This week saw some notable developments in the startup world. Menhood, a direct-to-consumer (D2C) male grooming brand, is set to go public. It will be listed on the NSE Emerge. The initial public offering (IPO) will open on July 16 and close on July 19. The total number of shares to be issued is 25,95,200, priced at Rs 10 per share. The funds will be utilised to expand its product portfolio and strengthen its operational capabilities.
At the same time, University Living also made a big move: It acquired a 51% stake in UK-based StudentTenant. The acquisition is aimed at expanding its presence in the UK private student housing market. The company plans to add more than 10,000 beds and expand its reach to 500,000 students and 1,000 landlords.
Anicut Capital has successfully raised Rs 3,000 crore to back companies in the pre-IPO stage. The fresh funds will help companies like Milky Mist, Umeed Housing Finance and Ayurvedic Experience. The company currently has total assets under management of over Rs 3,000 crore.
Fintech startup Partior has raised over $60 million in a Series B funding round led by Peak XV Partners. Other notable investors include Valor Capital Group, Jump Trading Group, JP Morgan, Standard Chartered and Temasek.
Zepto, a quick grocery delivery platform, has promoted Devendra Meel to Chief Operations Officer. Meel is expected to lead category management and strengthen brand partnerships. He will primarily focus on optimizing assortment, pricing, inventory and growth. He was previously responsible for scaling Zepto’s advertising business and developing Zepto Pass.
Japan’s SoftBank Group recently acquired AI chipmaker Graphcore, a one-time Nvidia competitor that has faced an investment crisis that has forced it to scale back or close operations in several countries. The acquisition could give it the resources it needs to compete on a global scale.
