Startup News – 4th October 2017
Startup news for the day:
- Olacabs has reportedly raised $2B in a fresh funding round led by the investment arm of Chinese Internet giant, Tencent with participation from Softbank Group Corp.
- Diwali bonus for Flipkart staff: The board of Flipkart has approved a plan to repurchase employee stock options in a move that could benefit close to 6,000 current and former employees of the company. Besides Flipkart, employees of Myntra and PhonePe will also be a part of the repurchase programme. Employees will be allowed to sell a certain percentage of their vested shares under the programme
- Zomato has waived off ‘per cover’ fee or platform fee for restaurants that enable table reservations through Zomato.
- Beijing-based bicycle sharing startup, Ofo, is planning to enter the Indian market by the first half of 2018.
- Venture Catalysts has made an investment into a fintech startup HomeCapital, focussed on home down-payment assistance to fist time home buyers.
- Mobikwik today announced its association with IRCTC Rail connect app under which users can now pay through MobiKwik’s Payment Gateway, while booking their tickets on IRCTC.
- RevvX Hardware / IOT Accelerator has entered a strategic partnership with Silicon Valley Innovation Center (SVIC) to enable Corporations and Startups in Asia access to Silicon Valley thought leadership and consulting expertise.
- Digital medical consultation platform DocsApp – Consult Doctor on Chatis close to finalising its Series-A fundraise of about Rs 36 crore ($5.5 million) from Bessemer Venture Partners.
- Karnataka govt to invest $6 million in AI and data science capabilities in the state and across the country
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