Author: Himanshu Sindhi
In a major shift within India’s edtech landscape, Unacademy co-founders Gaurav Munjal and Dr. Roman Saini are reportedly preparing to exit the company they built, to focus full-time on their new venture, AirLearn — a language learning app currently gaining traction in the U.S. market. This marks a rare instance where original co-founders of an Indian edtech unicorn are stepping away from day-to-day leadership to pursue a new startup journey. The third co-founder, Hemesh Singh, had already departed the company in June 2023. Key Developments at a Glance Leadership Restructuring As reported by The Economic Times: Financial Health of Unacademy…
The Competition Commission of India (CCI) has officially cleared a multi-layered acquisition deal involving Bengaluru-based Jumbotail Technologies and Solv, a B2B commerce platform run by Standard Chartered’s subsidiary SCRTIPL. This strategic merger is poised to create one of India’s most powerful entities in the B2B e-commerce ecosystem. Key Deal Highlights Deal Structure and Governance Audit Delays and Revenue Concerns According to a Financial Express report, the acquisition process faced temporary delays due to audit findings: Strategic Synergy: Why This Merger Matters The merger will create a robust, tech-enabled B2B commerce engine that covers a wide array of product categories and…
Walmart-owned Flipkart Internet—the marketplace division of the Indian e-commerce giant—has received $262 million (Rs 2,225 crore) in internal funding from its Singapore-based parent entity, marking its second major capital infusion in just two months. Key Highlights Strategic Moves Ahead of IPO Flipkart appears to be bolstering its financial backbone as it prepares for a potential IPO, expected to come with a valuation in the range of $60–$70 billion, according to media reports. Ownership and Valuation Snapshot According to startup data platform TheKredible: Current valuation of Flipkart: Approximately $36 billion Financial Performance (FY 2024) Flipkart has shown notable improvements in its…
Mumbai-based home services startup Snabbit has raised $19 million in a fresh funding round led by Lightspeed, with continued backing from existing investors Elevation Capital and Nexus Venture Partners. This latest round comes just four months after Snabbit’s $5.5 million Series A, positioning the company as one of the fastest-growing startups in the segment this year. Key Highlights What Snabbit Does Founded in 2024 by Aayush Agarwal, former Chief of Staff at Zepto, Snabbit connects households with trained professionals for on-demand home services. Key offerings include: Customers can book professionals via the Snabbit platform, and they arrive within 10 minutes—offering…
Wipro, one of India’s largest IT and business process services companies, has closed down its manufacturing facility in Baddi, Himachal Pradesh, resulting in the layoff of approximately 80 employees. The move is part of a larger operational and strategic restructuring aimed at streamlining operations and reinforcing the company’s focus on high-growth, digital-first business areas. While the company did not issue a public announcement initially, the development was confirmed by internal sources and later acknowledged by a company spokesperson. “As part of our ongoing business optimization strategy, we have made the difficult decision to close our Baddi facility. We are working…