You are currently viewing Startup news and updates: daily roundup (August 3, 2021)

Startup news and updates: daily roundup (August 3, 2021)

Beauty startup Nykaa files papers to raise funds via IPO

Omnichannel lifestyle retailer startup Nykaa has filed a draft red herring prospectus (DRHP) for its initial public offering (IPO) with stock market regulator SEBI.

The Nykaa IPO will comprise fresh issue of shares of up to Rs 525 crore and an offer for sale of up to 4.3 crore shares by existing shareholders. The issue will see promoter Sanjay Nayar Family Trust and other investors such as TPG, Light House India Fund, and JM Financials sell their shares.

Edtech startup Skill-Lync raises $17.5M in Series A round led by Iron Pillar (Funding)

Engineering-focused edtech startup Skill-Lync has raised $17.5 million in Series A funding led by Iron Pillar, a venture growth investor backing global tech companies built from India. The round also saw participation from Y Combinator and Better Capital.

Binny Bansal (Co-founder of Flipkart), Sai Krishnamurthy (ex-Flipkart; Co-founder of Xto10X) and Rashmi Kwatra (Founder of Sixteenth Street Capital) joined as new investors. This is the largest Series A round by an edtech startup.

Fabheads raises additional funds in its pre-Series A round (Funding)

Chennai-based carbon-fibre focused 3D printer startup Fabheads has announced it has raised further funds as an extension of its pre-Series A funding round. After raising Rs 8 crore just a couple of months back from Inflection Point Ventures and existing investors, the startup has raised additional undisclosed amounts from Rockstud Capital, FirstPort Capital, and Bliss Flow Investments Pvt Ltd.

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Johnson & Johnson says committed to bringing its COVID vaccine to India

Global healthcare major Johnson & Johnson on Monday said it remains committed to bringing its single-dose COVID-19 vaccine to India and looks forward to ongoing discussions with the Indian government.

The statement comes after the company withdrew its application to conduct bridging clinical studies of its vaccine in India after the government waived the requirement of such trials for foreign-approved vaccines.

Reliance Foundation to provide 3 lakh free COVID vaccines in Mumbai

In a major outreach scheme to protect vulnerable communities, Reliance Foundation, the philanthropy arm of India’s most valuable company, will partner with Municipal Corporation of Greater Mumbai (MCGM) to provide three lakh COVID-19 vaccine doses to communities across 50 locations in the city.

The free vaccination drive, through Sir HN Reliance Foundation Hospital, aims to protect underprivileged people in neighbourhoods, including Dharavi, Worli, Wadala, Colaba, Pratiksha Nagar, Kamathipura, Mankhurd, Chembur, Govandi and Bhandup, the Foundation said.

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Unemployment rate rose to 13.3 pc in July-Sept 2020: NSO survey

Unemployment rate rose to 13.3 percent in July-September 2020 as compared to 8.4 percent in the year-ago period, according to a periodic labour force survey by the National Statistical Office (NSO).

Joblessness or unemployment rate (UR) is defined as the percentage of unemployed persons in the labour force. The UR was 20.9 percent in April-June 2020, the eighth Periodic Labour Force Survey (PLFS) showed.

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