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After admitting to financial irregularities, GoMechanic founder Amit Bhasin said that the company will seek "capital solutions" and that the co-founders take 'full responsibility' for the current situation.

GoMechanic founder admits to financial lapses, 700 fired

After admitting to financial irregularities, GoMechanic founder Amit Bhasin said that the company will seek "capital solutions" and that the co-founders take 'full responsibility' for the current situation.

GoMechanic, a car repair startup, has announced that they will be laying off around 70% of their workforce due to financial errors. The Sequoia-backed company admitted to grave errors in judgment and financial reporting, which led to the discontinuation of a funding round led by SoftBank and Khazanah Nasional.
Taking responsibility, Founder Amit Bhasin, in a post on LinkedIn, said, ''We take full responsibility for this current situation and unanimously have decided to restructure the business while we look for capital solutions. This restructuring is going to be painful and we will unfortunately need to let go of approximately 70% of the workforce."&nbsp;
Bhasin goes on to say "we made errors in judgment as we followed growth at all costs, including in regard to financial reporting, which we deeply regret."
The company has also decided to have their accounts audited by a third party.&nbsp;
Gurugram-headquartered GoMechanic, offers services such as repairing and carwashing. As per reports, the company was struggling to raise funds for over a year despite talks with several investors reaching advanced stages.&nbsp; &nbsp;

Pet care company, Heads Up For Tails (HUFT) has raised Rs 277 crore ($37 million) in a Series A funding round led by Verlinvest and Sequoia Capital India, along with participations from Amitell Capital and existing investor W&amp;C PetTech. &nbsp;&nbsp;
Heads Up For Tails, one of the pioneers in premium pet care since 2008, plans to use the fresh funds to increase distribution footprint across India, product development and manufacturing. &nbsp; &nbsp;
Founded by Rashi Sanon, the company&nbsp;has introduced over 100 products in the category. Heads Up For Tails offers products ranging from human-grade, preservative-free treats to novelty items like orthopedic beds and organic supplements.&nbsp;
The company&nbsp;also aims to increase awareness among existing and new pet parents on the need for pet wellness and care.
&nbsp;

Startup Digest: Pet care brand Heads Up For Tails raises ₹277 cr in funding

Pet care brand and&nbsp;pioneer, Heads Up For Tails ha lapped up&nbsp; ₹37 million dollars in fund raising from Sequoia Capital and others. Click here to see why this investment is such a pet projects for investors.&nbsp;

Pet care brand Heads Up For Tails raises ₹277 cr in funding

Pet care brand Heads Up For Tails raises ₹277 crores in funding
Company plans to use funds to increase distribution footprint across India
Petcare retailer offers&nbsp;pet grooming, spas and pet wellness services

The company plans to use the fresh funds to increase distribution footprint across India, product development and manufacturing.&nbsp;

Pet care company Heads Up For Tails (HUFT) is lapping up a hefty fund raising coming their way. The pioneer pet care comoany has raised&nbsp;$37 million (₹277 crore)&nbsp;in a Series A funding round led by Verlinvest and Sequoia Capital India, along with participation&nbsp;from Amitell Capital and existing investor W&amp;C PetTech. &nbsp;&nbsp;&nbsp; &nbsp;
Founded by Rashi Sanon&nbsp;in 2008, the company has a distribution network across Delhi NCR, Bengaluru, Chennai, Hyderabad which offer pet products and services, including spa for animals. The pet brand witnessed an outstanding year with revenue growth of more than 80 per cent in the&nbsp;pandemic. Heads Up For Tails plans to use the fresh funds to increase distribution footprint across India, product development and manufacturing.&nbsp;
Also read:&nbsp;<a title="https://www.editorji.com/story/startup-digest-makemytrip-checks-out-of-ixigo-after-making-over-30-million-1628741979149" href="https://www.editorji.com/story/startup-digest-makemytrip-checks-out-of-ixigo-after-making-over-30-million-1628741979149">Makemytrip checks out of ixigo after making over $30 million</a> Reports state that Sequoia expects India&rsquo;s pet care market which is valued at $600 million&nbsp;is likely to grow multifold over the next decade

Online payment startup, BharatPe&nbsp;has become India's latest unicorn club&nbsp;after it raised $370 million in a fresh funding round led by Tiger Global Management, taking its total valuation to $2.85 billion.&nbsp;
The company in its statement said&nbsp;Dragoneer Investor Group and Steadfast Capital also participated in the new round, which brings the startup&rsquo;s to-date raise to over $580 million against equity.
The New Delhi based had raised $108 million in February this year at a valuation of $900 million.
The fundraising, which pushes BharatPe into the ​unicorn club, gives the fintech startup capital as it takes over distressed lender PMC Bank with Centrum Financial Services to create a small finance bank
BharatPe is the 18th startup to have achieved the unicorn status in 2021 and fifth fintech startup to cross the $1 Bn valuation mark this year, following the entry of Digit Insurance, Cred, Groww and Zeta in the unicorn club.&nbsp;

BharatPe enters unicorn club, Triples valuation to $2.8 bn with Tiger Global fund raising

BharatPe&nbsp;triples valuations to $2.8 bn as the bets on digital payments get louder.&nbsp;

BharatPe enters unicorn club after raising $370 mn funding from Tiger Global

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Payments startup raises $370 million as part of a Series E funding round led by Tiger Global
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Online payment startup, BharatPe&nbsp;has become India's latest unicorn club&nbsp;after it raised $370 million in a fresh funding round led by Tiger Global Management, taking its total valuation to $2.85 billion.&nbsp;
The New Delhi based digital payment merchant had raised $108 million in February this year at a valuation of $900 million.
The fundraising, which pushes BharatPe into the ​unicorn club, gives the fintech startup capital as it takes over distressed lender PMC Bank with Centrum Financial Services to create a small finance bank
BharatPe is the 19th startup to have achieved unicorn status in 2021 and fifth fintech startup to cross the $1 bn valuation mark this year. Read/Watch Also: <a href="https://www.edtr.ai/a16d">Why WazirX is not betting on crypto as a digital payment asset</a>

Softbank&nbsp;backed OYO&nbsp;rooms is looking to raise $600 million to bolster balance sheet and service older loans as per reports.Third among India&rsquo;s most valuable startups&nbsp;at $10 billion, OYO&nbsp;has been facing balance sheet concerns even before the pandemic started. For FY'20 the 8 year old start up&nbsp; saw net losses ballooning to $335 million. This issue has only intensified with the pandemic&nbsp;and extended localised lockdowns.&nbsp;
JPMorgan Chase is said to be arranging the deal as OYO&nbsp;becomes the&nbsp;first Indian unicorn to seek debt from foreign institutional investors.

Pandemic pain for OYO, looks to raise $600 million 

Pandemic pain pushes India's third largest start up&nbsp;OYO to hunt for cash as it looks to raise $600 million as losses balloon.&nbsp;

Pandemic pain for OYO, looks to raise $600 million - DO not take

Softbank&nbsp;backed OYO&nbsp;rooms is looking to raise $600 million to bolster balance sheet and service older loans as per reports. Third among India&rsquo;s most valuable startups&nbsp;at $10 billion, OYO&nbsp;has been facing balance sheet concerns even before the pandemic started. For FY'20 the 8 year old start up&nbsp; saw net losses ballooning to $335 million. This issue has only intensified with the pandemic&nbsp;and extended localised lockdowns.&nbsp;
JPMorgan Chase is said to be arranging the deal as OYO&nbsp;becomes the&nbsp;first Indian unicorn to seek debt from foreign institutional investors.

Reports indicate that Walmart&nbsp;backed e-tailer&nbsp;Flipkart is in talks with investors to raise over $1 billion even as it plans a US listing.&nbsp;
Economic Times reports JPMorgan and Goldman Sachs are advisors in the fundraiser that are exploring options with many&nbsp;sovereign wealth funds, technology-focussed financial groups and even pension funds.&nbsp;
As per available data&nbsp;Walmart invested $1.2 billion in Flipkart in July 2020 at a $24.56 billion valuation, experts see this round of fund raising to value Flipkart&nbsp;at $28-30 billion.&nbsp;

Flipkart shops for investors, looking to raise $1 billion

Reports indicate that Walmart&nbsp;backed e-tailer&nbsp;Flipkart is in talks with investors to raise over $1 billion even as it plans a US listing.&nbsp;

<ul>
<li>Flipkart&nbsp;looking to raise $1 billion from fresh investors&nbsp;</li>
<li>JPMorgan, Goldman advisors on fund raising for Flipkart</li>
<li>Flipkart&nbsp;may seek $28-30 billion valuation in fund raising&nbsp;</li>
<li>Walmart invested $1 bn in July 2020 to raise stake in Flipkart</li>
</ul>

Reports indicate that Walmart&nbsp;backed e-tailer&nbsp;Flipkart is in talks with investors to raise over $1 billion even as it plans a US listing.&nbsp;
Economic Times reports JPMorgan and Goldman Sachs are advisors in the fundraiser that are exploring options with many&nbsp;sovereign wealth funds, technology-focussed financial groups and even pension funds.&nbsp;
As per available data&nbsp;Walmart invested $1.2 billion in Flipkart in July 2020 at a $24.56 billion valuation, experts see this round of fund raising to value Flipkart&nbsp;at $28-30 billion.&nbsp;

There is nothing stopping&nbsp;online-education startup Byju&rsquo;s&nbsp;which is now reportedly raising $1 billion from facebook co-founder&nbsp;Eduardo Saverin's&nbsp;B Capital. Bloomberg&nbsp;reports the current fundraising&nbsp;values Byju's&nbsp;at $15 billion.Silver Lake Management,&nbsp;Owl Ventures&nbsp;and&nbsp;T Rowe Price all existing investors will also join into this round of fund raising as well.&nbsp;Byju's&nbsp;is India's&nbsp;second most valued startup&nbsp;after PayTM.

Byju’s billion dollar boost from Facebook co-founder among other

There is nothing stopping&nbsp;online-education startup Byju&rsquo;s&nbsp;which is now reportedly raising $1 billion from facebook co-founder&nbsp;Eduardo Saverin's&nbsp;B Capital

<ul>
<li>Byju's close to raising $1 billion: Bloomberg&nbsp;sources&nbsp;</li>
<li>Facebook co-founder&nbsp;Eduardo Saverin&nbsp;backed&nbsp;B Capital to invest in Byju's</li>
<li>Latest fund raising likely to value Byju's&nbsp;at $15 billion&nbsp;</li>
<li>Byju's&nbsp;is India's&nbsp;second most valued startup&nbsp;after PayTM.</li>
</ul>

There is nothing stopping&nbsp;online-education startup Byju&rsquo;s&nbsp;which is now reportedly raising $1 billion from facebook co-founder&nbsp;Eduardo Saverin's&nbsp;B Capital. Bloomberg&nbsp;reports the current fundraising&nbsp;values Byju's&nbsp;at $15 billion. Silver Lake Management,&nbsp;Owl Ventures&nbsp;and&nbsp;T Rowe Price all existing investors will also join into this round of fund raising as well.&nbsp; Byju's&nbsp;is India's&nbsp;second most valued startup&nbsp;after PayTM.

Reports indicate the food delivery unicorn Zomato is eyeing a $ 1 bn IPO as early as June. Zomato had recently raised $250 million&nbsp;pushing&nbsp;its&nbsp;valuation to $5.4 billion.&nbsp;&nbsp;
Falguni Nayar led cosmetic-tech&nbsp;app that took under 8 years to become a&nbsp;billion-dollar&nbsp;company is also close to a second round of fund raising. Reports indicate this round will lead to the company&nbsp;doubling&nbsp;its&nbsp;valuation to $ 2 bn.&nbsp;&nbsp;
Policy Bazaar&nbsp;has also raised $45 million a recent funding spree as per reports which is now valuing the Bengaluru based insurance&nbsp;aggregator&nbsp;at $2.4 billion.&nbsp;&nbsp;

Start Up Unicorns see fund raising spree, see billion dollar IPOs

Reports indicate the food delivery unicorn Zomato is eyeing a $ 1 bn IPO as early as June. Zomato had recently raised $250 million&nbsp;pushing&nbsp;its&nbsp;valuation to $5.4 billion.&nbsp;&nbsp;
 Falguni Nayar led cosmetic-tech&nbsp;app that took under 8 years to become a&nbsp;billion-dollar&nbsp;company is also close to a second round of fund raising. Reports indicate this round will lead to the company&nbsp;doubling&nbsp;its&nbsp;valuation to $ 2 bn.&nbsp;&nbsp;
 Policy Bazaar&nbsp;has also raised $45 million a recent funding spree as per reports which is now valuing the Bengaluru based insurance&nbsp;aggregator&nbsp;at $2.4 billion.&nbsp;&nbsp;

Start-Up Fund Raising Rush, IPOs and More

Reports indicate the food delivery unicorn Zomato is eyeing a $ 1 bn IPO as early as June. Zomato had recently raised $250 million&nbsp;pushing&nbsp;its&nbsp;valuation to $5.4 billion.&nbsp;&nbsp;
 Falguni Nayar led cosmetic-tech&nbsp;app Nykaa, that took under 8 years to become a&nbsp;billion-dollar&nbsp;company, is also close to a second round of fund raising. Reports indicate this round will lead to the company&nbsp;doubling&nbsp;its&nbsp;valuation to $ 2 bn.&nbsp;&nbsp;
 Policy Bazaar&nbsp;has also raised $45 million in a recent funding spree as per reports which is now valuing the Bengaluru based insurance&nbsp;aggregator&nbsp;at $2.4 billion.&nbsp;&nbsp;

Reports indicate the food delivery unicorn Zomato is eyeing a $1 bn IPO as early as June. Zomato had recently raised $250 million&nbsp;pushing&nbsp;its&nbsp;valuation to $5.4 billion.&nbsp;&nbsp; Falguni&nbsp;Nayar-led&nbsp;cosmetic-tech&nbsp;app Nykaa, which took under 8 years to become a&nbsp;billion-dollar&nbsp;company, is also close to a second round of fundraising. Reports indicate this round will lead to the company&nbsp;doubling&nbsp;its&nbsp;valuation to $2 bn.&nbsp;&nbsp;
 Policy Bazaar&nbsp;has also raised $45 million in a recent funding spree as per reports which is now valuing the Bengaluru-based&nbsp;insurance&nbsp;aggregator&nbsp;at $2.4 billion.&nbsp;&nbsp;

fundraising

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