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Startup News Of The Week: 18-24 June 2018

| Published on June 25, 2018

1. Swiggy raises $210 million, becomes unicorn startup

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Food delivery startup Swiggy has raised $210 million in Series G round of funding from Naspers, DST Global, Coatue Management and Meituan-Dianping and it’s valuation has reached $1.3 billion, making it India’s 12th unicorn startup after Flipkart, Paytm, Ola Cabs and others.

2. Virgin Hyperloop One to invest Rs 3,000 crore for test track in Pune

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Virgin Hyperloop One will invest Rs 3,000 crore to build a 15-km-long Hyperloop demonstration track in Pune for the Mumbai-Pune Hyperloop project. Kiran Gitte, Pune’s development commissioner said the project will come up between Wakad and the Gahunje Stadium. This will reduce the time between Mumbai and Pune to 25 minutes.

3. Meditation app Calm raises $27 million at $250 million valuation

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Founded in 2012, Meditation startup Calm, has raised $27 million in a Series A funding round. The funding round was led by Insight Venture Partners with participation from Ashton Kutcher’s Sound Ventures and singer Harry Styles.

4. Two Indian startups among WEF’s most promising tech pioneers

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Ahmedabad-based startup My Crop Technologies & Delhi-based data startup SocialCops have been selected among the world’s 61 most promising Technology Pioneers in 2018 by the World Economic Forum. Founded in 2013, SocialCops has driven village development schemes, while My Crop, founded in 2016, helps farmers.

5. Google to invest $550 million in JD.com

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Google is investing $550 million in Alibaba rival JD.com. In a announcement, the companies said they would collaborate with Google’s Shopping platform for retail solutions in Europe, the US, and Southeast Asia. Investors of JD.com include names like Tiger Global Management and Capital Today as its investors

6. Girnar Tea acusses of BigBasket over trademark

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Tea company Girnar Food and Beverages has moved High Court against retailer BigBasket for infringing its ‘Royal’ trademark. Girnar has alleged that the BigBasket is using their trademark to sell several products including tea.

7. Bengaluru-based RentSher raised $1.1 million

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Bengaluru-based online product rental startup RentSher raised $1.1 million funding from Shorooq Investments and Latitude Consultants. RentSher plans to use the funding towards making a global tech platform that supports customers as well as business partners.

8. Mumbai-based startup led by Sanjeev Kapoor raised Rs 70 crores

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Mumbai-based startup Wonderchef which is led by celebrity chef Sanjeev Kapoor raised $10.2 million from Amicus Capital at a valuation of $102.6 million. Wonderchef plans to use the funds in brand building and expanding manufacturing and warehousing capabilities.

9. Cleartrip acquires Saudi Arabia’s largest online travel aggregator- Flyin for Rs 340 crore

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At an estimated price of $50 million, Cleartrip has acquired Fllyin.com to get a wider outreach, larger client base in the Middle East and North Africa (MENA) region. MENA is seen as region with tech-savvy consumers and has the highest level of smartphone and Internet penetration in the world.

10. Bengaluru-based Wicked Ride raised Rs 62 crore

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Bengaluru-based bike rental platform Wicked Ride has raised Rs 62 crore in a funding round led by VC firms Sequoia Capital and Accel Partners. Wicked Ride offers keyless bikes with OTP access at metro stations across several cities.

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