homevideos Newsstartup NewsStartup Street: Chalo acquires Shuttl; Teachmint raises $78 mn in Series B funding
Startup Street: Chalo acquires Shuttl; Teachmint raises $78 mn in Series B funding
Chalo acquires Shuttl; Teachmint raises $78 mn in Series B funding. For investment banks, 2021 has been a busy time. Avendus Capital, till now in FY22, has worked on over $9-bn worth of deals in the startup space, compared to $2.1 bn in FY21, and $700 mn in FY20.
In a strategic move, public transport technology company Chalo has acquired Shuttl, the app-based office commute bus aggregator, for an undisclosed amount to fuel its global expansion plans.
Prior to COVID-19, Shuttl had a presence in large Indian metros and international cities like Bangkok, and was fulfilling about 100,000 rides daily through its 2,000 buses. News of the acquisition comes days after Chalo raised its Series C funding of about $40 million.
To know more about this acquisition in detail and Chalo's journey ahead, CNBC-TV18 caught up with its Co-Founder and CEO, Mohit Dubey.
Meanwhile, Teachmint raised $78 million in a Series B funding round. The 16-month-old edtech firm is now valued at $500 million. The round of funding was led by Rocketship and Vulcan Capital. The fundraise would help the startup expand globally and enhance its cutting-edge product capabilities as well as double its workforce over the next six months.
Mihir Gupta, CEO and co-founder, Teachmint, spoke about the company's growth plans with CNBC-TV18.
As funding activity picks up in the startup ecosystem, it's been a busy time for investment banking firms. Avendus Capital has so far in FY22 worked on over $9-billion worth of deals in the startup space, compared to $2.1 billion in FY21 and about $700 million in FY20.
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CNBC-TV19 looks at the trends in deal activity in the digital and tech space with Pankaj Naik, Co-Head, Digital & Technology vertical for Avendus Capital.
For all the discussion, watch the accompnaying video
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