Startup News – 26th October 2017

by Kapil · Published October 26, 2017 · Updated January 3, 2019

The startup updates for the day:

SoftBank has agreed to back a new lobby group for Indian internet startups—Indiatech.org, according to media report.
Bangalore-based health-tech startup Medsmart Hospitals Network Pvt Ltd has raised $1 million (Rs 6.5 crore) from IT development and integration company Excel Business Solutions, reported VCCircle.
Gurgaon-based logistics services provider Rivigo Services Pvt Ltd has appointed former Microsoft executive Pramod Gupta as its chief financial officer.
Singapore-based tryb Capital, a growth-stage technology investor, has added Lien Choong Luen as chief operating officer (COO) and Jason Strimpel as head of platforms.
ShieldSquare, a Bangalore-based company which provides real-time bot prevention software for online businesses, has raised an undisclosed sum in its Series A round from Endiya Partners, reported DealtreetAsia.
Business services provider Quess Corp Limited on Wednesday announced the acquisition of a majority stake in Mumbai-based Vedang Cellular Services and a joint venture with another Mumbai-based firm, Trimax IT Infrastructure and Services, to implement a smart city project in Ahmedabad to create city-wide IT Infrastructure.
Paytm has appointed its senior vice-president Krishna Hegde as head of lending as the company looks to offer financial products to customers and merchants in partnership with lenders, reported ET.
A group of VCs and business leaders, Andhra Angels, is expected to invest over $15.38M (INR100 Cr) in startups over the next few years as per an ET report.
State oil firms have agreed to offer a financial support of Rs 44 crore to about 32 startups working on technological or business innovations that could solve some of oil industry’s problems, reported ET.
Former InnoVen Capital senior executives Vinod Murali and Ajay Hattangdi on Wednesday said their new venture, Alteria Capital Advisors LLP, has received approval from the Securities and Exchange Board of India (Sebi) to float a Rs1,000 crore (about $150 million) venture debt fund.
Anand Rai, the owner of Gurgaon-based Quickdel Logistics, which owns and operates logistics venture GoJavas, has filed a fresh complaint against Jasper Infotech, promoters Kunal Bahl and Rohit Bansal and Vulcan Express, the inhouse logistics arm of the latter; for the criminal breach of trust, cheating, intellectual property theft, theft of trade secrets and data and misappropriation of funds, among others.