India Startup Funding Update, Oct 5
Oct 5, 2018
1. Flipkart-owned PhonePe is in talks with a couple of investors to raise fresh capital up to $1 billion to maintain the lead in payment space, reported LiveMint.
2. Paytm Mall, the e-commerce platform of Paytm, is reportedly in talks to acquire a majority stake in online grocer BigBasket, reported BS.
3. Jakarta-based point-of-sale (POS) provider Moka has acquired Mumbai-based contextual marketing company GetFocus for an undisclosed amount.
4. Gurugram-based agri-tech startup Origo Commodities has raised Rs 80 Cr (USD 11.4 Million) funding from impact investors such as Netherlands-based Oikocredit, Triodos Investment Management, and Caspian SME Impact Fund IV.
5. Delhi-based online skill-based gaming startup 9stacks has closed a Series A round of funding after raising Rs 28 Cr (USD 4 Million) led by WaterBridge Ventures.
6. Delhi-based online tea brand Vahdam Teas has raised Rs 16 Cr (USD 2.3 Million) in its third institutional round of fundraising led by existing investor Fireside Ventures.
7. Chinese smartphone maker OPPO is planning to set up its first India research and development (R&D) centre in Hyderabad.
8. Healthful food brand Snackible has raised an undisclosed amount from Mumbai Angels Network and 1Crowd’s angels as well as fund.
9. MP Chief Minister Shivraj Singh Chouhan said that the youths of the State will be provided loan up to Rs 10 lakhs without interest and seed capital for startups.
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