1947 Tech 🇮🇳: 134

Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India

1. Tiger Global invests in India’s Unacademy at $2 billion valuation

Unacademy is on fire!

Unacademy, an online learning platform in India, has added two more marquee investors to its cap table. The Bangalore-based startup, which focuses on K-12 online education, said on Wednesday it has raised new funds from Tiger Global Management and Dragoneer Investment Group.

The funding round, which is between $75 million to $100 million in size (according to a person familiar with the matter; Unacademy has not disclosed the figure), valued the four-and-a-half-year-old startup at $2 billion, up from about $500 million in February this year when Facebook joined its list of backers, and $1.45 billion in September, when SoftBank led the round.

Tiger Global invests in India's Unacademy at $2 billion valuation

2. Eightfold.ai enters unicorn club; raises $125M in Series D round led by General Catalyst

Last week Cars24 entered the unicorn club, the week we have Eightfold.ai entering the unicorn club.

With this speed India will surely be home to 100 unicorns by 2025, I wouldn’t be surprised if the number reaches 120+.

Talent intelligence platform Eightfold.ai on Monday said it has raised $125 million in its latest funding round. With this, the Noida-based startup is now valued at $1 billion, making it the latest entrant to the startup unicorn club. The Series D round was led by General Catalyst, and existing investors such as Capital One Ventures, Foundation Capital, IVP, and Lightspeed Venture Partners, the startup said.

[Funding alert] Eightfold.ai enters unicorn club; raises $125M in Series D round led by General…

I mean just take a look at that pace:

Worth your attention:

1. China’s tech investors turn from India to Indonesia Link

2. Sequoia’s Surge selects 17 startups for its fourth cohort Link

3. Indian SaaS firms set to rake in $18–20 billion revenues by 2022: Report Link

4. The pandemic pushed everything online, pharmacies are now set to make the most of it Link

5. India to build commercial tech for mobile base station Link

Funding:

1. 2-year-old CRED valued at $800 million after $80 million funding round Link

2. Stack Overflow signs strategic partnership with Times Bridge Link

3. Ritesh Agarwal joins MPL’s Series B round Link

4. Vegan skincare startup Plum raises Rs 110Cr led by Faering Capital Link

5. Screwvala’s upGrad in final negotiations to raise up to $150 million Link
   
   

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