Startup News – 10th November 2017

Startup updates for the day:

• Alibaba has reportedly sought the approval of the Competition Commission of India (CCI) to acquire a stake in online grocery startup Bigbasket.
• Flipkart will soon launch its own smartphone, Billion Capture+ that will be available on Flipkart platform on November 15, 2017.
• Happily Unmarried Marketing Pvt. Ltd, which offers lifestyle products under the brands ‘Happily Unmarried’ and ‘Ustraa’, is raising fresh funding from Wipro Consumer Care.
• Hyderabad-based Heritage Foods Limited will acquire Mohali-based dairy products firm Vaman Milk Foods Pvt Ltd in an all-cash deal.
  
• Chinese online content platform Bytedance said on Friday it would buy popular lip-sync platform musical.ly, in a deal seen valued at up to $1 billion.
  
• Ahmedabad based digital trust and safety company Motif has been acquired by Nasdaq listed US based customer engagement solutions firm TeleTech Holdings for an undisclosed amount.
  
• Chinese electric vehicle startup Nio has raised more than $1 billion in its latest fundraising round, led by existing investor Tencent, valuing the firm at about $5 billion.
  
• Phonon Communications Acquires Gurgaon-based AI Chatbot Startup, Idelivr Chat.
  
• Adrenalin‘s chairman and CEO Krishna V Giri has resigned from the company to start his own AI-tech product company.
  

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