#TodayDeals: Tendulkar-backed Smaaash Looks to Raise $73M in IPO, Flipkart Adds Recharge, Travel Tabs & More
Sachin Tendulkar-backed Indian virtual sports and entertainment company, Smaaash Entertainment Pvt. Ltd, is planning to launch its initial public offering (IPO) to raise Rs 500 crore.
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Below is a list of deals that happened in Indian Startup Ecosystem today (18th July 2018). Read a brief description about all of them:
1. Cars24, the online marketplace for buying and selling used cars, has completed an investment raise of about $50 million (Rs 340 crore) to fuel its expansion plans, from Sequoia Capital India and two of Cars24’s existing investors — Cayman Islands-based Kingsway FCI Fund and Toronto-based KCK Global.
3. Flipkart has added two new tabs on its mobile application — ‘Recharges’ and ‘Travel.’ The first tab redirects the customer to Flipkart’s payments platform PhonePe, and the second tab takes the user to MakeMyTrip to book travel tickets.
4. Yes Bank is collaborating with 10 ‘smart cities’ for use of its Yes Scale Smart Cities accelerator to tackle the challenges of urban development.
7. Discount broker 5Paisa.com is planning to raise about Rs 103.5 crore through a rights issue to enter the peer-to-peer (P2P) lending business, reported LiveMint.
8. Zaggle, a payments and group dining company backed by Dubai-based investors, has acquired Hyderabad-based payments firm Click&Pay in a cash-and-stock deal.
9. Sachin Tendulkar-backed Indian virtual sports and entertainment company, Smaaash Entertainment Pvt. Ltd, is planning to launch its initial public offering (IPO) to raise Rs 500 crore from the market, reported DealStreetAsia.
12. The Narendra Modi government is winding up a flagship eBiz portal launched by the Congress-led United Progressive Alliance (UPA) government, which was supposed to act as a one-stop facility for businesses to obtain government licences and clearances as well as reduce red tape and improve transparency, reported LiveMint.
13. Subscription-based online media publication, The Ken has raised $1.5 million Series A round led by Omidyar Network.
15. The tourism ministry of India has roped in Google to showcase 3D rotating views and a virtual reality experience of Indian monuments on its Incredible India website.
16. Oracle has formally launched its much-anticipated blockchain service “Blockchain Cloud Service” for enterprises that will help businesses build Blockchain networks to drive efficient transactions.
17. N/Core, a non-profit startup incubator, has partnered with IT firm Mphasis, which will invest over Rs 4.5 crore to support startups working in the social and development sector.
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