500 Startups to Make 10-12 Investments in Indian Startups This Year, White Owl Brewery Bags Funding & More
Silicon Valley-based venture capital fund and accelerator 500 Startups is on track to make 10-12 investments in Indian startups this year.
Here is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:
1. Indian ecommerce company Flipkart is reportedly planning to launch a ‘one-stop’ mobile app. Users will now get a chance to order food, hail a cab, plan a vacation, or buy daily essentials. The company is in preliminary talks to partner with food, cab and travel aggregators for its ‘app-of-apps’. The company is planning to roll out the mobile app by the end of this year, reported ET. The mobile app will boost customer loyalty and monetise huge volumes of customer data, thereby adding channels of revenue.
2. Online sellers at ecommerce firms such as Flipkart, Amazon India, and Snapdeal have urged the government to bring in a regulator for ecommerce. The All India Online Vendors Association (AIOVA) – a community of around 2,000 online sellers – has drafted a petition wherein it has alleged that ecommerce firms including Flipkart, Amazon, and Snapdeal have been violating existing marketplace rules of government, as reported by ET. The petition thus demands that steps need to be taken to protect both sellers and buyers in the times to come.
3. Amazon India has leased 6 Lakh sq. ft. under construction property in Madhapur suburb of Hyderabad. Reportedly, this is one of the largest office space deals this year. The deal was closed last week.
According to a person close to the development, the office space will be rented in two phases. In the first phase, 250K sq. ft. space will be occupied. Amazon will further have the option to extend it to 6 Lakh sq. ft. over next one and a half year. “Amazon will be paying a rent of INR 54 per sq. ft.. The facility will get ready by December,” he added.
According to ET report, the new facility will cater to the overall ecommerce business of Amazon. Amazon also operates a number of other global services from India that may require office space. This includes logistics, IT services, warehousing facilities, etc.
4. White Owl Brewery Pvt. Ltd, a Mumbai-based craft beer maker, which also runs a gastropub in the city, has raised a fresh round of funding from a clutch of investors, reported VCCircle.
5. Former top-level employees of general insurance company Bajaj Allianz Vijay Kumar, V Philip and Jasleen Kaur; former senior vice president – marketing at Snapdeal Sandeep Komaravelly; and former vice president – customer experience at Myntra Sriram Shankar, have come together to float Digit, a tech-driven insurance startup. Bangalore-based Oben General Insurance Ltd, which runs the venture, has received preliminary approvals from the Insurance Regulatory and Development Authority of India, Komaravelly told TOI, adding the plan was to launch in 6-12 weeks.
Digit has secured the backing of Canadian billionaire Prem Watsa’s Fairfax Holdings, which has partnered former Allianz executive Kamesh Goyal for the venture. The startup will begin with a paid-up capital of Rs 385 crore, and Fairfax will control 45% of the firm while the balance will be held by Indian investors led by Goyal.
6. Silicon Valley-based venture capital fund and accelerator 500 Startups is on track to make 10-12 investments in Indian startups this year, as reported by ET.
“The priority is to invest in more companies in India. Several of our other micro funds, such as 500 Fintech, 500 Distro and 500 Durians, apart from the 500 Startups Fund itself, are looking at India to invest,” according to venture partner Shalini Prakash, who heads India investments and operations for the firm.
500 Startups, which has invested in more than 60 Indian startups since it began investing in the country in 2012, saw its highest number of investments in 2015, when it made more than 20 deals in the country.
7. Times Group has appointed Thane Richard as the Head of Content Strategy for its international investments and partnerships division Times Bridge.
In this role, Richard will shape the content strategy for Times Bridge’s media businesses, while also attracting more of the world’s leading storytellers to the Indian market, reported ET.
Read More deals here.
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