Startup news and updates: daily roundup (Aug 10, 2021)


Tier II, III towns witness substantial development in digital payments: Razorpay report

Digital deals have actually continued to grow at a strong rate in the nation with increasing approval in Tier II and III towns, a report by fintech company  Razorpay  stated. Digital deals have actually grown by 80 percent throughout November 30, 2020-August 6, 2021 as versus the previous 250 day-period, showing the strong approval and adoption of digital payments in the nation, the report stated.

India sees addition of 16M tasks in July, mainly in agri, building and construction sectors: CMIE

India experienced an addition of 16 million tasks in July primarily in the farming and building and construction sectors. The number of employed tasks fell by 3.2 million in the exact same month, according to the Centre for Monitoring Indian Economy (CMIE). “ “ India saw an addition of an enormous 16 million tasks in July 2021. All the extra work supplied by India in July was of bad quality. 18.6 million extra individuals were used as little traders and day-to-day wage labourers,” ” CMIE’s MD and CEO Mahesh Vyas stated.

Properly present all problems versus huge online merchants prior to CCI: Goyal to traders

Hours after the Supreme Court declined the pleas of  Amazon  and  Flipkart  versus a CCI probe, Union Minister Piyush Goyal on Monday asked the traders’ neighborhood to “prepare themselves” and provide all their problems versus huge online sellers prior to the regulator to get “justice”. The Commerce and Industry Minister likewise stated big business, which were investing crores on attorneys to guarantee that absolutely nothing takes place on sellers’ problems, have actually stopped working.

Paytm looks for investor nod to more than double ESOP swimming pool to 6.1 crore shares

Digital payments and financing business  Paytm  will look for investors’ nod to more than double the share swimming pool of its staff members’ stock choice plan to over 6.1 crore from 2.4 crore under the existing plan, according to an EGM notification provided by the business on Monday. One97 Communications, the moms and dad company of Paytm, will look for approval of investors at the remarkable basic conference (EGM) on September 2 to offer service charge of president to the business’s Managing Director Vijay Shekhar Sharma.

Raise reveals 100pc acquisition of Mumbai-based Moneylicious Securities

Raise Financial Services on Tuesday revealed 100 pc acquisition of Moneylicious Securities, a Mumbai-based stock broker with subscription of NSE, BSE, MCX, and CDSL. The acquisition has actually gotten all needed approvals from capital markets regulator SEBI, all stock market (BSE, NSE, and MCX) and CDSL. Jayprakash Gupta, Founder of Moneylicious Securities, will sign up with Raise as Co-founder.

CoinDCX is very first crypto start-up to get in unicorn club after $90M fundraise ( Funding)

 CoinDCX , the crypto exchange, has actually closed a $90 million Series C financing round, led by Facebook Co-founder Eduardo Saverin’’ s B Capital Group. The Series C financing round raises CoinDCX’’ s appraisal to $1.1 billion, making it the very first Indian cryptocurrency exchange to reach unicorn status. The round likewise saw involvement from existing financiers such as Coinbase Ventures, Polychain Capital,, Jump Capital, to name a few, along with other experienced financiers.


Crypto investing platform Mudrex raises $2.5 M in seed round ( Funding)

Bengaluru and San Francisco-based crypto property management platform  Mudrex  on Tuesday raised $2.5 million in a seed round led by Nexus Venture Partners with involvement from Village Global, Kunal Shah, Anand Chandrashekharan, and Anjali Bansal. The funds raised will assist Mudrex in scaling up the group and operations, obtaining worldwide regulative compliances, and developing ingenious items.

Competitive examination preparation start-up FlashPrep raises $500K led by Venture Highway (Funding)

FlashPrep, a Bengaluru-based examination preparation buddy that enables candidates to study, self-evaluate and practice by taking tests and difficulties on their research study product, has actually raised $500,000 in a pre-seed round led by Venture Highway. The financing round likewise experienced extra involvement from Better Capital, First Cheque, and a couple of angel financiers. The start-up prepares to utilize the fresh funds to magnify the business and reinforce’s user base and broaden item offerings.


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