Startup News – 10th October 2017

Startup news for the day:

  • AI Startup ThirdWatch Raises Angel Funding from Indian Angel Network and IAN Fund
  • Palo Alto and Bengaluru-based firm, GridRaster Inc. has raised $2 million in seed funding from a group of venture capital firms, including Exfinity Ventures, Lumia Capital, Pipeline Capital, NexStar Partners, Unshackled Ventures and Explorer Group.
  • Condiments and sauce maker Veeba Food Services Pvt. Ltd, has raised a little over $6 million (Rs40 crore) in a series C round led by its existing investor Verlinvest, the Belgium-based investment holding company of Anheuser-Busch InBev founding families
  • Paytm Mall reported a Rs13.63 crore loss on total sales of Rs7.35 crore in the year ended 31 March 2017, according to filings with the Registrar of Companies (RoC).
  • Shell India has launched an accelerator programme named Shell E4 (energising and enabling energy entrepreneurs) for energy startups, the company said in a statement on Monday.
  • Paynear is buying Singapore-based GoSwiff for around $100 million (Rs 650 crore) in a deal that will provide the Indian financial technology company a quick access to 20 new markets.
  • Infosys shareholders have approved the appointment of Nandan Nilekani as Chairman and UB Pravin Rao as Managing Director.
  • Flipkart has invested $460 Mn (INR 3000 Cr) in its logistics arm Ekart
  • Mahindra and Mahindra (M&M) is reportedly looking to join hands with Ford Motor Company to build a new electric sedan.
  • Bajaj Finserv and digital-wallet provider Mobikwik are taking their partnership forward into fintech lending.
  • Bangalore based eMudhra Limited, a certifying authority which issues digital signature certificates in India has launched an R&D centre for development of technology solutions and products based on the premise of Blockchain.
  • TLabs Incubated MandiApp, Announces Its Official Launch. Incubated under TLABS for 6 months, this agri-tech startup also helps to create a private network for users enabling them to get notified for any events occurring in their private network.
  • Zivame has appointed Mr. Sumeet Yadav as the Executive Chairman. Mr. Yadav will strengthen Zivame’s efforts in diversifying its portfolio and furthering growth by intensifying its omni channel presence.

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