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Hyper-local e-commerce platform LoveLocal has raised $18 million in its pre-Series B investment round, which also happens to be the largest investment round ever raised by a solo woman tech founder in the world’s second-largest internet market. The oversubscribed round was led by Paul Allen’s Vulcan Capital and included participation from Klarna Founder & CEO Sebastian Siemiatkowski’s Flat Capital, Alumni Ventures Group and Commerce Ventures, existing investors Blume Ventures, AC Ventures, HenkelX Ventures, Chiratae Ventures, as well as angel investors Nami Zarringhalam, Co-founder of Truecaller, Sriram Krishnan, General Partner at Andreessen Horowitz, Anna Lambert, Director of Product Acceleration at Shopify, Sarah Jones Simmer, CEO of Found & ex-COO of Bumble, Arpan Sheth, Senior Partner at Bain & Company, and others. The proceeds from the funding round will be utilized towards developing its product, hiring more people to double its team over the next 18 months, and acce...

B2B supply chain management company SupplyNote has raised $1.2 million in its latest pre-Series A funding round, led by Venture Catalysts and included participation from Astor Management, SOSV, Faad Network, DevX Fund, Sarcha Advisors, SucSEED Ventures, Manjal Investments, Angelbay, and Riso Capital. With this, the startup has raised $2.8 million to date, including the funds it raised from GHV Accelerator, Artesian Ventures, and DAS Capital earlier. The proceeds from the funding round will be used for hiring and upgrading its technology stack, scaling up its HoReCa marketplace, extending credit options through partners, enabling easier transactions between restaurants and suppliers, and reinforcing its fulfillment service function. Additionally, some of the funds will be used to close strategic partnerships with POS, Payments, and Loyalty companies. It aims to enter new markets and strengthen its presence in the F&B ecosystem, and aims to expand in India, the Middle East, and South...

This year has seen a tremendous rise in the numbers of the unicorn family of India, and insurance startup Acko has become the latest entry in the list after raising $255 million in its new funding round, elevating its valuation to $1.1 billion. The round was led by private equity firms General Atlantic and Multiples Private Equity and included participation from Canada Pension Plan Investment Board and Lightspeed Growth, as well as existing investors Intact Ventures and Munich Re Ventures. The Bangalore-headquartered startup has now raised $450 million to date. Acko thus becomes the 34th Indian firm to become a unicorn this year and the second insurance startup to reach the milestone. According to the startup, the proceeds from the funding round would be utilized towards expanding its auto insurance segment and micro-insurance products across travel, appliances, and gadgets, as well as investing over $150 million in growing its health insurance segment. It also plans to hire more talen...

Much like Microsoft and Alphabet , Swedish mobile phone directory and caller identification service Truecaller has had a fruitful third quarter in 2021. The company saw its revenue increase by a humongous 129%, while its adjusted EBITDA margin came at 37.6%. This is the first earnings report for Truecaller after it went public and was listed on NASDAQ Sweden earlier this month. The third quarter of the year saw Truecaller pocket SEK 312.8 million in revenue, an increase of 129% when compared to Q3 2020. During the first three quarters, Truecaller earned SEK 737.6 million in revenue, an increase of 141% when compared to the same period in 2020. Its adjusted EBITDA came at SEK 117.7 million in Q3 2021 and SEK 273.6 million in the first three quarters. Its profit after tax came at SEK 2.3 million, while its basic earnings per share (EPS) came at SEK 0.01. “We see a continued strong growth trend both in terms of users and revenue during the third quarter and we are very proud of the moment...

Unlike Facebook, which has a lot on its plate right now, Microsoft and Alphabet have successfully exceeded estimates and reported strong results in their Q1 2022 and Q3 2021 financial reports. Let us delve a bit deeper. Microsoft Q1 2022 Microsoft reported that it pocketed $45.3 billion in revenue (an increase of 22%, the fastest growth since 2018) against estimates of $43.97 billion. Its net income grew by 48% to $20.5 billion (GAAP) and 24% to come at $17.2 billion (non-GAAP), while its operating income grew by 27% to come at $20.2 billion. Similarly, its diluted earnings per share (EPS) came at $2.71 GAAP and $2.27 non-GAAP (increasing by 49% and 25%, respectively). After the fiscal first-quarter earnings were announced, Microsoft’s shares rose by 2% in extended trading on Tuesday. “We delivered a strong start to the fiscal year with our Microsoft Cloud generating $20.7 billion in revenue for the quarter, up 36% year over year,” said Amy Hood, executive vice president and CFO of Mic...

AI-based startup Instoried has raised $8 million in its latest funding round, led by Pritt Investment Partners and 9Unicorns, and included participation from Mumbai Angels, Venture Catalysts Angel Fund, SOSV, and other HNIs. According to the startup, the proceeds from the funding round would be utilized towards strengthening its technology stack, expanding into new markets, and scaling up its teams and operations. Founded by Sharmin Ali, who happens to be a graduate of the Visvesvaraya Institute of Technology in Bengaluru (Sutanshu Raj joined as CTO and was later co-opted as a co-founder), the two-year-old startup helps content writers, in the SME category, e-commerce, FMCG, and other verticals to optimize emotions in their marketing content. It offers content creation and evaluation, using in-house built proprietary artificial intelligence (AI) to enable enterprises to reach their optimal content goals and make real-time analyses and suggestions to enhance the content, which will, in ...

Boston-based startup Thrasio has raised over $1 billion in its all-equity Series D financing round, led by global technology investor Silver Lake and Advent International. The round included participation from existing investors including Upper90, funds managed by Oaktree Capital Management, L.P., PEAK6 Investments, and Corner Capital. The valuation of the startup after the round has not been ascertained. The three-year-old start-up, founded by Joshua Silberstein and Carlos Cashman, is known to acquire top-rated and fast-growing third-party sellers on Amazon and provide them with technology, digital marketing, and sales chops to accelerate growth. It has raised $3.4 billion to date and has seen accelerated growth in recent times. In fact, it now has 200 brands, and had $500 million revenue and $100 million in profit last year, and is now set to have $1 billion in revenue. The startup has also been in talks to go public via a merger with Michael Klein’s SPAC company Churchill Capital Co...