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D2C home and sleep solutions platform Wakefit.co on Thursday launched a 'No Questions Asked' wellness leave policy for its employees. The policy extends a no-questions-asked leave to all employees once a month. These wellness leaves can be availed by the workforce to support their physical, mental, or emotional well-being by taking time off to unwind and rejuvenate themselves, the platform said in a statement. The employees can also utilise their wellness leaves to opt for leisurely activities. "With this policy, we hope to encourage our employees to unwind, focus on their health, and spend time with their loved ones by taking their wellness leave with no questions asked," said <keyword id="2800926" type="General" weightage="80" keywordseo="umanath-nayak" source="Orion">Umanath Nayak</keyword>, Head of HR, Wakefit.co. With the onset of the Covid-19 pandemic, the company overhauled its existing policies to mould them into the digital-first world. It unveiled its landmark 'Right to Nap' policy in May 2022 to enable employees to take a power nap between 2 and 2.30 p.m. Additionally, Wakefit.co also launched the flexi work policy for new parents. "These initiatives are impactful steps towards enabling a healthy work-life balance among its workforce," it said. Founded by Ankit Garg and <keyword id="1639108" type="General" weightage="80" keywordseo="chaitanya-ramalingegowda" source="Orion">Chaitanya Ramalingegowda</keyword> in March 2016, the company received Series A funding from marquee investor <keyword id="136147" type="General" weightage="80" keywordseo="sequoia-capital-india" source="Orion">Sequoia Capital India</keyword>, Series B funding from <keyword id="2248588" type="General" weightage="80" keywordseo="verlinvest" source="Orion">Verlinvest</keyword> and Sequoia Capital India, and recently received Series C funding from US-based <keyword id="857014" type="General" weightage="50" keywordseo="sig" source="Orion">SIG</keyword>, while existing investors, Verlinvest and Sequoia Capital India also participated. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/cognizant-closes-q3-with-4-9-bn-revenue-to-acquire-onesource-ld/articleshow/95275456.cms">Cognizant closes Q3 with $4.9 bn revenue, to acquire OneSource (Ld)</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/indias-services-sector-recovers-some-growth-momentum-it-lost-in-september/articleshow/95273704.cms">India's services sector recovers some growth momentum it lost in September</a>

Wakefit.co announces 'No Questions Asked' wellness leave policy for staff

Zuckerberg-backed Ed-tech giant <keyword id="2900267" type="UNKNOWN" weightage="20" keywordseo="Byju">BYJU</keyword>’S, also one of India’s largest ed-tech company, has recently raised $30 million funding from <keyword id="2248588" type="UNKNOWN" weightage="20" keywordseo="Verlinvest">Verlinvest</keyword>, a large Belgian family-owned, consumer-focused, diversification <keyword id="6355120" type="ORGANIZATION" weightage="20" keywordseo="investment">investment</keyword> holding company. 
 
As many as 8 million students between classes 4-12 are learning from the BYJU’S app today. This new round will help boost BYJU’S international expansion and acquisition plans. 
 
Verlinvest has invested in India before as well - winemaker Sula Vineyards, speciality food maker Veeba Food Services Pvt. Ltd, Drums Food International Pvt. Ltd, the maker of Hokey Pokey ice-cream and Future Consumer Enterprise Ltd. 
 Frederic de Mevius, Chairman of the Board, Verlinvest said, “We are excited to join hands with <keyword id="1702989" type="PERSON" weightage="20" keywordseo="Byju-Raveendran">Byju Raveendran</keyword> on his inspiring journey to bring effective learning online. We believe online learning has great potential globally and the BYJU’S product addresses this with an innovative and compelling proposition. Verlinvest prides itself on being a daring investor in the consumer world and enabling entrepreneurs through inspiring journeys. Byju fits well within this vision.” 
 <keyword id="3274038" type="UNKNOWN" weightage="20" keywordseo="Nicholas-Cator">Nicholas Cator</keyword>, Executive Director, Verlinvest added, “We are very happy to partner with the talented team at BYJU’S to expand in India and abroad. A 1:1 learning experience is a dream ratio, and it is very encouraging to see that an Indian company has created a product which closely addresses this need by offering engaging and personalized learning experiences enabled by technology. We have seen a lot of edtech companies, but BYJU’S offers personalized learning to an extent which we haven’t seen in any product across the globe. We look forward to supporting the management team to expand to new markets and to further build the brand.” 
 
Meanwhile, this is what the man behind Byju's had to say. “Our partnership with Verlinvest will further boost our aspiration to change the way students learn across the globe. In the last 18 months, we have witnessed exponential growth in India. While these numbers are very exciting, there is a long way to go before we can call it a revolution. The fact that we are still reaching to less than 1% of the student population, shows the immense potential and the impact we can create. In fact, our teams are continuously working towards creating learning products that will enable our efforts to make learning more accessible, engaging and personalized for students,” said Byju Raveendran. 
 
Why investors are betting big on BYJU's 
 
From test prep classes to one of the most effective learning apps –brand BYJU’S is redefining learning by using technology as an enabler; in fact, all the products are completely made in-house. 
 
Offering personalized learning experiences based on pace and style of learning of every student through technology, BYJU’S is creating new learning experiences for students across grades. The learning app has seen a high annual renewal rate of 90%, which is a big validation of its effectiveness. 
 
Clearly, at a time when startups are shutting shops, Byju’s has been one of the few growth stage start-ups to have raised multiple rounds of funds - $75 million from Sequoia Capital and Belgian family office Sofina in March 2016. In September, Byju’s raised $50 million in a round led by Chan Zuckerberg Initiative, becoming the first Asian investment for the personal fund set up by Facebook Inc. founder Mark Zuckerberg and his wife Priscilla Chan. 
 
In December, the company raised another $15 million from World Bank arm International Finance Corp. 
 
Byju’s also raised an undisclosed amount in venture debt from InnoVen Capital. Besides, Lightspeed Venture Partners invested about $20 million in the firm earlier in 2016 in a secondary transaction which saw Aarin Capital partially selling its stake. This took the total capital infusion in Byju’s last year to at least $160 million. The company, founded by Byju Raveendran in November 2011, has so far raised close to $200 million in equity and debt funding since inception.

With another $30 million fresh funding, Mark Zuckerberg-backed Ed-Tech firm Byju's has global investors betting big on it. Here's why

PE and VC investors make a killing in the 2023 bull market

<ul><li>The Series A round was led by Verlinvest and Sequoia Capital India.</li><li>The company will use this funding to expand its distribution footprint and develop new products.</li><li><keyword id="3038719" type="PERSON" weightage="20" keywordseo="Heads-Up-For-Tails">Heads Up For Tails</keyword> is also looking to hire 100 more employees by the end of this year.</li></ul><keyword id="508786" type="ORGANIZATION" weightage="20" keywordseo="pet-care">Pet care</keyword> firm Heads Up For Tails has raised $37 million (about ₹277 crore) in a Series A funding round led by Verlinvest and Sequoia Capital India. Amitell Capital and existing investor W&amp;C PetTech also participated in the round. Heads Up For Tails, which is a retailer for pet products, plans to use this funding to increase its distribution footprint across India and accelerate new product development as well as manufacturing. It currently has distribution across Delhi-NCR, Bengaluru, Chennai, Hyderabad, Pune, Mumbai, Lucknow and Ludhiana. It also has manufacturing facilities and research and development (R&amp;D) facilities in Delhi and Bengaluru. A part of the funding would also be used to increase awareness among existing and new pet parents on the need for pet wellness and care through educational content and marketing activities. The company was founded by Rashi Sanon in 2008. The company currently has a team strength of 350 employees across marketing, product, brand, tech and manufacturing. It aims to increase their employee count to 450 by the end of 2021. Heads Up For Tails is also introducing a line of fresh pet food across the country and plans to expand its portfolio of 10 international brands such as Pet head, Isle of Dog and Wild Earth they represent in India. Sakshi Chopra, managing director (MD) of Sequoia India, highlighted that the Indian pet care market is valued at about $600 million and has been growing at over 20% compound annual growth rate (CAGR). SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/dailyhunt-josh-parent-verse-innovation-raises-over-450-million-doubles-valuation/articleshow/85262790.cms">Dailyhunt, Josh parent VerSe Innovation raises over $450 million, doubles valuation </a><a href="https://www.businessinsider.in/business/ecommerce/news/swiggy-reports-nearly-three-fold-increase-in-annual-revenue-in-neck-and-neck-race-with-zomato/articleshow/85233393.cms">Swiggy reports nearly three-fold increase in annual revenue, in neck and neck race with Zomato </a><a href="https://www.businessinsider.in/careers/news/lenskart-aims-to-hire-over-2000-employees-to-ramp-up-its-operations/articleshow/85235059.cms">Lenskart aims to hire over 2000 employees to ramp up its operations</a>

Pet care company Heads Up For Tails bags $37 million to expand its network

South Korean gaming giant <keyword id="10155974" type="General" weightage="20" keywordseo="krafton" source="Orion">Krafton</keyword> has pumped in $19.5 million in homegrown audio content platform <keyword id="8740043" type="General" weightage="20" keywordseo="kuku-fm" source="Orion">Kuku FM</keyword>, the startup announced on Thursday. With 6 million active paid users, Kuku FM said it will use the funds to drive expansion and strengthen its content. "We are confident about hitting 10 million active paid users by the end of this year and 50 million paid users by 2025," said Lal Chand Bisu, Co-founder and CEO, Kuku FM. The Series B round also saw participation from existing investors including 3one4 Capital, Vertex Ventures, and India Quotient, with Founder Bank Capital and Verlinvest joining as new investors. With this funding, Kuku FM has secured a total of $25 million since its inception in 2018. Offering content in five languages (Hindi, Marathi, Bengali, Tamil and Gujarati), Kuku FM hosts 150,000 hours of content across audiobooks, stories, book summaries, courses and podcasts on its platform. With 30,000 creators, 50 per cent of the content is exclusive to the platform and only available on Kuku FM. "We strongly believe that Indian IPs and regional Indian languages content growth will unlock next big monetisation opportunity not just in India but even globally in the long term," said Sean Hyunil Sohn, Head of India Division at Krafton. Krafton owns <keyword id="4998506" type="General" weightage="20" keywordseo="pubg" source="Orion">PUBG</keyword> Studios, Bluehole Studio, Striking Distance Studios, RisingWings, Dreamotion and Unknown Worlds. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/hul-future-retail-dr-reddys-bharti-airtel-among-stocks-to-watch-out-for-on-march-10/slidelist/90114443.cms">HUL, Future Retail, Dr Reddy’s, Bharti Airtel among stocks to watch out for on March 10</a> <a href="https://www.businessinsider.in/politics/elections/news/early-trends-bjp-leads-in-up-uttarakhand-manipur-aap-in-punjab-cong-in-goa/articleshow/90116215.cms" data-type="tilCustomLink">Early Trends: BJP leads in UP, Uttarakhand &amp; Manipur; AAP in Punjab; Cong in Goa</a> <a href="https://www.businessinsider.in/politics/india/news/uttarakhand-elections-2022-former-cm-harish-rawat-of-congress-leading-in-lal-kuan-seat/articleshow/90116045.cms">Uttarakhand elections 2022: Former CM Harish Rawat of Congress leading in Lal Kuan seat</a>

PUBG maker Krafton leads $19.5 million funding round in Indian audio content platform Kuku FM

Mumbai, Jan 13 () Global investor Goldman Sachs-backed online beauty and personal care platform Purplle.com on Monday said it has raised USD 8 million (around Rs 56 crore) from Belgium-based investment firm Verlinvest in series-C funding round.
 This new fundraising follows the USD 30 million capital infused by few investors including the US-based Goldman Sachs, IvyCap Ventures, Blume Ventures and JSW Ventures in December 2019.
 "The funding from Verlinvest will be utilised to further strengthen Purplle's supply chain, innovation and technology capabilities as well as for brand building," Purplle.com said in a statement.
 Verlinvest has over 1.6 billion euro of assets under management and its Indian portfolio includes brands such as BYJU'S, Sula Wines, Epigamia, Veeba Foods and Future Consumer.
 "This investment aligns with our intent of creating a sustainable multi-decade enterprise," Purplle.com co-founder and CEO Manish Taneja said.
 Launched in 2012, the company had raised USD 10 million over the past six years.
 Verlinvest India Head of Investments Arjun Anand said, "We believe consumer preferences are changing rapidly with online penetration in this space and Purplle has great momentum to delight Indian consumers."
 IndigoEdge acted as the exclusive financial advisor to Purplle.com in the fund raise, the release said. PSK HRS

Online personal care platform Purplle.com raises USD 8 million in funding

<ul><li><keyword id="7239876" type="LOCATION" weightage="20" keywordseo="WAKEFIT-CO">Wakefit.co</keyword>’s Rewind Song, ‘<keyword id="10512279" type="UNKNOWN" weightage="20" keywordseo="bhaad-mein-jaa-2020">Bhaad Mein Jaa 2020</keyword>’ Qawwali, becomes the new internet sensation. </li><li>The song is conceptualised by Spring Marketing Capital. </li></ul>As a tumultuous year comes to a close, the trials and tribulations of 2020 was encapsulated in a funny, witty and <keyword id="10512281" type="UNKNOWN" weightage="20" keywordseo="topical-video">topical video</keyword> by sleep and home solutions company, Wakefit.co. The video, which has amassed more than 1.6 million views across the internet in three days, came at an opportune time to wrap up the highs, the lows, the untoward surprises and the eventful twists of 2020 and resonates with what people went through during the year. <div type="Youtube" id="lAhMQwtwNxs" title="Bhaad Mein Jaa 2020 | Viral Song 2020 | Funny Qawwali by HomeTime" thumbUrl="https://i.ytimg.com/vi/lAhMQwtwNxs/mqdefault.jpg"></div> The video was a raging success among netizens, as it struck an instant chord with people whose lives have been turned upside down due to the pandemic and being cooped up at home. Using the hashtag, #BhaadMeinJaa2020, some claimed that it captured the emotions of the year aptly while others declared it was the best video of 2020. The video reached more than 13 million people across social media within three days. <keyword id="1639108" type="COMPANY" weightage="20" keywordseo="Chaitanya-Ramalingegowda">Chaitanya Ramalingegowda</keyword>, Director and Co-founder of Wakefit.co, said on the release and success of the video, “We really wanted to sum up 2020 on a lighter note and give people something to chuckle about after a grueling few months this year. We created an independent YouTube channel called Home Time and released this video, which is our way of bidding 2020 goodbye once and for all. At Wakefit.co, we believe in creating content that makes people smile while also bringing to light the need for sleep and home wellness. We are thrilled to have received such an overwhelming response for our video from netizens.” Wakefit.co recently raised Series B funding of INR 185 crores from Verlinvest and <keyword id="136147" type="COMPANY" weightage="20" keywordseo="Sequoia-Capital-India">Sequoia Capital India</keyword> and plans to bolster its expansion plans in the year to come. The company will also double down on its marketing wherewithal and continue to create content that adds value to the lives of its consumers.

'Bhaad Mein Jaa 2020', says Wakefit.co in its quirky wrap-up qawwali for 2020

<ul><li><keyword id="9107564" type="UNKNOWN" weightage="60" keywordseo="oatly">Oatly</keyword> has secured $200 million in investment from <keyword id="48032" type="CITY" weightage="60" keywordseo="Blackstone">Blackstone</keyword>, <keyword id="20412" type="COMPANY" weightage="60" keywordseo="Oprah">Oprah</keyword> Winfrey, <keyword id="16788" type="PERSON" weightage="60" keywordseo="Natalie-Portman">Natalie Portman</keyword>, ex-Starbucks CEO <keyword id="138858" type="PERSON" weightage="60" keywordseo="Howard-Schultz">Howard Schultz</keyword>, and Jay-Z's Roc Nation, <a href="https://www.wsj.com/articles/oat-milk-company-oatly-draws-investment-from-blackstone-led-group-including-oprah-11594701001">The Wall Street Journal reported on Tuesday</a>.</li><li>The Swedish oat-milk maker sold around 10% of its business in a funding round that valued the company at about $2 billion, The Journal said.</li><li>Oatly intends to use the funds to expand its supply network, sell a wider range of oat-based products in more locations, and possibly go public in the next 12 to 18 months.</li><li><a href="https://www.businessinsider.com/">Visit Business Insider's homepage for more stories</a>.</li></ul>Oatly has sold a $200 million stake in its business to investors including Blackstone, Oprah Winfrey, Natalie Portman, former Starbucks CEO Howard Schultz, and Jay-Z's Roc Nation, <a href="https://www.wsj.com/articles/oat-milk-company-oatly-draws-investment-from-blackstone-led-group-including-oprah-11594701001">The Wall Street Journal reported on Tuesday</a>.The investment round values the Swedish oat-milk maker at about $2 billion, The Journal said, citing people familiar with the matter. Oatly may use the funds as a launchpad to go public in the next 12 to 18 months, the newspaper reported."We chose to partner with Blackstone Growth because of their tremendous resources and unique reach," Oatly CEO Toni Petersson said in a statement, referring to the private-equity giant's growth unit."Our new partners' commitment to supporting us and furthering of our mission is a clear indication of where the world is heading, which is in a new, more sustainable direction."Read more: <a href="https://www.businessinsider.com/elon-musk-wealthier-than-warren-buffett-might-not-be-justified-2020-7">Elon Musk is now officially richer than Warren Buffett. Here's why that doesn't necessarily tell the full story of the billionaires' wealth.</a>Blackstone was the lead investor, meaning it will join Belgium-based Verlinvest and state-owned China Resources as some of Oatly's key backers."We have Asian owners and European owners and wanted to bring US owners into the company, too," Petersson told The Journal.Oatly approximately doubled its sales to $200 million last year, and expects a similar rate of growth this year, sources told The Journal. However, it has posted losses in the past few years due to growth investments, they added.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-20-firms-for-megatrend-gains-ubs-2020-7">UBS says buy these 18 diamond-in-the-rough stocks that will offer massive gains over multiple years, even as their underlying industries suffer</a>The company intends to use the latest cash injection to extend its supply networks in northern Europe, the US, and China, The Journal reported.It also plans to offer more of its oat-based products — including vegan versions of yoghurt, crème fraîche, and ice cream — in a wider array of locations, the newspaper said.

Oatly scores $2 billion valuation and backing from Blackstone, Oprah, and Natalie Portman, WSJ says

<ul><li>At 7:40 am, the SGX Nifty was up 0.48%, indicating a higher start for Nifty50.</li><li>Here's a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in green on Monday, led by positive cues from the Asian peers. At 7:40 am, the SGX Nifty was up 0.48%, indicating a higher start for Nifty50. Other Asian markets were also trading in the positive trajectory — the Shanghai Composite Index was up 0.43%, and Australian ASX was up 0.45%. These are the stocks to watch out for during the trading session today: Bank stocks will be in focus RBI panel’s recommendations will keep the banking sector in focus in trade today. The central bank’s Internal Working Group (IWG) <a href="https://www.businessinsider.in/finance/banks/news/rbi-panel-proposes-raising-promoter-stake-cap-allowing-nbfcs-to-become-banks-and-large-corporation-can-own-banks/articleshow/79323107.cms">has proposed 12 changes to ownership</a> guidelines and corporate structure for Indian private sector banks. Watch out for bank stocks and NBFCs in trade today. RIL and Future Retail The Competition Commission has approved Reliance's proposed acquisition of retail, wholesale, logistics and warehousing businesses of Future Group. The ₹24,713 crore deal that would boost Reliance Industries' fast-growing retail business was announced in August. Meanwhile, the legal tussle between e-commerce major Amazon, Future Group and Reliance regarding the deal is still in the court. The shares of Reliance Industries ended 4% lower on Friday. Whereas, Future Retail gained over 4%. HDFC Bank India's largest private sector lender <a href="https://www.businessinsider.in/tech/apps/news/hdfc-banks-net-banking-upi-services-and-atms-down-due-to-data-centre-outage/articleshow/79344484.cms">HDFC Bank's entir</a>e payment stack went down on November 21, leading to a temporary halt in its operations. The bank on November 22, however, informed that the services have been restored and said an unexpected outage at one of its data centres led to the transaction failures. The shares of HDFC Bank ended 2% higher on Friday. BEML BEML, a Bengaluru-based public sector undertaking, has bagged orders worth ₹501 crore from Delhi Metro Rail Corporation Limited (DMRC) for additional transfer of six cars, each to operate online 2Band 7 of the Mumbai Metro project. The shares of BEML ended flat on Friday. Bharti Airtel Bharti Airtel on Friday announced that it would acquire 5.2% stake in solar power company Avaada MHBuldhana for ₹4.55 crore in an all-cash deal. Avaada MHBuldhana is working to develop a captive generating solar power plant in Maharashtra, which will become operational by March 2021. The shares of Bharti Airtel ended over 3% higher on Friday. IIFL Securities The Board of IIFL Securities at its meeting held on November 20 has approved buyback of company's shares for an aggregate cash consideration of ₹90 crore, at a price not exceeding ₹54 per share. The shares of IIFL Securities ended nearly a percent lower on Friday. Punjab National Bank Reserve Bank of India has imposed a penalty of ₹1 crore on Punjab National Bank for violating regulatory guidelines. The shares of Punjab National Bank ended nearly a percent lower on Friday. Petronet LNG Petronet LNG has signed a non-binding MoU with the Ministry of Petroleum &amp; Natural Gas with an objective to foray into 'Green Energy and BioFuels' and for setting up of compressed BioGas plants under Sustainable Alternative Towards Affordable Transportation (SATAT) initiative of the Government. The shares of Petronet LNG ended 2% higher on Friday. Future Consumer The board of Future Consumer has allotted 4.95 crore shares to International Finance Corporation and 1.64 crore shares to Verlinvest SA, consequent to the conversion of compulsorily convertible debentures and outstanding coupons thereon. The shares of Future Consumer ended 4% higher on Friday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/amazon-pharmacy-is-going-to-be-the-first-big-test-of-public-trust-in-prime-and-will-expose-the-company-to-more-scrutiny/articleshow/79353327.cms">Amazon Pharmacy is going to be the first big test of public trust in Prime and will expose the company to more scrutiny</a> <a href="https://www.businessinsider.in/india/news/moderna-covid-19-vaccine-to-cost-govts-25-37-per-dose-ceo/articleshow/79353606.cms" data-type="tilCustomLink">Moderna Covid-19 vaccine to cost govts $25-$37 per dose: CEO</a>

Top stocks to watch — RIL, Future Retail, Kotak Mah Bank, Bajaj Finance, Ujjivan, Airtel, Future Consumer, HDFC, PNB, BEML, and others

<ul><li>India’s largest online tutoring startup Byju’s is expected to become 4th most valued startup in the country after Paytm, Ola Cabs and OYO Rooms. </li><li>The company’s valuation is expected to be raised to ₹254 billion ($3.5 billion) by the end of the funding round with the company adding $200-300 million to its portfolio. </li><li>The company has successfully got blue- chip investors including the private equity giant General Atlantic. </li></ul>India’s largest <keyword id="23248" type="PERSON" weightage="20" keywordseo="Online-learning">online learning</keyword> startup Byju’s (Think &amp; Learn Pvt Ltd) is all set to be the 4th most valued Indian startup. It’s in the middle of a new funding round that’s <a href="https://www.livemint.com/Companies/kNyn82lsWEVRP34pbxyRsK/Byjus-may-achieve-4th-rank-in-Indias-startups-class.html">expected to raise</a> ₹14.5 million to ₹ 22 million ($200-300 million) from new investors including General Atlantic, a private equity giant. The influx of new funds are expected to increase the company’s value to ₹245 billion ($3.5 billion) making it the fourth highest valued company in the league after digital payments company Paytm, cab service provider Ola and budget hotel chain OYO Rooms. Sources close to these developments have said that private equity has inflated the valuation of the start up to an amount higher than what was expected at first. The secondary valuation is expected to happen at a lower amount since the existing investors, such as Sequoia Capital, may release a certain part of its shares or consider exiting the company altogether. Last month, the edutech startup closed the funding round gushing <a href="https://entrackr.com/2018/10/byjus-4th-most-valued-indian-startup/">$100 million</a> with the valuation reaching $2 billion mark already. It looks like the overpowering interest of the investors in the startup has lead to a valuation higher than anticipated post the closing round. Byju’s story so far Byju’s has been one of the fastest growing tech <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> in India. The company raised around $30 million from Verlinvest followed by $40 million from Tencent Holdings Ltd in July 2017, as reported by<a href="https://www.livemint.com/Companies/kNyn82lsWEVRP34pbxyRsK/Byjus-may-achieve-4th-rank-in-Indias-startups-class.html"> Mint.</a> So far, the startup has exceeded the investor expectations with its growth trajectory. The company that was originally just an offline teaching centre in Bengaluru, slowly expanded its operations online with the launch of its first app in 2015. The tutoring startup also plans to come up with apps for younger students soon. The company also acquired Vidyartha, TutorVista and Edurite last year as a mark of its growth and is ready with its fourth acquisition Math Adventures this year. By the end of FY18, the <a href="https://www.livemint.com/Companies/kNyn82lsWEVRP34pbxyRsK/Byjus-may-achieve-4th-rank-in-Indias-startups-class.html">expectation</a> is that Byju’s is only going get more lucrative. The company also claimed to have exceeded ₹100 crore monthly revenue this June and is looking forward to reach a mark of ₹1400 crore as the overall revenue. Byju Raveendran, Chief Executive, communicated to the <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/edutech-startup-byjus-quietly-turns-a-unicorn-company/articleshow/63293773.cms">Economic Times</a> that it is the fourth consecutive year that the startup has crossed 100% growth. Currently, the startup has a user base of 15 billion which includes a segment of paid users seeking education through online platforms. (Photo credit: <a href="https://www.startupstories.in/">Startup Stories India</a>)

India’s largest online learning service is all set to become the 4th highest valued Indian startup with a ₹254 billion valuation

<a href="http://www.businessinsider.in/searchresult.cms?query=Kishore+Biyani">Kishore Biyani</a>, India's leading retailer and founder of <keyword id="44949" type="CITY" weightage="100" keywordseo="Future-group">Future Group</keyword>, is in negotiations to raise over Rs 300 crore from family offices for the <a href="http://www.businessinsider.in/searchresult.cms?query=FMCG+">FMCG</a> business - Future Consumer Enterprise, two people directly involved in the matter said. 
 Biyani, known to have introduced organised retail in India, is now aggressively focusing on growing the <keyword id="34523" type="CITY" weightage="100" keywordseo="fmcg">FMCG</keyword> business to drive the group's revenue and profits. The company counts two family offices — Belgium's family-owned consumer-sector focused investment company Verlinvest and Arisaig — as its investors. Verlinvest and Arisaig each own about 10% stake in Future Consumer Holdings. 
 The group's FMCG business drives on the back of extensive manufacturing and sourcing facilities and its own convenience store chain, <keyword id="6361669" type="CITY" weightage="100" keywordseo="Nilgiris">Nilgiris</keyword> and KB's. 
 
The company reported revenues of Rs 447 crore for the quarter ended September 2016, a growth of 52% over the same quarter last year. The annual sales for FCE is estimated at about Rs 2,500 crore. 
 
The company's flagship brands include Sunkist for beverages and jams, Tasty Treat for snacks, ketchups and savouries, Nilgiris for dairy and bakery products, and Golden Harvest offering staples and spices. 
 
The company has also launched a number of new brands including Desi Atta Company that offers flourbased mixes; Karmiq, a brand for olive, canola and rice bran oils; Veg Affair, offering frozen vegetables and fruits; and Kara for personal care and wipes. Over the next few months, the company will launch the Nilgiris' diary range in the northern markets. It will also introduce a range of dips, sauces and chutneys through the brand Sangi's Kitchen and launch a range of personal care products in joint venture with Mibelle, Switzerland's largest personal care company. Early this year in May, Future Consumer acquired consumer business of Grasim Industries, an <a href="http://www.businessinsider.in/searchresult.cms?query=Aditya+Birla">Aditya Birla Group</a> company, on a slump sale basis. 
 Indian family offices have become active investors in the recent past, with most such offices now investing either in companies through venture capital and <keyword id="139987" type="UNKNOWN" weightage="100" keywordseo="private-equity-fund">private equity fund</keyword> or by being angel and seed investors. 
 
Partnering directly with promoters is also another way of growing the family wealth for most of these high networth individuals. Some of the noteworthy family offices with active investments in companies include <a href="http://www.businessinsider.in/searchresult.cms?query=Azim+Premji">Azim Premji's</a> PremjiInvest and Narayan Murthy's Catamaran Investments. 
 
(Image credit: Economic Times)

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