News Analysis during 08/02/2021 to 15/02/2021

1. Times of India Aug 2, 2021

Title: US-based social marketplace Poshmark to enter India (Sarkar, 2021)
Poshmark is a Nasdaq listed fashion ecosystem company based in the US which is ready to enter
the Indian Market. It sells second hand clothing keeping in view the sustainability issues. It
functions like OLX and Quikr but unlike those, it handles the backend support for its customers
pickup and delivery. It is expected to touch $20 billion in five years of its launch in India.

2. Economic Times Auto Aug 12, 2021

Title: MetroRide gets seed funding from global investors’ consortium (ETAuto
Contributor, 2021)
Less than a year-old start-up based in India and Delhi NCR, which aims to solve the first and
last-mile connectivity to concentrated places like metro, corporate parks, have received seed
funding from angel investors. These investors are spread across Silicon Valley, New Jersey, and
India. The start-up is the first AI-based electric mobility platform, and these funds will be used in
enhancing its AI engine-VIKI which is the heart of MetroRide.

3. Business Insider Aug 13, 2021

Title: From Byju’s to Eruditus — India now has four edtech unicorns, thanks to a $4
billion funds flowing in since 2020 (Bhalla, 2021)
Edtech was a minor funding sector in India until 2019. The start of online classes for students
due to the pandemic raised the funds of edtech. Three significant startups have become unicorns
in a short period as the fundraising has been 45% more in this past six months than the previous
year. As byjus is the first startup to become a unicorn, the highest valued startup in India and the
highest valued edtech startup throughout the globe. Vaibhav Karmakar, vice president of PGA
LABS, said that India's edtech domain would gain more investor confidence when China's
regulation of no profit on education came into force.

4. Business Insider Aug 13, 2021

Title: The saga behind $610 Poly Network cryptocurrency theft — everything we know
about the mysterious hacker behind the attack and what went down over the last three
days (Prathap, 2021)
On 10th August 2021, over $600 has been stolen by a “white hat” hacker, which is the largest
cryptocurrency hack to date. They had used a network called “poly network” while directing this
hack, which was being done when the cryptocurrency was locked in a decentralised finance
(Defi) platform. a blockchain developer, Kelvin Fichter, in a tweet thread tells that the hacker has
been noticing a security hole with the help of the poly network and use smart contracts like
tokens to trade the currency which was hacked and stolen