#TodayDeals: Uber to Reinvest Profits Back in Tech, Products in Emerging Markets Like India & More

Sujata Sangwan May 25, 2018

Below is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:

1. ICICI Bank, the second largest in the country, has committed Rs 100 crore for investing in upcoming technology startups. Read More...

2. Amazon is partnering with Embassy Group to debut Alexa-enabled smart homes in India. Read More...

3. San Francisco-based cab-hailing firm Uber will re-invest profits in its products and technology, emerging markets like India and to scale up its Uber Eats and JUMP businesses globally, reported LiveMint.

4. Mobile payment services company, MoneyOnMobile Inc., has launched a new biometric-based ATM cash-out solution.

5. SoftBank has reportedly asked OYO to get new investors, following which it will participate in a funding round of nearly $500-700M. Read More...

6. The Indus Entrepreneurs (TiE), a global nonprofit engaged in promoting entrepreneurship, has urged Chief Minister H.D.Kumaraswamy to entrust the Technology & Innovation portfolio to former Minister Priyank Kharge in the JD(S)-Congress coalition regime, reported ET.

7. Google’s Demo Day Event in Asia will happen in Shanghai on September 20, and applications are already open to startups for participation. Interested startups can apply before the deadline of July 1 at 11:59 PM SGT (8:29 PM IST).

8. Healthcare focused fintech startup LetsMD has raised fresh funding from Ravi Garikipati, CTO & Head of Engineering of Flipkart and WaterBridge Ventures.

9. Japanese carmakers Toyota Motor Corp. and Suzuki Motor Co. on Friday have agreed to start new joint projects in the fields of technological development, vehicle production, and market development. As part of the new arrangement, Toyota will offer Suzuki the technology to develop a new compact and highly efficient car engine for India and other global markets.