EntryIndia
India Startup Funding Update, Dec 13
Updated Dec 13, 2018 01:58 pm
Dec 13, 2018
1. Paytm has reportedly held discussions with Alibaba-owned browser UCWeb for an acquisition of the latter’s India business, for an amount of $400-500M.
2. Anil Kumble’s startup Spektacom Technologies has launched an AI-enabled cricket bat named ‘Power Bat’ that is powered by Microsoft’s Azure Sphere cloud platform, to record a variety of metrics with regards to a batsman’s performance.
3. Flipkart sold about 1 million smartphones ringing in Rs 1,000 crore of sales during the first hour of its sale on Thursday, and is expected to sell 3 million smartphones on day two and has already surpassed last year’s total sales number of Rs 4,300 crore in the first two days.
4. Domestic help provider BookMyBai.com has raised an undisclosed amount of money in its pre-series A round from ARUN Seed, a Japan based social venture fund, besides from other Japanese angel investors.
5. Singapore based CCube Angels Network Invests INR 5.47 Crores In Public Limited BSE Listed Company, ALFA Transformers Limited
6. A fund of SAIF Partners has moved the National Company Law Tribunal (NCLT), accusing venture capitalist Chintalapati Srinivas Raju and his firms of accounting fraud and siphoning off money from a company where the private equity firm had made an investment, reported ET.
7. Tencent Music Entertainment has delayed its planned $2B U.S. initial public offering (IPO) until at least November as the owner of China's most popular music apps prefers to wait for global stock markets to stabilise, reported ET.
Keyphrases: Raising Funds in India, Doing Business in India, Investing in India, Make in India, Startups in India, Raising money in India, find investors in India
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