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Here’s what you need to know today in startup and venture news, updated by the SA¹ú¼Ê´«Ã½ News staff throughout the day to keep you in the know.

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Paytm files for up to $2.2B IPO

India-based digital payments giant on Friday filed paperwork for an initial public offering that could raise up to $2.2 billion. The IPO would be among the biggest ever for India and comes as the COVID-19 pandemic continues to fuel demand for digital services in the country. Paytm is backed by investors including , Ìý²¹²Ô»å . The offering would value it at up to $25 billion, sources .

— Marlize van Romburgh

Genvid raises $113M for massive interactive live events

Livestreaming technology startup said it has closed $113 million in a Series C funding round co-led by existing investors and .

The new capital will be used in part to establish a new subsidiary dedicated to producing what it calls “massive interactive live events,” or MILEs — a sort of hybrid between a TV show and video game. The company previously helped create , a MILE on that reportedly was watched for more than 100 million collective minutes during its 12-week season.

— Marlize van Romburgh

IPOs

• Scribd eyes IPO: Online publishing platform could go public at a $1 billion valuation before the end of the year, , citing sources familiar with the matter. The company has raised more than $105 million in private funding, per SA¹ú¼Ê´«Ã½.

Autotech

• Shopmonkey grabs $75M for auto shop software: , a cloud-based software platform for auto shops, raised $75 million in Series C funding led by previous investors and , with participation from previous investors and , plus new investor . The company noted that the investment comes as the auto repair industry faces intense demand amid a resurgent economy and used-car shortage.

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