Here is a list of deals that happened in Indian Startup Ecosystem today including funding, merger, acquisition, product launch & appointment etc.
1. Jaipur-based ed-tech startup Nactus India Services Pvt Ltd has raised an undisclosed amount from a group of angel investors. Read More
2. Emojifi, an app that provides live emoji, sticker and graphics interchange format (GIF) suggestions based on the typed words across chat platforms, has raised angel funding from two Hyderabad-based unnamed angel investors. Read More
3. Infibeam Incorporation Ltd, the parent of online marketplace Infibeam and e-commerce enabler BuildaBazaar, is acquiring Ahmedabad-based DRC Systems Pvt. Ltd through its wholly-owned subsidiary NSI Infinium Globle Pvt Ltd. The two companies have signed a memorandum of understanding (MoU) to this effect. Read More
4. Chinese telecom company LeEco has laid off 85% of its staff in India, including two leadership exits. As per sources close to development, the layoffs are a precursor to the company’s eventual exit from India. Read More
5. Nirmala Sitharaman, Minister of State (Independent Charge) for Ministry of Commerce & Industry has stated that she is going to inquire about vendors’ complaints of default payments by Snapdeal. Read More
6. Home-grown mobile phone maker Micromax Informatics Ltd. plans to invest up to Rs 600 crore over the next three years to transform itself into a consumer electronics company. Read More
7. Cognizant said it acquired Japanese digital IT firm Brilliant Service Co for an undisclosed amount, as it continues its buyout spree. Read More