Connecting Businesses with Opportunities in India

Funding Startups in India - An update, March 05

March 05, 2019

1. The Central government is planning to launch a national centre for artificial intelligence. The centre is expected to be operational by July and work has begun for a launch.

2. Singapore's XSEED Education has acquired Chennai-based edtech startup Report Bee for an undisclosed amount.

3. R2 Data Labs, an innovation lab by British luxury automobile maker ‘Rolls-Royce’, will launch a startup accelerator in Bengaluru in April this year to develop a collaborative ecosystem of digital partners in India

4. Ankur Capital plans to use its ₹300 crore fund to write bigger cheques, make riskier bets and make greater investments in successful portfolio companies, reports DealStreetAsia.

5. Venture capital firm A91 Partners has reportedly invested ₹60-70 crore in Mumbai-based make-up brand Sugar Cosmetics.

6. Online pharmacy Medlife International has acquired Medlabz, a digital healthcare platform and home diagnostics services company for an undisclosed amount.

7. After breaking up with Flipkart in May 2018, eBay has relaunched in India on New Years’ Eve.

8. In collaboration with WhatsApp, StartupIndia has launched a microsite for the registration of Startup India – WhatsApp Grand Challenge. The initiative will grant a total of $250,000 to the top 5 winners.

9. MakeMyTrip plans to opt out of the government scheme on accreditation of OTAs and bed-and-breakfast establishments.

10. Indonesian ride-hailing firm Go-Jek has raised around $1 billion in a funding round, led by Alphabet's Google, and Tencent Holdings, reports ET.

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