India Startup Funding Update, Dec 18

4. Steel marketplace Virtual Metalstreet Pvt. Ltd has raised $700,000 from angel investors.

5. Amazon.com Inc is likely to buy an at least 7 percent to 8 percent stake in India’s Future Retail Ltd through an investment arm, CNBC-TV 18 reported.

6. India Business Excellence Fund – III, managed by Motilal Oswal Private Equity, will invest Rs 200 crore in Happy Forgings, an auto ancillary SME company.

7. Online bus ticketing platform Abhibus is in talks with a few venture capital firms to raise around $15 million by divesting some 25% stake, valuing the company at around Rs 450 crore, reported ET.

8. Worxogo, a startup that offers a cognitive artificial intelligence (AI) engine as a software-as-a-service or SaaS application to give personalised performance inputs to employees, has raised ₹16.5 crore from Inventus Capital and Ideaspring Capital in its first round of funding.

9. Reliance Industries may soon buy controlling stakes in two of India’s largest cable TV and broadband service providers, Hathway Cable & Datacom and DEN Networks.

10. Alten Calsoft Labs, a subsidiary the $2.2-billion French IT firm Alten Group, has acquired Bengaluru-based chip design company Si2Chip.