The launch is expected to take place in the coming months and the startup has already secured angel funding from prominent entrepreneurs in India’s tech sector
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The funding round for World Labs was led by prominent investors including Andreessen Horowitz, New Enterprise Associates, and Radical Ventures, with additional backing from major tech players like AMD, Intel, and Nvidia
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This would be a dramatic jump from the company’s earlier valuation of USD 86 billion, positioning OpenAI as one of the most highly valued startups in the artificial intelligence space
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Kshirsagar brings a wealth of experience and expertise to his new role, where he will oversee and enhance the firm's risk management framework
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The private markets will now serve as the originator for the next set of IPO candidates. India has 110 private unicorns - even if 50 per cent go public, they could contribute 10 per cent to the total pool of listed +$1 billion companies
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Several unicorns are expected to launch IPOs but many upcoming listings will come from newer companies with sub-billion-dollar valuations, writes the author
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The funding was led by General Catalyst, with Dragon Fund and Epiq Capital joining as new investors
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As per Reuters, Swiggy is preparing for one of India's largest IPOs this year, targeting a valuation of around USD 15 billion
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