<ul><li><keyword id="6354544" type="UNKNOWN" weightage="20" keywordseo="kkr">KKR</keyword> has invested $625 million for a controlling stake in Gujarat-based Vini Cosmetics.</li><li>Vini Cosmetics founders and existing investor Sequoia Capital have sold a part of their stake in the company.</li><li>The 11-year old company sells its products in over 55 countries, and has a network of 7 lakh points of sale in India.</li></ul>American private equity firm KKR has invested $625 million for a controlling stake in Gujarat-based Vini Cosmetics, the maker of Fogg brand of deodorant. The transaction is expected to close by July 2021. Vini Cosmetics’ founder group led by the father-son duo Darshan Patel and Dipam Patel, along with existing investor Sequoia with 17% shareholding, will be selling a majority of their stake in the company to KKR. Another existing investor WestBridge Capital will acquire further stake from the Vini Cosmetics’ founders in order to raise its shareholding from 21% to 23%. KKR, in a press note released on Monday, has announced that the company’s co-founders and WestBridge Capital will continue to hold a significant position in Vini Cosmetics. Darshan Patel will continue as the chairperson of Vini’s board, while Dipam Patel will be appointed as vice chairperson. It did not divulge the co-founders’ current stake in the firm. “Vini has experienced remarkable growth over the last 11 years, but we believe we are in the early stages of what our brands can deliver as consumer demand for high-quality personal care products continues to explode in India, South Asia and other fast-growing markets around the world… KKR has a proven track record of investing in the growth of some of India’s most innovative and disruptive homegrown champions, as well as in leading consumer and personal care companies globally,” Darshan said. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="3" style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;background-color:#cfe2f3;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">KKR-Vini Cosmetics' Deal Advisors </td></tr><tr><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Role </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Client </td></tr><tr><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Shardul Amarchand and Mangaldas </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Legal Advisors </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vini Cosmetics </td></tr><tr><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">KPMG, EY, AZB &amp; Partners and STB </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Advisors </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">KKR </td></tr><tr><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Steer Advisors </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Transaction Advisors </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Vini Cosmetics, KKR </td></tr><tr><td colspan="3" style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Source: KKR, Vini Cosmetics Press Note </td></tr><tr></tr></tbody></table> Vini Cosmetics, founded in 2010, manufactures, markets and distributes branded cosmetics, deodorants and toiletries through its flagship brand Fogg. It also has brands like perfume brand OSSUM and powder cream brand GlamUp under its banner. The products are sold in 55 countries, and have a significant presence across South Asia and the Middle East. In order to maintain its position, the company has created a distribution network of over seven lakh points of sale (PoS), 3,000 dealers and a sales force of 1,200 in India alone. KKR’s partner Gaurav Trehan emphasises that Vini Cosmetics has established itself as the fastest growing personal care company in India. KKR is making this investment through its Asian Fund IV, which has invested in Lenskart, <a href="https://www.businessinsider.in/business/news/reliance-strikes-5th-deal-sells-2-32-pc-in-jio-platforms-for-rs-11367-cr-to-kkr/articleshow/75881643.cms">Reliance Jio</a> and <a href="https://www.businessinsider.com/kkr-invest-755-million-reliance-retail-for-12-stake-2020-9">Reliance Retail </a>since last year. The company owns about 1.2% stake in Reliance Retail and 2.32% stake in Reliance Jio. <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td colspan="3" style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;background-color:#cfe2f3;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">KKR's Indian Portfolio </td></tr><tr><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">HQ </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Year Of Investment </td></tr><tr><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Avendus Capital </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2016 </td></tr><tr><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">EuroKids </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2019 </td></tr><tr><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FiveStar </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Chennai </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2021 </td></tr><tr><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Max Healthcare </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">New Delhi </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2017 </td></tr><tr><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Reliance Jio </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2020 </td></tr><tr><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Reliance Retail </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td><td style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2020 </td></tr><tr><td colspan="3" style="border-left:solid #4a86e8 0.75pt;border-right:solid #4a86e8 0.75pt;border-bottom:solid #4a86e8 0.75pt;border-top:solid #4a86e8 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">*Source: KKR's Website </td></tr><tr></tr></tbody></table>

Jio Investor KKR buys controlling stake in Fogg maker Vini Cosmetics

<ul><li>The round was co-led by WestBridge Capital, Alpha Wave Incubation and Z3Partners.</li><li><keyword id="7412577" type="UNKNOWN" weightage="20" keywordseo="DealShare">DealShare</keyword> has raised about $183 million to date since its inception in 2018.</li><li>It primarily focuses on sale of groceries and household essential products.</li></ul><keyword id="526777" type="COMPANY" weightage="20" keywordseo="Tiger-Global">Tiger Global</keyword> has bet big bucks on social commerce startup DealShare, which closed its $144 million (₹1,075 crore) funding round on Thursday, July 8. The round was led by the New York-based venture capital firm and was co-led by WestBridge Capital, Alpha Wave Incubation and Z3Partners. Partners of DST Global, Matrix Partners India and Alteria Capital also participated in this round. This marks the third funding deal for DealShare in a span of seven months. The company claims that its valuation has increased nine-fold in this same period. The Jaipur-based startup has not shared any other details about its valuation. Avendus acted as the exclusive financial advisor to DealShare on this transaction. The startup will use this funding to invest in artificial intelligence (AI)-driven innovations to offer more personalised experiences to its customers as well as improve and scale operations. A part of the funding would also be used for DealShare’s geographical expansion. The social commerce startup aims to increase its footprint from 20 warehouses across 5 states to over 200 warehouses across 10 states by the end of 2021. “We are proud to have a strong team of innovators who love to continually learn consumer behaviour and solve hard business problems. This has enabled DealShare to rapidly grow to $200 million GMV [Gross Merchandise Value] ARR [Annual Run Rate]... Our monthly active users already use our app over 40 times a month making it the most engaging ecommerce app and we will continue to add more innovative capabilities and services to serve a wider range of user needs,” DealShare’s chief executive and co-founder Vineet Rao said. DealShare competes with other social commerce platforms like <a href="https://www.businessinsider.in/business/startups/news/citymall-a-startup-that-helps-budding-entrepreneurs-start-their-ventures-on-whatsapp-has-raised-over-22-million/articleshow/83741383.cms">Meesho, CityMall and BulBul</a>, among others. Meesho entered the unicorn club in April 2021 and has raised $515 million to date from SoftBank, Facebook and others. A unicorn, in startup parlance, is a private firm valued at or more than $1 billion. Overall, DealShare has raised $183 million to date since its inception in 2018. The company was founded by Rajat Shikhar, Sankar Bora, Sourjyendu Medda and Rao. It primarily focuses on sale of groceries and household essential products through social media and messaging platforms like WhatsApp. The Jaipur-based startup claims to service 1 lakh orders on a daily basis and has marked its presence in 40 Indian cities and towns. It is now aiming to expand to over 100 cities in 2021. The company further claims to have acquired 30 lakh consumers to date. DealShare’s COO and founder Bora has emphasised that the company has over 1,000+ micro-entrepreneurs partners registered on the platform, who help sell the products online. The company targets to increase this figure to 5,000 by year end. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/zomato-ipo-to-open-on-july-14-with-shares-priced-at-72-76-apiece/articleshow/84226269.cms">Zomato IPO to open on July 14 ⁠with shares priced at ₹72-76 apiece</a> <a href="https://www.businessinsider.in/business/startups/news/tiger-global-backed-moglix-acquires-b2b-e-commerce-platform-vedaxo/articleshow/84198960.cmshttps://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 href="https://www.businessinsider.in/business/startups/news/payments-firm-pine-labs-raises-600-million-as-it-plans-to-go-public-by-2022/articleshow/84162996.cms">Payments firm Pine Labs raises $600 million as it plans to go public by 2022</a>

Social commerce startup DealShare raises $144 million from Tiger Global

<ul><li>The health insurer’s IPO is looking to raise ₹7,249 crore through the public issue of shares.</li><li>The IPO consists of a fresh issue of shares worth ₹2,000 crore and an offer for sale of 5.83 crore shares by existing promoters and shareholders.</li><li><keyword id="12595847" type="General" weightage="20" keywordseo="star-health-and-allied-insurance-ipo" source="Orion">Star Health and Allied Insurance IPO</keyword> will open on November 30 and close on December 2.</li></ul>Health insurance company Star Health and Allied Insurance, which is backed by marquee investors like <keyword id="6398943" type="General" weightage="20" keywordseo="rakesh-jhunjhunwala" source="Orion">Rakesh Jhunjhunwala</keyword> and Westbridge Capital, is all set to open its initial public offering (IPO) next week. The company is looking to raise ₹7,249 crore through the public issue of shares. The price band of the IPO is ₹870-900 per share. The IPO consists of a fresh issue of shares worth ₹2,000 crore and an offer for sale of 5.83 crore shares by existing promoters and shareholders. Here are some important dates of the IPO: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹870 to ₹900 </td></tr><tr><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 30 </td></tr><tr><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 2 </td></tr><tr><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 7 </td></tr><tr><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 8 </td></tr><tr><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 9 </td></tr><tr><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 10 </td></tr><tr><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #000000 0.9375pt;border-right:solid #000000 0.9375pt;border-bottom:solid #000000 0.9375pt;border-top:solid #000000 0.9375pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16 </td></tr></tbody></table> Safecrop Investments India LLP, APIS Growth 6, University of Notre Dame DU LAC, MIO IV Star, MIO Star, ROC Capital, Sai Satish, Venkatasamy Jagannathan, Konark Trust, Berjis Minoo Desai and MMPL Trust are all of the shareholders selling shares in the IPO. The net proceeds from the fresh issue will be utilised towards augmentation of the company's capital base and maintenance of solvency levels. The private health insurer has a market share of 15.8% in the Indian health insurance market as of financial year 2021. As of September 30, 2021, it has a distribution network of 779 health insurance branches spread across 25 states and 5 union territories in India. The health insurer has made a loss for the first time in three years in FY21 while revenue continues to rise. <div type="image" title="star health 2" height="900" width="1200" msid="87882134" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/bharti-airtel-coal-india-spicejet-and-other-stocks-to-watch-out-for-on-november-24/slidelist/87879862.cms">Bharti Airtel, Coal India, SpiceJet and other stocks to watch out for on November 24</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/url-go-fashion-ipo-allotment-tomorrow-and-gmp-is-falling-every-day/articleshow/87876496.cms">Go Fashion IPO allotment tomorrow; GMP on a downward trend</a>

Rakesh Jhunjhunwala-backed Star Health and Allied Insurance set to open its IPO next week — here are a few important details

New Delhi, Mar 12 () Gaming <keyword id="10915216" type="UNKNOWN" weightage="20" keywordseo="firm-nazara-technologies">firm Nazara Technologies</keyword> on Friday said its initial public offer will open on March 17, with a price band of Rs 1,100-1,101 a share for the issue. The initial public offering (IPO) will conclude on March 19 and the bidding for anchor investors would open on March 16, <keyword id="125145" type="COMPANY" weightage="20" keywordseo="Nazara-Technologies">Nazara Technologies</keyword> said in a virtual press conference. The company, backed by <keyword id="10108243" type="UNKNOWN" weightage="20" keywordseo="ace-investor-rakesh-jhunjhunwala">ace investor Rakesh Jhunjhunwala</keyword>, is popularly known for its games on World Cricket Championship, Chhota Bheem and Motu Patlu series. <keyword id="242260" type="COMPANY" weightage="20" keywordseo="Nazara">Nazara</keyword>'s public issue will see sale of 52,94,392 equity shares by the promoters and existing shareholders. Those selling shares in the IPO include Mitter Infotech LLP, a promoter of the company, IIFL Special Opportunities Fund, Good Game Investment Trust, IndexArb Securities and Azimuth Investments. The offer includes a reservation aggregating up to Rs 2 crore for purchase by the company's employees. At the upper end of the price band, the IPO is expected to fetch Rs 583 crore. Explaining the rationale behind the IPO, the company said that listing of equity shares will enhance its brand name and provide liquidity to the existing shareholders. The listing will also provide a public market for equity shares in India. The equity shares are proposed to be listed on BSE and NSE. ICICI Securities, Nomura Financial Advisory and Securities (India) Private Limited, Jefferies India Private Limited and IIFL Securities have been appointed as the merchant bankers to manage the company's initial public offer. In January, WestBridge Ventures II Investment Holdings, a fund managed by WestBridge Capital, exited from Nazara by selling shares worth over Rs 500 crore to Plutus Wealth Management LLP and its associates. Apart from the latest transaction, WestBridge had sold shares to IIFL Special Opportunities Fund and <keyword id="6398943" type="PERSON" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword>, who had invested Rs 327 crore and Rs 182 crore, respectively, in Nazara during 2017. The company has undertaken investments and acquisitions in various gaming categories, including esports, edutainment, infotainment, fantasy sports, multiplayer games like carrom and mobile cricket games, among others to strengthen its position in the gaming and sports media space. Nazara owns IPs, including WCC and CarromClash in mobile games, Kiddopia in gamified early learning, NODWIN and Sportskeeda in esports and esports media, and Halaplay and Qunami in skill-based, fantasy and trivia games. The company had earlier filed preliminary papers with Sebi in February 2018 and had received approved by the market regulator to float the IPO but the firm did not launch its public issue. SP ANS ANS

Rakesh Jhunjhunwala-backed Nazara Technologies IPO set to open on March 17 — sets price band at ₹1,100-1,101 per share

<ul><li>Global and <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword>n startup stalwarts set to converge, celebrating the spirit of unstoppable entrepreneurs at Unstoppable India: <keyword id="6069165" type="General" weightage="80" keywordseo="tiecon-delhi" source="Orion">TiEcon Delhi</keyword> 2022 on March 24-25, 2022.</li><li>Over 125 phenomenal speakers, over 60 exciting Sessions, prolific investor community are expected</li><li>Featuring exciting conversations on new opportunities like never before for Unstoppable India, masterclasses and workshops from the best in the startup world, startup awards, immersive live pitches, on spot funding, startups showcase and engaging networking zones.</li></ul>Celebrating the spirit of unstoppable entrepreneurs and with the resolve to continually nurture entrepreneurship, TiE Delhi – NCR announced the opening of the 2 Day online conclave, Unstoppable India : TiEcon Delhi – NCR to be held on 24th - 25th March 2022. With the backdrop of the exponential rise of Indian Start-ups, the conclave aims to bring to the fore the success stories, the mantras for success &amp; sneak peek into trends of the future. TiEcon Delhi 2022 is the ultimate platform to network and learn from a galaxy of stellar speakers comprising leaders, thought leaders, investors, and founders from across the world. The conference curated by entrepreneurs, for entrepreneurs - will bring together an outstanding line-up including successful entrepreneurs, ace industry leaders, top investors, senior policymakers, thinkers and all key stakeholders from India and around the world. The marquee names who will be part of Unstoppable India : TiECon Delhi include <keyword id="76921" type="General" weightage="20" keywordseo="vinod-khosla" source="Orion">Vinod Khosla</keyword>, Founder, Khosla Ventures; <keyword id="617730" type="General" weightage="20" keywordseo="Isha-Ambani" source="Orion">Isha Ambani</keyword>, Executive Leadership, Reliance Jio, Reliance Foundation; <keyword id="6379793" type="General" weightage="20" keywordseo="Falguni-Nayar" source="Orion">Falguni Nayar</keyword>, Founder &amp; CEO,Nykaa ; Puneet Chandok, President, India and South Asia, AWS ; Rishad Tobaccowala, Author, Advisor, Educator Chairman, The Tobaccowala Foundation ; Alan Murray,CEO, FORTUNE; Anil Agrawal, Additional Secretary, DPIIT; Anand Rajaraman, Founding Partner, Rocketship.vc; Atishi Marlena, Indian Politician, Educator, Political Activist &amp; MLA, Delhi Govt ; Punit Renjen, Global CEO, Deloitte; <keyword id="1397790" type="General" weightage="20" keywordseo="vani-kola" source="Orion">Vani Kola</keyword>, MD, Kalaari Capital ; Sudip Goswami, Director &amp; GM – South India &amp; Start-ups, Dell Technologies, India; Aditya Swamy, Director, Google Play Partnerships; <keyword id="99205" type="General" weightage="20" keywordseo="vikram-gupta" source="Orion">Vikram Gupta</keyword>, Founder &amp; MD, IvyCap Ventures, Priya Rajan, MD - Global Gateway, Silicon Valley Bank ; Deep Kalra, Founder &amp; Exec Chairman, MakeMyTrip ; GV Ravishankar, MD, Sequoia Capital India; Irina Ghose, ED, Cloud Solutions, Microsoft; Deepak Ramineedi, Partner, Westbridge Capital; Avnish Sabharwal, MD, Accenture Ventures &amp; many more. "The start-up ecosystem is set to accelerate India’s economic recovery with entrepreneurs cruising in top gear. With over 57 sessions &amp; 125+ speakers, we are here to not only celebrate the spirit of these unstoppable entrepreneurs, we are here to roll our sleeves up, and get our hands dirty, to help them focus on how to keep flying high and continue to be unstoppable. As a co-chair alongside Priya Rajan and Aditya Paul Berlia, it's my pleasure to invite you all to join us at TiEcon Delhi-NCR 2022, March 24–25."- Sandeep Sinha, Co-Founder &amp; Managing Partner- Lumis Partners &amp; Co Chair - TiEcon Delhi. Srikant Sastri, President, TiE Delhi &amp; NCR, said, “The Indian Startup ecosystem is at an all-time high with record number of IPOs and capital inflow. The unprecedented rate of emergence of new unicorns has taken India’s tally to- the third highest from any country globally! Unstoppable India, is focused on unravelling what made some of these start-ups reach the pinnacle and the new opportunities that await. TiEcon Delhi 2022 will be one of the largest conferences for entrepreneurs anywhere in the world &amp; the most exciting platform for knowledge sharing, networking &amp; mentorship for entrepreneurs globally. Attendees can partake in in-depth discussions, take home sectoral insights, spot trends in the making and become a part of masterclasses by stalwarts of entrepreneurship. It’s heartening to see the platform go from strength to strength each year.” Attendees can benefit from conversations from across a wide variety of sectors including HealthTech, Crypto, EdTech, Retail, Ecommerce &amp; others. Start-up entrepreneurs can also showcase their ventures, meet investors, engage with government organizations, attend knowledge sessions, &amp; explore partnership opportunities. The specially designed virtual exhibition area will feature start-ups from across India. The event will also host funding opportunities &amp; various awards recognizing Stellar Startups - TiE the Knot, TiE- Lumis Entrepreneurial Excellence Awards &amp; TiE &amp; Power2SME Spirit of Manufacturing Awards. A curated set of start-ups in the assistive solutions space shall also showcase &amp; pitch to India’s leading investors. This edition of TiEcon marks the introduction of TiEcoins - reward points offered by TiE Delhi- NCR to all the attendees of TiEcon Delhi 2022. They can earn and collect these points while engaging on the event platform on 24-25 March &amp; redeem them for a variety of unprecedented networking and mentorship opportunities. To RSVP and attend the event free, click <a href="https://hub.tie.org/e/unstoppable-india">here</a>

Vinod Khosla, Isha Ambani, Falguni Nayar, Rajan Anandan and many more to speak at TiEcon Unstoppable India

<ul><li>Star Health and Allied Insurance IPO has opened today and will close on December 2.</li><li>The health insurer’s IPO is looking to raise ₹7,249 crore through the public issue of shares.</li><li>The IPO consists of a fresh issue of shares worth ₹2,000 crore and an offer for sale of 5.83 crore shares by existing promoters and shareholders.</li><li>The company is fetching a premium of ₹10 over the upper price band of ₹900 in the grey market.</li></ul>Health insurance company Star Health and Allied Insurance, which is backed by marquee investors like Rakesh Jhunjhunwala and Westbridge Capital, has opened its initial public offering (IPO) today and will last till December 2. The company is looking to raise ₹7,249 crore through the public issue of shares. The price band of the IPO is ₹870-900 per share. The IPO consists of a fresh issue of shares worth ₹2,000 crore and an offer for sale of 5.83 crore shares by existing promoters and shareholders. Also, the company is fetching a premium of ₹10 over the upper price band of ₹900 in the grey market. Here are some of the important details of the IPO: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Issue details </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;"> </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Price band </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">₹870 to ₹900 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO open date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">November 30 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO close date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 2 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Allotment date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 7 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Initiation of refunds </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 8 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Credit of shares to demat account </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 9 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IPO listing date </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">December 10 </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Minimum lot </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">16 </td></tr></tbody></table> While most analysts <a href="https://www.businessinsider.in/stock-market/news/star-health-ipo-is-asking-for-five-times-the-price-that-rakesh-jhunjhunwala-paid-in-2018/articleshow/87979818.cms">suggest subscribing to the IPO for the long term</a>, some are cautious about the high valuations. Angel One broking firm likes the price as it says the valuations appear fair considering its positioning. “Star Health stands out among other standalone health insurers in terms of size, strong growth rates and better operational performance which is reflected in pre-Covid numbers for the company. The valuations commanded by Star Health are in-line with recent deals in the segment and appear fair considering its positioning. Hence, we recommend ‘subscribe’ from a long-term perspective only,” said the broking firm. Rajnath Yadav from Choice broking firm thinks the IPO could have been cheaper. “At a higher price band of ₹900, Star Health is demanding a market cap-to-net premium earned multiple of 10.3 times, which is at premium to the peer average. Moreover, the demanded valuations are at elevated premium to recent capital issuance,” said the analyst The private health insurer has a market share of 15.8% in the Indian health insurance market as of financial year 2021. As of September 30, 2021, it has a distribution network of 779 health insurance branches spread across 25 states and 5 union territories in India. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/meet-parag-agarwal-the-iit-bombay-grad-who-is-taking-over-from-jack-dorsey-at-twitter/articleshow/87989039.cms">Meet Parag Agarwal, the IIT Bombay grad who is taking over from Jack Dorsey at Twitter</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/star-health-ipo-is-asking-for-five-times-the-price-that-rakesh-jhunjhunwala-paid-in-2018/articleshow/87979818.cms">Star Health IPO is asking for five times the price that Rakesh Jhunjhunwala paid in 2018</a>

Star Health IPO opens today — Check out close date, allotment and other important details

<ul><li><keyword id="865820" type="General" weightage="20" keywordseo="skit" source="Orion">Skit</keyword> has raised $23 million in funding to help more businesses automate their call centre operations.</li><li>A part of the funding would also be utilised by Skit for sales and marketing efforts, and R&amp;D.</li><li>The company counts Hathway, <keyword id="361005" type="General" weightage="20" keywordseo="Barbeque-Nation" source="Orion">Barbeque Nation</keyword>, Porter and Axis Bank as its clients.</li></ul>Bengaluru-based artificial intelligence (AI) startup Skit has raised $23 million in external funding to help more businesses automate their call centre operations. Skit, formerly known as <keyword id="4534386" type="General" weightage="20" keywordseo="vernacular-ai" source="Orion">Vernacular.ai</keyword>, aims to double down its operations in both domestic and international markets. The company is also looking to expand its current team of 200 employees as it further scales its business. As a part of this plan, the company has also set up its headquarters in New York in August. “This investment comes when we are making strategic inroads into the US and Southeast Asian markets. The global contact center market size is expected to grow steadily and reach a value of $496 billion by 2027,” Skit’s chief executive (CEO) and co-founder Sourabh Gupta said. A part of the funding would also be utilised by Skit for sales and marketing efforts, building delivery capabilities, research and development (R&amp;D) and expanding its product offerings. The Series A round was led by WestBridge Capital, with participation from existing investors Kalaari Capital and Exfinity Ventures. Angel networks LetsVenture and AngelList also infused an undisclosed amount in this round. Overall, the company has raised $30 million since its inception in 2016. Skit was founded by Gupta and Akshay Deshraj five years ago. The software-as-a-service (SaaS) company offers a suite of speech and language solutions that allow enterprises to automate their call centre operations. The company counts Hathway, Barbeque Nation, Porter and Axis Bank as its clients. It also claims to have increased its revenue and customer base by four-times since its last fundraise in May 2020. The company claims that its flagship product Vernacular Intelligent Voice Assistant (VIVA) currently responds in over 16 languages covering 160 dialects and has the capability to replicate human-like conversations. SEE ALSO <a href="https://www.businessinsider.in/investment/news/doge-meme-nft-is-being-auctioned-off-in-17-billion-pieces/articleshow/85833023.cms">The most expensive meme NFT ever sold will be auctioned off in 17 billion pieces tonight </a><a href="https://www.businessinsider.in/business/corporates/news/icici-bank-becomes-the-sixth-valuable-firm-after-ril-tcs-hdfc-bank-infosys-and-hul-in-india/articleshow/85828220.cms">ICICI Bank becomes the sixth valuable firm in India with over ₹5 trillion mcap after RIL, TCS, HDFC Bank, Infosys, and HUL</a> <a href="https://www.businessinsider.in/business/telecom/news/minimum-broadband-speed-in-india-increased-to-2mbps-from-512kbps/articleshow/85828322.cms">TRAI suggests government to pay for half of your broadband bill, increases minimum broadband speed to 2 Mbps</a>

Skit, which helps Barbeque Nation and Axis Bank automate call centres, has raised $23 million in funding

<ul><li><keyword id="7413620" type="UNKNOWN" weightage="20" keywordseo="simsim">simsim</keyword> will continue to work independently as a separate entity even after the acquisition.</li><li>It has raised about $15.5 million to date from Accel, Shunwei Capital and Good Capital.</li><li>The Indian social commerce segment is really hot at the moment, with the entry of Tiger Global and SoftBank.</li></ul>US-based search giant Google’s video streaming platform <keyword id="10879" type="CITY" weightage="20" keywordseo="YouTube">YouTube</keyword> has announced the acquisition of Indian <keyword id="9674678" type="UNKNOWN" weightage="20" keywordseo="Video-Commerce">video commerce</keyword> platform simsim on Tuesday, July 20. The firms have not disclosed any financial details of the deal. simsim -- founded by Amit Bagaria, Kunal Suri, and Saurabh Vashishtha in June 2019 -- is an e-commerce platform that helps small businesses transaction to the digital economy using videos and content creation. The company connects local businesses, influencers and customers. “We started simsim with the mission of helping users across India shop online with ease, enabled through small sellers and brands showcasing and selling their products using the power of content by trusted influencers. Being a part of the YouTube and Google ecosystem furthers simsim in its mission,” the company’s co-founders said in a joint statement. simsim will continue to work independently as a separate entity even after the acquisition. YouTube, however, is now finding ways to showcase simsim offers to its viewers. “For over 15 years, small businesses have used YouTube to expand their presence online -- and many of them use YouTube to reach customers outside of their local community, from<a href="https://www.youtube.com/c/KAMSDESIGNERZONE/about"> Interior</a><a href="https://www.youtube.com/c/InteriorMaata/about"> Designers</a> to<a href="https://www.youtube.com/c/PrashantiHQ/featured"> Silk Saree sellers</a>. By bringing simsim and YouTube together, our goal is to help small businesses and retailers in India reach new customers in even more powerful ways,” Gautam Anand, vice president of YouTube Asia Pacific, said in a <a href="https://india.googleblog.com/2021/07/helping-viewers-discover-and-buy.html">blog post</a>. simsim has raised about $15.5 million to date from marquee investors like Accel, Xiaomi’s Shunwei Capital and Good Capital. The India social commerce segment is really hot at the moment, especially after the entry of Meesho in the unicorn club in April 2021. A unicorn, in startup parlance, is a private firm valued at or more than $1 billion. Earlier this month, DealShare announced a $144<a href="https://www.businessinsider.in/business/startups/news/social-commerce-startup-dealshare-raises-144-million-from-tiger-global/articleshow/84227890.cms"> million </a>funding round led by Tiger Global and co-led by WestBridge Capital, Alpha Wave Incubation and Z3Partners. In June, CityMall raised a $22<a href="https://www.businessinsider.in/business/startups/news/citymall-a-startup-that-helps-budding-entrepreneurs-start-their-ventures-on-whatsapp-has-raised-over-22-million/articleshow/83741383.cms"> million</a> funding round led by General Catalyst and Jungle Ventures, with participation from existing investors Accel, Elevation Capital (formerly known as SAIF Partners) and WaterBridge Ventures. Meesho, on the other hand, has raised $515 million to date from SoftBank, Facebook and others. The company had raised<a href="https://www.businessinsider.in/business/startups/news/facebook-backed-meesho-raises-300-million-from-softbank-vision-fund-2-valuation-jumps-to-over-2-billion/amp_articleshow/81907721.cms?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts"> $300 million</a> at a valuation of $2 billion. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/india-has-added-36191-new-companies-between-april-to-june-this-year/articleshow/84575166.cms">India added almost double the number of new businesses in the last three months compared to same time last year, while India was mostly under lockdown</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/jeff-bezos-intimate-messages-data-from-drug-cartels-adnan-kashoggi-the-many-things-pegasus-is-suspected-of-hacking-before-whatsapp/articleshow/71849602.cms">Jeff Bezos’ intimate messages, data from drug cartels, Jamal Kashoggi — the many things Pegasus is suspected of hacking instead of terrorists and criminals</a>

YouTube acquires two-year old Indian video commerce startup simsim

<ul><li><keyword id="125145" type="COMPANY" weightage="20" keywordseo="Nazara-Technologies">Nazara Technologies</keyword> is backed by <keyword id="6398943" type="UNKNOWN" weightage="20" keywordseo="rakesh-jhunjhunwala">Rakesh Jhunjhunwala</keyword>, one of India’s biggest stock market investors. </li><li>The gaming and sports media company is looking to join the league of tech startups looking to go public this year. These include Zomato, Nykaa, and Delhivery. </li><li>This is the second attempt at a market debut. <keyword id="242260" type="COMPANY" weightage="20" keywordseo="Nazara">Nazara</keyword> had earlier filed the DRHP in 2018 but didn't go through with its plans.</li><li>In the last two years, Nazara has made at least seven acquisitions and raised ₹500 crore in funds.</li></ul>Indian gaming and sports media company Nazara Technologies has re-filed the Draft Red Herring Prospectus with the Securities and Exchange Board of India (SEBI) as the first step towards its market debut. Nazara holds the license mobile gaming rights of popular cartoon characters like Chhota Bheem, Motu Patlu and Shikari Shambhu. It has also established itself in 64 countries across Africa, Middle East, South East Asia, and the Indian subcontinent. The public issue will see a sale of 4.96 million equity shares by Nazara’s promoters and investors. This year, Nazara’s <keyword id="3128913" type="PERSON" weightage="20" keywordseo="IPO-debut">IPO debut</keyword> could kick off a series of tech IPOs in the country as startups like Zomato, Nykaa, Delhivery are headed for the public markets. The Rakesh Jhunjhunwala-backed Nazara had first filed the DRHP in January 2018 and had even got approval from SEBI for an IPO (Initial Public Offering). However it didn’t go ahead with the launch because of a <a href="https://inc42.com/buzz/post-sportskeeda-acquisition-nazara-technologies-looks-at-ipo-in-2020/">market slump. </a> The company has been preparing for its market debut with acquisitions and funding in its kitty. Strengthening its capital base Nazara counts stock broking giant Rakesh Jhunjhunwala, IIFL Asset Management, Sequoia Capital, Plutus Wealth Management as its investors. Earlier in January 2021, WestBridge Ventures, an early investor in Nazara, had exited the company through a secondary transaction as Plutus pumped in ₹500 crore into the company. According to<a href="https://yourstory.com/2021/01/ys-learn-nazara-technologies-gaming-startup-exit-westbridge-capital"> reports</a>, the exit gave WestBridge 40 times the return on its investment. Nazara’s stakeholders <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></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;">Promoter </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;">Stake </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;">Mitter Infotech </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;">20.57% </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;">Arpit Khandelwal </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;">12.51% </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;">Rakesh Jhunjhunwala </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;">11.38% </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;">Plutus Wealth Management LLP </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;">6.91% </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;">IIFL Special Opportunities Fund </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;">6.04% </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;">IIFL Special Opportunities Fund - Series 4 </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;">4.94% </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;">IIFL Special Opportunities Fund - Series 5 </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;">4.16% </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;">IIFL Special Opportunities Fund - Series 2 </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;">3.89% </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;">Nitish Mittersain </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;">3.49% </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;">Emerging Investment Ltd </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;">1.90% </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;">IIFL Special Opportunities Fund - Series 3 </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;">1.87% </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;">Riyaz Suterwalla </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;">1.73% </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;">Turtle Entertainment </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;">1.68% </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;">Manish Agarwal </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;">1.51% </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;">Seedfund2 International </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;">1.27% </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;">Anshu Dhanuka </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;">1.02% </td></tr></tbody></table>Source: Moneycontrol Nazara went on an acquisition spree Nazara strengthened its offerings by going on an acquisition drive. It has pumped in over $50 million in startups in the last two years. In fact, its acquisition spree even got it a ‘next Tencent’ reference in a <a href="https://economictimes.indiatimes.com/prime/technology-and-startups/nazaras-acquisitions-will-keep-it-up-to-speed-on-all-things-gaming-next-becoming-indias-tencent-/primearticleshow/79393487.cms">news report.</a> Some of Nazara’s top acquisitions <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></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;">Startup </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;">Sector </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;">Investment </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;">Paper Boat Apps </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;">Mumbai-based indie studio </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;">₹83.5 crore </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;">Sports Unity </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;">Creator of multiplayer quiz called Qunami </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;">₹7.5 crore </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;">Sportskeeda </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;">Sports media platform </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;">₹44 crore </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;">Bakbuck </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;">Local languages gaming platform </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;">Undisclosed </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;">Halaplay </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;">Fantasy gaming platform </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;">₹40 crore </td></tr></tbody></table> In November 2019, Nazara technologies said that it plans to invest $20 million in startups next year. This announcement was after in the same year, Nazara had already acquired five companies. “Looking at the explosive growth in the interactive entertainment and sports ecosystem, Nazara has decided to up its aggression on investing in the emerging market ecosystem and support early stage startups accelerating the growth of these companies and the industry at large,” Nazara Technologies CEO, Manish Agarwal had said then. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/indias-parliamentary-committee-summons-facebook-twitter-officials-over-misuse-of-social-media-platforms/articleshow/80321277.cms">India's parliamentary committee summons Facebook, Twitter officials over misuse of social media platforms</a>

The Rakesh Jhunjhunwala-backed Nazara Technologies is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings

<ul><li><keyword id="2321288" type="General" weightage="100" keywordseo="conquest" source="Orion">Conquest</keyword> is a student-run startup accelerator run by 30 engineering students of BITS Pilani.</li><li>It started as a B-plan competition by the founders of GreyOrange during their college days at BITS Pilani.</li><li>The 7-week accelerator programme will finally culminate in a Demo Day.</li></ul>In India, the era of fast-moving tech startups was ushered in post the 2000s, with the launch of smartphones, cheaper access to the Internet, and positive regulations in the space. Since then, the startup ecosystem has undergone a phase of swift development, seeing multiple cycles in an extremely compressed amount of time. We are now seeing the ecosystem accelerate its pace of growth as it races to reach the same levels as the startup worlds in the USA and Europe. The global interest in the ‘Indian Dream’ has never been greater, with Jio, UPI, and ONDC generating the thrust to justify this trust. Contributing and speeding this growth is Conquest, a student-run startup accelerator run by 30 engineering students of BITS Pilani who are striving to create value for early-stage startup founders. Conquest started as a B-plan competition by the founders of GreyOrange during their college days at BITS Pilani. Over the years, it pivoted into a full-fledged startup accelerator model inspired by the likes of Y Combinator. It is run by a group of students from BITS Pilani with the purpose of providing value to the startups who come to Conquest; by solving crucial problems like fundraising, mentorship, networking, and scaling which these startups face as they step into the market. It has successfully disbursed equity-less grants worth over ₹60 lakhs in the past two years, thus solving the problem of equity dilution for early-stage startup founders. <div type="image" title="Conquest 2019, Grand Finale at The Leela Palace - Bangalore" msid="93774234" hostid="261" sizebytes="1571761" caption="&amp;lt;p&amp;gt;Conquest 2019, Grand Finale at The Leela Palace - Bangalore&amp;lt;/p&amp;gt;"></div> The exhaustive 7-week accelerator programme will finally culminate in the Demo Day, which is the grand finale of the entire accelerator programme; where the 15 most promising startups (out of the 2,000 registered) will fly into Bangalore and pitch themselves to a jury consisting of top VCs, angel investors, representatives from partners like Nexus Venture Partners, Matrix Partners and other prominent stakeholders of the ecosystem. The Demo Day will be held on August 28, at Shangri-La in Bangalore and will be witnessed by founders and investment partners of some of India’s leading startups and representatives from the government. Speakers cutting across domains like <keyword id="11137018" type="General" weightage="50" keywordseo="sumit-gwalani" source="Orion">Sumit Gwalani</keyword> of Fi, Vishesh Khurana from Shiprocket, <keyword id="13079" type="General" weightage="50" keywordseo="rahul-sharma" source="Orion">Rahul Sharma</keyword> of Zetwerk, and Srikanth Velamakanni of Fractal.ai, Ashish Singhal of Coinswitch among others; will engage in insightful panel discussions. If you wish to be a part of the Demo Day, register directly from here: <a href="https://lu.ma/demo-day-conquest22">https://lu.ma/demo-day-conquest22 </a> This year, Conquest hosted over 100 experienced founders, VPs, and CXOs from Meesho, HBO, BigBasket and more as mentors. They provided over 350 mentoring sessions to the Conquest’22 cohort. It also has a large resource pool of partners like AWS, Notion and Freshworks <div type="image" title="Partners engaging in an insightful panel discussion" msid="93774251" hostid="261" sizebytes="1536781" caption="&amp;lt;p&amp;gt;Partners engaging in an insightful panel discussion&amp;lt;/p&amp;gt;"></div> Conquest is backed by some of the ecosystem’s biggest names, with WestBridge Capital as the title sponsor — a highly experienced investment firm managing over $5.6 billion across India and South Asia. It is also backed by SolRazr, the first decentralized developer ecosystem for Solana as the Web3 Track Sponsor. Conquest also has IDFC FIRST Bank as the exclusive banking partner, which provides an exhaustive suite of products and services for startups. Aditya Birla Ventures is the venture partner, and it backs new-age, high-growth businesses having the potential to emerge as industry leaders; and EY as the general sponsor, which is one of the world’s largest professional networks providing consulting, assurance, tax, and transaction services. Conquest also partnered with <keyword id="1767678" type="General" weightage="50" keywordseo="wework-labs" source="Orion">WeWork Labs</keyword> as an innovation partner, which is a global acceleration platform for early-stage startups, SMBs, investors, and enterprises offering access to capital, education, mentorship, cost-saving credits and premium collaborative workspaces for the founders in Conquest 2022. Venus Communiti, which is a Bangalore-based venture focusing on providing an all-in-one immersive living and working experience for entrepreneurs and professionals, is also the startup experience partner this year. Another initiative which the Conquest team conceptualized this year was the India Portfolio Summit, a weekend-long summit that chronicled the growth of the Indian startup ecosystem back from the 1980s. The summit was a grand success and saw some of the greatest entrepreneurial minds, including the likes of Aadit Palicha, Piyush Shah, Vibhor Jain and Dipti Tandon among others come together to talk about their journeys <div type="image" title="Representative image" msid="93774289" hostid="261" sizebytes="1204737"></div> Here is a glimpse at this year's cohort of Conquest- PredictRAM DeFi (<a href="https://predictram.com">https://predictram.com</a>) PredictRAM’s Risk Management Protocol uses AI.M, CI and Web 3 technologies that created event specific multi asset-backed traded tokens ETT to mitigate individual portfolio risk at low cost. StreamMoney (<a href="https://www.streammoney.finance/">https://www.streammoney.finance/</a>) StreamMoney is building a utility transfer protocol that transfers conditional ownership of NFTs without collateral. It facilitates P2P rentals of NFTs, NFT ticketing, memberships, and subscriptions (Live on Solana Devnet). Fragments (prev. <keyword id="14810458" type="General" weightage="50" keywordseo="gullak-party" source="Orion">Gullak Party</keyword>) (<a href="https://gullak.party/">https://gullak.party/</a>) Gullak Party enables diligent investors to set up investment DAOs for purchase-based investing with retailers. Statlogic (<a href="http://www.statlogic.io/">http://www.statlogic.io/</a>) Statlogic is a deep-tech company developing artificial intelligence-driven solutions in the field of animal husbandry and dairying. Green Tiger Mobility Private Limited (<a href="http://www.greentiger.in/">http://www.greentiger.in/</a>) It is India’s first company to offer a dual powertrain on two-wheelers. Debound (<a href="http://debound.in/">http://debound.in/</a>) Debound, is making a whole new category in the edtech space by cleverly integrating the hottest extracurricular skills from their palette right into school-level academics. Enpointe (<a href="http://www.enpointe.in/">http://www.enpointe.in/</a>) "enpointe" allows influencers to authenticate products by giving them a virtual storefront on a collective platform. OriginKonnect (<a href="https://originkonnect.in/">https://originkonnect.in/</a>) OriginKonnect is taking a holistic approach in simplifying global agri-food trade by building a technology B2B supply chain platform for agri-food exporters and importers. FreightFox (<a href="https://www.freightfox.ai/">https://www.freightfox.ai/</a>) With FreightFox, customers (manufacturing enterprises) experience better control, visibility and data-driven decision-making for logistics procurement and operations. UNINO Healthcare Private Limited (<a href="http://www.uninohealthcare.com/">http://www.uninohealthcare.com/</a>) UNINO has designed and developed patented technology for a chest drain management system called PleuraGoh®. Euphotic Labs (<a href="http://www.letsnosh.io/">http://www.letsnosh.io/</a>) Nosh is an AI-based home robot that makes cooking hassle-free and enables consumers to eat healthy and freshly cooked home food conveniently. Scrollify (<a href="https://scrollify.in/">https://scrollify.in/</a>) Scrollify is a bite-sized content platform, they are using trendy bite-sized content to create a platform for upskilling for industry professionals and students. <keyword id="14810457" type="General" weightage="50" keywordseo="xebra-biztech-llp" source="Orion">Xebra Biztech LLP</keyword> (<a href="https://xebra.in">https://xebra.in</a>) Xebra is a SaaS ERP for B2B MSMEs that provides real-time actionable to entrepreneurs from their business performance. Daffodil Health (<a href="https://www.daffodilhealth.com/">https://www.daffodilhealth.com/</a>) Daffodil Health is helping children with special needs and their families by solving the large demand-supply gap in the healthcare ecosystem by pioneering Parent Mediated Therapies. Aiverse (<a href="http://www.aiverse.co.in/">http://www.aiverse.co.in/</a>) Aiverse is a deep tech ecosystem enabler on the blockchain. It is dedicated to the collaboration, creation, and dommerce of deep tech. <div type="image" title="Scout My Trip - Winner of Conquest 2019, receiving equity less cash prize of ₹3 lakhs" msid="93774318" hostid="261" sizebytes="1066117" caption="&amp;lt;p&amp;gt;Scout My Trip - Winner of Conquest 2019, receiving equity less cash prize of ₹3 lakhs&amp;lt;/p&amp;gt;"></div> Disclaimer: This article is published in partnership with Conquest, BITS Pilani

BITS Pilani’s startup accelerator Conquest hosts its Demo Day in Bangalore

A significant measure of the level of entrepreneurial spirit in a country can be gained from the enthusiasm and zeal with which its early stage founders are solving real world problems. BITS Pilani is a university acclaimed for its booming startup culture and BITS alums at the helm of behemoths of the Indian startup ecosystem such as Swiggy, redBus, Groww, and Postman among others are a testament to the entrepreneurial energy of this institute. At the centre of this energy lies <a href="https://conquest.org.in/">Conquest</a>, a full-fledged startup accelerator inspired by the likes of Y Combinator and Sequoia’s surge. Run entirely by a driven group of 30 students from BITS Pilani motivated by the sole purpose of creating value for startups that come to <keyword id="2321288" type="General" weightage="100" keywordseo="conquest" source="Orion">Conquest</keyword>. Started in 2004, as a simple B-Plan competition, the ambition of the team behind Conquest continued to grow as they realised they have the potential to make a much deeper impact on the ecosystem- they pivoted first into an entrepreneurship conclave and finally into a startup accelerator in 2018. Just over the last five years Conquest alums have added significant value such as <a href="https://twitter.com/ConquestBITS/status/1478783724900663296?s=20&amp;t=hsxMvVYdhKfNAMBbRkGKkQ">ThinkerBell Labs</a> raising over Rs. 1.05 crores at Shark Tank India, Social Cops which was acclaimed by the Prime Minister in Mann Ki Baat, and Ippopay which was funded by Coinbase Ventures among others. <div type="image" title="Conquest" msid="90704080" hostid="261"></div> Even though the number of E-cells in the country has grown exponentially over the past decade, Conquest remains a unique endeavour with far reaching effects on the Indian ecosystem. The students involved inevitably end up becoming towering figures with the founders of GreyOrange - valued at over $500 Mn, Visit Health - an AI driven health diagnostic chatbot, and BiteSpeed - raised $1.9 Mn in seed funding having been a part of the accelerator at the beginning of their careers. This year’s Conquest Launch Event was an example of the ever growing scale of the program with stalwarts of Indian entrepreneurship sharing novel insights from their journeys. Ritesh Malik, the founder of Innov8 was the keynote speaker this year and spoke about the mental models that early stage teams should follow to maximise their chances of success. Being a flagbearer of innovation himself, he placed special emphasis on the power of compounding and making your product 1% better everyday. Describing his ideal founder he said, “Best founders create opportunities from their own problems. Change is the highest ROI business.” <div type="image" title="Conquest launch" msid="90704110" hostid="261"></div> Deepak Ramineedhi from Westbridge Capital as the Guest of Honour explained how with one of the largest consumer internet bases in the world, India is probably one of the best places to startup stating- “This is probably a once in a lifetime opportunity for young people to startup. If you want to start a business you will not find a better geography or time to start tech enabled businesses across sectors.” With a dynamic team, Conquest aims to continuously reinvent itself to adapt to the ever evolving ecosystem. With its fast expanding community of crypto enthusiasts, Conquest believes that India is poised to be at the centre of the technological revolution this time around. With the vision to fuel this revolution, Conquest has conceptualised a web3 track which will be a program exclusively for startups in the crypto metaverse and DeFi space. Since this is the inaugural edition for this track, Conquest hosted a <a href="https://twitter.com/ConquestBITS/status/1510469452621824001?s=20&amp;t=hsxMvVYdhKfNAMBbRkGKkQ">panel discussion</a> where thought leaders in these domains including the likes of Sandeep Nailwal, the Co-founder of Polygon, Akshay BD from Tanmay Bhat’s SuperteamDAO, Tanay Pratap, Co-founder and CTO of Invact Metaversity and <keyword id="13566661" type="General" weightage="50" keywordseo="vijay-kalangi" source="Orion">Vijay Kalangi</keyword>, the Co-founder of SolRazr got together to have an in depth conversation about bringing web3 to the next billion users. Akshay BD drew parallels about the hype surrounding crypto and web3 with that of social media in the last decade highlighting how even now it is a highly underrated phenomenon since it played a part in electing an American President. Sandeep in particular was highly optimistic about web3 stating “My advice would be with folded hands that even if you don’t understand web3 right now, do not miss this revolution. You might think many of these things are a scam and some of these things are but this is going to be a big part of your life for many years to come. Just keep learning. Keep learning and you’ll have your aha moment”. <div type="image" title="Conquest launch" msid="90704153" hostid="261"></div> Being an accelerator, Conquest understands the high octane nature of the startup world and how this continuously reshapes its role. To <a href="https://twitter.com/ConquestBITS/status/1510329556510867456?s=20&amp;t=hsxMvVYdhKfNAMBbRkGKkQ">discuss</a> how the accelerator model has been refined over the years and how it continues to be one of the most important programs for early stage ventures, Conquest hosted Arnav Sahu from Y Combinator, Rahul Seth from Antler India and Chintan Bakshi from CIIE. The ideas shared gave a layered understanding of the minds behind these programs. The ambitions of the Indian startup ecosystem grew so expeditiously that a huge gap of knowledge and capital was created between founders with great ideas and industry leaders with decades of experience and knowledge. Conquest aims to bridge this gap by bringing some of the most promising founders of this generation in close contact with investors, mentors and experts. Among the 3000+ registered startups, the top 100 startups are selected after careful consideration by a jury of industry experts. They are then provided with startup tool kit that includes valuable resources like SaaS product memberships which help them to further groom and scale themselves. The top 30 startups then get one-on-one mentoring sessions where they gather insights from some of the accomplished names from different walks of the startup ecosystem. These include the likes of Mahesh <keyword id="13566662" type="General" weightage="50" keywordseo="vandi-chalil" source="Orion">Vandi Chalil</keyword> (Head of Technology, BookMyShow), Arjun Nohwar (Country GM, HBO Max), Anirvan Chowdhury (Investments, Blume Ventures), <keyword id="13566663" type="General" weightage="50" keywordseo="zeenal-patel" source="Orion">Zeenal Patel</keyword> (AVP &amp; Product Design, AJIO.com). Funneling down further, Conquest provides the top 15 most promising startups with an exhaustive 6-week long online mentorship. Alongside the sector and vertical specific mentorship, we also host competitive pitching sessions and organize AMAs and fireside chats with some of the most prominent names in the industry like <a href="https://twitter.com/ConquestBITS/status/1410218767758462980?s=20&amp;t=hsxMvVYdhKfNAMBbRkGKkQ">Ankur Warikoo from Nearbuy</a> and <a href="https://twitter.com/ConquestBITS/status/1416404422897242114?s=20&amp;t=hsxMvVYdhKfNAMBbRkGKkQ">Awais Ahmed from Pixxel</a>. <div type="image" title="Conquest launch" msid="90704180" hostid="261"></div> In the Grand Finale, the top 10 startups from these 15 undergo an all-expenses-paid 10-day accelerator program in the country’s tech capital, Bengaluru, where they receive direct mentorship and attend sessions on vital topics like networking and fundraising. The six weeks of Conquest finally culminate with the Demo Day which is similar to what Shark Tank India made popular through our television sets. It is indeed astonishing to know that Conquest has been hosting this Demo Day where founders pitch their startups to reputed angel investors and a jury for the last five years, long before Shark Tank India came into existence! The Demo Day comprises keynote speeches and panel discussions with big names like <a href="https://twitter.com/ConquestBITS/status/1421127675284914180?s=20&amp;t=hsxMvVYdhKfNAMBbRkGKkQ">Shradha Sharma</a>, Sanjay Nath, and <keyword id="295255" type="General" weightage="50" keywordseo="sanjeev-bikhchandani" source="Orion">Sanjeev Bikhchandani</keyword> just to name a few. The winner of Conquest is then granted an equity-less cash prize. Over the last 2 years even in a Covid impacted capital market, Conquest disbursed over 60 lacs to winning startups. Registrations for the 18th edition of Conquest have now kicked off. To register click <a href="https://form.jotform.com/220931435484456">here</a>. <div type="image" title="Conquest launch" msid="90704225" hostid="261"></div> Disclaimer: Business Insider is the Exclusive Insights Partner to the event

India's largest student-run startup accelerator: Conquest, BITS Pilani launches its 18th edition. Registrations open.

The Entrepreneurship Cell of <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>n Institute of Technology (IIT), Bombay is a non-profit organisation that conducts several initiatives throughout the year to promote entrepreneurship. Having received patronage from the likes of <keyword id="6361804" type="General" weightage="20" keywordseo="unesco" source="Orion">UNESCO</keyword>, Startup India and Make in India, E-Cell envisions to portray entrepreneurship as a viable career option for the younger generation and push them towards becoming job creators rather than job seekers. Eureka! - the annual business model competition of <keyword id="12393576" type="General" weightage="20" keywordseo="E-Cell-IIT-Bombay" source="Orion">E-Cell IIT Bombay</keyword> is one of their initiatives that identifies the most innovative ideas and provides support to make them a commercial success. The startups that participate in the competition receive mentoring, funding, incubation, networking, and many other opportunities. There are prizes worth ₹80 lakhs for the winners along with the opportunity to present their idea at Expo 2020 Dubai. Started in 1998 with a prize money of ₹50,000, Eureka! has grown rapidly to become Asia’s largest business model competition with more than 10,000 entries coming in every year. Many startups from Eureka! have gone on to become multi-million dollar enterprises. Registrations for startups are open at: eureka.ecell.in With a year of lockdown and restricted business activity, several problems have become prevalent in society. Eureka! envisions to bring out the best solutions to these problems in different sectors and provide the support that is needed by them to solve the woes of society. This year, the competition is divided into 7 different tracks: 1. Salesken Business Track: The Flagship track of Eureka!, the business track aims to help ideas develop into businesses that have the potential to revolutionize the world. 2. Swavalamban SIDBI Social Track: The Social track encourages ideas and B-models which cater to people closer to the bottom of the pyramid and envision the greater good of the society. 3. SBI General Fintech Track: The fintech track encompasses advances in technology and changes in business models that have the potential to transform the provision of financial services through the development of innovative instruments, channels, and systems. 4. Shell Sustainable and Affordable Energy Track: The Sustainable and Affordable energy track encourages startups that are working towards clean energy goals and providing alternatives to traditional fuels. 5. Godrej Agrovet Food and Agro Track: The Food and Agro track aims at supporting innovation in the field of Food &amp; Agriculture industry. There is a lot of potential in this sector as the millennial generation is moving towards healthy eating habits while trying to retain the enjoyment of eating junk food. 6. Westbridge Capital Pan-IIT Track: The Pan-IIT track invites entries from startups founded by students or alumni of any of the 23 Indian Institute of Technology (IITs). 7. Gulf Islamic Investments Edutech Track: With the pandemic shaking up the entire world including the education system, transition to a digital mode has now become an absolute necessity rather than a mere technology-driven trait. This track has got education and innovation excellence at its core. From a startup’s perspective, Eureka! is much more than a competition. It provides opportunities that enable startups to reach the best places and create an impact in the country. E-Cell <keyword id="61708" type="General" weightage="20" keywordseo="IIT-Bombay" source="Orion">IIT Bombay</keyword> believes that for making India a superpower and taking it to the pinnacle of success, it is essential for us to support our entrepreneurs. Eureka! is an initiative that empowers the best ideas and helps the progress of the country. So, if you think your idea has the potential to change the world, register now! Deadline for registration is 26th October. Disclaimer: Business Insider is an insights partner for the event. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fino-payments-bank-will-be-the-first-fintech-startup-in-india-to-get-listed-on-the-bourses-and-it-is-profitable/articleshow/87280457.cms">Fino Payments Bank will be the first fintech startup in India to get listed on the bourses and it is profitable</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/amazon-backed-office-shuttle-service-shuttl-finds-a-saviour-in-chalo/articleshow/87278431.cms">Amazon-backed office shuttle service Shuttl finds a saviour in Chalo</a>

Pitch your startup ideas at IIT Bombay’s business model competition Eureka! — Here’s how you can apply

Facing intense political heat in India, <keyword id="6354576" type="UNKNOWN" weightage="20" keywordseo="facebook">Facebook</keyword> on Monday announced the appointment of former <keyword id="6354720" type="UNKNOWN" weightage="20" keywordseo="ola">Ola</keyword> Chief Operating Officer <keyword id="1385839" type="PERSON" weightage="20" keywordseo="arun-srinivas">Arun Srinivas</keyword> as director of its Global Business Group to lead the strategy and delivery of the India marketing solutions charter that is focused on large advertisers and agencies. Srinivas' appointment comes after a series of senior and leadership recruitments in recent months across marketing, partnerships, communications, and other key verticals in the country. "Large businesses and agencies play a crucial role in the country's digital economy and are critical to driving ecosystem standards for media," Sandeep Bhushan, Director and Head of Global Marketing Solutions, Facebook India, said in a statement. "I am thrilled to welcome Arun as he joins our team as Director GBG, and leads the mandate to shape the role the Facebook family apps can play in enabling businesses, supporting India's economic recovery, and building the digital advertising ecosystem of the country." As a part of his role, Srinivas will spearhead the company's strategic relationship with the country's leading brands, agencies, and partners to drive Facebook's revenue growth in key channels in India, and partner the media and creative ecosystems for accelerating adoption of digital tools by businesses. He will have the company's key business vertical teams, agency teams, and business solutions teams reporting into him. Srinivas comes with 24 years of experience in senior sales and marketing roles at companies such as Ola, Unilever, and Reebok. He also did a stint at investment firm WestBridge Capital Partners where he led the consumer vertical. The social networking giant recently courted controversy after a Wall Street Journal report on August 14 said that the top leadership at Facebook's India office refused to apply the company's own rules to politicians from the Bharatiya Janata Party (BJP), despite clear violations of Facebook's policies against incitement to violence, hate speech, and misinformation. Following this a coalition of 41 civil rights groups demanded that Facebook India should immediately place its public policy head Ankhi Das on a leave of absence pending a full audit of the company and an investigation into her statements as reported in WSJ.

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BITS Pilani’s startup accelerator Conquest hosts its Demo Day in Bangalore

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India's largest student-run startup accelerator: Conquest, BITS Pilani launches its 18th edition. Registrations open.

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