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In December, upGrad's other subsidiary, Harappa, laid off nearly 30% of its total workforce, which included approximately 60 out of 200 employees

Layoff 2023: Edtech unicorn upGrad cuts 120 jobs amid funding winter 

In December, upGrad's other subsidiary, Harappa, laid off nearly 30% of its total workforce, which included approximately 60 out of 200 employees

As the Edtech industry is struggling to weather the ongoing tech winter, Edtech unicorn upGrad has laid off 120 employees, which is almost 30 per cent of the total workforce, at its subsidiary that was acquired in 2021. This is the second round of layoffs at the Ronnie Screwvala-run edtech company. According to Financial Express, the job cuts are an attempt to cut costs at the subsidiary, Impartus Innovations, which was bought for Rs 150 crore in a cash and stock deal.
A Tracxn report has estimated that 7,000-8,000 employees have been fired by edtech start-ups in this period, including, BYJU&rsquo;S, Toppr, WhiteHat Jr, Unacademy, Vedantu, Practically. Several players like Lido Learning, Udayy, Crejo.Fun, SuperLearn, etc., have also wound up operations due to continuing capital crunch and shifting consumer preferences.&nbsp; UpGrad has been founded by Ronnie Screwvala, Mayank Kumar and Phalgun Kompalli. The Edtech has managed raised over $600 million from Temasek, Bharti Enterprises and Bodhi Tree, among others, and is currently valued at around $2.2 billion.&nbsp;

Zomato-backed logistics technology platform Shiprocket has become the latest entrant to the country’s unicorn club after raising Rs 259 crore (roughly $32.6 million) in a funding round which valued the company at over $1.2 billion. 
According to reports, the fresh funds will help Shiprocket extend its operating system by building newer software and intelligence products along with deepening its capability on the fulfilment and same-day delivery experience.
Launched in 2017 by Gautam Kapoor, Saahil Goel, and Vishesh Khurana, Shiprocket delivers packets to more than 2 lakh orders daily, helped along by robust demand in the direct-to-consumer (D2C) market and a number of e-commerce businesses trying to improve their supply chains to meet the exploding demand in non-metro cities.

Shiprocket turns unicorn after raising $32 billion crore

This Zomato-backed startup just delivered a Unicorn valuation

Shiprocket turns unicorn

<div>
A unicorn is a privately-held startup with a valuation of $1 billion or more
</div>

Zomato-backed logistics technology platform Shiprocket has become the latest entrant to the country&rsquo;s unicorn club after raising $32 billion&nbsp; in a funding round which valued the company at over $1.2 billion. Shiprocket joins peers Delhivery, Xpressbees, and BlackBuck in the unicorn clique.&nbsp; The fresh funding round led was by Light Rock India and as per the startup&rsquo;s regulatory filing, Singapore&rsquo;s sovereign fund Temasek, Bertelsmann, Moore Strategic Ventures, Paypal, March Capital, and Huddle also participated.
The fresh funding comes at a time when the company has been on an acquisition spree. The startup has acquired five firms over the last one year.&nbsp;
Also Read:-<a href="https://www.editorji.com/business-news/zomato-stake-sale-uber-to-drive-out-1659495315251"> Zomato stake sale: Uber to drive out</a>
Launched in 2017 by Gautam Kapoor, Saahil Goel, and Vishesh Khurana, Shiprocket delivers packets to more than 2 lakh orders daily, helped along by robust demand in the direct-to-consumer (D2C) market and a number of e-commerce businesses trying to improve their supply chains to meet the exploding demand in non-metro cities.

Skincare matters. At least that's what this hottest new-age consumer brand shows. 
Honasa Consumer Pvt Ltd, the parent company of personal care brand Mamaearth and The Derma Co, has raised $52 million as part, making it the 45th unicorn in 2021 in India.Future plans 
The newly acquired funds will be directed towards product innovation, distribution, and marketing of brands in the company’s stable.
According to reports, the company will soon start testing out its products in the Middle East (Gulf Cooperation Council) and South Asia. 
Female unicorn founder Founded by Varun and Ghazal Alagh, Mamaearth is a D2C brand that sells over 80 beauty and personal care products across India through online and offline medium. 
Mamaearth competes with The Moms Co, Sugar Cosmetic and many other brands in the baby-mother care segment and personal hygiene space.

Mamaearth is now worth a billion dollars! Meet the first unicorn of the new year

Mamaearth is a personal care brand that sells over 80 beauty and personal care products across India through online and offline medium. Mamaearth officially launched in December 2016 and is one of the fastest-growing brands in less than 5 years. 

Mamaearth is now worth a billion dollars! Meet the first unicorn of 2022 and its already profitable

The company will use this funding to test out its products in the Middle East and South Asian markets

2022 is stepping up the startup&nbsp;game with personal care brand&nbsp;Mamaearth's parent company becoming the first unicorn of the new year. Parent company Honasa Consumer Private Limited raised $52 million led by Sequoia at a valuation of $1.2 billion. Also watch|<a title="&nbsp;Alka Mittal becomes the first woman to head ONGC&nbsp;" href="https://www.editorji.com/business-news/alka-mittal-becomes-the-first-woman-to-head-ongc-1641262814295">&nbsp;Alka Mittal becomes the first woman to head ONGC&nbsp;</a>
Mamaearth&nbsp;- Skyrocketing business Mamaearth&nbsp;is a personal care brand that sells over 80 beauty and personal care products across India through online and offline medium.&nbsp;Mamaearth officially launched in December 2016 and is one of the fastest-growing brands in less than 5 years.&nbsp;
The Gurugram-based startup crossed an annual revenue run rate of&nbsp;Rs 700 crore ($100 million), and is on course to become a&nbsp;Rs 2,000-crore brand&nbsp;in the next three years, according to an analyst report by Jefferies. Meet the founders Founded by husband-wife duo&nbsp;Varun&nbsp;and&nbsp;Ghazal Alagh, Mamaearth&nbsp;was born out of their own struggle to find skin products for their child's skin condition.&nbsp; With a simple mission to&nbsp;provide&nbsp;natural and toxin-free products&nbsp;for skin and personal care Mamaearth&nbsp;has flooded the shelves and stacks of physical and e-retailers.&nbsp;

GlobalBees, just a 9-month old startup is the latest entrant to the billion dollar or unicorn club. 

GlobalBees joins the unicorn club as startups and investors rush into Thrasio style e-commerce

GlobalBees has raised close to $111.5 Mn in a mix of equity and debt in a Series B round of investment led by FirstCry in participation with SoftBank, Premji Invest, Chiratae Ventures, and Trifecta Capital among others.

Billion dollar baby - GlobalBees, newest unicorn on the block

Investors heavily funding Indian startups aggregating small but promising online products, hoping to scale them into large global brands.

GlobalBees, just a 9-month old startup&nbsp;is the latest entrant to the billion dollar or unicorn club. After the largest ever Series A funding in July,&nbsp;GlobalBees has raised close to $111.5 Mn in a mix of equity and debt in a Series B round of investment led by FirstCry in participation with SoftBank, Premji Invest, Chiratae Ventures, and Trifecta Capital among others. Investors are betting big on the <a href="https://www.editorji.com/business-news/google-s-sundar-pichai-praises-indina-startups-check-out-what-he-has-to-say-1638609268684" target="_blank">startups&nbsp;</a>looking to replicate the&nbsp;success of&nbsp;Thrasio in India.&nbsp;
Thrasio is a US-based e-commerce player that acquires small sellers/brands listed on the Amazon marketplace. After the acquisition of Amazon seller&rsquo;s businesses,&nbsp;Thrasio scales them up. Thrasio&nbsp;is valued at nearly&nbsp;$8 billion currently.&nbsp; <a href="https://www.editorji.com/story/startup-spotting-3-month-old-globalbees-raises-150-million-led-by-firstcry-1626762098331" target="_blank">GlobalBees&nbsp;</a>was&nbsp;founded by FirstCry founder Supam Maheshwari and Nitin Agarwal, a former executive of Edelweiss Financial Services, with a corpus of $75 million. It aims to invest in 30-35 brands ranging from online-only products to fast-moving consumer goods. GlobalBees is planning to invest in more than 20 brands by the end of this financial year.
Also Read:&nbsp;<a href="https://www.editorji.com/business-news/mukesh-ambani-talks-succession-for-the-first-time-for-his-200-billion-reliance-empire-1640749921718" target="_blank">Mukesh Ambani talks succession for the first time for his $200 billion Reliance empire</a>&nbsp; GlobalBees Brands added three more startups to its portfolio list in November. It picked up a majority stake in a dietary supplement&rsquo;s maker Healthyhey, hair care products brand Rey Naturals, and eyewear brand Intellilens for undisclosed amounts. These acquisitions took the number of brands that GlobalBees has acquired in just 4-5 months to eight.

unicorn club

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