A number of notable developments were witnessed this week in the world of startups. Direct-to-consumer (D2C) men’s grooming brand Menhood is set to go public. It will be listed on NSE Emerge. The initial public offering (IPO) will open on July 16 and close on July 19. A total of 25,95,200 equity shares issue is at Rs 10 each. The funds will be utilized in expanding product offerings and enhancing operational capabilities.
Simultaneously University Living has made a significant move. It has acquired a 51% stake in UK-based StudentTenant. The acquisition aims in improving its presence in the UK private student housing market. It has plans to add more than 10,000 beds and increase reach to 500,000 students as well as 1,000 landlords.
Anicut Capital has successfully raise Rs 300 crore to support companies at the Pre-IPO stage. The fresh capital is learned to benefit firms like Milky Mist, Ummeed Housing Finance and Ayurveda Experience. The total asset under management of the company now is more than Rs 3,000 crore.
Fintech startup Partior has raised more than $60 million in the Series B funding round led by Peak XV Partners. Some other notable investors were Valor Capital Group, Jump Trading Group, JP Morgan, Standard Chartered and Temasek.
Quick grocery delivery platform Zepto has promoted Devendra Meel to the role of Chief Business Officer. Meel is learned to be leading category management and strengthen brand partnerships. He will mainly focus on optimizing assortment, pricing, availability and growth. He was previously helping in scaling Zepto’s advertising business and developing Zepto Pass.
Japan’s SoftBank Group has lately purchased AI chipmaker Graphcore, which was once a competitor to Nvidia. Graphcore faced investment crisis and this led it to either downsize or shut operations in several countries. It may get the required resources to compete on a global scale with the acquisition.
