A look at this week's startup deals: Phonepe, Upgrad, GoMechanic, LoanTap were in news
This week startups like Upgrad raised funding, Wiggles bought Capt Zack, LoanTap acquired Unofin while Phonepe called off a deal with ZestMoney.
Startup space remained action-packed this week with a slew of firms raising funds while a few others starting potential acquisitions and merger talks amid First Citizens' acquisition of Silicon Valley Bank. Meanwhile, Commerce Minister Piyush Goyal announced the new Foreign Trade Policy (FTP) 2023 today focusing on e-commerce exports and doubling the value limit for exports through courier to Rs 10 lakh per consignment.
ZeeBiz.com has curated a list of top deals this week featuring Wiggles, Capt Zack, Phonepe, LoanTap, Unofin, Upgrad, and GoMechanic among others.
Wiggles buys pet supply startup Capt Zack
Wiggles, a pet parenting firm has acquired a similar category startup Capt Zack, according to a press statement. This was a 100 per cent cash and equity deal which will help Wiggles to step into newer categories and markets. The deal value was not disclosed.
Walmart-backed Phonepe cancels deal with BNPL startup ZestMoney
Walmart-owned digital payments app Phonepe has canceled its plan to acquire BNPL (buy now pay later) platform ZestMoney over due diligence concerns.
LoanTap buys healthcare-focused fintech startup Unofin
Pune-based LoanTap Financial Technologies Pvt Ltd has acquired healthcare-focused fintech firm Unofin, the company announced on Wednesday, 29 March. The deal amount remained undisclosed.
Upgrad raises Rs 300 cr in rights issue led by co-founder Ronnie Screwvala
Edtech firm Upgrad has raised Rs 300 crore in a right issue led by co-founder and chairperson of the company Ronnie Screwvala, the start-up said on Wednesday.
Lifelong Group-led consortium acquires car servicing startup GoMechanic
Auto components maker Lifelong Group on Wednesday said it has acquired stressed automobile after-sales service startup GoMechanic for an undisclosed amount. The GoMechanic business has been acquired by the Lifelong Group as the majority shareholder under Servizzy consortium, the Delhi-based firm said in a statement.
Unacademy lays off 12% of workforce in its latest round of job cuts
Edtech major Unacademy has laid off 12 per cent of its workforce or over 350 employees in its latest round of job cuts.
International startup workshop in Kolkata to build entrepreneurial capacities
Twenty people from India and its three neighbouring countries on Thursday joined a three-day workshop in Kolkata to build entrepreneurial capacities.
Five startup owners each from Bangladesh, Bhutan, Nepal and India took part in the programme, Regional Startup Network, organised by the US consulate in Kolkata in collaboration with KIIT Technology Busines Incubator.
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