Below is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:
1. Baba Ramdev's Patanjali launches Kimbho app to compete with WhatsApp. User can download it directly from the Google Play Store. (Update: The Kimbho messaging app appears to have been taken down from the Google Play Store duo to security flaws).
2. Digital retail payments platform, Pine Labs, has announced that Temasek and PayPal Holdings Inc have acquired minority stakes in the company for a combined $125M.
3. Rajasthan government has added another programme to its host of women-related schemes: e-Sakhi. ‘Sakhi’ in Hindi means friend while ‘e’ refers to ‘electronic’.
4. Dairy-tech startup Stellapps has added Bill and Melinda Gates Foundation and IndusAge Partners to its list of investors, raising $14M in a recent funding round. Read More...
5. Income Tax department has started examining one of the biggest acquisition deals so far in Indian ecommerce, The Flipkart-Walmart deal. Flipkart has responded to the details of the acquisition while Walmart is yet to file its explanation.
6. Infibeam, India’s first listed ecommerce entity, saw its FY18 revenue jump 90% on a year-on-year basis to Rs 839.3 crore and recorded its highest ever increase of 102% in net profit to Rs 88.1 crore.
7. The Indian arm of co-working space giant WeWork, is talking to Goldman Sachs and Warburg Pincus, among others, to raise up to $200 million.
8. Mobikwik chief executive officer Bipin Preet Singh said that within seven days of its launch the company has created 5 million 'ikwik' handles for its consumers.
9. Treebo Hotels has made its first buyout, having acquired online events discovery platform Events High for an undisclosed sum.
10. China’s Xiaomi may start making television sets in India from the next quarter in partnership with Taiwanese contract manufacturer Foxconn.
11. For the quarter ended March 31, MakeMyTrip, which had a market cap of $3.20 billion as of Wednesday, reported loss of $44.1 million, or 42 cents a share, down from $73.1 million, or 93 cents a share on a diluted basis.
12. Amazon Pay, the payments arm of Amazon India, saw losses of Rs 177 crore in FY17, while its income was only Rs 7. 4 crore, as the company spent heavily on advertising and promotions.
13. German automaker Daimler leads $175M investment in Uber's European rival Taxify
14. Salesforce reported net income of $344 million in the first quarter ended April 30, compared with $1 million a year earlier.
15. Wipro Ltd. Chairman Azim Premji is backing another U.S. startup, leading a $100 million round in e-commerce fraud-prevention company Signifyd.
16. Hyderabad-based fintech startup CredRight has raised Rs. 9 crore in pre-Series A funding from Accion Venture Lab, the world’s leading seed-stage investor, YourNest, an early stage venture capital fund & few prominent angels. Read More...
17. Google has launched a new Android app in beta called Neighbourly targeted at neighbourhood communities. The app allows users to ask questions to their neighbours by text or by voice, share local expertise and keep up with updates from their neighbourhood.
18. Reliance Group has sold its 60% stake in Codemasters, a British game-developing company, for Rs 1,700 crore. The stake-sale nets a return of over 25 times for the diversified enterprise.
18. Alphabet Inc’s Google has launched a file managing app 'Files Go' in China.
19. IIFL Asset Management Launches IIFL India PE Fund Focusing on Professional Entrepreneurship. Read More...
20. Shopmatic Joins Hands with Arvato for Global Expansion. Read More...