Startup News – 24th October 2017
The startup updates for the day:
- Functional beverage maker Fyre has raised Rs 3.2 crore ($500,000) from angel investment platform Venture Catalysts.
- Samir Kuckreja quits as head of Zomato‘s cloud-based system Zomato Base. Kuckreja’s exit comes a month after chief operating officer Deepak Gulati resigned.
- InMobi has appointed Ravi Krishnaswamy, former senior vice-president of engineering at Flipkart, as CTO at the company.
- Rakyan Beverages Pvt. Ltd, the maker of organic cold-pressed juices and other beverages sold under the brand Raw Pressery, has raised around $6 million (Rs40 crore) to fund expansion.
- Ed-tech startup Toppr.com, has raised additional capital as part of its Series B round of funding from existing institutional investors.
- Facebook Inc said on Monday it was testing the idea of dividing its News Feed in two, separating commercial posts from personal news in a move that could lead some businesses to increase advertising, reported VCCircle.
- Paytm ECommerce Pvt. Ltd, operator of online marketplace Paytm Mall, will take legal action against Unicommerce eSolutions Pvt. Ltd for data misuse, chief operating officer Amit Sinha said.
- Doctor Insta, India’s first video medicine platform has announced its plans to raise the next round of funding of $4 million to further expand its operations in the country.
Cold Chain Monitoring Startup TagBox Raises Angel Funding from Indian Angel Network & IAN Fund
- Cleaning and material handling equipment maker Bharati Robotics has raised funding from its existing investors – Society for Innovation & Entrepreneurship – SINE, IIT Bombay, and other angel investors.
- Cisco Systems Inc, the world’s largest networking gear manufacturer, said it will buy U.S. telecommunications software companyBroadSoft Inc in a deal valued at about $1.9 billion, including debt.
- Meet The 20 Startups Selected For Axilor Winter 2017 Accelerator Cohort – Maximl Labs, Unomer, CustomerSuccessBox, GoFlamingo, Journee, Alice AI, Scribie.com, Marax, Pensieve, Predictly,Clorik, Khidki, Playtoome, MeTripping, Rehash, Betterwealth, Qbrics, Vyapar Accounting App, 5C Network, Zoe – Nutrition For Life
- Paytm commits $500M To Meet RBI’s Full KYC Norms and MobikwikCommitted $15.3M. Recently RBI has announced revised guidelines and stricter Know Your Customer (KYC) requirements for prepaid payment instrument (PPI) licence holders
- Japan-based diversified consumer and business services provider Recruit Holdings Co Ltd has invested an undisclosed amount in US- and Bangalore-based logistics management startup Locus
- Logistics investment and development firm LOGOS India has raised $400 million in equity capital.
For more startup news and updates, click here.