Startup news and updates: Daily roundup (November 18, 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, November 18, 2021.
Paytm makes lacklustre debut at 9pc discount to listing price; Macquarie cuts target price by 40pc, rates 'underperform'
operator One97 Communications' shares fell 9 percent in its debut on the Indian bourses, listing below their issue price of Rs 2,150, as its operational losses weighed on investors' minds.
It opened on the NSE at Rs 1,950 and the BSE at Rs 1,955. By around 11:18 am, its shares were down as much as 22.5 percent from the issue price.
At the day's low, on BSE until 11.18 am, at Rs 1,586.25 apiece the shares witnessed a decline of over 26.2 percent compared to the issue price of Rs 2,150. Also, compared to the day's high of Rs 1,960.05 till the same time, the decline from issue price stood at 8.7 percent.
Sequoia Capital India, 120 angels back Arbo Works (Funding)
Sequoia Capital India and 120 other angel investors have invested an undisclosed amount in former Google executive Caesar Sengupta’s fintech venture, Arbo Works.
The angel investors include CEOs of Fortune 500 companies, startup founders, senior executives from technology and financial institutions and other technology practitioners, said Caesar on social media platform LinkedIn.
Sequoia Capital India, which led the round, did not comment on the board composition or the size of the round.
Google for India 2021: new India-specific products announced to drive digital inclusion
At the seventh edition of Google for India, tech giant Google announced a slate of new product features and partnerships in the country aimed at extending the benefits of India’s growing digital economy to more people.
The US-based company reiterated its commitment to use its earlier announced $10 billion fund for India in digitisation.
Enterprise skilling startup Disprz raises $13M in Series B round led by Dallas Venture Capital and Mars Growth Capital (Funding)
, a leading enterprise skilling startup, on Thursday announced it has raised $13 million in Series B round led by Dallas Venture Capital and Mars Growth Capital.
The round also saw participation from existing investors Go1 (an Australian unicorn in this space), Tara India Fund IV being managed by KOIS, Auctus Capital (Family office of Vikas Phadnis, Co-Founder of Eurokids) and Kae Capital (a leading seed fund). Unitus Capital acted as the financial advisor to the company for this transaction.
