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NRL Launches Rs 10 Cr Fund for Assam Startups, Tencent Invests $100-150M in Indonesia's Go-Jek & More

Infosys Finacle, part of Infosys-owned subsidiary EdgeVerve Systems, has partnered with Singapore-based fintech company Active.AI to offer enterprise Artificial Intelligence (AI)-based platform for banks globally.

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

1. Assam-based Numaligarh Refinery Limited (NRL) has come up with a fund of Rs 10 crore which will come as a grant for startup venture.

Commenting on the development, P.Padmanabhan, Managing Director, NRL said, “We want to create entrepreneurship ecosystem in Northeast India. Once the ideas are submitted, jury will evaluate the same. We will evaluate if the project requires seed funding, scale up funding or any other assistance. We will tie up with incubation Centre.”

According to Padmanabhan, the company will hire domain expert to assist the startup venture. He further stated that if the present fund is exhausted they will add more as for them funding is not a problem.

Assam government is in the process of formulating a Start-up policy and will soon come up Start-up Innovation Centre. 

2. Indonesian ride-hailing startup Go-Jek which already counts global private equity firms KKR & Co LP, Warburg Pincus LLC and venture capital player Sequoia Capital as investors, has raised around $100-150 million from China's largest social media and online entertainment firm Tencent. 

Go-Jek is also seeking to raise more funding from new as well as existing investors. The startup aims to raise up to $1 billion from its current funding round, the sources, who are familiar with the matter told ET.

Also Read: Foxconn to Invest $5B in India, Ronnie Screwvala to Infuse Rs 100 Cr in UpGrad's B2B Segment & Capsula.Studio to Launch a Startup Accelerator

3. Infosys Finacle, part of Infosys-owned subsidiary EdgeVerve Systems, has partnered with Singapore-based fintech company Active.AI to offer enterprise Artificial Intelligence (AI)-based platform for banks globally.

The platform, in integration with Finacle, will help financial institutions offer conversational banking services through chat and voice-based interfaces across their digital channels.

The joint solution will use AI to better understand customer interactions across channels. With this, the end customers will be able to interact with software bots in natural language through voice and chat interface to access account information, pay bills, make transfers and access several other banking services.



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