Ashneer Grover Vs BharatPe Saga | Ather Energy To Launch New Electric Scooter | Three New Unicorns

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This week in Indian startup news, BharatPe vs Ashneer Grover controversy, Navi Technologies planning an IPO, Ather Energy planning to launch new electric scooter, and Razorpay’s first international acquisition.

In funding news, ElasticRun raises $300 million to become a unicorn, Livspace raises $180 million to become a unicorn, Xpressbees raises $300 million to become a unicorn, Airmeet raises $35 million, Mintifi raises $40 million, Xto10X raises $25 million, Bugworks Research raises $18 million, Karbon Card raises $15 million, and Sprinto raises $10 million.

00:00 Introduction
00:31 BharatPe vs Ashneer Grover controversy
01:51 Ather Energy planning to launch new electric scooter
02:58 Navi Technologies planning an IPO
04:14 Razorpay’s first international acquisition
04:44 Sponsor shoutout
06:48 ElasticRun raises $300 million to become a unicorn
08:08 Livspace raises $180 million to become a unicorn
08:52 Xpressbees raises $300 million to become a unicorn
09:54 Airmeet raises $35 million
10:30 Mintifi raises $40 million
11:11 Xto10X raises $25 million
11:29 Bugworks Research raises $18 million
10:40 Karbon Card raises $15 million
10:49 Sprinto raises $10 million
10:56 Quick Funding updates

BharatPe vs Ashneer Grover controversy: BharatPe has hired PwC to audit their books and there are already reports of financial fraud. Ashneer Grover on the other hand has denied all the allegations from the leaked audio clip to financial fraud. He now is asking the board to either pay him ₹4,000 crore for his 9.5% stake in the company if they want him gone or let him run the company.

Navi Technologies planning an IPO: Sachin Bansal’s latest fintech and insutech venture Navi Technologies is gearing up for an IPO within four years of its launch. Navi Technologies provides loans and insurance to their customers and they’ve also launched their own mutual fund to offer more investment opportunities to their customers.

Ather Energy planning to launch new electric scooter: While Ola continues to face production delays, their rival Ather Energy is gearing up to up the ante as they plan to launch a new variant of their electric scooter with a bigger battery with longer range within the next six months. Ather’s new electric scooter is expected to have a 110-115 km range – which could give Ola a run for their money.
Razorpay’s first international acquisition: Indian fintech giant Razorpay has acquired a majority stake in Curlec, a Malaysian recurring payments solution for businesses - marking their first international acquisition.

ElasticRun raises $300 million to become a unicorn: Pune-based B2B e-commerce startup ElasticRun has raised $300 million in a round led by Softbank Vision Fund 2 at a $1.5 billion valuation – making them a unicorn.

Livspace raises $180 million to become a unicorn: Home decor and renovation platform Livspace has raised $180 million in a round led by KKR at a $1.2 billion valuation – making them a unicorn.

Xpressbees raises $300 million to become a unicorn: Pune-based logistics service provider Xpressbees has raised $300 million in a round led by Blackstone Growth, TPG Growth, ChrysCapital at a $1.2 billion valuation – making them India’s 8th unicorn of 2022.

Airmeet raises $35 million: Virtual events platform Airmeet has raised $35 million in a round led by Prosus Ventures and Sistema Asia Fun.

Mintifi raises $40 million: B2B lending startup Mintifi has raised $40 million in a round led by Norwest Venture Partners and Elevation Capital.

Xto10X raises $25 million: Binny Bansal’s scaling platform for startups Xto10X has raised $25 million in a round led by Binny Bansal himself.

Bugworks Research raises $18 million: A clinical-stage biopharmaceutical startup Bugworks Research has raised $18 million in a round led by Lightrock India to support the development of its broad spectrum antibacterial agent.

Karbon Card raises $15 million: Karbon Card, which offers corporate cards to businesses and startups, has raised $15 million in a round led by Olive Tree Capital, Harmony, AvenirGrowth Capital.

Sprinto raises $10 million: SaaS-based compliance automation startup Sprinto has raised $10 million in a round led by Elevation Capital to open their first office in the US.

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