In a remarkable turn of events, Zyber 365, a cutting-edge
Web3 startup, has emerged as India's first unicorn of the year. Securing an
impressive $100 million in its Series A funding round, with the backing of the
UK-based SRAM & MRAM Group, the company now boasts a staggering valuation
of $1.2 billion. This significant milestone brings back memories of 2021, when
a wave of fresh startups found their way into the prestigious unicorn club.
Founded in May 2023 by Indian-origin entrepreneurs Pearl Kapur and Sunny Vaghela, Zyber 365 has not only become India's first unicorn of the year but also holds the distinction of being Asia's fastest unicorn . The company's innovative fusion of Web3 technology, artificial intelligence, and cybersecurity has captured the attention of investors and industry experts alike.
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Headquartered in London, with a robust operational base in India, Zyber 365 centers its focus on Web3-driven globalization. The company aims to establish India as the central hub for its operations, contributing to the growth and development of the country's startup ecosystem.
With this remarkable influx of capital, Zyber 365 plans to bolster its technological capabilities and expand its global footprint. The company's CEO, Pearl Kapur, expressed her excitement about the opportunities that lie ahead, emphasizing the commitment to deliver unparalleled value to their clients in the near future.
The SRAM & MRAM Group, the investor behind Zyber 365's recent funding round, has a history of significant investments in key sectors across India. One notable example includes their involvement in the level-1 blockchain network 5ire's funding round, which propelled the company to unicorn status in August the previous year. Additionally, they announced plans to invest in a semiconductor fabrication plant in India and the air cargo business of SpiceXpress.
However, the group has been facing allegations of fraud, with recent reports questioning their ability to finance the deals they've announced. In response, the group clarified that they are not directly investing $100 million in SpiceXpress but are part of a syndicate that plans to invest in the company over time. They also clarified that the second tranche of investment in 5ire was not made as the company did not require the funds.
Despite these concerns, Zyber 365 remains optimistic and focused on its mission to revolutionize the Web3 landscape. With the support of its visionary founders, Pearl Kapur and Sunny Vaghela, and the backing of the SRAM & MRAM Group, the company is set to redefine the boundaries of technological innovation and make a lasting impact on India's startup ecosystem.
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