Inside Startup News E-Journal News | 12 Jan 2022

Startup News | 12 Jan 2022

Relevel to pivot to test products and NextLevel,

Gaurav Munjal tells employees.

 Gaurav Munjal on Tuesday, upskilling platform Relevel, which

previously helped job seekers qualify for various roles, will now
be undergoing a major pivot and will focus entirely on test
products and its new app, NextLevel."
 Launched in December last year, NextLevel competes with
professional networking platform Linkedin and aims to help
individuals be a part of a rating system and help them unlock
job opportunities.

 With the change in strategy, almost 80% of Relevel’s team will

be absorbed by other business verticals at the Unacademy www.insidestartupnews.com
Group, and remaining 20% (40 employees) will be laid off
because lack of available roles, Munjal said in his note.
 Startup News | 12 Jan 2022

Ashneer Grover has revealed his new startup, the Third Unicorn,
and has requested VC to refrain from involvement."

 Ashneer Grover gave a sneak peek into his latest venture - the
Third Unicorn - through LinkedIn on Monday.

 “We at Third Unicorn have been quietly and peacefully building

a market-shaking business. Bootstrapped. Without limelight.
And we are doing things differently. Very differently,” Grover
said in his post.

www.insidestartupnews.com
 Startup News | 12 Jan 2022

Arjun Mohan, CEO of UpGrad India, has resigned from

his position at the edtech startup."

 Upskilling unicorn upGrad’s chief executive Arjun Mohan has

resigned after a nearly three-year stint, underscoring growing
stress on edtech startups in a post-covid business environment
with reopening of educational institutions.

 Mohan steps down at a time when Indian edtech startups have

been struggling to raise capital at the same pace as they did in
2021, especially being impacted by a funding slowdown.

 Edtech funding in CY2021 hit a record high of $4.2 billion

across 310 rounds, much higher than the $2.3 billion raised www.insidestartupnews.com
across 220 rounds in CY2019. In CY22, the total capital infusion
into edtechs nearly halved to CY21, according to Tracxn data.
 Startup News | 12 Jan 2022

DPIIT organizes workshop on funds for startups

 The Department for Promotion of Industry and Internal Trade

(DPIIT) Secretary Anurag Jain chaired the workshop, which was
organised as part of the Startup India Innovation Week 2023,
which kickstarted here.
 The Startup India Innovation Week (January 10-16) is being
celebrated across the nation with several events to reach
ecosystem stakeholders and enablers for startups.
 Events were held in Hyderabad, Mumbai, Warangal and
Coimbatore. www.insidestartupnews.com
 Startup News | 12 Jan 2022

Reliance Retail to turn Metro stores into destination

retail outlets
 After acquiring Metro AG's India wholesale business, Reliance
Retail is planning to turn the stores into destination retail
outlets, The Economic Times reported. These stores will then
cater to both trade and consumers.

 Reliance Retail plans to sell groceries, value fashion and

electronics at these outlets. It also has plans to onboard these
stores on the JioMart shopping app, a senior industry executive
aware of the plans told the publication.
www.insidestartupnews.com
 Tech News | 12 Jan 2022

Google May Soon Allow Android Users to Transfer eSIM

Profile Easily, Convert Physical SIM to eSIM
 Google has just begun to distribute its Android 13 QPR2 Beta 2
release, providing Pixel fans with a preview of what all updates
may come in the March Feature Drop.
 This latest version contains code that indicates the major
quality-of-life advances for Android's eSIM experience, in
addition to 31 new emojis and a feature that allows you to
force-theme icons on your home screen.
 This latest version contains code that indicates the major
quality-of-life advances for Android's eSIM experience, in
www.insidestartupnews.com
addition to 31 new emojis and a feature that allows you to
force-theme icons on your home screen.
 Tech News | 12 Jan 2022

iPhone 15: All models may get Dynamic Island feature,

Type C charging ports - Details
 Apple is busy preparing for the launch of the iPhone 15 series.
The iPhone 15 series is expected to debut later this year and it
is expected to be loaded with some big hardware changes
 Dynamic Island is a pill-shaped cutout that can change shape
and size to display alerts and notifications.

 iPhone 15 Pro models can feature a titanium frame. Also apple

will ditch physical volume buttons and will go for haptic ones
this time.
 While some reports suggest that the iPhone 15 and the iPhone www.insidestartupnews.com
15 Plus will be based on the A16 Bionic processor, the higher-
end models are likely to use a newer A17 Bionic processor.
 Tech News | 12 Jan 2022

Jio True 5G Services Now Launched in Uttarakhand,

Rs. 650 Crore Invested for Standalone.
 Reliance Jio on Wednesday announced the launch of its True
5G services in Uttarakhand from Dehradun.

 On the occasion, Uttarakhand Chief Minister Pushkar Singh

Dhami in a video message congratulated Jio, the people of
Uttarakhand and the people of Dehradun in particular, at the
launch of Jio True 5G services.

 Standalone 5G uses the 5G New Radio (NR) access network

which is a set of standards that replaces the LTE network 4G
wireless communications standard. www.insidestartupnews.com
 Tech News | 12 Jan 2022

Microsoft's Next Foldable Device May Not Feature Dual

Screen, Could Get 180-Degree Hinge: Report
 Microsoft reportedly may have cancelled plans to work on
developing a dual-screen foldable Surface device.

 The company was said to be prototyping and experimenting

with hardware for over a year that was believed to be in
conjunction with a dual-screen foldable Surface device, tipped
to be the Surface Duo 3.

 he latest report, however, suggests that Microsoft may opt for

a more traditional "True" foldable design — with a single
screen and 180-degree hinge — for its next foldable Surface www.insidestartupnews.com
device.
 Finance News | 12 Jan 2022

Unicommerce posts Rs 59 Cr revenue in FY22,

profits grows 33%

 Unicommerce has emerged as one of the top players in the e-

commerce enablement SaaS space and the company further
cemented its position with decent growth in scale and profit
both during the last fiscal year.

 The company’s revenue from operations grew 47.5% to Rs 59

crore in FY22 against Rs 40 crore in FY21, as per its standalone
financial statement with the Registrar of Companies (RoC).

 The Gurugram-based company offers integrated e-commerce

enablement SaaS solutions covering order and inventory, www.insidestartupnews.com
return, and omnichannel management, among many others.
 Finance News | 12 Jan 2022

BrowserStack India’s profit grows 57% in FY22, revenue

crosses Rs 400 Cr

 Homegrown SaaS (software-as-a-service) company

BrowserStack has grown at a rapid clip which is apparent from
both its topline and bottomline — which expanded over two
folds in the previous two fiscal years.

 BrowserStack’s Indian entity (Browserstack Software Private

Limited) registered 59% growth in operating scale to Rs 418.4
crore during the fiscal year ending March 2022 in contrast to Rs
263.3 crore in FY21, according to its standalone annual
financial statement with the RoC.
www.insidestartupnews.com
 Finance News | 12 Jan 2022

Over 150 startups participate in DV8-G20-Digital

Innovation Alliance

 The event was organised by venture capital firm Dholakia

Ventures along with the Ministry of Electronics and
Information Technology (MeiTY).

 Dravya Dholakia, Founder, Dholakia Ventures, said, "Under

DV8, we intend to create a cohesive ecosystem to nurture
future leaders and entrepreneurs by providing a platform to
engage with experienced venture capitalists and network with
startup founders."

www.insidestartupnews.com
 Finance News | 12 Jan 2022

Google backs Indian agritech startup Cropin in its Rs 113

crore funding

 The funds will aid in expanding Cropin Cloud, the company's

intelligent agriculture cloud platform, to cater to the growing
demand for digitisation and predictive intelligence in the global
agriculture sector.
 By making farms and harvests traceable, predictable, and
sustainable, Cropin aims to transform how food is grown. We
are excited to partner with global technology innovators like
Google, which further validates our capabilities and solidifies
our position as a leader in the digitalisation of global www.insidestartupnews.com
agriculture," said Krishna Kumar, Co-Founder and CEO, Cropin.
 Finance News | 12 Jan 2022

Crypto startup funding falls to lowest level in almost

two years

 Crypto startups are facing a harrowing time attracting private

financiers after the collapse of digital-asset exchange FTX.
 Overall, VC firms invested $2.3 billion in crypto startups during
the quarter, a 75% drop from the same period the previous
year, according to PitchBook.
 "Investors are trying to see what’s going to happen next and
there isn’t a rush to deploy capital," Le said in an interview.
www.insidestartupnews.com
 Finance News | 12 Jan 2022

Ola To Shut Down Avail Finance App, Integrate It

With Ola Money
 Ola acquired Avail Finance in March 2022 for a reported $50
Mn, Ola Financial Services has stopped lending to customers
via Avail Finance. The move also comes as Ola has been losing
deadwood by shutting down verticals which are burning cash.
 The mobility startup's move comes when the digital lending
segment has come under scrutiny from the RBI
 Ola is working on a new lending service and the customers
would be able to access it via its apps
www.insidestartupnews.com
 Finance News | 12 Jan 2022

Crypto Exchange Coinbase to Close Most of Japan

Operations
 US-based cryptocurrency exchange Coinbase is closing the bulk
of its operations in Japan as part of a move to adjust
international investment amid a slump in the digital-asset
sector.
 The shift comes as the firm cuts 20 percent of its workforce
globally, the latest layoffs at the San Francisco-headquartered
firm.
 We've decided to wind down the majority of our operations in
Japan, which led to eliminating most of the roles in our Japan
entity,” Nana Murugesan, vice president www.insidestartupnews.com
 Finance News | 12 Jan 2022

Voyager gets initial approval for $1 bllion Binance deal

amid national security concerns

 Bankrupt crypto lender Voyager Digital received initial court

approval on Tuesday for a proposed $1 billion sale of its assets
to Binance.US, and said it will seek to expedite a U.S. national
security review of the deal.
 U.S. Bankruptcy Judge Michael Wiles in New York allowed
Voyager to enter into an asset purchase agreement with
Binance.US and to solicit creditor votes on the sale, which will
not become final until a future court hearing.

www.insidestartupnews.com
 Stock Markets | 12 Jan 2022

SENSEX | NIFTY 50 | TOP GAINERS | TOP LOSERS

Sensex Nifty 50 Top Gainers Top Losers

Company | Current | Gain % Company | Current | Loss %

59,958.03 17,858.20 SBI life | 1,315.70 | +1.98 Paytm | 5443.20 | -6.21

Ultra Tech | 7,153.35 | +1.87 Glade Pharma | 1,498.40 | -5.89

-147.47 (0.25%) -37.50 (0.21%)
Info Edge | 3,176.60 | +1.67 Naykaa | 149.80 | -3.42

Godrej Cons| 915.15 | +1.63 DIVI’s Labs | 3,305.30 | -3.11

HCL Tech | 1,071.65 | +1.60 Indian Oil | 81.60 | -2.33

Source : Groww www.insidestartupnews.com

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