Chinese e-commerce giant Alibaba has made a significant investment in South Korean apparel brand Ably Corp, boosting its valuation to over $2 billion and making it the country’s first unicorn of 2024. This marks Alibaba’s first equity investment in a Korean shopping app and signals growing interest in the South Korean market.
Aravind Sanka, an IIT graduate and co-founder of the popular ride-hailing startup Rapido, has joined the unicorn club after the company secured USD 120 million in funding. Sanka’s journey includes previous roles at Flipkart and the co-founding of another startup, highlighting the ambition and entrepreneurial spirit driving India’s tech scene.
