#TodayDeals: Google to Invest $550M in Alibaba Rival, GameStop in Talks with PE Firms for Potential Buyout & More

Google will invest $550 million in Chinese e-commerce powerhouse

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

1. e-grocery platform BigBasket is reportedly in talks to acquire a majority stake in smart vending machines startup Kwik24.

2. Google will invest $550 million in Chinese e-commerce powerhouse

3. Digital payments major Paytm has acquired Delhi-based technology startup Cube26.

4. Video game and electronics retailer GameStop is holding talks with private equity firms about a potential transaction after receiving buyout interest.

5. Online automobile marketplace Droom has increased its marketing budget by over 75% to Rs 400 crore for the fiscal ended March 2019.

6. According to RoC filings, Delhi-based co-working spaces provider Innov8 has posted a revenue of Rs 1.95 crore in FY17 as compared to Rs 36.25 lakh in the previous fiscal. Meanwhile, the company’s losses jumped to Rs  2.59 crore in FY17 from Rs 1.64 lakh in the preceding fiscal.

7. Thimpu-based SAARC Development Fund (SDF) will soon be launching a social enterprise development programme (SEDP) to fund 80 entities annually across the 8-member states including India.

8. Security and surveillance equipment maker Prama Hikvision will invest ₹500 crore in India over the next few years.

9. Rental marketplace RentSherraises $1.1 million in funding from Shorooq Investments, Latitude Consultants and other angel investors

10. T-Hub, the startup incubator set up at the initiative of the Telangana government, and American tech conglomerate Otis Elevator Co., today joined forces to launch the Otis Innovation Challenge for tech startups.

11. InCred, the Mumbai-based new-age financial services consumer & SME lending platform, has appointed Vivek Bansal as its Chief Financial Officer.  

12. GSF opens applications for ‘FinTech Accelerator 2018’ with bid to invest up to $200k

13. OML Technologies Private Limited, the owner and operator of omlp2p, an online Peer-to-Peer lending marketplace, has received its Certificate of Registration (CoR) from the Reserve Bank of India (RBI), thus officially establishing itself as an NBFC-P2P.

14. Gray Matters Capital has selected eight startups for the first cohort of its accelerator program, GMC Calibrator including Laqsh Job Skills Academy, MadGuy Labs, Meghshala, Million Sparks Foundation, Multibhashi, Ockypocky (WhizKidz Media Pvt. Ltd), Sarkari Pariksha (Graposs Edutech) and Stones2Milestones.

15. After elevating its India and South Asia Head Amit Jain as Head of Asia Pacific, Uber has now filled his position by elevating Pradeep Parameswaran, who has been leading Operations in India and South Asia. 

16. Google has reportedly killed the ability of direct Uber ride booking from inside Google Maps without giving any reason, reported ET.

17. Belgium-based Incofin Investment Management, which holds equity in India’s top microfinance companies, is now planning an $80-million fund exclusively for investing in India to expand its investments into food and agricultural sectors.

18. Chrysalis, an edtech startup operated by EZ Vidya Pvt. Ltd, has raised an undisclosed amount in fresh capital from two institutional investors - Menterra & Artha India.

19. The wealth management arm of IIFL Holdings Ltd has decided to raise Rs 745.71 crore (about $110 million) from a clutch of investors including Hong Kong-based Ward Ferry and existing private equity backer General Atlantic, reported VCCircle.

20. India- and US-based data science startup, Elucidata Corporation, has raised $1.7 million in seed funding led by Hyperplane Venture Capital.

21. Bengaluru-based Autoninja, a firm that makes software for automobile dealers, has raised funding from existing investor SAIF Partners, valuing the firm at Rs 147 crore ($21 million), reported VCCircle.

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