Women partners of Urban Company protest against ‘unfair work practices’: More than 100 women beauticians working with Urban Company went on protest against the startup due to ‘unfair work practices’. After hearing out their complaints against high commissions charged by the startup and high penalty for not completing their mandated 30 jobs, Urban Company has slashed their commissions to 25% for high ticket orders and reduced the penalty by half to Rs 1,500.
Zostel asks SEBI to suspend OYO’s IPO: After Oyo filed for IPO, Zostel has written to SEBI – requesting the regulator to stop their IPO. According to Zostel, since Oravel’s capital structure is not yet final, so Oravel’s filing of the DRHP under these circumstances is illegal.
BharatPe-Centrum gets small finance bank license from RBI: Four months back, BharatPe-Centrum consortium had received ‘in-principle’ approval from the Reserve Bank of India (RBI) to set up a small finance bank. Their joint venture has now been granted the final license by the RBI – this is the first time RBI has granted a banking license in the last six years.
Swiggy to test social commerce with Swiggy Bazaar: According to media reports, Swiggy is looking to enter the growing social commerce space with the launch of Swiggy Bazaar in the coming months – which is expected to pilot in Bengaluru and Gurugram.
MobiKwik’s IPO approved and becomes a unicorn: SEBI has approved MobiKwik’s Rs 1,900 crore IPO and the fintech startup also turned after their secondary funding round led by Mathew Cyriac (former Blackstone India head).
Unacademy’s Graphy acquires Spayee for $25 million: Unacademy’s Graphy has acquired a SaaS-based platform Spayee that allows creators to build and sell their online courses in a deal worth $25 million.
Bounce acquires Twenty Two Motors: Dockless scooter rental startup Bounce has acquired EV startup Twenty Two Motors – to enter the EV space. This acquisition will help Bounce to launch their own electric scooters – which are expected to launch by November.
CarDekho raises $250 million to become a unicorn: Online used car marketplace CarDekho has raised $250 million in a round led by LeapFrog Investments – making them a unicorn at a $1.2 billion valuation.
Hubilo raises $125 million: Virtual and hybrid events platform Hubilo has raised $125 million in a round led by Alkeon Capital.
Open raises $100 million: Open, a neobanking platform for SMEs and startups, has raised $100 million in a round led by Temasek to add more banking products to their portfolio and expand to global markets.
Fraazo raises $50 million: Fraazo, a D2C platform for fresh vegetables and fruits, has raised $50 million in a round led by WestBridge Capital to help them expand their business to new geographies
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