Indian Startup News Ep 50: Tata Goes Airline Shopping, Juspay Data Breach & Nykaa IPO

This week in Indian Startup News, Tata’s growing stake in India’s aviation industry, Juspay data breach, WhiteHat Jr vs Pradeep Poonia, Nykaa IPO, WestBridge Capital’s 45X return from the exit of Nazara Technologies and Smaaash reopens.

In funding news, Udaan raises $280 million, Boat raises $100 million and Bira 91 raises $30 million.

00:00 Introduction
00:32 Tata’s growing stake in India’s aviation industry
02:24 Juspay data breach
03:53 WhiteHat Jr vs Pradeep Poonia
06:50 Nykaa IPO
07:24 WestBridge Capital’s 45X return from the exit of Nazara Technologies
08:00 Smaaash reopens
08:33 Udaan raises $280 million
09:30 Boat raises $100 million
10:24 Bira 91 raises $30 million

Tata’s growing stake in India’s aviation industry: Indian conglomerate Tata Group is now looking to acquire a bigger stake in the country’s fledgeling aviation business. Earlier in December, Tata Sons had raised its stake in AirAsia to 83.67% after acquiring a 32.67% stake from AirAsia Berhad for $37.6 million (Rs 276 crore). Also in December, Tata Sons also filed an expression of interest to acquire a stake in Air India. Adding to that, Tata already has a 51% stake in Vistara. If they manage to acquire Air India, Tata could end up owning almost 25% market share in India’s commercial aviation business.
https://www.livemint.com/companies/news/tatas-set-up-team-to-plot-flight-path-for-aviation-biz-11609895715885.html

Juspay data breach: Another Indian startup faces a cyber attack. This time, Juspay, which is a digital payment processing platform, saw its system’s security breached which led to a massive data breach. According to some reports, data of as many as 100 million (10 crore) users was breached but the company claims the number to be at 35 million (3.5 crore). Also according to the company, the data breach included masked card and fingerprints which is a non-sensitive data.
https://juspayproducts.medium.com/your-security-is-our-first-concern-8d98c96e5f17

WhiteHat Jr vs Pradeep Poonia case update: On 6th January 2021, the defamation case filed by WhiteHat Jr against Pradeep Poonia was heard in the Delhi High Court. Pradeep has requested documents from ASCI and from National Consumer Helpline, along with records of Wolf Gupta/Ryan Venkat ads from Facebook and Instagram and the take-down info from Twitter and YouTube. However, the hearing is postponed to 1st February due to server issues.
https://www.linkedin.com/posts/pradeep-poonia-07246385_whitehatjr-whitehatjrscam-byjusbubble-activity-6752487782616236032-wHA6/

Nykaa IPO: Omnichannel beauty retailer Nykaa is planning to launch its Initial Public Offering (IPO) this year. The IPO could value the company at $3 billion and Nykaa is looking to list in India but overseas listing is also under consideration.
https://www.bloomberg.com/news/articles/2021-01-05/tpg-backed-beauty-startup-said-to-plan-ipo-at-3-billion-value

WestBridge Capital’s 45X return from the exit of Nazara Technologies: WestBridge Capital has sold its stake in Indian mobile gaming giant Nazara Technologies to Plutus Wealth Management for Rs 500 crore ($68 million). This has resulted in WestBridge Capital exiting from Nazara Technologies and making a handsome return of 45X over its investment of Rs 22.5 crore ($3 million), raking in Rs 1,000 crore ($136 million).
https://economictimes.indiatimes.com/tech/startups/plutus-buys-rs-500-crore-nazara-technologies-shares-ahead-of-ipo/articleshow/80113784.cms

Smaaash reopens: Smaaash's founder has announced that Smaaash has already opened up in a number of cities already and is in the process of opening back up in Delhi, Gurugram and Hyderabad as well.
https://www.linkedin.com/feed/update/urn:li:activity:6750025207550930944/

Udaan raises $280 million: Indian B2B e-commerce unicorn Udaan has raised $280 million (Rs 2,048 crore) from Octahedron Capital, Moonstone Capital, Lightspeed Venture Partners, GGV Capital, Altimeter Capital, Tencent and partners of DST Global.
https://techcrunch.com/2021/01/06/indian-b2b-e-commerce-startup-udaan-raises-280-million/

Boat raises $100 million: Consumer electronics and lifestyle brand Boat has raised $100 million (Rs 731 crore) from Warburg Pincus at a valuation of $300 million (Rs 2,194 crore).
https://techcrunch.com/2021/01/05/indian-electronics-and-lifestyle-brand-boat-raises-100-million-from-warburg-pincus/

Bira 91 raises $30 million: Craft beer brand Bira 91 has raised $30 million (Rs 219 crore) from Japanese beverages company Kirin Holdings.
https://www.ft.com/content/1ffb46dc-a2fe-415c-bd0e-3e7622cc275e

Follow Backstage with Millionaires to remain updated with our latest developments.
BwM Hindi Channel: https://www.youtube.com/channel/UCMspFCCJpRkaiiHFetgauPQ
LinkedIn: https://www.linkedin.com/company/backstagewithmillionaires/
Twitter: https://twitter.com/bwmillionaires/
Instagram: https://www.instagram.com/backstagewithmillionaires/
Discord: https://discord.gg/XySGGhXKep
#startupnews #backstagewithmillionaires #bwm