# S T A R T U P M O N K
Insurance technology startup Coverfox receives Rs. 40 crore funding in fresh Series C round

Mumbai-based online insurance brokerage platform Coverfox has recently received an INR 40 crore ($5.89 Mn) fresh round of capital from its existing investors. The investments have come over four months between March to June. Coverfox had last raised $ 22 million in a Series C funding round in February last year. At that time, the

Flipkart founder Sachin Bansal in talks to buy Essel Group’s mutual fund arm

Sachin Bansal, co-founder and former CEO of Indian e-commerce behemoth Flipkart is looking at a foray in the mutual funds space. Bansal's BAC Acquisitions is likely to acquire Zee-Group owned Essel Mutual Fund. Ankit Agrawal, a former banker and friend of Sachin Bansal, has been consulting mutual fund executives to finalize the details of the

Enterprise payments startup PayMate raises Series D from Japan’s Recruit, Visa and other investors

PayMate, a Mumbai-based startup that helps businesses automate and digitize their payments, is raising $25 million in a new Series D funding round from Recruit Strategic Partners, the VC arm of Japan’s Recruit Co. Ltd and  US-based financial firm Visa, its founder said, as it looks to expand its presence within India and in international

Ex-LinkedIn India Head’s Notion Labs raises $10 million

California-based enterprise SaaS startup Notion Labs has raised $10 million angel investment from a clutch of investors including Y Combinator's former partner Daniel Gross, Elad Gil, Felicis Ventures’ Aydin Senkut, Sherpalo Ventures’ Ram Shriram, First Round Capital’s Josh Kopelman, and former Stripe employee Lashy Groom. Notion Labs founding team includes Chris Prucha, Ivan Zhao, and Jessica

Ritesh Agarwal to triple stake in Oyo with $2 billion share buyback

Ritesh Agrawal, founder and CEO of OYO Hotels and Homes, is undertaking one of the most significant buybacks by an Indian entrepreneur and to increase his shareholding in the hospitality startup. The move is to have a $2.2 billion round of funding in the company, which includes primary and secondary purchase of shares in an

Koovs sees growth stagnate, even as it posts mere 6.8% jump in profits

Koovs, one of the most popular fashion e-commerce portals with an exclusive focus on India has manifested a stable financial growth in FY 2019. The company has shown stagnant growth, meaning, that there has not been any major records of revenues and losses that may crash the growth stage pattern. The figures have remained similar

Ebay laps up 5.5% stake in PayTM Mall at $ 3 billion valuation

US-based ecommerce behemoth, eBay is investing $165 million in PayTM Mall, the ecommerce arm of payments major PayTM. With this, the value of PayTM Mall has now risen to about $3 billion from $1.5-2 billion last year. As part of the agreement, some of eBay’s inventory will be made accessible on PayTM Mall. EBay has

Icertis becomes latest Indian unicorn after Azim Premji invests $115 million

Icertis, an Indo-US contract management software maker has emerged as the latest software-as-a-service (SaaS) unicorn, joining the likes of Freshworks and Druva in the coveted list.   Based out of Pune and Seattle, Icertis has raised $115 million (close to Rs 790 crore)  in a new financing round led by the US-based venture capital firm Greycroft and

ShopClues lays off 200 employees after efforts to find a buyer fail

E-commerce platform, ShopClues has laid off about 200 employees, even as it struggles to manage finances in a highly-competitive online shopping landscape in India. The online shopping website, once among the elite list of ‘unicorn’ startups in India, has made the move even as its efforts to find a buyer have failed. This is for

Ebix acquires Yatra for Rs 2,323.6 crore to create India’s largest travel company

Ebix Inc., the US-based online supplier of e-commerce and on-demand service software to healthcare, insurance, finance and e-learning industries has acquired Yatra. The India-based online travel agency said it has signed a consensus with Ebix where it will acquire Yatra through a merger, taking up an all stock deal of $337.8 million.  Each ordinary share

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CIN- U74999DL2019PTC347107