StartUp News – Dec 7th

The startup world has no dearth when it comes to new news! Read on on to find out the headlines of today!

  • Ahmedabad-based edutech firm AlmaMapper Technologies has acquired another recruitment and assessment solutions firm iTeknika in a cash and share swap deal.
  • Mountain Trail Foods Pvt. Ltd, which owns the Chai Point chain of tea stores, plans to raise more than $10 million in a Series C round of funding.
  • The National Stock Exchange (NSE) on Tuesday said it would facilitate start-ups to mobilise funds through a public issue even in growth stages.
  • Alibaba all set to put $300 million in BigBasket. The deal, which has been in the works for nearly six months, is expected to give the Bengaluru-based company a post-money valuation of about $850 million. The Alibaba-backed online retailer Paytm Mall is also likely to invest as a part of the $300-million round depending on the final structure of the deal, reported ET.
  • One97 Communications, the entity that runs financial services platform Paytm, has appointed SoftBank’s Kabir Misra as a director on its board.
    Premium fashion and lifestyle e-tailer Label Corp, which runs The Label Life.com, has raised Rs 20 crore from Kalpavriksha, the Rs 500 crore private equity arm of financial services group Centrum.
  • Eight Startups Graduate from Target Accelerator Program’s Fifth Batch – Cogknit, Cognitifai, Hyperworks, jumper.ai, Light Information Systems, Moonraft Innovation LabsStreamoid TechnologiesVPhrase
  • TempoGO wins Startup-O global venture competition, raises Seed Funding of $1.35 million
  • Digital SME lending platform FlexiLoans Technologies has raised an institutional debt funding of about $7M (Rs 45 Cr) from Financial Institution(s).
  • Amazon NV Holdings (investment arm of Amazon.com), has filed an application with the Competition Commission of India (CCI) to acquire 5% minority, non-controlling stake in departmental store chain Shoppers Stop.
  • Two wheeler maker TVS Motor Company has acquired 14.78% stake in Bengaluru-based electric vehicle startup Ultraviolette Automotive Pvt. Ltd.
  • Vehicle management startup LocoNav has raised $3.42M (Rs 22 CR) Series A funding from Sequoia Capital India and angel investor, Prateek Sharma, reported Inc42.

Come back tomorrow for more!

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