Below is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:
1. Digital payment platform, ToneTag, has raised between $8-10 million from a group of investors led by Amazon Inc. and Mastercard.
2. Bigbasket is in advance stage with RainCan and Mumbai-based SuprDaily for potential acquisition, reported Entrackr.
3. The wholesale B2B arm of online grocery delivery startup BigBasket, Supermarket Grocery Supplies, has made an operating loss of Rs 312 crore in FY17, up from Rs 277 crore during the previous fiscal, reported ET.
4. Facebook Inc. is set to launch its WhatsApp payment services to the whole of India as early as next week, reported LiveMint.
5. Hero Electronix, the technology arm of Hero Group, has announced the acquisition of a Gurgaon-based Internet of Things (IoT) focused enterprise Zenatix.
6. Paytm-owner One97 Communications said that its value added services business generated profit of Rs 49 crore in financial year 2017 against Rs 22 crore a jump of 122% even when its revenues actually dropped marginally between 2017 and 2016.
7. Vokal, which runs a knowledge-sharing platform, has acquihired quizzing app firm StupidChat Technologies in an all-stock deal.
8. GrowthStory-backed Qtrove, a curated marketplace for natural, handmade and sustainable products has raised Rs 350 crore from Springboard Ventures, an investment arm of Bennett, Coleman & Co Ltd (BCCL).
9. One97 Communications, which is the parent company of Paytm, has reduced its losses to Rs 899.6 crore in the financial year 2016-17 compared to the previous fiscal, as per regulatory documents.
10. International Finance Corporation, a member of the World Bank Group, has proposed to invest about $40 million in Time Technoplast Limited (TTL), an Indian manufacturer of polymer-based industrial packaging products.
11. UK private equity firm Actis in investing up to $220 million equity capital in Indian non-banking financial company Profectus Capital.
12. Credit Saison of Japan and Temasek Holdings of Singapore are among leading investors engaged in talks with Fino Paytech to buy a significant minority stake, reported LiveMint.
13. BlaBlaCar and AXA have launched a new car insurance product which will be launched initially in France and will offer insurance protection for drivers that use the BlaBlaCar service.
14. Tyroo, a Smile Group company, has forged a strategic partnership with Snapchat as their monetization partner in India. Through this partnership Tyroo will drive ad monetization and infrastructure for Snapchat, fuelling its growth in the APAC region.