Good Morning,
It’s not even been three months into the year and India has already has 13 new unicorns.
SaaS mediatech startup Amagi raised $95 million in a round led by Accel, with participation from existing investors Norwest Venture Partners and Avataar Ventures.
Amagi offers creation, distribution, and monetisation of live, linear, and on-demand channels worldwide. The Bengaluru-based startup also announced a 108 percent year-on-year growth in revenues.
“This is a crucial juncture for our business as we look to hit a hyper-growth trajectory by creating a winning combination of goals, processes, team structures, and more," said Baskar Subramanian, CEO and Co-founder, Amagi.
With the fundraising, Amagi has now entered the coveted unicorn club — which boasts of startups including CredAvenue, Polygon, DealShare, Darwinbox, Livspace etc that entered this year.
Last year, India saw a record 44 startups crossing the billion-dollar valuation mark. But this record may break this year. According to a PwC report, over 50 Indian startups have the potential to enter the unicorn club in 2022.
The Interview
Watch Matter Founder and CEO Mohal Lalbhai explains how technology, innovation, and design have given them an edge to build customer-friendly EVs and energy storage solutions for the market.
Editor’s Pick: 100X Entrepreneur
One of India’s largest AI-based logistics aggregation platforms, Shiprocket enables delivery across 29,000 pin codes in India and 220 countries.
In this week’s 100X Entrepreneur Podcast, Saahil Goel, CEO and Co-founder of Shiprocket, shares his 10-year journey of building the startup, and reveals how the company manages to stay relevant. Read more.
Startup Spotlight
Exploring the Northeast via WhatsApp
Founded in August 2019 by travel enthusiast Ankit Chetry, Guwahati-based Nomadic Territories aims to bridge the gap between the northeastern states and mainland India by providing travellers with the right information, and making them feel safe and at home while they travel across Northeast India. Read more.
YS Design team
News & Updates
- Bengaluru-based fintech unicorn Razorpay on Wednesday announced its fifth acquisition of IZealiant Technologies, which provides payments technology solutions for banks, for an undisclosed amount.
- Fintech SaaS (software-as-a-service) startup Clear, earlier known as ClearTax, has acquired supply chain finance company Xpedize in a bid to strengthen its offering to SMEs and MSMEs.
- Last week, edtech unicorn BYJU'S announced an $800 million fundraise at a whopping $22 billion valuation. CEO Byju Raveendran led the round with $400 million of his own capital.
- Electric vehicle maker Ola Electric on Wednesday said it appointed Prabhakar Patil, former CEO of LG Chem Power, onto its company's board.
- Microsoft announced advancements in cloud innovations for healthcare and life sciences with the overall accessibility of Azure Health Data Services and updates to Microsoft Cloud for Healthcare.
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