Byju’s acquisition of WhiteHat Jr may hurt the ed-tech unicorn



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Earlier this year, when most Indian businesses were struggling to cope with the slowdown caused by the Covid-19 pandemic, India’s largest ed-tech startup impressed many by spending a small fortune on an acquisition that would add a new vertical to its already robust business. But just three months later, the prized buyout is quickly becoming a pain point that could have lasting damage on its new parent.

In August, Bengaluru-based ed-tech unicorn Byju’s acquired WhiteHat Jr, an online coding school for young kids, for $300 million (Rs2,223 crore). At the time of the acquisition, WhiteHat Jr seemed like a promising bet. After all, the 18-months-old firm already had learners in India and the US. It was also planning to expand to Canada, the UK, Australia, and New Zealand.

Backed by marquee investors like Nexus Venture Partners and Omidyar Network, WhiteHat Jr had raised just $11 million

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[Funding Alert] Radio Technology Startup Inntot Technologies Raises Bridge Round From Unicorn India Ventures

Funds raised will be used for procuring vastly refined and precision digital radio test equipment

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Kerala-based technology-driven startup Inntot Technologies has announced to have raised an undisclosed bridge round from Unicorn India Ventures. The venture company first seeded the company in 2018.

The platform focuses on providing high quality and cost-effective IP solutions for next-generation digital media broadcast receivers, namely, Digital Radio Mondiale (DRM) for amplitude modulation (AM) and frequency modulation (FM) bands receivers, digital audio broadcasting (DAB)/DAB+ receivers, call detail record (CDR) receivers and integrated services digital broadcasting (ISDB-T) receivers and HD-radio (HDR) receiver in collaboration with Xperi.

The company plans to use

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A Venture Capitalist Disinterested In Finding The Next Unicorn

Sajan Pillai, founder of Season Two Ventures, a $100 million venture-capital fund based in India and California, is not searching for the next unicorn, which is a privately held start-up company valued at over $1 billion.

Instead, his fund’s objective is to identify and invest in leading edge start-up companies, help them grow over a three-year period to a valuation of about $150 million and sell them to strategic or financial buyers.

It seems simple, but the devil can be found in the details. One of Mr. Pillai’s advantages is his previous career as a successful entrepreneur who founded and built UST Global, a technology solutions provider to Forbes 500 companies, into an international powerhouse. 

After retiring from his longtime position as CEO of UST Global, which is based in Aliso Viejo, California, Mr. Pillai decided to leverage his experience to

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Bengaluru’s Fedo Bags $1 Mn In Pre-Series A Round Led By Unicorn India Ventures

The startup will utilize the fresh capital in launching its image-based underwriting platform this year which would enable insurance on boarding in less than 60 seconds

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Bengaluru-based Fedo, an insurtech startup, on Tuesday raised $1 million in a pre-Series A round from Unicorn India Ventures. The round also saw participation from SEA fund along with Ashish Mehrotra.

The startup will utilize the fresh capital in launching its image-based underwriting platform this year which would enable insurance on boarding in less than 60 seconds. It is also working with a global player to dynamically price retail and group premiums and also plans to launch its operations in southeast Asia and Australia this year.

Founded in 2017 by Prasanth Madavana and Arun

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Ex-Tesla CIO’s Auto Tech Startup Tekion Becomes a Unicorn in Under 4 Yrs

Founded by Chennai-born entrepreneur Jay Vijayan, Tekion has raised USD 150 million in Series C funding round at a valuation of over USD 1 billion

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Founded by former Tesla CIO Jay Vijayan, Tekion has raised USD 150 million in Series C funding round at a valuation of over USD 1 billion to become one of the youngest unicorns.

The funding round was led by global private equity firm Advent, along with participation from Index Ventures, Exor, the holding company of Fiat Chrysler Automobiles and Ferrari, Airbus Ventures and FM Capital.

Founded in 2016, Tekion is a cloud technology company focused on the automotive industry. The company claims to bring consumer, dealer and OEM (original equipment manufacturer) together on its cloud-native

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Former Chinese Tech Unicorn Could Now Sell For Just Over $1,000

(Bloomberg) — Renrenche was one of China’s hottest tech unicorns backed by investors including Goldman Sachs Group Inc. and Tencent Holdings Ltd. Now the car website could sell itself for a little over $1,000.



a busy street filled with traffic next to a highway: Cars crowd the Second Ring Road in Beijing as traffic gets back to normal amid the ongoing COVID-19 coronavirus outbreak on March 24, 2020


© Photographer: GREG BAKER/AFP
Cars crowd the Second Ring Road in Beijing as traffic gets back to normal amid the ongoing COVID-19 coronavirus outbreak on March 24, 2020

The Beijing-based startup — which had a pre-money valuation of $1.4 billion in a financing round just two years ago — has a preliminary plan to sell its major assets to 58.com Inc. for HK$10,000 ($1,290), according to people familiar with the matter. China’s online classified ad leader will take over Renrenche’s Hong Kong entity, while offering at least $4 million in loans to its mainland operations, said the people, asking not to be identified because the transaction is private. The parties have yet to finalize the deal

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