Eloelo is probably a scam
Today raised $22m series B. No revenue. Video streaming app with Less than 1m daily users in india is valued over $100m... So every random person in india is worth over $100? Lol. Competition, Chingari, Rooter, both in trouble. Eloelo has worse engagement than both (I looked on data.ai) Definitely faking numbers to investors, why else would anyone invest.
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Curated from across
Indian Startups on
by UsefulTailor
Navi Technologies
Sharechat raises $16Mn in extended debt round. Also laid off 5% workforce.
I feel they would be raising for 4-5 months of runway at a time this way. Anybody knows?
The fundraise is an extension of its convertible debt round in which it has already raised $49 million from Tencent and existing investors s...
https://www.moneycontrol.com/news/business/sharechat-closes-16-million-fundraise-while-firing-up-to-5-of-workforce-12786137.html#google_vignette
News Discussion on
by qwerty_
Zepto
Zepto becomes India's 1st 2023 unicorn
The timing of Zeptos fundraise is significant given the slump in investments into growth- and late-stage startups on the one hand and the co...
https://m.economictimes.com/tech/funding/unicorn-drought-ends-as-zepto-raises-200-million-at-1-4-billion-valuation-from-stepstone-goodwater/articleshow/103053527.cms
Indian Startups on
by DingDong
Razorpay
Just in : BlackRock cuts Byju’s valuation by 95% to $1 billion 🌀
Sad state of Indian Edtech. Next would be Unacademy.
BlackRock has yet again cut the value of its holding in Byju's, slashing the implied valuation of the Indian startup to $1 billion from $22 ...
https://techcrunch.com/2024/01/11/blackrock-cuts-byjus-valuation-by-95-to-1-billion/