Courier Service Provider Pigeon Express in Talks to Acquire GoJavasCourier service provider Pigeon Express Pvt. Ltd is in advanced talks to acquire eCommerce focused logistics service provider GoJavas (Quickdel Logistics Pvt. Ltd), which suspended operations last week due to technical issues, in a cash and stock deal. Besides Pigeon Express, the company had also held talks with another Delhi-based courier service provider, Trackon Couriers. But Pigeon Express has been moving faster and GoJavas is likely to be bought by them, as reported by DealStreetAsia. The financial details and other terms & conditions are still undisclosed.
EasyMeat.in is in the Process of Acquiring Meat Delivery Player Nonveggies Pune-based meat delivery startup EasyMeat.in is in the process of acquiring meat delivery player Nonveggies in an undisclosed all cash deal. Nonveggies gets around 1,000 orders a month in western Pune, it also have an additional 300-400 unregistered users and have tied up with 12 to 15 vendors for the three meat categories it offers to customers.
EasyMeat.in claims to have a monthly growth of 30 per cent and in July received 45 orders on a daily basis. Through the acquisition, the startup aims to reach 100 orders a day by September, reported ET.
Delhi Based Fusion Microfinance Raises $24M from PE fundsDelhi-based Fusion microfinance has raised Rs 162 crore in equity from US-based private equity firm Creation Investments Capital Management and Spain's Gawa Capital as the micro lender is looking to raise its stake in India's growing microfinance sector.
Existing investors -- Belgium's BIO and The Netherland's Oikocredit -- have also invested in this round of fundraising, Fusion Microfinance chief executive Devesh Sachdev told ET.
Software Maker Zenoti Gets $15M Led by Norwest Venture, Accel PartnersSoftware maker Zenoti, has raised Rs 100 crore ($15 million) in a round led by Norwest Venture Partners along with existing backer Accel India. The Seattle and Hyderabad-based company, which provides cloud-based software for spas and salons, now plans to aggressively expand operations in the United States and European markets.
Founded by serial entrepreneur Sudheer Koneru, the startup plans to use the newly raised funding to expand the client base, build new products and increase workforce from the current level of 140.
Bus ticket platform Travelyaari Bags $7M from GVFL & Bennett ColemanMantis Technologies Pvt Ltd, which owns and operates online bus booking platform Travelyaari, has raised $7 million in funding led by existing investors media company Bennett Coleman and Co. Ltd and Gujarat Venture Finance Ltd (GVFL). Founded in 2007 by IIM-Ahmedabad graduates Aurvind Lama and Partha Sinha, the startup plans to use the funds raised in this Series B round for product development, augmenting its service network and to increase the online penetration of bus bookings.
Delhi Based Niramaya Path Labs Buys Online Diagnostics Platform LabstreetDelhi-based diagnostics firm Niramaya Path Labs has acquired online diagnostics platform Labstreet in a cash and stock deal. The size of the deal was not disclosed by both the companies. Post acquisition, Labstreet will function as an independent unit and half of the team from the company will join Niramaya. The founders of Labstreet will not be a part of the team and will only stay on in an advisory role.
The acquisition will give Niramaya access to Labstreet’s technology — the Labstreet app, website, automated process on all the queries and request as well as the 30,000 user-base of Labstreet will go to Niramaya, reported DealStreetAsia.
Sattviko Acquires Delhi Based Packaged Products Company FYNE SuperfoodVegetarian food chain Sattviko has acquired Delhi-based packaged products company FYNE Superfood for an undisclosed amount to ramp up its packaged products offerings. The company said the brand and products of Fyne Superfood will now be merged with Sattviko. Darpan Majumdar, one of the co-founders of FYNE Superfood, will join Sattviko and lead the intellectual property transfer for the next six to seven months, reported ET.
Zeta Interactive Plans to Spend $10-50M on Acquisitions in IndiaBlackstone-backed American big data and analytics firm Zeta Interactive plans to spend $10-50 million as it scouts for acquisitions in India.
Zeta Interactive, which is valued at $1 billion, plans to buy out an Indian firm that will help it get on board local clients in sectors such as financial services, ecommerce, travel and automobiles, reported ET.
MakeMyTrip Opens R&D Centre in BengaluruOnline travel booking platform MakeMyTrip has opened an R&D centre in Bengaluru, which will focus on not just supporting the operations of the company's office in Gurgaon but also expanding into new products and developments.
As per reported by ET, the new facility is located at Yemalur and spread over 40,000 square feet. It has already onboarded about 100 employees and expects to hire another 150-200 more by the end of this fiscal year.
US Based Tech Marketing Company Boomtrain Indian Messaging Startup Nudgespot U.S based tech marketing company Boomtrain is set to acquire Bengaluru-based Nudgespot for an undisclosed amount. With the addition of Nudgespot, Boomtrain will expand its APAC business and introduce their presence in India. Together, Boomtrain and Nudgespot will have 70 people in offices located in San Francisco and Bengaluru.
Kae Capital backed Nudgespot, founded by former Myntra and Hoopos co-founder Raveen Sastry, the company had raised seed funding of $650,000 from Kae Capital and angel investors including Anoop Goyal, Mike Shah and V.A. Sastry.
Boomtrain and Nudgespot partnered nine months ago, and have been co-developing a product that combines Nudgespot's platform with Boomtrain's AI technology.
Disney Invests $1B in Video Streaming Firm BAMTech For 33% StakeWalt Disney, the entertainment and media conglomerate confirmed Tuesday that it has agreed to acquire a 33 percent stake in BAMTech for $1 billion. Disney will pay over two installments, one now and one in January, and has the option to acquire a majority stake in the future.
"Our investment in BAMTech gives us the technology infrastructure we need to quickly scale and monetize our streaming capabilities at ESPN and across our company," said Disney CEO Bob Iger. "We look forward to working closely with BAMTech as we explore new ways to deliver the unmatched content of The Walt Disney Company across a variety of platforms."
Intel Acquires Artificial Intelligence Startup Nervana SystemsIntel has signed a definitive agreement to acquire Nervana Systems, a recognized leader in deep learning. Founded in 2014 and headquartered in San Diego, California, Nervana has a fully-optimized software and hardware stack for deep learning. Their IP and expertise in accelerating deep learning algorithms will expand Intel’s capabilities in the field of AI.
“We will apply Nervana’s software expertise to further optimize the Intel Math Kernel Library and its integration into industry standard frameworks. Nervana’s Engine and silicon expertise will advance Intel’s AI portfolio and enhance the deep learning performance and TCO of our Intel Xeon and Intel Xeon Phi processors,” the company said in a statement.
Kronos Launches Research and Development Experience Center in IndiaKronos Incorporated today announced the launch of an Experience Center at its Noida Research and Development Center. The new center has been set up to enable visitors to reimagine the way they manage their most strategic asset: their workforce.
The 440-square foot center has been set up at a cost of $150,000, and will be utilized by organizations from across the Asia Pacific region; it is the first Kronos live lab environment outside of North America.
The new facility was developed to enable customers to review real workforce management issues and scenarios to better understand how Kronos solutions can resolve their workforce management challenges.
Visitors to the lab have the opportunity to run scenarios and reports on pre-populated data within the lab environment to enable them to visualize how workforce management technology can improve workforce productivity, control labor costs, mitigate compliance risk, and improve employee engagement.
India hosts the second-largest R&D facility outside of Kronos corporate headquarters in Massachusetts, with engineers focused on testing and development of next generation solutions. Kronos invests more than $100 million in R&D annually, to deliver the world’s most innovative, easy to use, and feature-rich products to help organizations manage their workforces.
Kronos solutions are currently used by customers in India such as Mahindra, PVR Cinemas, SAB Miller, and Ultratech to manage both permanent and contract employees.
