Ecosystem Weekly | 29th Nov ’20

Bharti Group co-invests in SpaceX competitor OneWeb’s $1 Bn rescue deal
Satellite operator OneWeb has emerged from Chapter 11 bankruptcy protection with $1 Bn in equity investment from a consortium of the UK Government and India’s Bharti Enterprises, the new owners of the UK-based company.
Read More

CARS24 joins unicorn club after raising $200M in latest round
CARS24 Services, an online marketplace for used cars, became the latest startup to join India’s unicorn club after raising $200 million in its latest series E fundraising round led by Russia-born billionaire Yuri Milner’s DST Global
Read More

Startup News Snippets

M&A News

Market Pulse

• Mumbai-based app-based bus service Cityflo has raised $8 Mn in Series A funding led by Lightbox Ventures
• Gurugram-based digital logistics platform Shipsy has raised $6 Mn in funding co-led by Sequoia Capital India’s Surge and Info Edge
• Bengaluru-based co-living residential startup Olive Residencies has raised $5 Mn in funding led by Embassy Group
• Bengaluru-based employee insurance startup Plum has raised $4 Mn in funding led by Sequoia Capital India’s Surge and Tanglin Venture Partners
• New Delhi-based debt resolution startup Credgenics has raised $4 Mn in pre-Series A funding led by Accel Partners, DMI Alternatives fund and Titan Capital
• Mumbai-based Free and Open Source Enterprise Resource Planning ERP Next has raised $1 Mn in funding led by Rainmatter Capital