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1947 Tech 🇮🇳: 150
Crypto, Urban Company, Coinbase in India & more!
1. Tiger Global backs Indian crypto startup at over $500M valuation
CoinSwitch Kuber, a startup that allows young users in India to invest in cryptocurrencies, said on Thursday it has raised $25 million in a new financing round as it looks to expand its reach in India, the world’s second-largest internet market and also the place where the future of private cryptocurrencies remains uncertain for now.
Tiger Global financed the entire Series B funding round of CoinSwitch Kuber and valued the three-year-old Indian startup at more than $500 million. The announcement of the Series B comes just three months after CoinSwitch closed its $15 million Series A round from Ribbit Capital, Sequoia Capital India and Kunal Shah. The Bangalore-based startup has raised $41.5 million to date.
2. Urban Company Is India’s 12th Unicorn Of 2021 After A $188-million Funding Round
Home services firm Urban Company has been valued at $2 billion, more than double from late 2018, after raising a $188-million round led by Prosus Ventures (Naspers), as per regulatory filings accessed via Tofler.
The deal makes Urban Company India’s latest unicorn — private firms valued at a billion dollars or more — and the 12th of 2021. India created 11 unicorns in all of 2020.
Two new investors DF International and Wellington Management also participated in the round along with existing investors such as Steadview Capital, Vy Capital and Tiger Global Management.
Worth your attention:
Zomato names four women members to its board Link
Ola Electric to invest $2 bn in battery charging network Link
IITian to lead Coinbase’s India operations, announces big hiring plans Link
India’s next 35 unicorns may include Practo, BharatPe, Eruditus, Vedantu Link
Stanza Living raises over $100 Mn led by Falcon Edge Link
Tiger Global invests in healthcare startup Pristyn Care, valuation more than doubles in six months Link
Temasek invests $120 mn in edtech platform upGrad Link
EdTech startup LEAD School raises $30 million in Series D round Link
Tiger in talks to invest $100 mn in GoMechanic Link
Whatfix in talks to raise up to $90 million from SoftBank VF Link