You are currently viewing Startup news and updates: daily roundup (Aug 17, 2021)

Startup news and updates: daily roundup (Aug 17, 2021)

[Funding alert] Healthtech wearable glucose tracker Ultrahuman raises $17.5M in Series B investment

Ultrahuman, the wearable healthtech glucose monitor, has raised $17.5 million in Series B funding. This brings the total funds raised so far to $25 million. The fund raised saw participation from – Alpha Wave Incubation (AWI), which is backed by DisruptAD and managed by Falcon Edge, Steadview Capital, Nexus Venture Partners, Blume Ventures, and Utsav Somani’s iSeed fund.

[Funding alert] UpScalio discloses fundraise of $42.5M as part of Series A funding

Five-month-old ecommerce brand investor and operator, UpScalio, has disclosed that it has raised $42.5 million in funding as part of its Series A round. The startup partners with promising digital-first brands that sell on ecommerce marketplaces like Amazon, Flipkart, Myntra and Nykaa, and helps profitably scale them 5-10x. The startup now aims to invest in and grow ecommerce brands.

India ecommerce market grew 25 pc to touch $38B in FY21

The India ecommerce or e-tail market grew by 25 percent during the 2020-21 financial year to touch $38 billion in size. This despite the COVID-19 related lockdowns, and even as the overall retail market shrunk by 5 percent, according to a report. A report by Bain & Company and Flipkart titled – How India Shops Online 2021 – noted, “The fiscal year ending March 2021 was one of contrasts for India’s retail market. The overall retail market shrunk by 5 percent, along with a 7.3 percent contraction in GDP.

Edited by Anju Narayanan

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