Discover more from 1947 Tech Newsletter 🇮🇳
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.
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.
I mean just take a look at that pace:
Worth your attention:
China’s tech investors turn from India to Indonesia Link
Sequoia’s Surge selects 17 startups for its fourth cohort Link
Indian SaaS firms set to rake in $18–20 billion revenues by 2022: Report Link
The pandemic pushed everything online, pharmacies are now set to make the most of it Link
India to build commercial tech for mobile base station Link
2-year-old CRED valued at $800 million after $80 million funding round Link
Stack Overflow signs strategic partnership with Times Bridge Link
Ritesh Agarwal joins MPL’s Series B round Link
Vegan skincare startup Plum raises Rs 110Cr led by Faering Capital Link
Screwvala’s upGrad in final negotiations to raise up to $150 million Link