Missed the happening of startup world? Here is the recap for you. Mentioned below are the 12 news which made buzz during in the week gone by.
The early-stage investment arm of European aircraft manufacturer Airbus, Airbus Ventures has informed to set up an independent investment arm in India. With this investment arm, the firm will infuse money in the aerospace and non-aerospace startups. The size of the India fund is yet to be disclosed. Airbus Ventures, which invests in seed and first round in the global aerospace ecosystem, have a corpus of $150 million. Till now the VC arm has put money in 13 startups across North America, Europe, Israel, and Japan.
India’s Reliance Industries Ltd (RIL) has decided to invest a $ 25 million in Israel-based technology incubator, Jerusalem Innovation Incubator (JII). The tech incubator, which has been set up as a Limited Liability Partnership, will have RIL holding a 20 percent interest stake.As per the term of the partnership, JII will be using RIL’s money to invest in early stage startups in the country working in areas of big data, fintech, artificial intelligence (AI), analytics, and Internet of Things (IoT) etc.
Good news for startups and SME’s. Federation of Indian Chambers of Commerce & Industry (FICCI) in association with The New India Assurance Company Limited (NIA), Besso Limited (London Insurance Brokers) and JB Boda Reinsurance Brokers Pvt. Ltd (JBBRIB), Mumbai launched an Insurance Policy on ATA Carnet for the benefit of Startups and Small and Medium Enterprises (SMEs) in India. The objective of this insurance policy is to facilitate Insurance cover for Startups and SMEs in lieu of Cash Deposit or Bank Guarantee against the issuance of ATA Carnets.
Chennai-based Freshworks has acquired Gurgaon-based Joe Hukum, a platform that helps businesses build their own chatbots. The deal amount, however, has remained undisclosed.
Founded in July 2015 by ex-Healthkart employees – Arihant Jain, Ajeet Singh Kushwaha and Rahul Agarwal, JoeHukum is a chat-based order taking and fulfilment platform that offers services like local shopping, pick and drop, food, repairs, movie/ event tickets, travel, restaurant reservations, taxi, flowers, cakes, recharge, bill payments and groceries, among others.
The National Institute of Electronics and Information Technology (NIELIT), a body with the Ministry of Electronics and Information Technology (MeitY), Government of India has launched a unique initiative ‘Saksham– Power of She’ aimed at encouraging entrepreneurship among women under Digital India.
In this unique initiative, over 200 female students from NIELIT Centres spread across different geographical locations participated through the Smart Virtual Classrooms that facilitates live interactive session through Video Conference.
Memilog, a Hyderabad based startup launched Startup Cricket League to unite entrepreneurs and all other stakeholders of Indian startup ecosystem through the medium of the most popular sport in India, cricket which is just a binding factor.
A SCL bat also was designed to capture the signature imprints of the respective startup team captains as an invaluable memory to cherish henceforth. Startup Cricket League (SCL) became the most happening thing to discuss. Presented by NASSCOM and Memilog together, it was one of the most novel ways to congregate the startup ecosystem in Hyderabad, which included several founders, investors, mentors and much more. It is one of the largest Informal Networking Platform for Entrepreneurs, Investors, Incubators, Accelerators and other Startup enablers.
There is speculation that Flipkart board has already approved the revised offer for Snapdeal. Weeks ago Snapdeal rejected Flipkart’s $850 million buyout offer from Snapdeal’s board felt that the offer made by the e-commerce leader undervalued the company. A latest Zeebiz report has claimed that the Flipkart board has already approved the revised offer for Snapdeal. It is being said that the new offer is likely to be around $1 billion. The report comes fresh on the lines of a news report claiming that SoftBank is considering investing $500 million in Flipkart. According to rumours going around, SoftBank is planning a $2 billion investment in Flipkart, as part of a primary funding.
Global provider of IT services and solutions for the healthcare and life sciences industries, emids has acquired Encore Health Resources, a healthcare information analytics company focused on value-based care and electronic health records for providers. As healthcare providers and payers converge, today’s healthcare organizations have an increasing need for clinical and financial data to operate effectively in a value-based environment. This acquisition provides an opportunity for emids to address these needs for providers and complements the company’s existing expertise in the payer space.
Cure.fit, healthcare and wellness startup brand announced the acquisition of Bangalore’s leading yoga brand – a1000yoga. This acquisition consolidates Cure.fit’s offering in the fitness segment and is a leap towards establishing their existing brand Cult.fit as the largest, one-of-its-kind holistic fitness training facility in Bangalore by the end of this year. a1000yoga centres will be re-launched to incorporate the expansive offerings in the Cult.fit portfolio, while a1000yoga clients will get access to CULT’s workout offerings: Zumba, Strength and Conditioning, Yoga.
a1000yoga is Cure.fit’s third acquisition for their fitness vertical in less than a year after CULT and Tribe Fitness Centres, thereby complementing the brand’s philosophy of providing complete fitness through a combination of unique workouts without equipment.
Eatigo, Southeast Asia’s restaurant reservation app announced that it is officially available to users in both Mumbai and Pune, India. The platform, which aims to connect empty tables with empty stomachs, offers discounts of up to 50% throughout the day at all of its participating outlets and enables users to make fuss-free reservations at more than 2,000 restaurants across Hong Kong, Singapore, Thailand, the Philippines, and Malaysia.
As part of its expansion strategy in India, eatigo signed an Asset Purchase Agreement in April 2017 to acquire the operations of Ressy, an Indian online restaurant reservation platform.
Kickstart Accelerator, one of Europe’s largest multi-corporate, zero-equity technology accelerators, has announced its shortlist of 30 startups for its second cohort. The startups will take part in an 11-week programme, from 4 September to 17 November 2017, and will be divided into the four verticals based in Zurich – FinTech (10), Food (6), Smart Cities and Robotics (9) & Intelligent Systems (5). Bengaluru-based iFuture Robotics is among these 30 shortlisted startups (in Robotics vertical) which made it through and is only Indian startup for this programme of 2017.
The Early Stage Investment Arm Airbus To Set Up VC Firm For Indian Startups
The early-stage investment arm of European aircraft manufacturer Airbus, Airbus Ventures has informed to set up an independent investment arm in India. With this investment arm, the firm will infuse money in the aerospace and non-aerospace startups. The size of the India fund is yet to be disclosed. Airbus Ventures, which invests in seed and first round in the global aerospace ecosystem, have a corpus of $150 million. Till now the VC arm has put money in 13 startups across North America, Europe, Israel, and Japan.
RIL To Invest $25 Mn In Israel Based Tech Startup Incubator
India’s Reliance Industries Ltd (RIL) has decided to invest a $ 25 million in Israel-based technology incubator, Jerusalem Innovation Incubator (JII). The tech incubator, which has been set up as a Limited Liability Partnership, will have RIL holding a 20 percent interest stake.As per the term of the partnership, JII will be using RIL’s money to invest in early stage startups in the country working in areas of big data, fintech, artificial intelligence (AI), analytics, and Internet of Things (IoT) etc.
ATA Carnet Insurance Policy Launches By FICCI for Startups and SMEs
Good news for startups and SME’s. Federation of Indian Chambers of Commerce & Industry (FICCI) in association with The New India Assurance Company Limited (NIA), Besso Limited (London Insurance Brokers) and JB Boda Reinsurance Brokers Pvt. Ltd (JBBRIB), Mumbai launched an Insurance Policy on ATA Carnet for the benefit of Startups and Small and Medium Enterprises (SMEs) in India. The objective of this insurance policy is to facilitate Insurance cover for Startups and SMEs in lieu of Cash Deposit or Bank Guarantee against the issuance of ATA Carnets.
Freshworks Acquires Gurgaon Based Chatbot Startup Joe Hukum
Chennai-based Freshworks has acquired Gurgaon-based Joe Hukum, a platform that helps businesses build their own chatbots. The deal amount, however, has remained undisclosed.
Founded in July 2015 by ex-Healthkart employees – Arihant Jain, Ajeet Singh Kushwaha and Rahul Agarwal, JoeHukum is a chat-based order taking and fulfilment platform that offers services like local shopping, pick and drop, food, repairs, movie/ event tickets, travel, restaurant reservations, taxi, flowers, cakes, recharge, bill payments and groceries, among others.
NIELIT Launches Initiative To Encourage Women Entrepreneurship
The National Institute of Electronics and Information Technology (NIELIT), a body with the Ministry of Electronics and Information Technology (MeitY), Government of India has launched a unique initiative ‘Saksham– Power of She’ aimed at encouraging entrepreneurship among women under Digital India.
In this unique initiative, over 200 female students from NIELIT Centres spread across different geographical locations participated through the Smart Virtual Classrooms that facilitates live interactive session through Video Conference.
Startup Cricket League Launches To Unite Indian Entrepreneurs
Memilog, a Hyderabad based startup launched Startup Cricket League to unite entrepreneurs and all other stakeholders of Indian startup ecosystem through the medium of the most popular sport in India, cricket which is just a binding factor.
A SCL bat also was designed to capture the signature imprints of the respective startup team captains as an invaluable memory to cherish henceforth. Startup Cricket League (SCL) became the most happening thing to discuss. Presented by NASSCOM and Memilog together, it was one of the most novel ways to congregate the startup ecosystem in Hyderabad, which included several founders, investors, mentors and much more. It is one of the largest Informal Networking Platform for Entrepreneurs, Investors, Incubators, Accelerators and other Startup enablers.
Flipkart Board Might Have Approved Offer For Snapdeal Merger
There is speculation that Flipkart board has already approved the revised offer for Snapdeal. Weeks ago Snapdeal rejected Flipkart’s $850 million buyout offer from Snapdeal’s board felt that the offer made by the e-commerce leader undervalued the company. A latest Zeebiz report has claimed that the Flipkart board has already approved the revised offer for Snapdeal. It is being said that the new offer is likely to be around $1 billion. The report comes fresh on the lines of a news report claiming that SoftBank is considering investing $500 million in Flipkart. According to rumours going around, SoftBank is planning a $2 billion investment in Flipkart, as part of a primary funding.
emids Acquires Encore For An Undisclosed Amount
Global provider of IT services and solutions for the healthcare and life sciences industries, emids has acquired Encore Health Resources, a healthcare information analytics company focused on value-based care and electronic health records for providers. As healthcare providers and payers converge, today’s healthcare organizations have an increasing need for clinical and financial data to operate effectively in a value-based environment. This acquisition provides an opportunity for emids to address these needs for providers and complements the company’s existing expertise in the payer space.
CureFit Buys Bangalore’s Yoga Brand a1000yoga
Cure.fit, healthcare and wellness startup brand announced the acquisition of Bangalore’s leading yoga brand – a1000yoga. This acquisition consolidates Cure.fit’s offering in the fitness segment and is a leap towards establishing their existing brand Cult.fit as the largest, one-of-its-kind holistic fitness training facility in Bangalore by the end of this year. a1000yoga centres will be re-launched to incorporate the expansive offerings in the Cult.fit portfolio, while a1000yoga clients will get access to CULT’s workout offerings: Zumba, Strength and Conditioning, Yoga.
a1000yoga is Cure.fit’s third acquisition for their fitness vertical in less than a year after CULT and Tribe Fitness Centres, thereby complementing the brand’s philosophy of providing complete fitness through a combination of unique workouts without equipment.
Eatigo Acquires Ressy, Enters India
Eatigo, Southeast Asia’s restaurant reservation app announced that it is officially available to users in both Mumbai and Pune, India. The platform, which aims to connect empty tables with empty stomachs, offers discounts of up to 50% throughout the day at all of its participating outlets and enables users to make fuss-free reservations at more than 2,000 restaurants across Hong Kong, Singapore, Thailand, the Philippines, and Malaysia.
As part of its expansion strategy in India, eatigo signed an Asset Purchase Agreement in April 2017 to acquire the operations of Ressy, an Indian online restaurant reservation platform.
iFuture Robotics Selected For 2nd Cohort of Europe’s Kickstart Accelerator Programme
Kickstart Accelerator, one of Europe’s largest multi-corporate, zero-equity technology accelerators, has announced its shortlist of 30 startups for its second cohort. The startups will take part in an 11-week programme, from 4 September to 17 November 2017, and will be divided into the four verticals based in Zurich – FinTech (10), Food (6), Smart Cities and Robotics (9) & Intelligent Systems (5). Bengaluru-based iFuture Robotics is among these 30 shortlisted startups (in Robotics vertical) which made it through and is only Indian startup for this programme of 2017.
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