Startup News – 9th November 2017

Startup updates for the day:

• 50K Ventures Invests in 2 Startups, Evolve Snacks & Automate.io.
• Qubole, the big data-as-a-service company, Raises $25M Led by Singtel Innov8 and Harmony Partners.
• Matrix Partners India Invests in B2B Travel SaaS Startup itilite.
• NITI Aayog along with Proffer.com, a blockchain startup founded by graduates of MIT and Harvard, are organising a Blockchain summit and hackathon at IIT Delhi from Nov 10-13, 2017.
  
• Cult.fit Signs Up Indian Cricketer K L Rahul as Its Fitness Ambassador
  
• Info Edge (India) Ltd. has invested about $871K (Rs 5.66 Cr) in NoPaperForms Solutions Pvt. Ltd. and has made a follow-on investment of $770K (Rs 5 Cr) in Happily Unmarried Pvt. Ltd.
  
• Financial services company Avendus Capital has acquired Mumbai-based private equity firm Zodius Capital Advisors.
  
• Inksedge Infotech Private Limited, which runs an online portal for stationery and personalised cards, has ceased operating, reported VCCircle.
  
• Data analytics firm Mu Sigma’s former chief executive Ambiga Subramanian has teamed up with former head of operations Goutham Ekollu to launch a social-networking application christened hyphen.social.
  
• Augmented reality startup Play Shifu, has raised an undisclosed amount in a pre-Series A round led by IDG Ventures and IDFC-Parampara Fund.
  
• Flipkart has initiated talks with leading online furniture marketplace Pepperfry for a strategic investment, reported ET.
  
• Temporary staffing company TEAMLEASE Services Ltd will buy a 40 per cent stake in Schoolguru Eduserve Private Limited, a technology-led specialized academic services organization, for Rs 13.5 crore (about $2 million).
  
• Ford and China’s Anhui Zotye Automobile have agreed to invest a combined $756 million to set up a 50-50 joint venture in China to build electric passenger vehicles, both companies said on Wednesday.

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