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#DealsRoundUp: NITI Aayog to Fund 80 Incubation Centers, iPhone Assembler Wistron to Invest Rs 3,000 Cr in Karnataka & More

NITI Aayog, will fund 80 incubation centers in 2nd phase of start-up India program. In the first funding phase, it had selected only 19 incubation centers.

Photo Credit : ShutterStock,

Below is a list of deals that happened in Indian Startup Ecosystem today (25th July 2018). Read a brief description about all of them:

1. General insurance startup Digit Insurance has raised Rs 315 crore ($45M) in a second round of funding from Fairfax Holdings.

2. Co-working space provider Awfis has raised $20 million in series C funding from its existing investors Sequoia Capital, The Three Sisters: Institutional Office (TTS:IO) led by Radha Kapoor and Temasek-backed InnoVen Capital.

3. NITI Aayog, will fund 80 incubation centers including Atal Incubation Centers and Established Incubation Centers (EICs), across the country, in 2nd phase of start-up India program. In the first funding phase, it had selected only 19 incubation centers.

4. Taiwanese contract manufacturer Wistron, which makes iPhones for Apple in India, may raise its investment in Karnataka facility to Rs 3,000 crore.

5. Kishlay Foods which manufactures snacks, chips and biscuits has raised $15 million (Rs 100 crore) in its latest round of funding. 

6. Online lending marketplace Paisabazaar claims to has disbursed Rs 5000 crore of unsecured loans through its platform since its inception in early 2014.

7. Arrivae makes a strategic investment of $1 million in Modspace, to extend Modspace products to full home interiors 

8. T-Hub ties up with 6 Global tech giants - Amazon Web Services, DigitalOcean, Google Cloud, HubSpot, Microsoft and Zoho, to help all the startups of its cohort-based incubation programme Lab32™.

9. Aye Finance, the fintechcompany, has expanded its reach to 100 cities in 11 Indian states.

10. VoxWeb, the Singapore headquartered social media company today announced its plans to launch its crypto-currency, Vollar that will enable the company to monetize through social-commerce and fin-tech based solutions, without any need to serve targeted ads. 

11. Udacity, global pioneer in lifelong learning, announced 200% revenue growth in their India business from 2016 to 2017. 

12. B2C e-commerce company SaleBhai.com, is all set to make an initial public offer (IPO) on the 27th of July and looks to raise Rs 23.73 crore.

13. LoginRadius, New Delhi-based Customer Identity and Access Management (cIAM), announced today a $17M Series A Funding led by ForgePoint Capital and Microsoft’s venture fund, M12.

14. Grofers wants to completely move to a 100 percent private label firm in two to three years, Co-Founder Saurabh Kumar told BloombergQuint. 

15. Altizon Systems Pvt. Ltd, which operates a platform for developing solutions based on industrial Internet of Things (IIoT), has raised around $1 million in a fresh round of funding, reported VCCircle.

16. In an internal letter to their employees, Snapdeal founders Kunal Bahl and Rohit Bansal said that Snapdeal achieved positive cash flow in the month of June this year and have no current and future dependency on any external funding now.

17. Hero MotoCorp Ltd is investing Rs 130 crore ($19 million) more in electric scooter startup Ather Energy Pvt. Ltd, Hero MotoCorp said in a stock-exchange filing. 



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