Global venture capital firm Accel on Monday said it launched Accel Atoms — the VC firm’s pre-seed funding programme — where it will invest $250,000 in startups with an uncapped convertible.
Speaking on the development, Prayank Swaroop, Partner at Accel, said,
“Basically, we do not take any stake in the company in this round, but the startup gets the money now. And this $250,000 will convert into equity in the next round valuation of the startup.”
Scaler, an edtech upskilling startup backed by Sequoia Capital and Tiger Global, has announced the acquisition of Delhi-based online learning platform Coding Elements in an all-cash deal. This marks the edtech startup’s first acquisition to accelerate business growth. Scaler has also set aside a sizeable fund of Rs 50 crore to explore other avenues of M&As.
Bengaluru-based extracurricular learning startup, Spark Studio has secured an investment from Y Combinator as part of the latter’s S21 batch.
Launched in February 2021 by Anushree Goenka, Kaustubh Khade and Namita Goel, Spark Studio has already scaled to 7,000 users across nine different countries. With Y Combinator’s investment, Spark Studio will invest in building an engaging platform with superlative content and curriculum.
The Finance Ministry on Sunday extended the last date to avail the GST amnesty scheme, under which taxpayers have to pay a reduced fee for delayed filing of monthly returns by three months till November 30.
The GST council, chaired by Finance Minister Nirmala Sitharaman and comprising state ministers, had in May decided to come out with an Amnesty Scheme to provide relief to taxpayers in late fee for pending returns.
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