India Startup Funding Update, Jan 9
Jan 9, 2019
1. Ride-hailing firm Grab lands $50M from Thailand's Kasikornbank to launch the GrabPay electronic wallet in its sixth Southeast Asian market in 2019.
2. Alibaba Group's newly formed on-demand online services unit has rocketed in value to as much as $30 billion after raising $4 billion in fresh funds, reports Reuters.
3. Used car marketplace Spinny is in talks to raise $10-15 million from Accel Partners and Sequoia Capital, reports DealStreetAsia.
4. Amazon has introduced its audiobooks streaming service – Audible in India.
5. IT services firm Mphasis has acquired Virginia-based cloud technology services company Stelligent Systems LLC in an all-cash deal valued at $25 million.
6. Digital gaming startup Mobile Premier League (MPL) recently closed a $5-million Series A round of funding from angel investors.
7. Singapore-based boutique venture fund RB Investments has invested a little over $1 million for a 28 per cent stake in Jaipur-based meat retail chain operator A&R Bon Vivants which runs a chain of stores under the brand name Let’s Meat.
8. US-based business and financial software company Intuit is looking to tap the growing startup community in India, to expand their business along with the mid-market.
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