EX-UNICORN Rivigo To Be Acquired at a MASSIVE Discount - Indian Startup News 135

Check out Dezerv website by clicking on the link - https://bit.ly/3QRCnb0

This week in Indian Startup News, Ex-unicorn Rivigo looking for Buyers at discounted price, Dezerv raises funding, Unacademy's Relevel shuffles 100 employees internally, ONDC to open for public from September.

00:00 Introduction
00:12 Ex-unicorn Rivigo looking for Buyers at discounted price
02:17 On the side
03:00 Bird's Eye Segment
04:33 Startup Spotlight
08:45 ShopX shuts down
09:40 Unacademy's Relevel shuffles 100 employees internally
11:03 ONDC to open for public from September

Ex-unicorn Rivigo looking for Buyers at discounted price: Logistics Unicorn Rivigo is facing some tough times right now as the company is not being able to raise any funds and they are considering the only solution left to them - being acquired at a much less valuation. Rivigo’s board has given green signal for this acquisition and according to an ET report, company is in early-stage talks with Flipkart’s logistics arm eKart and FirstCry for acquisition. (https://economictimes.indiatimes.com/tech/startups/troubled-logistics-tech-unicorn-rivigo-held-talks-with-flipkart-firstcry-for-a-sale/articleshow/93715606.cms)

Funding this week: This week at least 12 Indian startups raised more than $281 Million.
Fintech Sector - EarlySalary raised $97 Million
Device Management Startup Servify raised $65 Mn
F&B startups - Hector Beverages raised $50 Million

Startup Spotlight: dezerv was founded in 2021 by co founders who have 50+ years of collective experience in managing over INR 50,000 Cr. It is the next big step in dezerv.’s mission of making expert-led investing available to professionals using its unique Integrated Portfolio Approach (IPA) which is built on decades of iinvesting expertise and modern portfolio science

ShopX shuts down: ShopX, founded by Amit Sharma and Apoorva Jois in 2014, provided logistics and procurement support to kirana stores and other SME retailers. It offered assisted ecommerce solutions, including sourcing, supply chain and credit lines. It also provided digital services such as mobile and DTH recharge, bus and flight bookings, and utility bill payments.

Unacademy's Relevel shuffles 100 employees internally: At least 100 of employees who were working on Relevel, have been asked to interview for other roles in Unacademy. Among these, 15-20 employees have declined this offer as they claim that the company was overburdening those retained at Relevel.

ONDC to open for public from September: Currently ONDC is running on pilot in few Indian cities and right now ONDC officials are focussing on improving customer experience, building ONDC-compatible tools for small sellers and weeding out challenges within the network.

Subscribe to our Newsletter by clicking on the link - https://www.getrevue.co/profile/bwmillionaires

Follow Backstage with Millionaires to remain updated with our latest developments.

Twitter: https://twitter.com/bwmillionaires/
LinkedIn: https://www.linkedin.com/company/backstagewithmillionaires/
Instagram: https://www.instagram.com/backstagewithmillionaires/
Discord: https://discord.gg/XySGGhXKep

#startup #news #rivigo