📰 Startup Digest (July 7)

News and updated about India's startup space and more.

📲 Paytm rejigs its board. Jing Xiandong of Ant Group has exited the company’s board and is being replaced by Douglas Lehman Feagin. The change has come as the unicorn plans to float its IPO later this year.

The digital payments company has reshuffled its board and also appointed Ash Lilani, managing partner of Saama Capital, as an independent director.

🏢 NCLAT closes insolvency proceedings against Oyo’s subsidiary. The National Company Law Appellate Tribunal has also banned the intervention of external parties.

The hospitality company will continue working with its hotel partners for the closure of any pending claim.

💵 India’s startups raised $12.1 billion till June. The amount raised in the first six months of 2021 from venture capitalists and private equity firms exceeded last calendar year’s total funding by $1.

Amanat Khullar is the Content and Editorial Manager at ADIF.

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