Startup news and updates: Daily roundup (November 25, 2021)

Spinny raises $248M, turns unicorn

Used car marketplace Spinny has raised Rs 1,849.45 crore ($248 million approximately) from returning and new investors as part of its Series E round, according to filings made with the Registrar of Companies. The Gurugram-based startup, now valued at $1.7 billion, has now become the 39th unicorn.

The round was co-led by Abu Dhabi Growth Fund and returning investor, Tiger Global, which invested nearly Rs 740 crore each in the round. Other investors in the round include Avenir Growth and Arena Holdings, which invested Rs 185 crore each.

Upstox turns unicorn! Raises $25M from Tiger Global as part of ongoing round: Source

Financial technology startup Upstox has crossed the billion-dollar valuation mark in its latest and ongoing fundraising round after raising $25 million from Tiger Global, a source familiar with the matter told YourStory.

The startup is still in the process of completing the round, the source said. A second source acquainted with ongoing talks told YourStory that Tiger Global could invest $100 million in the startup, adding that the deal had not been finalised yet.

Dream Sports on dream ride towards decacorn valuation

Fantasy sport unicorn Dream Sports, the leading sports tech company with brands such as Dream 11, Dream Capital, FanCode, DreamSetGo, Dream Game Studios, and DreamPay in its portfolio, has announced the completion of an investment of $840 million. At $8 billion valuation, the latest funding round is led by Falcon Edge, DST Global, D1 Capital, Redbird Capital and Tiger Global. Existing investors like TPG and Footpath Ventures also participated in the latest funding round, bringing Dream Sports closer to decacorn valuations.