Startup news and updates: daily roundup (June 16, 2021)
Twitter on Tuesday said it had appointed an interim chief compliance officer and details of the official would be shared directly with the IT Ministry soon. The move came after the government gave one last chance to Twitter to comply with the new IT rules, as the microblogging platform had not made immediate appointments of key personnel, mandated under the new guidelines that came into effect on May 26.
The supply price of Bharat Biotech's COVID-19 vaccine Covaxin to the central government at Rs 150 per dose is not sustainable in the long run, the vaccine maker said on Tuesday. Hence a higher price in private markets is required to offset part of the costs, it said in a statement.
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Online furniture seller Saraf Furniture on Tuesday said it would hire 200-250 professionals from the LGBTQ+ community in the current fiscal as part of efforts to promote gender equality at workplace. A detailed plan is being made to constitute an expert committee for the smooth execution of the entire process, Saraf Furniture, which was launched in 2014, said in a release.
Men’s innerwear brand XYXX raises Rs 30 Cr in Series A round (Funding alert)
XYXX, a millennial-friendly brand in the men’s innerwear and comfort-wear space on Wednesday, has raised Rs 30 crore in its Series A round of funding from DSG Consumer Partners and Synergy Capital Partners. Existing investor Sauce.VC led this round. Earlier in September 2019, the Surat-based brand had raised Rs 6 crore in pre-Series A round from Sauce.vc.
Bengaluru-based professional networking and jobs platform Apna has raised Series B funding of $70 million led by Insight Partners and Tiger Global, at a valuation of $570 million. Existing investors Sequoia Capital India, Lightspeed India, Greenoaks Capital, and Rocketship VC also participated in the round. The investment will allow Apna to build more new products, hire best-in-class tech talent, and expand to new geographies