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

YourStory presents this daily roundup of the latest startup news and updates from the Indian startup ecosystem and beyond. Here's the roundup for Thursday, October 28, 2021.

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

Thursday October 28, 2021,

2 min Read

Acko turns unicorn with $1.1B valuation after raising $255M in a round led by General Atlantic and Multiples (Funding)

Insurtech startup ACKO Insurance, founded five years ago, is the latest to join the unicorn club after raising $255 million in a Series D round, which has valued the company at $1.1 billion.

Acko is now the 34th startup to enter India's growing list of unicorns, and the second insurtech startup to become a unicorn. Digit Insurance is another insurtech startup, which became a unicorn in January 2021.

Paytm IPO to open on November 8 with share price Rs 2,080-2,150

The much-awaited initial public offering (IPO) of Paytm will open for subscription from November 8 to November 10 and it has been priced in the range of Rs 2,080 and Rs 2,150.

The issue size of the IPO of One97 Communications, the parent company of Paytm has now risen to Rs 18,300 crore from the earlier Rs 16,600 crore. The fresh issue will comprise Rs 8,300 crore and the offer for sale will be Rs 10,000 crore.

BetterPlace acquires OLX People, Waah Jobs

Betterplace on Wednesday said it has acquired OLX People and Waah Jobs to strengthen its portfolio of workforce management solutions and become one of the largest providers of solutions in the blue- and grey-collar gig staffing ecosystem. The company, however, did not disclose the deal size of these acquisitions.


Hyperlocal startup LoveLocal raises $18M in pre-Series B led by Vulcan Capital, others (Funding)

LoveLocal, a hyperlocal ecommerce platform, on Thursday, said it raised $18 million (Rs 143 crore) in a pre-Series B round led by Vulcan Capital, with participation from Klarna Founder and CEO Sebastian Siemiatkowski’s Flat Capital and Alumni Ventures Group and Commerce Ventures.

Founded by Akanksha Hazari, LoveLocal’s current funding round marks the largest round ever raised by a solo woman tech founder in India.

SaaS startup SupplyNote raises $1.2 M in Pre-Series A round led by Venture Catalysts (Funding)

Supplynote , a SaaS platform that helps F&B businesses digitise and automate their supply chain and procurement, on Thursday announced that it has raised $1.2 million in Pre-Series A round, led by Venture Catalysts.

The investment round saw participation from US-based Astor ManagementSOSV, Riso Capital, and Manjal InvestmentsAngelbay, SucSEED Ventures, DevX Fund, Sarcha Advisors, and Faad Network. Including this round, the brand has raised a total of $ 2.8 million since its inception in 2015.