Startup news and updates: daily roundup (August 6, 2021)
The Supreme Court on Friday ruled in favour of ecommerce giant Amazon by holding that Singapore's Emergency Arbitrator (EA) award, restraining the Rs 24,731 crore merger deal of Future Retail Ltd (FRL) with Reliance Retail, was valid and enforceable under Indian laws.
Bengaluru-based deeptech video analytics startup Pixuate has secured $1 million in seed round from SucSEED Indovation Fund and other investors, including Mumbai Angels Network, CIIE-IIM Ahmedabad and few eminent angel investors. Pixuate has also recently received debt funding support from the Technology Development Board (TDB), a nodal agency of the Government of India.
Founders and core team
Sportstech startup Playo has raised $500,000 as a part of its ongoing pre-Series A round from ah! Ventures High Tables platform and other angel investors. This is ah! Ventures’ 18th investment in 2021 and three more investments will be announced shortly.
Headquartered in Bengaluru, Playo is a one-stop platform for sports enthusiasts focusing on building micro-communities and enabling sports/fitness related services targeting urban adult users. With a business model focusing on three Cs- Community, Content and Commerce and 1.5 million users, Playo is today a platform for amateur sports globally.
Health and wellness platformon Friday said it raised $20 million in a Series B round led by Eight Roads Ventures (a global investment firm backed by Fidelity), San Francisco-based Think Investments, and the Mankekar Family Office.
The round has also seen participation from Vishal Agrawal (Vice President, Blackrock Asia), Siddharth Shah and Dharmil Sheth (Co-founders, PharmEasy), Ramakant Sharma (Co-founder, Livspace), and Karan Singh (India Managing Director, Bain & Company).
, a homegrown personal hygiene products startup, on Friday, said it raised Rs 130 crore in Series C round from A91 Partners.
Soothe will use the capital for marketing activities and deepening distribution channels to achieve its goal of establishing Paree as a household feminine care brand in India.
Tech startup Goodmeetings, which helps businesses excel in remote sales, on Friday, announced that it has raised $ 1.7 million (~Rs 12 crore) in pre-Series A round led by Chiratae Ventures. Investment firms FortyTwo.VC, First Check, Adept Ventures, 100X Entrepreneurs, and Atrium Angels participated in this round along with several high net worth entrepreneurs.
Goodmeetings shall use the proceeds over the next 12-18 months to build technology and scale up teams in the US, said Srinivasan Narayan, Co-founder and CEO of Goodmeetings.
Nasdaq-listed tech firm Trimble on Thursday announced the formation of Trimble Ventures that will set up a $200 million (about Rs 1,482.3 crore) venture fund to invest in early and growth-stage innovative companies.
Trimble Ventures will invest in early and growth-stage innovative companies that align with its mission of transforming work in the agriculture, construction, geospatial and transportation industries, a statement said.