Digital payments startup MobiKwik files for Rs 1,900 Cr IPO
Digital payments startup MobiKwik has filed for an initial public offering to raise Rs 1,900 crore, its draft red herring prospectus showed. The Rs 1,900 crore includes a fresh issue worth Rs 1,500 crore, and the remaining component – Rs 400 crore – will be secondary share sales where existing investors can sell their stakes in the startup.
Flipkart to buyback employee stock options worth Rs 600 Cr
Walmart-owned will undertake a buyback of employee stock options worth about Rs 600 crore, according to sources. On Monday, Flipkart announced raising $3.6 billion (about Rs 26,805.6 crore) in funding from a clutch of investors that valued the ecommerce major at $37.6 billion (about Rs 2.79 lakh crore).
In an email to employees, Flipkart Group Chief Executive Officer Kalyan Krishnamurthy lauded the critical role played by the staff in reaching this milestone.
MPOWER Financing raises $100M from multiple investors (Funding)
MPOWER Financing, which provides education loans for students to study in North America, has raised $100 million in venture funding.
According to MPOWER, the US headquartered startup with its India office in Bengaluru, the fresh round of funding will be used to scale its operations and grow the team in Bengaluru besides providing more financial support for the students.
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CEO and Founder Pankhuri Shrivastava
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Social community platform for women Pankhuri raises $3.2M led by Sequoia’s Surge (Funding)
Pankhuri, a Bengaluru-based social community platform for women, on Tuesday said it raised $3.2 million in funding led by Surge, a rapid scale-up programme by Sequoia Capital India, alongside India Quotient and Taurus Ventures.
Pankhuri lets women in India network, learn, and shop through live streaming, chat, and cohort-based sessions, enabling them to be active participants in beauty and lifestyle conversations online instead of being passive consumers.
Blockchain startup Arcana raises $375K from Coinbase’s Balaji Srinivasan and others (Funding)
Bengaluru-based Arcana Network, the storage layer of Ethereum, with a privacy stack for DApp developers on EVM compatible chains, has raised a seed round from investors Balaji Srinivasan, former CTO of Coinbase, Sandeep Nailwal and JD Kanani, Founders of Polygon (formerly Matic), Kendrick Nguyen, Founder and CEO of Republic and other top angels in the crypto ecosystem.
The funding will help Arcana accelerate its product development, acquire talent and create a vibrant developer community.
