning, and blockchain.

Icertis’ latest funding round comes after it raised an undisclosed sum from German enterprise software maker SAP in exchange for a minority stake in January.

Founded in 2009, Icertis provides a contract lifecycle management software that helps businesses manage their contracts. It further helps organisations ensure visibility of these contracts, while helping them maintain compliance with local rules.

SaaS startup Icertis raises $150 million funding from Silicon Valley Bank

Unacademy monthly burn down to $7 million from $20 million: CEO Gaurav Munjal

Unacademy has brought its monthly burn down from $20 million to $7 million, said co-founder and chief executive officer Gaurav Munjal. Taking to Twitter on Friday (November 4), Munjal said, “Winter will get worse. Get to profitability asap. And then grow from there. Stop all unnecessary spends. Focus on building great Products and organic Traction Channels.”

Responding, user Parth Dhebar posted: “Oh, the irony. Isn’t Unacademy burning millions?”

Munjal replied saying, “Burn is down from $20M a month to $7M a month. Will further go down.”

Unacademy monthly burn down to $7 million from $20 million: CEO Gaurav Munjal

A podcast:

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Shiva Singh Sangwan @shivassangwan
1947 Operators 🎙 Founders and operators typically take the following directions: - Start a startup - Join a startup - Become a part-time angel investor - Become a full-time investor Rohit MA is going full-time investing via PeerCapital ✨ Youtube: bit.ly/3fszXCk
2:30 AM ∙ Nov 4, 2022
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Watch the full episode on Youtube: https://bit.ly/3fszXCk


Worth your attention:

  1. Gautam Adani’s group to invest $150 billion in pursuit of $1 trillion valuation Link

  2. Money View in talks with Apis Partners for $150 million funding round at unicorn valuation Link

  3. D2C startup The Sleep Company raises $21.3 million in round led by Premji Invest Link

  4. Cashback and coupons platform CashKaro raises Rs 130 crore in funding Link

  5. Cleantech startup SolarSquare raises Rs 100 crore in Series A funding Link

  6. PharmEasy’s parent raises debt funding Link

  7. Tiger Global-backed Games24x7 launches Rs 400-crore fund for early-stage startups Link

  8. upGrad to invest $30 mn to launch 10 global campuses next year Link

  9. 8i ventures marks first close of second fund worth $50 million Link

  10. Messi is Byju’s brand ambassador for social initiative Link

Thank you for reading. Please share any feedback, questions or comments with me on Twitter :)

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