India Roundup: Byju’s eyes Tiger Global-backed firm, and more

Update (Nov 22, 9.30 p.m.): Added news about acquisition by Byju’s.

Byju’s in talks to acquire Hello English

• Byju’s is all set to acquire another startup in the language learning space. The Bengaluru-based company is in talks to take over Hello English, according to an Entrackr report.
• Byju’s has invested over US$2 billion in acquisitions this year.
• Tiger Global-backed Hello English, formerly known as CultureAlley, is a cloud-based language learning platform where users can learn multiple languages.

Paytm’s shares plunge further after market debut

• Shares of One97 Communications, the parent firm of India-based fintech major Paytm, continued to slide following in its second day of trading after its listing last week. Paytm’s stock reportedly fell as much as 10% before paring some losses in the early hours of trading.
• Last Thursday, the Alibaba-backed company’s shares plunged nearly 27% from their issue price of 2,150 rupees (US$29.03).
• Even though Paytm’s listing was subscribed 1.89 times, it is currently viewed as one of the worst market debuts in recent times.

Social learning platform GetSetUp raises US$10 million

• Social learning platform GetSetUp has raised US$10 million in fresh funding through ‘simple agreement for future equity’ warrants in a round led by Aileen Lee’s Cowboy Ventures and LightShed Ventures.
• The funding will be used to ramp up hiring in GetSetUp and offer content in various languages.
• The platform focuses on improving health, wellness, and knowledge of people aged over 50 across the globe.

Join Ventures to invest US$7 million into new food brand

• Join Ventures, which houses direct-to-consumer (D2C) brands, has forayed into indulgent foods with the launch of a new brand: Masqa.
• The company is looking to recruit over 100 employees to support its plans for Masqa, in which it aims to invest over US$7 million within the next 18 months.
• Join Ventures said its portfolio of brands including IGP, Interflora India, and IGPforBusiness see more than 100 million visitors across over 100 countries.

D2C startup Sleepy Owl scoops up US$6.5 million

• Sleepy Owl, a D2C company in the ready-to-drink coffee space, has raised US$6.5 million in a series A funding round led by Rukam Capital.
• Sleepy Owl aims to use the funds to expand within its existing retail markets across India, and solidify its core team.
• It is currently present in over 1,700 outlets and has catered to over 60,000 customers.

Agritech startup Fasal secures US$4 million in funding

• Precision agriculture platform Fasal has raised US$4 million in a pre-series A round led by 3one4 Capital, with participation from existing investors Omnivore and Wavemaker Partners.
• The startup will use the funds to expand its business across India and Southeast Asia, strengthen its full-stack services, and ramp up hiring.
• Fasal is a full-stack AI-powered IoT SaaS (software-as-a-service) platform for progressive horticulture.

Currency converted from Indian rupees to US dollar: US$1 = 74.23 rupees.