Deals RoundUp: Monster, Randstad Holding, AngelList, Syndicates, Walmart, Jet.com, Zhudao, Fossil Group, Misfit, DST, NIDHI, Intel, SINE & PlugIn
Global tech company Intel will launch a hardware incubator program called Plugin, to boost the hardware startup ecosystem in the country.
Photo Credit : locatory.com,
Job Portal Monster Being Acquired by Randstad Holding For $429M in Cash
Monster Worldwide, one of the oldest job portals, is being acquired by Amsterdam-based human resource services provider Randstad Holding for a deal amount of around $429 million in cash. This acquisition will enable Randstad to expand its services to offer both clients and candidates tools for "increased efficiency and engagement". It plans to leverage Monster's multiple distribution channels to build a comprehensive portfolio of HR services, reported ET.
Monster will however continue to operate as a separate and independent entity under the same name. The deal is expected to close in Q4 2016.
US-based Investment Crowdfunding Platform AngelList Launches Syndicates in India
US-based investment crowdfunding platform AngelList that was founded in 2010 by India-origin serial entrepreneur Naval Ravikant along with Babak Nivi, is planning to launch its private single-deal venture capital funds led by top angels, called syndicates, in India.
The syndicates allow experienced technology investors to create a single VC fund that raises money from institutions and sophisticated angel investors. Utsav Somani, former Delhi chapter lead of LetsVenture and a member of the Indian Angel Network, has been appointed to lead the India efforts.
“My role will consist of opening dialogue with government officials and regulators with suggestions that’ll benefit startups and investors in India. I’ll map out the Indian regulatory framework so AngelList can come in with their pop-up VC structure that enables venture investing online at scale,” Utsav said in a blog post on Medium.
Walmart is Buying Its Online Rival Jet.com for $3B
Walmart has signed a definitive agreement to buy its online rival Jet.com for an amount of $3 billion in cash, a portion of which will be paid over time. Additionally, $300 million of Walmart shares will be paid over time as part of the transaction.
The acquisition, which is subject to regulatory approval, has been approved by the Boards of Directors for both companies and is expected to close this calendar year.
Walmart and Jet will maintain distinct brands, with Walmart.com focusing on delivering the company’s Everyday Low Price strategy, while Jet will continue to provide a unique and differentiated customer experience with curated assortment. Walmart and Jet will leverage innovative technology solutions from both companies to develop new offerings to help customers save time and money.
Gurgaon Based Zhudao Invites Indian TMT Startups for Demo Day on 12th August 2016
Gurgaon based investment and consultancy firm Zhudao is inviting Indian TMT startups (Technology, Media and Telecommunications) for demo day on 12th August 2016. The event will be hosted at Ibis Hotel, Gurgaon and the startups would get an opportunity to pitch their products in front of a panel of foreign investors.
To sign up for the event, click here.
Fossil Group Merges Technology and Fashion: Launches Misfit in India
Today Fossil Group has announced the launch of American wearables brand, Misfit in India with – Shine 2 and Ray Fitness and Sleep Monitor.
"Always on"; the Shine 2 and Ray are truly 24/7 devices that require no charging (the user-replaceable batterieslast up to 6 months) and are water resistant to 50 meters, which allows users to wear it at all times even when swimming or in the shower. Like Shine 2, Ray provides inactivity nudges, text and call notifications, and a silent alarm. Shine 2 and Ray are more than just activity trackers. Compatible with Misfit Link, a ground breaking software experience that turns wearable into a remote to connect with the world around you, communicate with friends, turn your lights on, change your music, take a selfie and more, all with a triple tap.
Further details about Shine 2 and Ray:
Shine 2 is an elegantly designed Fitness and Sleep Monitor that leverages the best of its award-winning predecessor Shine's sleek aesthetic. Users can easily see progress and tell time in a halo of rainbow-colored lights, and get motivated with Misfit Move, a feature that encourages users to be active with a vibrational nudge.
Only 12mm in diameter and 38mm long, Ray’s sleek form factor and clean lines make it uniquely wearable. Ray comprises a highly customizable cylindrical aluminum body. Ray’s minimalist form conceals powerful engineering. It tracks activity and sleepwith a 3-axis accelerometer and, like Misfit Shine 2, incorporates a vibration motor that allows for nuanced user feedback.
Launch exclusively with Amazon, Misfit is now rolling out to key lifestyle and watch retailers such as Shoppers Stop, Ethos, Helios and Just in Vogue.
DST Launches $15 M Programme to Support Startups in India Under New Initiative - ‘NIDHI’
The Department of Science and Technology (DST) has launched a $15 Mn (Rs 100 Cr) programme to support startups in India under a new initiative NIDHI (National Initiative for Developing and Harnessing Innovations).
NIDHI, would help the startups with initial funding. Startup-NIDHI would financially support each of the selected startups with $15K (Rs 10 lakh) which will be given as ignition grant/award.
Startup-NIDHI aims to provide financial support to 20 student startups each year. The startups essentially have to be student startups and should be a student startup of IEDC/NewGen IEDC. Startups selection would be through a national level competition.
Intel, SINE And DST Collaborate To Launch Hardware Startup Incubator ‘PlugIn’
Global tech company Intel will launch a hardware incubator program called Plugin, to boost the hardware startup ecosystem in the country. It has also made tie-ups with IIT Bombay’s Society for Innovation and Entrepreneurship (SINE) and the central government’s Department of Science and Technology (DST), for a period of three years.
Under this initiative, around 20 intellectual property-driven hardware and system startups will get incubated in the first year. The initial focus would be on selecting hardware startups working in areas such as security, graphics, display, Internet of Things, healthcare, data centres and cloud.
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