Merge, an event that provides platform for startups to connect with industry experts, will be taking place again this year, as per an announcement from Anthill Ventures. Merge 2020 will be the third edition that will also include leading corporates and global investors. Anthill and Amazon Web Services will be organising the event to foster…
Zoomcar, a self-drive car rental platform, raised $30 million in a fresh funding led by Sony Innovation Fund, the venture arm of Japanese electronics giant Sony. The funding is a part of Series D funding round, in which existing investors took part in the investment. Zoomcar will utilise the funds for further expansion of its…
Samya.AI, an AI SaaS startup, announced that it has raised $6 million in seed round funding led by Sequoia India. The startup’s other initial investors include Ashish Gupta, Founder of Junglee.com and Helion VC; Deb Henretta, Partner, G100 Companies and Ex-Group President, P&G; Arijit Sengupta, Founder of Kradle Ventures and Antuit Inc; Deborah Kops, Ex-…
Zomato Media Private Ltd has announced to acquire Uber’s Food Delivery Business in India, UberEats, in an all-stock transaction. As per a stock exchange filing by Zomato, the deal gives Uber a 9.99% stake in the company. Post-acquisition, UberEats will discontinue operations in India that include direct restaurants, delivery partners and users of its apps.…
Former Flipkart CTO Ravi Garikipati has launched a financial services and micro-credit startup along with serial entrepreneur Raj Vattikuti, who in 2007 had sold his company Covansys to Computer Sciences Corp for $1.5 billion. The duo, who have been friends for a long time, has seeded the venture, Davinta, with ₹140 crore of personal money.…
The Catalyst Fund has gained $15 million from JP Morgan and UK Aid as a means to support and back 30 fintech startups in Africa, Asia, and Latin America in the next three years. Catalyst Fund, a Boston based accelerator, provides mentorship and non-equity funding to early-stage tech ventures that are primarily focused on driving…
Zomato raises ₹353.58 crore in fresh funding from Antfin Singapore, according to the company’s filings reported in the business intelligence platform Tofler. The funding, part of the Zomato’s Series J financing round, is the first tranche of the $150-million fund raise announced by the company last week. Post this investment, Zomato’s fund tally will stand…
Falcon Edge Capital, a New York-based hedge fund, has raised $45.7 mn for its first India-focussed fund called Falcon Edge India I LP. Falcon Edge India I LP is a pooled investment fund that will primarily focus on private equity investments in India. So far, the fund has 9 investors on board. As per their…
Jeff Bezos, Founder, Amazon.com Inc., three-day visit to India has come to an end. In his visit, Bezos has promised to create a million jobs in India by 2025. “It’s still Day 1,” the American billionaire mentioned in a direct message to “customers, sellers and partners” that was posted on Amazon.in. A media statement was issued…
Mahindra First Choice Wheels Ltd, step down unit of automaker Mahindra & Mahindra Ltd, will acquire automotive portal CarandBike.com from NDTV Ltd and other shareholders to further its digital presence. The company will purchase 100% of CarandBike.com for up to Rs 30.45 crore, the automaker said in a stock-exchange filing. NDTV said in a separate…
Alphabet, the parent company of Google on Friday crossed the $1bn valuation mark. With this Alphabet became the fourth tech company to cross $1trillion milestone. Alphabet joins Apple, Microsoft, and Amazon in the exclusive club. Amazon passed the $1trillion mark in September 2018 but its current value is estimated at $931bn. Apple was the first…
Piramal Enterprises Ltd to sell its healthcare analytics unit Decision Resources Group to US-based Clarivate Analytics Plc for $950 million. The company will get $900 million at the time of closing the deal and the remaining $50 million after one year, it said in a statement. The deal is likely to be completed on or…
The Mumbai-based global pharma company, Wockhardt, on Thursday became the first Indian company to get the Drug Controller General of India (DCGI) approval for two of its novel antibiotics, Emrok (injectable) and Emrok O (oral). The new antibiotics will be launched in the next few months in domestic as well as Chinese markets. The antibiotics…
AppSheet, a no-code development platform for application software, has been acquired by Google and will soon join the Google Cloud team. AppSheet was founded by Praveen Seshadri in 2014. In a company blog, Praveen Seshadri, the Founder and CEO of AppSheet, informed about this and stated, “Today, I’m pleased to announce that AppSheet has been…
Hero Cycles Ltd has acquired a stake in German premium e-bike maker HNF Nicolai. The company’s move is to tap the overseas market. Along with Hero, a German investment trust IBG Beteiligungsgesellschaft Sachsen-Anhalt mbH has also bought the stake in the German e-bike maker. Financial details of the transaction remain undisclosed. In their joint collaboration,…