Shiprocket, a tech-enabled logistics aggregator for D2C sellers, has announced on Thursday that it has raised $27 million (Rs 200 crore) in Series C3 funding round. The round was co-led by Tribe Capital, a leading Silicon Valley-based venture capital firm, along with March Capital, a Santa Monica-based venture growth firm. Rahul Mehta of DST Global also participated in the round along with existing investor Bertelsmann India Investments.
Team at Shiprocket
Tech firm OutSystems on Wednesday said it has raised $ 150 million (about Rs 1,092 crore) capital, co-led by Abdiel Capital and Tiger Global, valuing the company at $ 9.5 billion. The funding will be used to expand investments in its R&D and GTM (go-to-market) strategy, a statement said. Founded in Portugal in 2001, OutSystems modern application platform tools help developers rapidly build and deploy a full range of applications.
YourStory presents this daily roundup of the latest startup news and updates from the Indian startup ecosystem and beyond. Here's the roundup for Wednesday, February 17, 2021.
IT services major Infosys on Thursday said it will invest an additional $ 1 million (about Rs 7.2 crore) in ideaForge Technology, a UAV systems manufacturing company. In 2016, Infosys had announced investing in ideaForge, an Indian start-up focused on unmanned aerial vehicle or UAV solutions (drones)
Walmart-owned Flipkart on Thursday said it has partnered with Maharashtra Small Scale Industries Development Corporation and Maharashtra State Khadi & Village Industries Board to bring local artisans and small as well as medium businesses into the ecommerce fold. The partnership under Flipkart Samarth programme will enable Maharashtra s local artisans, weavers, craftsmen and smaller industries to showcase their hallmark products like Khadi, Paithani sarees, wooden toys, handmade artefacts, jewellery and paper products, purses and other key handicraft products to customers across the country, a statement said.
Future Retail Ltd (FRL) on Monday said the Delhi High Court has ruled that statutory authorities cannot be restrained from acting in accordance with the law and stayed a previous order on the status quo of its Rs 24,713 crore deal with Reliance.
Updating stock exchanges about the court ruling, FRL said a Division Bench comprising Chief Justice DN Patel and Justice Jyoti Singh has stayed the operation and effect of order passed by single Judge J R Midha on February 2.
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Mumbai-based new-age digital finance NBFC Eduvanz on Tuesday announced it has raised $10 million in debt funding from multiple financial institutions including InCred Financial Services, Vivriti Capital, and Northern Arc Capital.