Everything Apple announced, Funding Deals & more.
Start your day, the smart way!
Top tech news of the day delivered straight to your inbox.
1 Mail | 2 Minutes | 3 Stories | Funding Deals
Let’s get started
Paytm allots ₹100 crores to marketing campaigns during festival season
Digital payments and financial services firm Paytm has earmarked Rs 100 crore for marketing campaigns during the ongoing festive season, which include cashback offers, promotion of UPI, postpaid service of ‘Buy Now, Pay Later’ and wallet businesses.
The company has started ‘Paytm Cashback Dhamaka’ as part of the marketing campaign for users in all districts of India, with a special focus on the states of Gujarat, Maharashtra, Andhra Pradesh, Telangana and Karnataka.
According to the company’s draft red herring prospectus filed for IPO, Paytm has reported the highest gross merchandise value of Rs 4.03 lakh crore in the payments industry.
Facebook plans to hire 10,000 in EU to build ‘metaverse’
Facebook plans to hire 10,000 in the European Union over the next five years to help build the so-called metaverse, the social media giant said.
Metaverse, a term first coined in science fiction, is a combination of the prefix “meta”, meaning beyond, and “universe”. It refers to shared virtual worlds where land, buildings, avatars and even names can be bought and sold, often using cryptocurrency.
This is a significant step in Facebook’s plans to help build the metaverse, in which companies like Roblox Corp and Fortnite maker Epic Games have an early foothold. In September, CEO Mark Zuckerberg said Facebook was committing $50 million to the project.
- SaaS Labs, a provider of business process automation software, announced on Monday that it has raised $17 million in Series A funding from Base 10 Partners and Eight Roads Ventures.
- Duroflex, a Bengaluru-based sleep solutions company, has raised $60 million from Norwest Venture Partners for its Duroflex and Sleepyhead brands.Norwest is a Silicon Valley-based investment group that has made investments in a number of significant tech-first consumer companies such as Swiggy, Pepperfry, Mensa, Vuori, Udemy, Casper, Calm, Uber, and Spotify.
- Aviom India Housing Finance, a fintech startup that provides credit to low-income households, has raised $8 million in a Series C round of funding from Sabre Partners.
PharmEasy closes pre-IPO funding round at $5.6 billion valuation
Online pharmacy PharmEasy has closed a funding round worth nearly $350 million ahead of filing its draft red herring prospectus (DRHP) before an Initial Public Offering (IPO), according to regulatory documents.
PharmEasy’s parent company API Holdings has raised about ₹1,505 crores as fresh issue, while another ₹1000 crore comes from the secondary sale.
PharmEasy’s founders — Dharmil Sheth, Dhaval Shah, Harsh Parekh, Hardik Dedhia, and Siddharth Shah — have also picked up shares worth $40 million in this funding round, as per sources.
According to media reports, PharmEasy plans to raise $1.2 billion in its IPO.
Tweet of the day🐥
⏩ Here’s everything Apple announced at its big October 2021 event.
⏩ Ronaldo teams with Singapore tycoon for secretive soccer startup.
⏩ Tesla’s Elon Musk dials into Volkswagen executive conference.