🇮🇳 Roundup: Airtel acquires stake in Singapore blockchain firm

Startups in India including Niyo, bitsCrunch, Vedantu, and Kalvi raised at least US$107 million in funding today from international and local investors.

Here’s a snapshot of the fundraising:

Here’s some important tech news from India today:

Telco giant Airtel bets on blockchain with new investment

Singapore-based Aqilliz has developed Atom, a patented hybrid blockchain platform that aims to make it easier for brands to create secure and consent-based solutions.

Airtel aims to deploy Aqilliz’s blockchain technology at scale across its adtech, digital entertainment, and digital marketplace products.

The deal was facilitated by Airtel’s startup accelerator program, which focuses on early-stage firms working on technologies that have adjacencies to the telco’s offerings.

OkCredit slashes jobs amid fintech pivot

The Tiger Global-backed startup reportedly laid off 35 to 40 employees this month to reduce cash burn and fend off competition from the likes of Udaan.

Confirming the job cuts, OkCredit told Economic Times that it will focus on its “fintech initiatives” and strengthen its growth channels.

The five-year-old startup, which is also counts Lightspeed India as an investor, has raised more than US$82.5 million since its launch.

Chargebee acquires Numberz

Numberz offers an automation platform to help businesses view, track, and collect their unpaid invoices. Founded in 2015, the startup is backed by investors such as Sequoia Capital and Kae Capital.

Chargebee also announced the launch of Receivables, which aims to give firms better visibility and control of their receivables as well as improve customer experience.