02/09/2022
Summary
- Waverly Pte Ltd, a subsidiary of Singapore-based GIC, has led a $50.5 million Series B round in Skyroot Aerospace Pvt. Ltd., a spacetech startup.
- The Simpolo Group, a manufacturer of high-end tiles, has received an investment of $66 million from India Business Excellence Fund – IV and others.
- UniFarm, an all-in-one resource for web3 projects, launched Thunder Farms 1.
Skyroot Aerospace gets $50.5M in Series B round
Waverly Pte Ltd, a subsidiary of Singapore-based GIC, has led a $50.5 million Series B round in Skyroot Aerospace Pvt. Ltd., a spacetech startup.
LNM India Internet Ventures also took part in the round.
The development was first reported by Entrackr, a news portal.
Skyroot is an aerospace firm that was established in 2018 by former Indian Space Research Organization scientists Pawan Kumar Chandana and Naga Bharath Daka.
Simpolo Group receives $66M from Motilal Oswal, others
The Simpolo Group, a manufacturer of high-end tiles, has received an investment of $66 million from Motilal Oswal group-backed funds India Business Excellence Fund – IV, managed and advised by MO Alternate Investment Advisors Private Limited (MOPE), India SME Investments – Fund I, and Motilal Oswal Finvest Ltd.
According to a statement from the Motilal Oswal group, the Simpolo Group consists of the flagship company Simpolo Vitrified Private Limited and Nexion International Private Limited.
“We believe that the luxury and premium tiles segment in India is poised for rapid growth, as the share of high-end tiles will increase from less than 10% today to 30-40% as seen in developed markets. Simpolo and Nexion, with their focus on innovative designs, superior product quality, widespread dealer network, and brand positioning are well placed to capture this growth and become a leading building materials player in India,” said Prakash Bagla, director of MOPE.
Simpolo and Nexion will carry on their respective separate operations in the premium and luxury markets when the deal is complete.
KuCoin becomes first CEX to launch ETH Merge-related events
KuCoin, a leading global cryptocurrency trading platform, has launched a series of ETH Merge-related events, enabling its customers to easily learn more about this important update to Ethereum and discover possible investment opportunities.
With the achievement of this milestone, KuCoin becomes the first CEX to introduce ETH Merge-related events to aid in the expansion of the Ethereum ecosystem. The ongoing ETH Merge Gold Rush and ETH Merge Prophet are two of the events in the series. Additional events are anticipated to be revealed throughout September, Kucoin said in a press note.
KuCoin is a global cryptocurrency exchange that was established in September 2017 and has its operational headquarters in Seychelles. It provides over 700 digital materials as a user-oriented platform with a focus on inclusivity and community action reach. It currently offers its 20 million customers in 207 countries and regions spot trading, margin trading, P2P fiat trading, futures trading, staking, and lending.
NetApp and VMware strengthen global partnership
VMware, Inc. (NYSE: VMW) and NetApp (NASDAQ: NTAP), a global, cloud-led, data-centric software corporation, today announced the expansion of their long-standing global collaboration, according to a press release.
NetApp and VMware are assisting clients in lowering the cost, complexity, and risk associated with transferring and modernizing enterprise-class workloads in multi-cloud settings through new solutions and go-to-market strategies.
Through new connections between VMware and NetApp data management infrastructure, enterprises may also streamline daily operations while accelerating the performance and delivery of both established and novel modern applications.
UniFarm launches Thunder Farms
UniFarm, an all-in-one resource for web3 projects, launched Thunder Farms 1. Over 20 Blockchain projects from three different chains—Ethereum, Binance, and Polygon—have joined with UniFarm.
Thunder Farm will last 60 days and pay out an APY of 60% to 400%. Through the UniFarm DeFi platform at https://app.unifarm.co, the user can invest in either yield farming or liquidity farming. Users can unstake at any time and claim their confirmed benefits in this unlocked pool.
Broker Network gets Rs 90Cr from Info Edge
Rahul Yadav, the creator of Housing.com, secured an additional Rs 90 crore from Info Edge for his proptech business Broker Network. The Mumbai-based business is now 59.8% owned by Info Edge’s subsidiary Allcheckdeals India as a result of the recent investment.
The development was first reported by news portal Entrackr.
The company stated in the application that the additional funds will be used for expansion and growth. Info Edge has now invested a total of Rs 227 crore in Broker Network in 2022 with this injection.
Twitter bans 45,000 Indian accounts
Since the Indian government and Twitter have been engaged in a legal dispute over content for some time, blocking orders have resulted in the banning of some 45,191 Indian accounts in July. The users’ violations of the rules led to the action being taken, according to the microblogging platform’s statement in its recently submitted monthly compliance report.
Twitter has terminated 42,825 accounts for encouraging non-consensual narcissism, child sex exploitation, and associated content in India. A further 2,366 accounts were blocked by the platform for supporting terrorism, as noted in the monthly compliance report in accordance with the new IT Rules, 2021.
Google to accept third party payments on Play Store in India
Google is now including developers in India in its pilot programme for third-party payments in Play Store applications. In March, a small set of developers, including Spotify, in a few countries, were invited to participate in the experiment. The move is now being implemented in six more locations, including India, the company announced today.
With this next phase of Google Play’s user choice billing pilot, all non-gaming developers can offer an additional billing choice alongside Play’s billing system for their users in Australia, Japan, India, Indonesia, and the European Economic Area,” a Google spokesperson said in a statement.
Innovaccer lays off 120 employees
Due to “difficult economic conditions,” healthtech unicorn Innovaccer let off approximately 120 employees or less than 8% of its staff. The majority of the layoffs affected its tech teams.
The company, which most recently received a $150 million Series E round at a $3.2 billion valuation, is providing affected employees with a three-month salary as severance pay.
The development was first reported by Inc42.
Saregama ends music deal with Instagram and Facebook
Indian music label Saregama has terminated its worldwide agreement with Facebook and Instagram parent Meta to have its songs featured in Facebook & Instagram Stories and Instagram Reels, Entrackr reported.
Entrackr was informed by a source that Meta couldn’t agree to Saregama’s conditions for the contract renewal.
While Saregama opted out of this agreement, it joined Google’s YouTube Shorts, a platform akin to Instagram Reels. It made this announcement on Tuesday, which caused its stock price to rise by 5%.