Airblack, Makeup And Beauty Upskill Platform Raises Millions

Latest Startup News-

Airblack, an online makeup and beauty upskilling platform, has raised $5.2 million in its Series A round funding. The Indian startup Airblack started as a travel and hospitality venture but due to the impact of Covid 19 on startups, the company had to switch to another line of business that saw a new boom due to the same Pandemic, the online education business. The series A round funding, was led by Info Edge Ventures and Elevation Capital, who are also former SAIF partners. Atelier Ventures and Better Capital also took part in helping the rising Indian Startup to grow, Some angel investors from the Indian Startup Community including Kunal Shah, founder of Cred, Ankur Nagpal, Founder and CEO of teachable and Sanjeev Barnwal, Founder and CTO of Meesho also participated with great vim and vigor.

The fund raised, will act as fuel in the accelerating wagon of Airblack, for the expansion of the brand and the introduction of new clubs for users and investment will also be made in product management and development part of the business, engineering and marketing will also get new budgets to raise the brand awareness, said Airblack to press in a recent release.

The startup is founded by former Elevation Capital’s executives, Pulkit Pujara and Videt Jaiswal who worked on this idea together, the startup helps aspiring people to upskill and become what is called the micro-entrepreneurs in the beauty skilling industry. This startup funding news, indicates that investors see great potential in this rising Indian Startup, and have also given a hint that they might fund more upcoming startups in India, if they see some potential.

Started as a company that was focused on the travel and hospitality industry, Airblack changed lanes to the beauty side after the pandemic hit the travel and hospitality industry, and brought everyone in that business on their knees. Airblack had raised $1.5 million seed capital from elevation in August 2019. According to the startup spokespersons, over 25,000 students have attended their various courses across more than 500 cities, and it clocks a surprisingly huge amount of time spent on online classes, over 45,000 hours of live classes every month. This supports the claim of Airblack about their expansion plans and the potential of business all over the globe, not only it’s a piece of good news for the rising startup but also for the Indian Business Community. Let’s see how far this series A funding takes Airblack on the journey to its success.

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Growing Advantage for Snapdeal as Chinese e-tailers pack their bags – Upcoming startups in India

 

Looks like an opportunity for upcoming startups in India, As Chinese e-commerce platforms like Shein, Club Factory and Romwe out of the image thanks to the recent ban on 59 Chinese apps, homegrown e-commerce companies like Snapdeal targeting the value-conscious customer may be within the gain.

The SoftBank-backed company, together with upcoming startups in India, has been witnessing a rise in traffic, said three sources. per them, the void created after the exit of Chinese e-commerce apps is anticipated to be filled by the likes of Snapdeal, Meesho, GlowRoad et al. Sources emphasized that Snapdeal has started witnessing a spike in volume in categories like fast fashion, home decor and lifestyle accessories. Over the last two years, Shein, Club Factory and Romwe had managed to create a clear scale in these categories collectively.

“When the lockdown was lifted in June, Club Factory accustomed process about 30,000 daily orders while Shein and Romwe collectively shipped 15,000 to 20,000 orders. Since they aren’t operational, these volumes will gradually move towards Snapdeal and other fashion-focused e-commerce companies,” said one among the sources on condition of anonymity. “Snapdeal may grab 40-50% of the collective scale of the three Chinese e-commerce firms.”

At present, Snapdeal does about 150K to 170K orders each day. Market analysts also believe that the ban on the Chinese e-commerce marketplaces would shift a major chunk of their business towards Snapdeal and upcoming startups in India. “As the Chinese players exit the market after an aggressive bout of high spending, Snapdeal seems poised to emerge as a major beneficiary. It’s now the sole large, independent horizontal e-commerce company in India with a sole target Bharat,” said Satish Meena, forecast analyst, Forrester.

But, why is Snapdeal in an exceedingly position to grab the market share of Club Factory, Shein and Romwe and other upcoming startups in India? Let’s gain some background on Snapdeal and also the status of the unorganized e-commerce segment. About three years ago, caught during a bruising battle for market share and investors trying to drive a merger with Flipkart, it almost gave the look of the top of the road for Snapdeal. However, the firm decided to interrupt far away from traditional high-burn e-commerce business models and reinvented itself as Snapdeal 2.0.

During the 2018-19 periods, Paytm Mall and ShopClues and other upcoming startups in India stood a solid chance to say the third spot within the fast-growing value e-commerce segment. Unable to lift funds and shrinking scale, ShopClues lost the plot and consolidated with Singapore-based Q0010 during a fire sale. Paytm Mall kept changing goal posts without a long- term and consistent plan. While both companies were within the position to go away Snapdeal behind, the Kunal Bahl-led company cleared all distractions to target cracking the value-seeking segment.

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Unacademy claims 82% revenue growth With 165 Mn YouTube video views in April

As students across the country turned to online education over the last 40 days, Edtech firms have witnessed unprecedented growth. Online learning platform Unacademy’s chief executive Gaurav Munjal said on Monday that the firm’s revenue in April was “more than all of 2017, 2018, and also the half of 2019 combined.”

As per Startup funding News - Unacademy claims to own seen an 82% surge in revenue in April in comparison to the previous month while also registering quite 10X growth as compared to April 2019.

“This has been an exceptional month for us and while we were working remotely, I saw all teams being super productive and efficient,” said Munjal in an exceeding tweet. “We broke some records this month.”

According to the startup funding news, there have been 165 million video views on YouTube in April, which was highest in an exceedingly month since its inception in 2015. the overall watch time of these videos stands at a staggering 1.4 billion minutes across YouTube, special classes, free also as a subscription as per Startup funding India.

During this era, Unacademy conducted 1,20,000 live classes and a pair of,64,000 tests on its platforms. As far because the number of tests is anxious, it was approx 247% growth as compared to March as mentioned in the startup funding news. To recall, Unacademy had crossed a watch time of 1 billion minutes across its platform and YouTube and conducted 100,000 live classes in March.

As per estimates, Unacademy has around 1, 00,000 subscribers and sure to own an operating revenue of Rs 120 crore in FY20, reported by Startup funding India. Backed by the likes of Facebook, Steadview, General Atlantic and Sequoia, Unacademy had recently raised $110 million in its Series E round at a valuation of $510 million.

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Latest Technology News – Uber Eats Acquired by Zomato in a $350 Mn Deal

According to the latest technology news, Following quite a while of talks, online nourishment conveyance major Zomato has at long last gained Uber Eats India, the misfortune making nourishment conveyance business of ride-hailing firm Uber.

Zomato was one of the popular upcoming startups in India in 2010. The Gurugram -based firm has purchased out Uber Eats' , India business in an all-stock exchange for allegedly about $350 million. The arrangement would give Uber 9.99% possession in Zomato.

The buyout advancement comes after Zomato as of late raised $150 million speculations drove by existing speculator Ant Financial.

The securing will make the joined substance of Zomato and Uber Eats India order near 55% piece of the pie in the nourishment conveyance portion. Aside from removing a contender, according to latest technology news, the arrangement would make Zomato single biggest player abandoning its opponent Swiggy.

"This obtaining essentially fortifies our situation in the class," said Deepinder Goyal, Founder, and CEO, Zomato. According to Zomato representative, Uber Eats in India will cease tasks and direct cafés, conveyance accomplices, and clients of the Uber Eats applications to the Zomato stage.

For Uber, which had opened up to the world as of late, the ride-hailing firm plans to check misfortunes through the arrangement. The ride-hailing firm, in its last quarterly outcome, has denoted that the Indian nourishment business has been costing them intensely. According to a gauge, Uber Eats has been losing about $15-20 million per month in India.

Begun in May 2017 in India, one of the most trending upcoming startups in India, Uber Eats professes to do around 1.5-2 lakh conveyance daily with a gross deals run-pace of $200 million. It is accounted for to have more than 30,000 conveyance officials utilized in 32 urban communities. "India stays an outstandingly significant market to Uber, and we will keep on putting resources into developing our neighborhood Rides business, which is as of now the reasonable class pioneer," said Dara Khosrowshahi, CEO of Uber.

According to the latest technology news, the obtaining has presented to Uber a long haul and key accomplice in Zomato in India. According to sources near the arrangement, Uber could likewise bring Japan's SoftBank near Zomato that is yet to put down its wager in the Indian nourishment tech space. Prior, Uber Eats held converses with both Swiggy and Amazon for potential procurement, yet talks couldn't go further. In April a year ago, the procurement chats with Swiggy fell through over its valuations and offer stake. Uber had demanded to get more than 20 percent stake while Swiggy consented to weaken just 50% of the asserted stakes by Uber.

Upcoming Startups In India - The Backbone Of India’s Future.

India faced serious unemployment problems in the past years. Upcoming startups in India are putting a ray of hope in creating new job opportunities for the Indian unemployed population. According to Technology News Today, An estimate of 2.3 million jobs will be created within the next 5 years. Currently, Technology Startups are leading the Startup era with a consolidated growth rate of 11-12% every year. The next big shift is for the retail sector with an expected growth rate of 5o% over a period of 5 years.

Venture Capital and Angel investments are benefitting the Indian economy in terms of growth of Upcoming Startups in India. Firms go through multiple rounds of series funding which is helping them to hire best talents in the country. According to Technology News today, Mergers and Acquisitions are helping companies to expand their market share by acquiring new capabilities. The best example comes from the acquisition of “Whatsapp” by the social network giant “Facebook”. Apart from tech startups, Educational tech startups are also booming on the edge with digitization in the near future. One such example is BYJu learning app.

With the growing popularity of the Internet revolution, India is the 2^nd largest smartphone market after the United States. The use of online mobile transactions is increasing rapidly. Major startups like Paytm, Freecharge, etc are covering the market exponentially. While upcoming startups in India are eyeing over the competition, This seems to emerge as an opportunity for entrepreneurs to cover the market in this domain. According to Technology News Today, there are emerging opportunities coming up in the domains of Big Data Analytics, Machine Learning, Healthcare, AR/VR, Education, IoT, and Blockchain Technologies

India is the home to more than 4000 startups to date. While more upcoming startups in India are geared up to face the rising competition and putting their ideas to work for the future. The rapid growth of Startups in India has led to forming the backbone of the Indian economy.