Startup News – 14th October 2017
Startup news for the day:
- Bengaluru-based home maintenance services startup Gapoon has raised $250,000 (Rs 1.6 crore) in a pre-Series A round of funding led by Vida Ventures.
- Flipkart is in talks to buy a minority stake in ticketing platform Bookmyshow. Online ticketing platform BookMyShow may be valued at $500-700 million if the proposed deal with Flipkart goes through.
- Indiatech.org, the think-tank and lobby group set up by internet companies like Flipkart and Ola, has roped in former Indian Administrative Service (IAS) officer and economist Gyanendra Badgaiyan as the CEO of the organisation.
- Robosoft Technologies, a mobility solutions company, appointed former VP of Nihilent Technologies, Ravi Teja as its new CEO, while former CEO Rohith Bhat will continue on as the managing director.
- Delhi-based V2 Retail Ltd., formerly Vishal Retail Ltd, has raised Rs 76 crore ($12 million) from Lighthouse Advisors India Pvt. Ltd, an India-focused mid-market private equity firm.
- IBM has teamed up with blockchain startup Stellar.org and payment company KlickEx to launch a cross-border payment system for banks which uses the blockchain to “reduce the settlement time and lower the cost of completing global payments for businesses and consumers.”
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