#TodayDeals: Indian B-school IIMA Centre Launches $25M Fund to Back Startups & More
Below is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:
1. PayMate Acquires Digital Lending Platform Z2P Technologies to Benefit SMEs. Read More...
2. The insolvency professional, appointed by the National Company Law Tribunal (NCLT), has called for expression of interest for submission of resolution plans for hotel and home stay aggregator Stayzilla. “The applicants should have a net worth of ₹50 crore or more as of March 31, 2018 and the ability to infuse minimum of ₹20 crore cash in the company,” according to the notice inviting for expression of interest. Read More...
3. As part of a Rs 9,400-crore package for electric and hybrid vehicles, the government may offer incentives of up to Rs 2.5 lakh to those scrapping old petrol- or diesel-fired vehicles.
4. Flipkart employees will be able to cash their vested stock options at $125-129 per share once Walmart Inc. completes its $16-billion acquisition.
5. Blackstone on Monday sold an 8% stake in Mphasis for about ₹1,500 crore through a bulk transaction on the stock exchange.
6. Digital freight logistics startup Cogoport has set its sights on the European landscape as it looks to expand operations into Netherlands.
7. Northern Arc Investments, a subsidiary of Northern Arc Capital (formerly IFMR Capital) has completed deploying over 65% of its sixth debt fund of Rs 150 crore which was launched 3 months back. Read More...
8. Indian Institute of Management Ahmedabad’s (IIMA’s) centre for innovation, incubation, and entrepreneurship (CIIE) on Monday launched a $25 million ‘Bharat Inclusion Initiative’ that will look to mentor and invest in start-ups in the early stage and seed segment over the next three-four years.
9. Foxconn Technology Group, the world’s largest contract manufacturing giant, has written off an additional $40 million of its $200 million bet on Gurgaon-based online marketplace Snapdeal.
10. Mobile games platform, ALAX raises $3.8 million in funding to drive mobile gaming in Asia. Read More...
11. The blockchain platform, Theblockchainstory has filed a petition in the Supreme Court against the Reserve Bank of India (RBI) clampdown on virtual currency.
12. Transsion Holdings which makes Itel, Tecno, and Infinix brand of mobile phones, has promoted its veteran employee Arijeet Talapatra as the new CEO of its India operations.
13. Deutsche Bank acquires Mumbai-based startup Quantiguous, which offers API-based banking solutions.
14. Global Cloud infrastructure and business mobility leader VMware has appointed Ramkumar Narayanan as Vice President and Managing Site Director, India.
15. The RP-Sanjiv Goenka Group has created a Rs 1 billion venture capital fund to invest in fast-moving consumer goods (FMCG) startups.
16. Online Education Company, UpGrad, Appoints Weisheng Neo as Head of South-East Asia. Read More...
17. UClean Expands Territory to West, North and South India, To Invest Rs 1 Cr with Franchise India. Read More...
18. Fintech Startup Rubique Appoints Ex-Snapdeal CFO Anup Vikal On It’s Advisory Board. Read More...
19. Indian Angel Network has announced its investment in Knudge.me, a gamified social learning platform based out of Bangalore. Read More...
