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#TodayDeals: Zodius Capital Increases Stake in Zivame, Hike Laying Off 25% Of Its Workforce & More

Technology-focussed investment firm Zodius Capital is buying out shares held by early venture capital backers, Kalaari Capital and IDG Ventures India.

Below is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:

1. Investment firm Zodius Capital has increased its stake in lingerie retailer Zivame by buying out shares held by early venture capital backers, Kalaari Capital and IDG Ventures India. Read More...

2. eCommerce giant Amazon has led a $12 million (Rs 81.27 crore) funding round in Acko Technologies, which owns online general insurance provider Acko General Insurance, with Ashish Dhawan, founder of private equity firm ChrysCap also coming on board. Read More...

3. IBM appoints Samiron Ghoshal as new global business services head in India

4. iNurture, a higher education programmes provider, has acquired student engagement and employability platform, KRACKIN. 

5. Hike Messenger has begun laying off 20-25% of its workforce, with a significant portion of the affected employees coming from its two acquisitions that it announced last year including hardware maker Creo and social networking venture InstaLively. 

6. Billionaires Mukesh Ambani, Binny Bansal and Sunil Munjal have been approached for participating in a Rs 1,000-crore domestic fund the former ICICI Venture CEO Renuka Ramnath is raising as part of the $1 billion being garnered globally. 

7. NITI Aayog’s CEO Amitabh Kant said on Sunday that the Aayog will soon launch a new portal that will allow private organisations, especially startups, to use public data available with various ministries for innovation and come up with sector-specific solutions. 

8. Chinese content aggregator NewsDog has announced the beta launch of blockchain technology on its app for android users, for migrating features that enable users to receive ‘cryptocurrency’ by engaging with different types of content on the app.

9. The Income Tax Department, on May 24, issued a notification that an angel investor with a minimum net worth of Rs 2 crore or an average returned income of over Rs 25 lakh in the preceding three financial years would be eligible for 100 percent tax exemption on investments made into start-ups above fair market value. 

10. 91springboard associates with International Enterprise to help Singapore-based companies establish operations In India. Read More...

11. DCF Ventures brings Israel based open innovation platform SOSA to India. Read More...

12. A few weeks after launching its operations in Kolkata, MobileWalla, the US-based next-generation consumer data company, has raised $12.5 miliion in a Series B funding round.

13. Uber has promoted its India head and South Asia president Amit Jain as Regional General Manager for Asia Pacific region. 

14. Lenovo India has appointed Ashish Sikka as director-SMB.  



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