Startup news and updates: Daily roundup (September 28, 2021)

IPO-eyeing MyGlamm, now Good Glamm Group, targets $250M profits run rate

After closing its Series C financing of Rs 355 crore from Accel Partners in July this year,  MyGlamm , which has actually combined all its entities and acquisitions under one umbrella brand name as the Good Glamm Group, has actually raised another Rs 255 crore from Trifecta Capital.

Including the Rs 610 crore raised in the current series, Good Glamm Group has actually allocated an investment of Rs 750 crore for tactical efforts. The group is seeking to release these funds into its combined service — — MyGlamm, POPxo, Plixxo, and the just recently obtained BabyChakra.

Facebook is investing $50M to ‘properly’ develop the metaverse

In a statement the other day,  Facebook  stated it is investing $ 50 million to partner with organisations to “properly” construct the metaverse – a digital world that users can access through a series of gadgets and move and interact in its virtual environment.

Facebook discussed that its brand-new XR Programs and Research Fund will invest the cash internationally over 2 years to make sure metaverse innovations are ” integrated in a manner in which’s inclusive and empowering”.

 Mark Zuckerberg

Facebook CEO Mark Zuckerberg

B2B start-up bijnis raises $30M in Series B round led by Westbridge Capital (Funding)

B2B factories platform  Bijnis (Shoekonnect)  has actually raised $ 30 million in Series B financing round. The round was led by Westbridge Capital, with involvement from existing financiers — — InfoEdge, Matrix Partners India, Sequoia India, and Waterbridge Ventures.

Myntra includes storage facility in Kolkata, broadens total storage capability ahead of joyful season

Fashion e-tailer  Myntra  on Monday stated it has actually established a fulfilment centre in Kolkata and enhanced its supply chain network throughout the nation ahead of the upcoming joyful season.

Myntra has actually included one FC, 3 mom centers, 12 satellite centers, and 171 circulation centres to improve capability substantially for greater storage volumes and optimise last-mile shipments even more, a declaration stated.

Fintech start-up Capital Float raises $50M from Lightrock India (Funding)

Fintech significant  Capital Float  on Tuesday stated it has actually raised $50 million in an equity financing round led by Lightrock India. Brand-new financiers such as David Velez, Founder of Nubank, Latin America’s biggest fintech company;  Cred  creator Kunal Shah; and Amrish Rau, CEO of  Pine Labs , likewise bought the start-up’s newest round.

Capital Float stated it will utilize the funds to scale its BNPL platform, and broaden its partner community.

Manch Technologies protects $1.1 M pre-Series A round led by Bharat Inclusion Seed Fund

Bengaluru-based Manch Technologies, a SaaS-based zero-coding digital improvement platform on Tuesday closed a $ 1.1 million pre-Series A round led by Bharat Inclusion Seed Fund with involvement from Pentathlon Ventures.

The 2017-founded start-up had actually raised previously rounds of financing from lead angel financier Asvini Kumar and his partners. Asvini was the co-founder and CEO of NSE noted Thinksoft Global Services Ltd (now Expleo Solutions Ltd).

 financing Audio material developer and supplier Sochcast raises angel round from Vinners and HNIs (Funding)

Bengaluru-based Sochcast Media has actually raised a concealed quantity in angel financing from Vinners, Media maven Raj Nayak, Ex COO Viacom18, and Amritaanshu Agrawal, ED Mirabaud Group, Dubai.

The financing will be utilized to broaden its initial audio material library by establishing an incorporated tech stack to assist monetisation for material developers.

Maytree School of Entrepreneurship raises financing from Rachit Poddar, Abhimanyu Pratap Singh Tyagi (Funding)

Bihar-based Maytree School of Entrepreneurship has actually raised concealed financing from angel financiers Rachit Poddar and Abhimanyu Pratap Singh Tyagi. Maytree School of Entrepreneurship is a virtual academy begun by Rohit Kashyap in 2020, which coaches start-up creators and those aiming to establish their organizations in semi-urban and rural locations.

Commenting on this statement, Rohit Kashyap, CEO and Founder, Maytree School of Entrepreneurship, stated, ““ The business has actually seen great development in current times, and our number is doubling every quarter. Maytree School is likewise preparing to begin a corpus fund of $2.5 million to assist early-stage business owners. Maytree School is looking for to raise the next fund at the appraisal of Rs 100 crore in 2022.”

Places with much better health care facilities will bring in more travelers: PM Modi

Asserting that health care has an extremely strong relationship with tourist, Prime Minister Narendra Modi on Monday stated locations where more individuals have actually been immunized versus COVID-19 and which have much better health care facilities will bring in more travelers, particularly in the wake of the pandemic.


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