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This week funding:https://meadow-pillow-7fa.notion.site...

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00:00 Is Starlink finally coming to India?
01:57 GIFT City’s international exchanges
04:12 Byju’s update
05:22 Nodwin Gaming to acquire Comic Con India
06:29 Groww glitches and discontinuing of US stock offering
07:44 Rebel Foods joins ONDC
08:22 Funding News
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Is Starlink finally coming to India?

1. Starlink is one step closer to commercialising their satellite-based internet services in India.
2. Starlink is all set to receive the global mobile personal communication by satellite services (GMPCS) licence after the DPIIT has clarified that none of Starlink’s investors are from any of India’s bordering countries.
3. Starlink has been trying to enter India since 2021 when they started taking pre-booking for 99 dollars for their satellite-based internet services.
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GIFT City’s international exchanges:

1. The Indian government has allowed Indian companies to list directly on GIFT City’s international exchanges - India International Exchange and NSE International Exchange.
2. See, until now, Indian companies could only list on domestic exchanges like the NSE and BSE and were only able to raise money from Indian investors.
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Byju’s update:

1.Byju’s is willing to cut down their valuation by 90% from their peak 22 billion dollars to just 2 billion dollars to raise between 100 and 200 million dollars.
2. Byju’s is looking to dilute 10% of its equity.
3. And if they are going to raise just 100 million, their valuation would drop down to just 1 billion dollars.
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Nodwin Gaming to acquire Comic Con India:

1. Nodwin Gaming, a subsidiary of Nazara Technologies, is acquiring a 100% stake in Comic Con India, for 55 crore rupees.
2. It’s a mix of a cash and share swap deal, where Nodwin Gaming will pay 27.5 crore in cash and another 27.5 crore in share swap.
3. Nodwin Gaming operates Esports events which are mostly attended by the youth and by acquiring Comic Con India, they will have access to a new segment of 200,000 youth who attend Comic Con India every year.

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Groww glitches and discontinuing of US stock offering:

1. On 23rd January 2023, a lot of Groww’s customers were unable to login during market hours.
2. This issue lasted for almost an hour. It seems like these glitches are happening more often than not.
3. Investors are asking Groww to compensate for their losses which were caused by a glitch that lasted for almost an hour.

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Rebel Foods joins ONDC:

1. Cloud kitchen startup Rebel Foods has joined the ONDC platform to extend their D2C network.
2. Customers can now order food directly from all of Rebel Foods’ brand through ONDC.
3. ONDC network has already grown to over 500 cities and has close to 3 lakh merchants.

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Funding News:

1. This week, Indian startups raised a total of 125.27 million dollars.
2. Vivifi India Finance, which has raised 75 million dollars in their series B round.
3. Namdev Finvest raised 15 million dollars
4. Infra.Market, a B2B e-commerce platform for construction materials, which has raised 12 million dollars.
5. Ecofy, which specifically focuses on lending for green initiatives like solar and EVs, has raised 10.8 million dollars.
6. Newme raised 5.4 million dollars
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