This Week’s Startup Deals: PhonePe, BharatPe, Housing.com, BOXX, HeyoPhone, SnapE, Shiprocket, and WhiteHat Jr were in the News
This week has seen a flurry of exciting developments in the startup world. HeyoPhone successfully secured substantial funding, while gradCapital enthusiastically introduced a $6 million fund tailored to support student-led ventures. In a surprising twist, BharatPe’s Chief Business Officer, Dhruv Bahl, decided to step down from his position, and Ananya Tripathi, the CEO of WhiteHat Jr, also made a notable exit. Furthermore, PhonePe, not wanting to be left behind, made a bold announcement of its entry into the stock broking business and simultaneously launched Share(dot)Market, signaling their ambition to diversify and expand their offerings.
At ZeeBiz.com, we’ve handpicked a selection of this week’s hottest bargains, showcasing esteemed brands like PhonePe, BharatPe, Housing.com, BOXX, HeyoPhone, SnapE, Shiprocket, WhiteHat Jr, and many more for your convenience.
WhiteHat Jr CEO Ananya Tripathi Quits
Ananya Tripathi, the CEO of the online coding service WhiteHat Jr, the embattled platform under the umbrella of edtech behemoth BYJU, has resigned from the company, according to a media report on Wednesday.
BharatPe’s Chief Business Officer Dhruv Bahl Steps Down, Ashneer Reacts
Dhruv Dhanraj Bahl, previously serving as the COO of BharatPe and more recently assuming the role of Chief Business Officer (CBO) for the company’s merchant lending division, has decided to step down. In an official statement provided to IANS, a spokesperson from the company conveyed, “We would like to confirm that Mr. Bahl is embarking on a new journey away from BharatPe to pursue his entrepreneurial aspirations.”
PhonePe Forays into Stock Broking Business Launches Share(dot)Market
PhonePe, a payments firm headquartered in Bengaluru, has expanded its horizons into the world of stock broking. They’ve proudly introduced the Share(dot)Market through their subsidiary, PhonePe Wealth Broking Pvt Ltd. This exciting announcement was made on a Wednesday, precisely on August 30th. Share(dot)Market is conveniently accessible via both a mobile application and a web-based platform. This innovative platform is tailored to empower retail investors, offering them the ability to engage in intra-day trading, purchase stocks, explore handpicked wealth portfolios, and invest in mutual funds.
Shiprocket Fulfillment to Expand Warehousing Footprint with 3 New Facilities
On a delightful Tuesday, Shiprocket Fulfillment unveiled exciting news of its burgeoning warehousing network, marking the inauguration of three brand-new facilities within the nation. This strategic move aligns with their ambitious goal to bolster capacity by approximately 50 percent within this fiscal year. In a significant geographical expansion, the company has introduced these state-of-the-art warehousing hubs in the bustling cities of Mumbai, Bengaluru, and Gurugram. The collective addition of these facilities amounts to a whopping 4.3 lakh square feet, signifying Shiprocket Fulfillment’s steadfast commitment to meeting the burgeoning demands of its clientele.
SnapE Cabs Looking to More than Double Its Fleet in FY’24
A company spokesperson revealed on Tuesday that SnapE, the ride-hailing platform renowned for its eco-friendly electric cabs, has ambitious plans. By the close of the fiscal year in 2024, SnapE intends not only to expand its existing fleet but also to embark on a journey into the heart of smaller towns and cities.
Housing.Com Ties Up with BOXX to Provide Insurance Plan to Protect Customers from Cyber Fraud
Housing.Com announced on Monday that it has partnered with global insurtech player BOXX to create a cyber security plan to safeguard its consumers from digital fraud. By developing the full ‘Cyber Protect’ plan, this alliance intends to ensure digital protection for Indian homebuyers.
gradCapital Launches $6 Million Fund for Students’ Startups
gradCapital, a venture capital fund rooted in the vibrant city of Bengaluru, has unfurled its second fund, a generous USD 6 million (approximately Rs 49 crore) infusion earmarked for nurturing budding student entrepreneurs. In a thoughtful gesture, this enterprising VC fund declared on Friday its commitment to extend a customary financial boon, bestowing a USD 40,000 (Rs 33 lakh) grant in exchange for a modest 4 percent equity stake in enterprises founded by these young visionaries.
