Unacademy Launches New App, Amazon Set To Acquire MX Player, Simpl Undergoes Restructuring and more

Unacademy broadens horizons with a new Spanish learning app, while Amazon gears up to acquire MX Player. Simpl streamlines operations amid restructuring, and Mirae Asset pioneers India's first EV ETF. Plus, the DoT ignites Industry 4.0 dreams with a call for proposals to fuel digital transformation.

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What Matters

“Na Mai Samjha, Na Mai Jaana”: Unacademy Launches App To Learn Spanish, Plans To Add More Languages

Unacademy just launched an app to learn Spanish, and it's set to add French next. CEO Gaurav Munjal announced plans to include Indian languages like Kannada and Marathi soon.

While you can start learning for free, an Unacademy PRO subscription will cost INR 4,999 annually or INR 790 monthly after your free limit is up, with pricing tweaks in the works.

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“Mai Sabko Kharid Lunga”: Amazon In Final Stages Of Acquiring MX Player From Times International

Amazon is in the final stages of acquiring MX Player from Times Internet for over $100 million in an all-cash deal, with a formal announcement expected within a week. MX Player's senior management will join Amazon post-acquisition.

This follows Times Internet's recent trend of divesting assets, including MX Takatak, Dineout, MensXP, iDiva, and Hypp last year.

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“Munafe Ke Hazar Tarike”: Simpl Cuts More Jobs In Ongoing Restructuring With Eye On Profitability

Simpl, the Bengaluru-based consumer credit startup, is tightening its belt with more layoffs, letting go of 30 employees after previously cutting 160 positions.

This restructuring wave also sees senior executives Vatsal Jain, Ashwini Ravindranath, and Ramkumar Narayanan resigning. Back in April 2023, the BNPL startup slashed 25% of its workforce, or around 150 employees, all in a bid to focus on profitability.

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“SEBI Ke Haan Ka Intezaar”: Mirae Asset Seeks SEBI’s Nod For India’s First EV & New Age Automotive ETF

Mirae Asset is seeking SEBI’s approval for India’s first EV & New Age Automotive ETF, which will track the Nifty EV and New Age Automotive Index. The ETF's portfolio will feature major players and companies approved under the PLI scheme in the automobile and battery sectors.

This move comes hot on the heels of NSE's launch of the new thematic Nifty EV & New Age Automotive Index last week.

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“Hazraat Hazraat Hazraat”: Industry 4.0 Push For Startups As DoT Seeks Proposals For Survey To Foster Digital Transformation

The Department of Telecommunications (DoT) is calling for proposals by June 11 to conduct a survey aimed at assessing how prepared MSMEs and startups are for adopting Industry 4.0 technologies.

This initiative seeks to pinpoint areas needing improvement to foster digital transformation through AI, IoT, robotics, and big data in manufacturing and industrial processes.

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1. D2C brand CHOSEN has secured new funding to provide IoT-led skincare solutions, aiming to expand its team and boost supply chain capabilities. This follows an equity-free $100,000 grant from Peak XV Partners' SPARK program earlier this year.

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2. Pune-based sales intelligence startup Clodura.AI has raised $2 million in a Pre-Series A round led by Bharat Innovation Fund, with Malpani Ventures also participating. The funds will be used to expand its user base and scale up its platform.

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3. Nazara Technologies' shares surged over 16% to INR 814 on the BSE after its subsidiary, Absolute Sports, entered the US market by acquiring Pennsylvania-based entertainment news site Soap Central. The stock opened at INR 714.15, up from the previous close of INR 697.

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4. Maino, a digital marketing automation startup, secures funding from India Quotient, along with participation from angel investors Karan Bedi of MX Player and Soul Sensei CEO Janhavi Parikh.

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5. Docplix, a health-tech startup, secures Rs 1.2 crore in a bridge round led by Inflection Point Ventures (IPV), with plans to utilize the funds for product development, AI integration, and market expansion.

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