Startup news and updates: daily roundup (June 11, 2021)

Startup news and updates: daily roundup (June 11, 2021)


Crypto exchange WazirX says in ‘compliance with all applicable laws’ on reports of ED show-cause notice

India’s largest crypto exchange WazirX is in “compliance with all applicable laws” and will “fully cooperate” in any investigation, said Founder Nischal Shetty, in response to reports that the Enforcement Directorate has issued a show-cause notice to the startup for undertaking transactions worth over Rs 2,790 crore in alleged violation of the Foreign Exchange Management Act (FEMA) rules.

Flipkart to provide unlimited medical insurance cover for employees, supply chain staff amidst COVID-19

Ecommerce giant Flipkart has extended unlimited medical insurance cover to its employees amidst the COVID-19 pandemic.

India’s leading ecommerce marketplace has unveiled a slew of measures for its employees, including its supply chain staff across the country, in a blog post.

Flipkart’s unlimited medical insurance scheme will fully cover all medical expenses and cost of hospitalisation without the employees paying any premium for it.

Flipkart

C-CAMP gets CSR support from Huawei India to boost public healthcare infrastructure

Amid the second wave of the pandemic in India, Bengaluru-based Centre for Cellular and Molecular Platforms (C-CAMP) received CSR support from Huawei India for the deployment of C-CAMP’s non-invasive ventilator and remote vitals monitoring machines in public health hospitals and facilities across Karnataka.

According to the official statement, the joint initiative also helped in the deployment of oxygen concentrators.

Flyhomes raises $150M in Series C to strengthen its Indian presence (Funding)

Flyhomes, a US-headquartered end-to-end homebuying platform, on Friday said it raised $150 million in Series C round to fuel its growth and expand its presence in India. 

The round was co-led by venture capital firms Norwest Venture Partners and Battery Ventures, with participation from Fifth Wall, Camber Creek, Balyasny Asset Management, Zillow co-founder Spencer Rascoff, and existing investors Andreessen Horowitz and Canvas Partners.

Flyhomes

Gurugram most suitable city to live in the Covid-era: Square Yards’ Suitability Index report

Gurugram-based integrated real estate startup Square Yards has released a Covid Suitability Index report on Friday.

The East zone in Gurugram, the Western and Central suburbs in Mumbai and Mahadevapura zone in Bengaluru were found to be the most suitable to live from a Covid perspective.

ED issues FEMA notice to India’s largest cryptocurrency exchange — WazirX

The Enforcement Directorate on Friday said it has issued a show-cause notice to the country’s largest cryptocurrency exchange for undertaking transactions worth over Rs 2,790 crore in alleged violation of the Foreign Exchange Management Act (FEMA).



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