Weekly recap: June 21 - June 27
Hi folks! Anmol here today, with our weekly recap of the week's news and one in-depth story (from the paid newsletter). The last week has been quite interesting- EdTech companies raising money & acquiring companies, interesting inside stories about Paytm and their internal workings and also 👁️👄👁️
Flipkart is attempting 90 mins delivery: Flipkart is planning to launch hyperlocal delivery services next month, starting with a pilot in Bengaluru.
Unacademy acquires coding platform CodeChef: Unacademy announced the acquisition of CodeChef, an online platform for algorithm and coding. The acquisition is being seen as a move that will help the company launch a coding skills offering for school kids.
Milkbasket raises $5.5M: Hyperlocal delivery service Milkbasket has raised $5.5M in fresh funding led by Inflection Point Venture and participation from existing investors including Blume Ventures, Kalaari Capital, Mayfield India, Unilever Ventures and BeeNext.
Nestaway acquisition plans: Nestaway, the co-living company, has acquired StayAbode and plans to acquire 2-3 more companies as it plans expand capacity to 50k beds by March 2021.
Vedantu invests $2M in Instasolv: Instasolv (a doubt clearing platform) has raised $2M from the live online tutoring platform Vedantu, which also gives Vedantu the rights to acquire the startup.
BharatPe enters the PoS business: The QR-based payments company BharatPe is entering the Point of Sale business.
AngelList launches a cap table management product: AngelList announces their first India exclusive product, EquityList (more on this below).
Come Home & Build: With Donald Trump's decision to suspend the H-1B program (via an executive order), a lot of Indians working at US tech cos are worried & unhappy. And it sounds like some folks are seriously considering moving back to India.
AngelList has launched a product exclusively for the Indian market- EquityList. It helps founders & startups manage their cap tables, as well as manage their employee equity program. The product is quite similar to Carta's core service (which is used by a large portion of the SF Startup Industry).
Currently startups in India don't really have a great way of managing these complex breakdowns, and use a combination of Excel sheets, documents and lawyers to manage their cap tables.
As someone who has used Carta personally, it's honestly a breeze to use and I can't imagine how employees in India understand the equity they're entitled at to the companies they work at.
There is a definite lack of transparency when it comes to employee equity in India, and hopefully products like these helps to change that.
It also makes a bunch of sense that AngelList is offering the EquityList product for free, and given their penetration in the Indian startup world (for their other products), it seems like a no-brainer for companies to use the product.
It is yet to be seen what this product turns into, but I would presume they eventually build out services on the product that they charge companies for (like Carta does).
(If you’re a founder in India you should 💯% use EquityList to manage your cap table and employee equity program so head over to their website, schedule a call and let them know you found them on this newsletter)
Reads of the Week
If you enjoyed reading today's newsletter and would like to get more regular updates, subscribe to the daily WhatsApp newsletter 👇🏽