In May, Walmart-owned PhonePe signed the term sheet to acquire an over 90% stake in Indus OS, to boost its super app dream on the back of the latter’s content and app discovery platform.

Downloads of Koo’s app skyrocketed after Indian ministers asked their followers to move from Twitter to the Indian platform.

The recent layoffs are expected to help the company stay afloat amid the second wave of COVID-19 and the muted demand for its offline offerings over the next few months.

While Slintel focuses on the US, EU, and APAC markets, it saw many inbound leads from India and Asia last year.

Since late last year, Tata Group has been out in the market to acquire internet companies to create a super app.

PhonePe processed 1.14 billion UPI transactions worth USD 32 billion in May.

With rising customer acquisition costs in core edtech segments like K-12, many startups have begun to chase overseas markets to drive growth.

The latest funding round has quadrupled the valuation of the seven-year-old Whatfix to USD 600 million.