India Startup Funding Update, Dec 25
Dec 25, 2018
1. Ola-backed Foodpanda has expanded its delivery network to 30 more cities in India, taking its presence to 50 cities across the country, and aims to be in 100 cities by Nov-end.
2. Paytm Payments Bank has appointed veteran banker Satish Kumar Gupta as managing director and CEO.
3. Gurgaon-based health products retailer HealthKart, operated by Bright Lifecare Pvt. Ltd, is raising around $10 million in a fresh funding round from new and existing investors, said a VCCircle report.
4. FirstCry, a retailer of baby products online, is looking to raise at least $100-$150 million from Alibaba and SoftBank, reported LiveMint.
5. Amazon India today announced that it is piloting a new delivery service for smartphones in Delhi NCR region. Under the ‘Faster than Same Day’ delivery service available on select best-selling smartphones, Amazon said it will provide delivery within 3-5 hours.
6. Israel-based global open innovation platform SOSA is in talks with at least three Indian states - Maharashtra, Assam and Goa to set up tech innovation hubs.
7. Bus aggregator Shuttl has secured $1 million from venture debt firm Trifecta Capital.
8. Betaout, a Noida-based customer intelligence and marketing automation platform for e-commerce companies, has been acquired by US-based retail technology marketing firm Bluecore for an undisclosed amount.
9. Delhi-based biotechnology startup Clensta International, has raised an undisclosed amount of seed funding from Indian Angel Network and its maiden VC Fund, IAN Fund.
10. Korean razor company Dorco Ltd made its first investment in India by acquiring 10 per cent stake in Ahmedabad-based grooming startup LetsShave.
11. Healthtech startup Medimetry has raised seed funding of an undisclosed amount from US-based hedge fund BlueSky Capital Management, reported VCCircle.
12. Cyrus Mistry has announced the formation of Mistry Ventures LLP, established with the intention to provide strategic insights and advice to businesses, incubate new ventures and provide seed, early stage and growth capital to startups in India and globally.
13. Wipro has increased fresher salaries to Rs 3.5 lakh per annum, from about 3.2 lakh.
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