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Deals RoundUp: BookYourGame, LetsVenture, Yatra.com, mGaadi, Indian Govt, BlackBerry, HCL Infosystems and Flipkart

Canadian smartphone maker BlackBerry on Friday has partnered with HCL Infosystems to expand the channel and distribution network for BlackBerry enterprise software products and services in India.

Photo Credit : media.truelocal.com.au,

Fitness Startup BookYourGame Raises Funding

Fitness startup BYG (BookYourGame), which lets users book fitness centres for sessions without a membership, has raised an undisclosed amount of funding in a round led by Sanjay Verma, former chief executive officer (CEO), Cushman & Wakefield, Asia Pacific, and Amit Khanna, managing partner, Antuit-Europe.
The deal was conducted through deal-making platform LetsVenture.

The startup, run by Bookyourgym Fitness Pvt. Ltd, was launched by two former Goldman Sachs employees in February this year, and plans to use the funds for marketing expenses.

Yatra Acquires Bangalore Based MGaadi

Gurgaon-based travel portal, Yatra.com, has acquired mGaadi, a Bangalore-based auto rickshaw aggregator. The terms and conditions of the deal are still undisclosed.

Founded in 2012 by Solomon JP and Vishy Kuruganti, mGaadi is a commuting service from India Drivers Network, a Bangalore-based social enterprise. The startup is building a location-based network of auto rickshaw drivers.

Indian Govt Removes 'Angel Tax' for Investors to Boost Startups


The Indian government has removed the so-called 'angel tax' for investors providing funding to startups under its ambitious plan to boost entrepreneurship and job creation in the country.

Funding to startups, notified under the government-approved plan announced by PM Narendra Modi in January, will not face tax even if it exceeds the face value.

Under existing rules, funds raised by an unlisted company through equity issuance are covered under this tax to the extent the amount is in excess of the fair market value.

BlackBerry Partners With HCL Infosystems For Distribution of Enterprise Products & Services


Canadian smartphone maker BlackBerry on Friday has partnered with HCL Infosystems to expand the channel and distribution network for BlackBerry enterprise software products and services in India.

"By working with an established partner like HCL Infosystems in India, we aim to create growth for our partners while giving our customers wider access to our leading suite of enterprise solutions with world-class support, helping organisations advance their mobility strategies," said Richard McLeod, vice president, Global Channels at BlackBerry, in a statement.

The partnership will enhance the availability of BlackBerry's enterprise mobility portfolio to business customers by leveraging HCL Infosystems' extensive pan-India network of enterprise distribution partners.

Flipkart Might Raise Debt Fund of $300M

Flipkart is in talks with Indian banks to raise $300 million after efforts to raise venture funding at $15 billion valuation failed to materialize, as per VCCircle report. The Bangalore-based e-commerce player had pledged assets worth Rs 1,200 crore in December last year. The company might have to borrow at a high interest rate because it does not have enough assets against which the loan will be taken. Flipkart’s valuation has been downgraded to $9.4 billion from $15 billion by various US-based financial institutions, the latest being Morgan Stanley in May.



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