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<ul><li>The B2B e-commerce platform has raised $250 million in a series F round of funding led by <keyword id="526777" type="General" weightage="20" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>, Alpha Wave Global and <keyword id="4786885" type="General" weightage="20" keywordseo="ward-ferry" source="Orion">Ward Ferry</keyword>.</li><li>The e-commerce platform is now valued at $2.6 billion after the latest funding round.</li><li>Overall, the company has raised over $650 million to date.</li></ul><keyword id="3119222" type="General" weightage="20" keywordseo="Moglix" source="Orion">Moglix</keyword>, a Noida-based business to business (B2B) e-commerce platform, has raised $250 million in a new round of funding led by Tiger Global, Alpha Wave Global with Hong Kong-based Ward Ferry coming onboard as a new investor. The e-commerce platform is now valued at $2.6 billion after the latest funding round. The company also claims that undisclosed seed investors have seen a return of 80 times on their investment in this B2B commerce player. Notably, the company had raised its seed round in 2015-2016 from investment firm Accel, industrialist <keyword id="6360722" type="General" weightage="20" keywordseo="ratan-tata" source="Orion">Ratan Tata</keyword> and others. Overall, the company has raised over $650 million to date. It is also backed by various other marquee global investors such as Sequoia, Accel Partners, International Finance Corporation, Harvard Management Company, and others. Rahul Garg, founder and chief executive officer (CEO) said, “We will continue to invest in building technology and supply chain capabilities to enable growth of the manufacturing and infrastructure sector. Moglix will increasingly focus on growth driven by supply chain financing, acquisition of the right partners and global expansion.” In May 2021, the company also became the first B2B commerce unicorn in the manufacturing sector after raising $120 million. A unicorn, in startup parlance, is a private company that is valued at or over $1 billion. Moglix, founded by Indian Institutes of Technology (IIT) Kanpur and Indian School of Business (ISB) graduate Rahul Garg in 2015, is an e-commerce platform, which provides solutions to more than 500,000 small and medium enterprises (SMEs) and over 1000 large manufacturers across India and the UAE. It has a supply chain network of over 16,000 suppliers and over 40 warehouses. The company, which also recently crossed $100 million disbursal rate on its supply chain financing platform Credlix, works with manufacturing and infrastructure companies to transform their end-to-end supply chain, from procurement to distribution. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/budget/news/budget-2022-indian-government-can-help-zomato-swiggy-uber-and-ola-can-increase-salary-of-delivery-partners-and-drivers/articleshow/89180404.cms">There’s a way government can prod Zomato, Swiggy, Uber and Ola to increase salaries of delivery partners and drivers</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/science/health/news/reports-of-covid-19-variant-neocov-are-spreading-heres-what-we-know-so-far/articleshow/89180852.cms">Reports of COVID-19 variant ‘NeoCov’ are spreading – Here’s what we know so far</a>

Moglix more than doubles its valuation in nine months

<ul><li>Tiger Global has invested in three B2B ecommerce platforms <keyword id="8032183" type="General" weightage="20" keywordseo="infra-market" source="Orion">Infra.Market</keyword>, <keyword id="3119222" type="General" weightage="20" keywordseo="moglix" source="Orion">Moglix</keyword> and <keyword id="3259676" type="General" weightage="20" keywordseo="Ofbusiness" source="Orion">OfBusiness</keyword> this year.</li><li>The three players compete with each other in this sub segment of B2B, but the intricacies of their businesses are quite different.</li><li>OfBusiness is a tech-enabled platform that enables small and medium enterprises (SMEs) with procurement of raw materials and credits.</li></ul>OfBusiness, which allows businesses to purchase bulk orders from sellers online, has doubled its valuation to $3 billion in a $207 million fresh funding round led by Tiger Global. The company was valued at $1.5 billion in July, when it raised $160 million from SoftBank, Falcon Edge and Matrix Partners. Softbank, along with Falcon Edge-managed Alpha Wave Incubation, also participated in the latest round with an infusion of $43 million. New York-based Tiger Global — which is also an investor in other business-to-business (B2B) marketplaces Infra.Market and Moglix — has infused $150 million in the New Delhi-based startup. It is likely to infuse another $15-20 million in the coming round. This is the third major funding round closed by OfBusiness this year. In April this year, the company <a href="https://www.businessinsider.in/business/startups/news/sme-financing-platform-ofbusiness-raises-110-million-from-falcon-edge-capital-valuation-hits-800-million/articleshow/81962626.cms">had raised $110 million</a> led by Falcon Edge Capital at a valuation of $800 million. Interestingly, this is also the third unicorn investment made by Tiger Global in the B2B ecommerce space. Infra.Market, Moglix and OfBusiness are competitors in this sub segment of B2B, but the intricacies of their businesses are quite different. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Focus area </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Valuation </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infra.Market </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Construction material </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.5 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">OfBusiness </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing and infrastructure development material </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$3 billion </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Moglix </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Industrial and home products </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$1.33 billion </td></tr></tbody><tbody></tbody></table> The nearly $3 billion worth <keyword id="6357316" type="General" weightage="20" keywordseo="udaan" source="Orion">Udaan</keyword>, too, is a <a href="https://www.businessinsider.in/business/startups/news/udaan-fires-half-its-contract-employees/articleshow/75357229.cms">prominent player </a>in the B2B ecommerce space. It helps small businesses to procure products — across categories like electronics, home and kitchen, staples, fruit and vegetables, and more — at lower prices. <keyword id="7466761" type="General" weightage="20" keywordseo="zetwerk" source="Orion">Zetwerk</keyword> — valued at $1.33 billion — entered the unicorn club this year, when it raised $150 million in a round led by D1 Capital. It focuses on online sale of manufacturing material. What is OfBusiness up to? Founded by Asish Mohapatra, Bhuvan Gupta, Vasant Sridhar, Ruchi Kalra and Nitin Jain in 2015, the New Delhi-based startup is a tech-enabled platform that enables small and medium enterprises (SMEs) with procurement of raw materials and credits. It has a separate entity, NBFC Oxyzo Financial Services, to offer financing solutions to SMEs. This entity has a loan book of $240 million, with 5,000 borrowers to the list. The company claims to be at an annual revenue run-rate of $1.4 billion. It further plans to increase this with expansion of its operations and acquisition of other businesses, Mohapatra <a href="https://economictimes.indiatimes.com/tech/funding/ofbusiness-valuation-doubles-to-3-billion-after-tiger-global-led-funding/articleshow/86645251.cms">told</a> The Economic Times. It claims to be underway to close several such acquisitions. The company competes with platforms like Moglix, Infra.Market, Zetwerks and others on the B2B ecommerce business fronts. In SME lending, it is competing with other platforms like BharatPe, LendingKart, Aye Finance and many others. OfBusiness, along with its B2B ecommerce rivals mentioned above, are among the 28 startups that entered the unicorn club this year, with a valuation of over $1 billion. SEE ALSO <a href="https://www.businessinsider.in/stock-market/news/paras-defence-maruti-suzuki-airtel-vodafone-idea-and-other-top-stocks-to-watch-out-for-on-october-1/slidelist/86670108.cms" data-type="tilCustomLink">Paras Defence, Maruti Suzuki, Airtel, Vodafone Idea and other top stocks to watch out for on October 1</a> <a href="https://www.businessinsider.in/stock-market/news/paras-defence-space-tech-ipo-continues-to-demand-a-premium-of-200-in-grey-market/articleshow/86663834.cms" data-type="tilCustomLink">Paras Defence &amp; Space Tech IPO continues to demand a premium of ₹200 in grey market</a> <a href="https://www.businessinsider.in/business/startups/news/ola-electric-raises-200-million-from-softbank-falcon-edge-at-valuation-of-3-billion/articleshow/86649236.cms">4-year old Ola Electric is now worth over a half of its older sibling Ola</a>

Tiger Global is now an investor in three of the five B2B ecommerce unicorns in India

If you were thinking that tech majors in India are only investing money in start-ups belonging to their industry, you might be in for a shock, since corporates are also sharing their technical expertise and network with start-ups so that they can reach new heights. This is, of course, being done for mutual benefits of both the majors and the start-ups. 
 
While the start-ups get the technical expertise and network, the corporates, in turn, get innovative techniques and new ideas. 
 In recent weeks, a number of tech giants, viz. SAP Labs, Autodesk, Cisco and Amazon Web Services, announced their engagements and associations with <keyword id="770060" type="UNKNOWN" weightage="100" keywordseo="Indian-start-ups">Indian start-ups</keyword>. 
 
The global companies operating in the country are looking for start-ups that can align with their business strategy for India, which includes developing new solutions to finding new markets for the existing techniques. 
 
Even though being a part of a full-time corporate programme is no less than a risk for a growth-stage company, the benefits definitely outnumber the concerns about its growth. 
 
"The benefits of association with SAP will work both ways - in terms of educating our customer base the benefits of the SAP gateway solutions as well as using SAP's network of companies to scale the base for Moglix," Rahul Garg, founder of B2B ecommerce start-up Moglix, told <a href="http://economictimes.indiatimes.com/small-biz/startups/tech-majors-like-sap-labs-autodesk-and-cisco-engage-with-the-vibrant-indian-startup-ecosystem/articleshow/53088972.cms">ET</a>. Moglix is a part of the 12-month long SAP Startup Studio programme. 
 
<a href="https://www.taxprofessionals.com/uploads/news-pictures/430-henderson-blog-post-image-20150531162419.jpg">Image source</a>

Indian tech majors are bringing in their expertise to Indian start-ups for mutual benefits

<keyword id="117316" type="PERSON" weightage="20" keywordseo="Padma-Shri-awardee">Padma Shri awardee</keyword> and eminent cardiologist Dr <keyword id="2731758" type="PERSON" weightage="20" keywordseo="KK-Aggarwal">KK Aggarwal</keyword> has died of <keyword id="8763838" type="UNKNOWN" weightage="20" keywordseo="covid-19">COVID-19</keyword>, a statement posted on his Twitter handle said. Aggarwal (62), who was the former national president of the <keyword id="6365835" type="COMPANY" weightage="20" keywordseo="indian-medical-association">Indian Medical Association</keyword> (<keyword id="8507" type="COMPANY" weightage="20" keywordseo="IMA">IMA</keyword>), was admitted to the <keyword id="40458" type="COMPANY" weightage="20" keywordseo="AIIMS">AIIMS</keyword> here and was on ventilator support since last week. According to the statement, he passed away at 11.30 pm on Monday after a "lengthy battle with COVID-19". "Even during the pandemic, he made constant efforts to educate the masses and was able to reach out to 100 million people through numerous videos and educational programmes and saved countless lives. He wanted his life to be celebrated and not mourned," the statement said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-moglix-is-the-13th-unicorn-from-india-this-year/articleshow/82702143.cms">Ratan Tata-backed Moglix is the 13th unicorn from India this year</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-hints-that-tesla-may-dump-its-billion-dollar-bitcoin-investment/articleshow/82699553.cms">Elon Musk hints that Tesla may dump its billion dollar Bitcoin investment — here’s why his tweets have so much power</a> <a href="https://www.businessinsider.in/science/health/news/how-to-use-oxygen-concentrator-at-home/articleshow/82705333.cms">COVID-19: Here’s a step-by-step guide on how to use an oxygen concentrator at home</a>

Eminent cardiologist Dr. KK Aggarwal succumbs to COVID-19

The shareholders of <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Infrastructure Limited (Reliance Infra), through postal ballot, have approved with overwhelming majority, the raising of funds upto ₹550.56 crore by preferential allotment of upto 8.88 crore equity shares and/or warrants convertible into equivalent number of equity shares of the Company to promoters and <keyword id="11588068" type="UNKNOWN" weightage="20" keywordseo="vfsi-holdings-pte">VFSI Holdings Pte</keyword>. Limited, an affiliate of <keyword id="11588067" type="UNKNOWN" weightage="20" keywordseo="varde-investment-partners">Varde Investment Partners</keyword>, LP. The shareholders of Reliance Infra have also approved with overwhelming majority, the raising of funds by issue of Foreign Currency Convertible Bonds (FCCB) up to 24 per cent of the than fully diluted equity share capital of the Company. The funds raised would be utilised for long term resources, for general corporate purposes and to fund future growth. Reliance Infrastructure Limited (RInfra) is one of the largest infrastructure companies, developing projects through various <keyword id="732527" type="ORGANIZATION" weightage="20" keywordseo="Special-Purpose-Vehicles">Special Purpose Vehicles</keyword> (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector. RInfra is a major player in providing Engineering and Construction (E&amp;C) services for developing power, infrastructure, metro and road projects. RInfra through its SPVs has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on build, own, operate and transfer (BOOT) basis; nine road projects on build, operate and transfer (BOT) basis. RInfra is also a leading utility company having presence in <keyword id="532777" type="PERSON" weightage="20" keywordseo="power-distribution-business">Power Distribution Business</keyword> in Delhi. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/tiger-global-backed-moglix-acquires-b2b-e-commerce-platform-vedaxo/articleshow/84198960.cms">Tiger Global-backed Moglix acquires Vendaxo, a startup that sells used machinery to companies</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/titans-revenue-in-the-june-2021-quarter-doubled-from-a-year-ago/articleshow/84198618.cms">Titan's revenue in June 2021 quarter doubled from a year ago when business was under complete lockdown for most part</a>

Anil Ambani's Reliance Infra, the company behind Mumbai Metro, to raise ₹550 crore for future growth

The <keyword id="6355100" type="COMPANY" weightage="20" keywordseo="Indian-Navy">Indian Navy</keyword> has rescued 146 people on board a barge that went adrift in the Arabia Sea near Mumbai hours before <keyword id="11237626" type="PERSON" weightage="20" keywordseo="cyclone-tauktae">Cyclone Tauktae</keyword> made landfall on the Gujarat coast, an official said on Tuesday. The <keyword id="42407" type="COMPANY" weightage="20" keywordseo="Navy">Navy</keyword> on Tuesday morning also deployed the <keyword id="692931" type="COMPANY" weightage="20" keywordseo="P-8I">P-8I</keyword> long-range, multimission maritime patrol aircraft to join the search and rescue operations, the official said. "The Search and Rescue (<keyword id="173697" type="COMPANY" weightage="20" keywordseo="SAR">SAR</keyword>) operations continued throughout the night and a total of 146 persons from Barge P305 have been rescued till 6 am on Tuesday, 111 by INS Kochi and INS Kolkata, 17 by Offshore Support Vessel (OSV) Greatship Ahilya and 18 by OSV Ocean Energy whilst operating in extremely challenging sea conditions," the official said. The barge 'Gal Constructor' with 137 persons on board has run aground about 48 nautical miles north of Colaba Point. An Emergency Towing Vessel 'Water Lily', two support vessels and CGS Samrat are in the vicinity for rendering assistance and evacuation of crew, a Navy spokesperson said. "INS Talwar is proceeding to assist another oil rig Sagar Bhushan with 101 personnel on board and an accommodation barge SS-3 with 196 personnel on board, both of which are adrift and presently located about 50 NM South East of Pipavav Port," the spokesperson said in a statement. "These ongoing rescue efforts have been augmented today morning by an Indian Naval P8I surveillance aircraft. Navy helicopters will also be deployed for SAR based on weather conditions. The SAR efforts will continue through the day with more naval assets ready to augment the ongoing operations," he said. The Navy had on Monday deployed three frontline warships after receiving messages to rescue 410 people on board two barges off the Mumbai coast. The ships deployed to extend assistance to the two barges were INS Kolkata, INS Kochi and INS Talwar. "On receipt of a request for assistance for barge 'P305' adrift off Heera oil fields in Bombay high area with 273 personnel onboard, INS Kochi was swiftly sailed on Monday with a despatch for search and rescue assistance," the Navy officer said. The oil fields are around 70 km southwest of Mumbai. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-moglix-is-the-13th-unicorn-from-india-this-year/articleshow/82702143.cms">Ratan Tata-backed Moglix is the 13th unicorn from India this year</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-hints-that-tesla-may-dump-its-billion-dollar-bitcoin-investment/articleshow/82699553.cms">Elon Musk hints that Tesla may dump its billion dollar Bitcoin investment — here’s why his tweets have so much power</a> <a href="https://www.businessinsider.in/science/health/news/how-to-use-oxygen-concentrator-at-home/articleshow/82705333.cms">COVID-19: Here’s a step-by-step guide on how to use an oxygen concentrator at home</a>

Indian Navy rescues 146 people on board from a barge which went adrift off Heera oil fields

Merchant commerce platform <keyword id="1552189" type="COMPANY" weightage="20" keywordseo="Pine-Labs">Pine Labs</keyword> on Monday said it has completed a new round of financing from investors including Baron Capital Group, Duro Capital, <keyword id="4699572" type="COMPANY" weightage="20" keywordseo="marshall-wace">Marshall Wace</keyword>, Moore Strategic Ventures, and <keyword id="252562" type="COMPANY" weightage="20" keywordseo="Ward-Ferry-Management">Ward Ferry Management</keyword>. Existing investors Temasek, Lone Pine Capital, and Sunley House Capital also participated in this <keyword id="6357455" type="UNKNOWN" weightage="20" keywordseo="Funding">funding</keyword> round, a statement said. "We raised USD 285 million. We want to thank Puri Kaaynath for supporting and backing us. Our teams, families, customers, and investors," Pine Labs CEO B Amrish Rau said in a LinkedIn post. This translates to about ₹2089 crore. In December last year, Pine Labs had announced raising funding from Lone Pine Capital, valuing it at over USD 2 billion (about ₹14,700 crore). In January 2020, <keyword id="6368201" type="COMPANY" weightage="20" keywordseo="mastercard">Mastercard</keyword> had invested in the company, placing the <keyword id="2461546" type="COMPANY" weightage="20" keywordseo="FinTech">fintech</keyword> firm in the <keyword id="3009432" type="COMPANY" weightage="20" keywordseo="unicorn-club">unicorn club</keyword> (companies with a valuation of USD 1 billion). Incorporated in Singapore, Pine Labs' key investors include Sequoia India, Actis Capital, Temasek, PayPal, and Mastercard. "In this significantly oversubscribed round, in addition to primary proceeds, Pine Labs enabled secondary transactions for its founder, employees, and early shareholders as it is already a well-financed company with a strong balance sheet and has been EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) profitable for several years," a statement said. Pine Labs currently serves more than 1.5 lakh merchants across Asia and the Middle East. Its payment acceptance and merchant commerce solutions including enterprise automation systems such as inventory management and customer relationship management. Its stored value platform includes issuing, processing, and distributing digital gift cards for corporate customers around the world. Pine Labs had recently launched its popular Buy Now, Pay Later proposition in Malaysia and plans to take its integrated Pay Later installment solution to newer markets in Southeast Asia. Last month, Pine Labs had also announced the acquisition of Fave, a Southeast Asian consumer fintech platform. "This is an exciting phase in our journey as we enter newer markets. We excel in enterprise merchant payments and now want to scale new frontiers in the online space as well, at the same time continue to power the credit and commerce needs of our offline merchant partners," Rau said in a statement. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-pre-registrations-to-begin-on-may-18/articleshow/82702403.cms">PUBG Mobile: Battlegrounds Mobile India pre-registrations to begin on May 18 – rewards, maps and more</a> <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-moglix-is-the-13th-unicorn-from-india-this-year/articleshow/82702143.cms">Ratan Tata-backed Moglix is the 13th unicorn from India this year</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-hints-that-tesla-may-dump-its-billion-dollar-bitcoin-investment/articleshow/82699553.cms">Elon Musk hints that Tesla may dump its billion dollar Bitcoin investment — here’s why his tweets have so much power</a>

Sequoia and PayPal-backed Pine Labs completes a first close of $285 million funding round from new investors

<ul><li><keyword id="2811049" type="PERSON" weightage="20" keywordseo="UrbanClap">UrbanClap</keyword> has reportedly raised ₹1.6 crore from <keyword id="6379357" type="PERSON" weightage="20" keywordseo="kalyan-krishnamurthy">Kalyan Krishnamurthy</keyword>. </li><li>This is Kalyan’s second personal <keyword id="6355120" type="UNKNOWN" weightage="20" keywordseo="investment">investment</keyword>, while the first one was B2B <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> Moglix. </li><li>The home services startup includes Ratan Tata, SAIF Partners, Accel Partners among others in its list of existing investors. </li></ul>Gurgaon-based home services startup UrbanClap has raised ₹1.6 crore from <keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> CEO Kalyan Krishnamurthy, according to <a href="https://www.business-standard.com/article/companies/after-moglix-flipkart-ceo-kalyan-krishnamurthy-bets-big-on-urbanclap-119040900054_1.html">paper.vc,</a> a business intelligence firm. The Gurgaon-based home services startup UrbanClap has a list of existing marquee investors like SAIF Partners, Ratan Tata, Accel Partners and Bessemer Venture Partners. Prior to this investment, the startup had raised funding of $50 million in a Series D round from Steadview Capital Management and existing investor Vy Capital in November 2018. UrbanClap had also recently <a href="https://bestmediainfo.com/2019/03/urbanclap-unveils-new-campaign-with-ayushmann-khurrana-as-brand-ambassador/">announced</a> that Bollywood star Ayushmann Khurrana is its brand ambassador. The startup, which was founded in 2014, offers services at home for its customers. In almost five years in the business, the startup has garnered more than 35,000 trusted and verified professionals on the platform that serve more than 500,000 customers each month, across 10 cities in India (including Ahmedabad, Bengaluru, Chandigarh, Chennai, Delhi NCR, Hyderabad, Jaipur, Kolkata, Mumbai, Pune). The startup also made its international debut by expanding its offerings into Dubai. Meanwhile, Flipkart CEO Kalyan Krishnamurthy has been upping his investment game. He made his first solo investment in the B2B startup Moglix. The investment amount remains undisclosed. Kalyan during his earlier stint as Managing Director at investment firm Tiger Global had made investments in Nestaway, Curefit etc. See Also: <a href="https://www.businessinsider.in/here-are-the-25-most-popular-workplaces-in-india-according-to-linkedin/articleshow/68704338.cms">Here are the 25 most popular workplaces in India, according to LinkedIn</a> <a href="https://www.businessinsider.in/large-ticket-deals-drive-rise-in-private-equity-investments-in-india-this-year/articleshow/68296615.cms">Large ticket deals drive rise in private equity investments in India this year</a>

Flipkart CEO Kalyan Krishnamurthy places his bets on home services startup UrbanClap

<keyword id="1518229" type="PERSON" weightage="20" keywordseo="Lenskart">Lenskart</keyword> on Monday said global investment firm <keyword id="6354544" type="COMPANY" weightage="20" keywordseo="kkr">KKR</keyword> will invest <keyword id="54123" type="COMPANY" weightage="20" keywordseo="USD">USD</keyword> 95 million (about Rs 695.8 crore) in the omni-channel eyewear retailer via a secondary stake acquisition. As part of the transaction, existing <keyword id="6359051" type="UNKNOWN" weightage="20" keywordseo="investors">investors</keyword> - TPG Growth and TR Capital - will each divest a portion of their holding in Lenskart, a statement said. These entities had invested in Lenskart in late 2014. Upon the completion of the transaction, KKR will look to leverage its experience working with leading technology and eyewear companies globally to support Lenskart in expanding its presence in India, scaling its growing operations overseas, and enhancing its digital offerings to augment customers' virtual and omni-store experience, the statement said. According to reports, KKR's investment is part of a larger USD 300-million round. However, the companies did not comment on the report and if other investors have participated in the round. KKR said it is making its investment from its Asian private equity fund. Some of the recent technology-focused investments for KKR in Asia include Adopt A Cow (a digitalised, direct-to-consumer dairy company in China), NetStars (the operator of Japan's largest QR code payment gateway), and Walnut Programming (a children's programming education company in China). In 2019, Lenskart had announced raising over USD 275 million (nearly ₹1,956 crore) from Softbank Vision Fund. In the past, it has received funding from investors' like Ratan Tata, PremjiInvest, <keyword id="85860" type="COMPANY" weightage="20" keywordseo="IFC">IFC</keyword> (venture capital arm of the <keyword id="6354424" type="COMPANY" weightage="20" keywordseo="world-bank">World Bank</keyword>), TPG Growth, IDG Ventures, Unilazer Ventures and Adveq. Established in 2010, Lenskart currently serves over 7 million customers annually through its omni-channel presence that spans online, mobile application, and 730 stores in 175 cities across the country. In 2019, Lenskart had also expanded to Singapore, marking its foray into Southeast Asia. Lenskart integrates technology into all aspects of its operations, to the browsing, shopping and purchasing experience, in addition to manufacturing and supply-chain optimisation. Among Lenskart's digital offerings is a virtual 3D try-on tool; AI-powered facial mapping and frame recommendation features; smart physical stores with seamless omni-channel experience; and footfall tracking beacons, heat maps and demographic analytics; and intelligent supply-chain and inventory-management solutions. More than 600 million people in India and 4.5 billion people globally need vision correction, but only a fraction of them use it due to a lack of access, awareness, and high-quality, affordable solutions, Lenskart CEO Peyush Bansal said. Lenskart was founded to address this gap by leveraging technology to make eyewear accessible to everyone - first in India, and now worldwide, he added. "In the next five years, we aspire to have 50 per cent of India wearing our specs... We are thrilled to welcome KKR as an investor given their significant experience working with leading global eyewear retailers such as National Vision and 1-800 Contacts as well as technology-focused businesses globally," he said. KKR Partner Gaurav Trehan said as a technology-driven business, Lenskart is a strong, homegrown disruptor in India's rapidly expanding eyewear industry. "We are truly excited to work with Peyush and Lenskart's impressive management team to support Lenskart's growth and innovation in India and internationally, in addition to advancing its mission to provide affordable, accessible eyewear products for everyone," he added. Avendus Capital advised Lenskart on the transaction. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-pre-registrations-to-begin-on-may-18/articleshow/82702403.cms">PUBG Mobile: Battlegrounds Mobile India pre-registrations to begin on May 18 – rewards, maps and more</a> <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-moglix-is-the-13th-unicorn-from-india-this-year/articleshow/82702143.cms">Ratan Tata-backed Moglix is the 13th unicorn from India this year</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-hints-that-tesla-may-dump-its-billion-dollar-bitcoin-investment/articleshow/82699553.cms">Elon Musk hints that Tesla may dump its billion dollar Bitcoin investment — here’s why his tweets have so much power</a>

Lenskart gets funding of $95 million from global investment firm KKR

The United States will share 20 million more COVID-19 vaccine doses with <keyword id="2386915" type="PERSON" weightage="20" keywordseo="other-countries">other countries</keyword>, taking the total number of such shots to 80 million, President <keyword id="99719" type="PERSON" weightage="20" keywordseo="Joe-Biden">Joe Biden</keyword> said on Monday. "Over the next six weeks, the United States of America will send 80 million doses overseas. That represents 13 per cent of the <keyword id="79555" type="TECHNOLOGY" weightage="20" keywordseo="Vaccines">vaccines</keyword> produced by the US by the end of June. This will be more vaccine doses than any country has actually shared to date, five times more than any other country. More than Russia and China, which have donated 15 million doses," Biden told reporters at a news conference here. "There's a lot of talk about Russia and China influencing the world with vaccines. We want to lead the world with this demonstration of our innovation, ingenuity, and the fundamental decency of the American people. Just as in World War II, America was the arsenal of democracy, in the battle against the COVID-19 pandemic, our nation is going to be the arsenal of vaccines for the rest of the world. We'll share these vaccines in the service of ending the pandemic everywhere," he said. "We will not use our vaccines to secure favours from other countries," Biden said as he announced that in addition to the 60 million <keyword id="6409874" type="COMPANY" weightage="20" keywordseo="astrazeneca">AstraZeneca</keyword> vaccines, the US will give another 20 million COVID-19 approved vaccines. "In March, we shared over four million doses of our AstraZeneca vaccine with Canada and Mexico. At the end of April, we announced that we would provide another 60 million doses of our AstraZeneca vaccine overseas," he said. AstraZeneca vaccine has not been authorized for use in the US yet, and it is awaiting safely clearance by the <keyword id="6356255" type="COMPANY" weightage="20" keywordseo="us-food-and-drug-administration">US Food and Drug Administration</keyword>. "And today, I'm announcing that we'll also share US-authorized vaccines doses of Pfizer and Moderna and <keyword id="92247" type="COMPANY" weightage="20" keywordseo="Johnson-Johnson">Johnson &amp; Johnson</keyword>, as they become available, with the rest of the world as well. These are vaccines that are authorized to be put in the arms of Americans," he said. "And by the end of June, when we'll have taken delivery of enough of such vaccines to protect everyone in the United States. The US will share at least 20 million doses of those doses -- that extra supply -- with other countries," Biden said. Biden's announcement was welcomed by US lawmakers and Indian-American community leaders. "While I'm glad to see the <keyword id="6356037" type="COMPANY" weightage="20" keywordseo="white-house">White House</keyword> committing to sharing an additional 20 million COVID-19 vaccine doses with the world by the end of next month, this is only one step of the many more we need to take to reduce the threat of new mutant strains emerging from outbreaks abroad and causing another deadly surge here at home," said Indian-American Congressman Raja Krishnamoorthi. "The outbreaks we're seeing in India and many other nations are a tragedy for all those facing them, and they're a threat to those in other countries who've already been vaccinated because of the risk they pose of producing vaccine-resistant mutations," he said. "We need to further expand our support to the nations battling these outbreaks in order to save the millions of lives in danger today, and the millions more across the world, and in the United States, who could be endangered by new forms of the virus if these surges are allowed to fester," Krishnamoorthi said. White House Press Secretary Jen Psaki told reporters that a decision on which countries would receive these vaccine doses would be taken in due course. Indian-American community leader Ajay Bhutoria also welcomed Biden's announcement. "The President is restoring America's leadership in the world by stepping by being a Leader in fight against COVID-19 and sharing vaccine doses with people around the world," he said. In a statement, he urged the President that the vaccines be sent to India, Nepal, Bangladesh, Brazil and other countries heavily impacted by the pandemic. SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-pre-registrations-to-begin-on-may-18/articleshow/82702403.cms">PUBG Mobile: Battlegrounds Mobile India pre-registrations to begin on May 18 – rewards, maps and more</a> <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-moglix-is-the-13th-unicorn-from-india-this-year/articleshow/82702143.cms">Ratan Tata-backed Moglix is the 13th unicorn from India this year</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-hints-that-tesla-may-dump-its-billion-dollar-bitcoin-investment/articleshow/82699553.cms">Elon Musk hints that Tesla may dump its billion dollar Bitcoin investment — here’s why his tweets have so much power</a>

United States to share 80 million COVID-19 vaccines with other countries, five times more than any other country shared till date

(Disclaimer: This should not be considered medical advice. Please check with medical practitioners on exact procedures.) <ul><li>Oxygen concentrators are the best alternative solution when there is an acute shortage of oxygen cylinders.</li><li>The role of oxygen cylinders or oxygen concentrators is to fulfill the oxygen needs of patients who aren’t able to get the desired amount on their own.</li><li>Here is a step-by-step guide on how to setup an <keyword id="6325969" type="General" weightage="20" keywordseo="oxygen-concentrator" source="Orion">oxygen concentrator</keyword> at home.</li></ul>As the second wave of COVID-19 pandemic wreaks havoc in the country, one of the most pressing concerns has been the shortage of oxygen supply to treat COVID positive patients. There is a high demand for oxygen cylinders and concentrators to critically save lives of people. Oxygen concentrators are the best alternative solution when there is an acute shortage of oxygen cylinders. People who are in dire need of oxygen can set up an oxygen concentrator at home without any hassle. It doesn’t need to be refilled or replaced. However, one should use it only if a doctor prescribes it to you. How does an Oxygen concentrator work? The role of oxygen cylinders or oxygen concentrators is to fulfill the oxygen needs of patients who aren’t able to get the desired amount on their own. Oxygen concentrators work the same way as oxygen cylinders. It is also a medical device to pump up the oxygen from ambient air. Oxygen concentrators suck air from the environment and remove the unwanted gases like nitrogen, concentrate oxygen and pump it through the pipe of patients, so that they can breathe pure oxygen. Concentrators can supply at least 5-10 litres of oxygen per day. Using oxygen concentrators has some advantages -- they are portable and have a continuous power source; they can work 24x7 and don't need to be replaced or refilled. Here is a step-by-step guide on how to setup an oxygen concentrator at home -- <ol><li>Oxygen concentrators should be placed at least 1-2 feet away from a wall because it needs enough space to circulate the air and tends to get hot upon continuous use.</li><li>Join the humidification bottle if your doctor has prescribed it to you. A humidification bottle is prescribed if the oxygen flow rate is greater than 2-3 litres per minute.</li><li>Connect the oxygen tubing to the humidification bottle or an adaptor. If you’re using a humidification bottle, insert your oxygen tubing into the port on the bottle or if you’re using an oxygen adaptor, attach the tubing to it in the same way. Use distilled water or filtered water only in the humidification bottle. Distilled water is the water which has been through the process of distillation i.e boiling the water and capturing the steam which rises from the water and allows the steam to condense. Whereas in reverse osmosis (RO), the water molecules are allowed to pass through but not the contaminants. </li><li>The concentrator will have an air filter that concentrates clean air, make sure you place that filter before using the machine. It should be washed at least once a week with warm water only and use it after it gets dried.</li><li>Start your oxygen concentrator at least 10-15 minutes prior using it as it takes a little while for the device to concentrate pure oxygen.</li><li>Don’t use extension cord to plug in the concentrator as it requires a lot of power to function and might risk fire as well.</li><li>You will hear the sound of processing once you switch it on. Always make sure to check the light which indicates that the device is working properly.</li><li>Before using it, locate the litre control knob which may be marked with litres per minute (LPM) such as 1, 2, 3. Set the knob to prescribed LPM. If not sure, please consult your doctor for clarification.</li><li>Please ensure that the tubing doesn’t have any kinks or bends as it may hamper the oxygen supply and also make sure there are no gaps in the sides of your mask you’re using to breathe.</li><li>In case if you’re using a nasal cannula, adjust it upwards into your nostrils for high levels of oxygen.</li></ol>SEE ALSO: <a href="https://www.businessinsider.in/tech/apps/news/battlegrounds-mobile-india-pre-registrations-to-begin-on-may-18/articleshow/82702403.cms">PUBG Mobile: Battlegrounds Mobile India pre-registrations to begin on May 18 – rewards, maps and more</a> <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-backed-moglix-is-the-13th-unicorn-from-india-this-year/articleshow/82702143.cms">Ratan Tata-backed Moglix is the 13th unicorn from India this year</a> <a href="https://www.businessinsider.in/cryptocurrency/news/elon-musk-hints-that-tesla-may-dump-its-billion-dollar-bitcoin-investment/articleshow/82699553.cms">Elon Musk hints that Tesla may dump its billion dollar Bitcoin investment — here’s why his tweets have so much power</a>

COVID-19: Here’s a step-by-step guide on how to use an oxygen concentrator at home

While <a href="http://www.businessinsider.in/searchresult.cms?query=Alibaba+&amp;sortorder=effectivedate">Alibaba </a>puts in place its plans of entering the consumer-facing e-commerce space in India, the CEO <a href="http://www.businessinsider.in/searchresult.cms?query=Jack+Ma-led&amp;sortorder=effectivedate">Jack Ma-led</a> Chinese ecommerce behemoth has also taken several steps to strike partnerships to improve its existing business-to-business marketplace venture here in India. 
 According to some sources, <keyword id="302749" type="COMPANY" weightage="100" keywordseo="Alibaba">Alibaba</keyword> might partner with <a href="http://www.businessinsider.in/searchresult.cms?query=DHL&amp;sortorder=effectivedate">DHL</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Delhivery&amp;sortorder=effectivedate">Delhivery</a> to provide Indian sellers with domestic and international logistics support and also financial support with the help of its already existing partners like <keyword id="44373" type="CITY" weightage="20" keywordseo="Aditya-Birla-Group">Aditya Birla Group</keyword>'s <keyword id="6355260" type="CITY" weightage="20" keywordseo="NBFC">NBFC</keyword> arm, <a href="http://www.businessinsider.in/searchresult.cms?query=IDFC+Bank&amp;sortorder=effectivedate">IDFC Bank</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Kotak+Mahindra+Bank&amp;sortorder=effectivedate">Kotak Mahindra Bank</a>. 
 
Some players already exist in this space like <a href="http://www.businessinsider.in/searchresult.cms?query=IndiaMART+&amp;sortorder=effectivedate">IndiaMART </a>and startups including Moglix, mSupply.com and Ofbusiness, besides <a href="http://www.businessinsider.in/searchresult.cms?query=Amazon+Business&amp;sortorder=effectivedate">Amazon Business</a>, which has a small presence here. 
 
There have been rumors about Alibaba's entering into the consumer e-commerce market through an acquisition, which will pit it against Amazon, <a href="http://www.businessinsider.in/searchresult.cms?query=Flipkart&amp;sortorder=effectivedate">Flipkart</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Snapdeal&amp;sortorder=effectivedate">Snapdeal</a>, where it's a small shareholder. 
 
An Alibaba spokesperson confirmed the partnerships. 
 
"Their B2B platform has been around for years but they haven't been able to make much progress scaling it. Now it seems they are seriously looking to focus on the B2B side by helping sellers with working capital and logistics. They'll also bring in Chinese vendors onto the site as they have great depth in the merchant ecosystem back home," a person privy to the developments told TOI. 
 
In 2015, Alibaba.com reported a profit of Rs 1.3 crore as per filings made to the Registrar of Companies. The number was almost the same a year ago. 
 
Alibaba has been operating in India since 2007 and it had claimed that its marketplace had 4.46 million registered Indian buyers and sellers at the end of 2014. 
(image:Reuters)

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