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Udyogpatra 70
Udyogpatra 70
2022
Dear Reader,
Co-ordinator , E-Cell
And
Joint Co-ordinator,E-Cell
E-grocery player Bigbasket has raised $200 million from Founded by Deepika Padukone and Jigar Shah,
parent Tata Digital which owns 64% of the company. This 82°E launched its skincare products Ashwagandha
is Tata Digital's fourth round of funding in Bigbasket. The Bounce moisturiser and Patchouli Glow sunscreen
funding round is expected to value Bigbasket at a valuation drops in November 2022. Deepika Padukone’s self-
of $3-3.5 billion post-money, according to a report by the care brand 82°E has raised $7.5 million in seed
Economic Times. The company was valued at $2.7 billion in funding led by DSG Consumer Partners and IDEO
a secondary share sale in March this year. Bigbasket will Ventures. The round also saw participation from
use the fresh capital to expand the quick commerce angel investors. The company will utilise the newly-
vertical BB Now and use it as an expansion tool for core raised capital to grow its team, scale research and
Bigbasket users as opposed to converting existing users to development, and launch new products, it said in a
try the 30-minute delivery service, per the report. statement.
ISSUE 70 PERFORM YOUR TASK WHILE USING YOUR MASK 28th December, 2022
2022
PhysicsWallah forays into upskilling with iNeuron Ola Electric to launch commercial vehicles
acquisition soon
Edtech startup PhysicsWallah is set to acquire iNeuron.ai, Electric vehicle (EV) maker Ola Electric will also
marking its entry into the upskilling market that also manufacture commercial vehicles along with two-
includes fellow unicorns UpGrad, Emeritus and Byju’s wheelers and cars, co-founder Bhavish Aggarwal
(Great Learning).The startup, valued at $1.1 billion, will said. The company will soon start generating profits
acquire a portion of iNeuron.ai from NSE-listed publishing from its two-wheeler business and it will re-invest
and education services firm S Chand and Company for about the profits into these newer products. The
Rs 14 crore ($1.7 million). The Mukesh Sharma Family company, he added, is the most capital efficient
Trust, a co-investor, will also exit iNeuron.The acquisition among competitors, especially because it does not
is a mix of cash and stock, a PhysicsWallah spokesperson run on a dealership model. On plans to make its own
told ET, adding that the company has also acquired a stake battery cells, Aggarwal said that the company was
in S Chand and Co.The deal value was not disclosed. iNeuron on track to achieving its goal of starting
offers 605 courses across about 12 verticals such as manufacturing by the end of 2023. He said that Ola
business management, finance, data science, web Electric is currently the largest consumer of
development, digital marketing.A job guarantee feature lithium-ion battery cells in the country and that
included in some of iNeuron’s business will be removed with there would be huge in-house demand, and once this
PhysicsWallah’s partnership. PhysicsWallah’s employee is met, the company may explore selling its cells to
strength will increase from 5,200 to 5,300 with the other Original Equipment Manufacturers
acquisition, Pandey told ET. iNeuron will benefit from
Edtech startup upGrad has invested in for
PhysicsWallah’s existing user base of about 400,000
strengthen product vertical TuringMinds.
engineering students, Pandey said, adding that iNeuron has
10,000-15,000 unique learners in total.
Fintech Zype raises ₹146 crore
Fintech startup Zype on Wednesday said it has raised ₹146 TuringMinds was set up to cater to the increasing
crore in a funding round led by city-based private equity traction from enterprises for outsourced
fund Xponentia Capital. Zype, which is focused on upping research and product development, leveraging
credit accessibility to millennials and help them develop this one-of-its-kind scholar pool. It operates over
sustainable financial habits, will deploy the funds for the 15+ offline facilities in the US, India, Europe, UK,
technology platform, expanding team and customer and the Middle East. Further, its offices in
acquisition, as per a statement. Its Founder and Chief Hyderabad, Bengaluru, and Detroit operate with
Executive Yogi Sadana said the company intends to offer a professional workforce of 250 product
credit products and interactive money management tools to engineers and aims to double this in the next
its target segment. quarter, the company said in a statement .
ISSUE 70 PERFORM YOUR TASK WHILE USING YOUR MASK 28th December, 2022
2022
Foodtech firm SaveEat raises $500,000 in funding Wadhwani AI gets $1 million grant from
to expand business Google.org to build AI solutions in agriculture
- By Pravanjan Mukherjee
E – cell Quiz
winners
1. Deepak Kumar
1. RAHUL SHAW
2. Ritesh Agarwal
2. SUDESHNA CHOWDHURY
3. Prasanjit Gorai
3. PAYALI ROY
TEAM UDDYOMI
CONTACT ADDRESS –
E-mail - ecell@calcuttabusinessschool.org
7301671834