Startup News – 9th October 2017

Startup news for the day:

• IBSFIN tech, an integrated treasury management fintech startup, has raised seed funding from Shailesh Haribhakti, chairman of Haribhakti & Co., one of India’s top risk advisory, auditing and tax consultancy firms.
• Home interiors startup mygubbi has raised $2.7 million in pre-series A funding in a round led by the family office of Firoze Irani; Vipul Parekh, co-founder of Bigbasket; Ananda Kallugadde, co-founder of NeoBytes; and Rajesh K Murthy, president of Infosys, among others.
• VC firm IvyCap Ventures is planning to launch a Rs 500 crore venture debt fund in the next three months.
• Vertex Ventures, the venture capital arm of Singapore state investor Temasek Holdings, said it has raised a $210 million fund to invest in Southeast Asian and Indian startups, exceeding its original target size of $150 million.
• In its two batches in 2017, Y Combinator has seen the entry of 18 Indian startups, more than the aggregate of 12 between 2011 and 2016. The winter 2017 batch that ended March had 11 Indian startups, while the summer batch that finished in August had seven.
• Bengaluru to be first Aadhaar-enabled airport in the country by Dec 2018
  International co-location firms are looking at entering the data centre market in India as the country’s digital growth and a presence of global public cloud players are creating new opportunities.
• India’s leading eyewear company – Lenskart, today announced notable Bollywood star – Katrina Kaif, as its first ever brand ambassador.
• LBBOnline – The Little Black Book, the de-facto destination for all local recommendations and discoveries has announced the appointment of Rohit Jain as its Chief Technology Officer.
• BYJU’S, India’s largest education company and creator of the largest personalized K-12 app in the country unveiled its new identity and refreshed brand logo. Celebrating personalized and life-long learning experiences, the new logo signifies the ‘Window to learning’ that BYJU’S opens up for students across grades and geographies.
• Droom – India’s Most Trusted Motorplace has launched Droom Discovery, India’s largest collection of vehicle pre-buying research and discovery tools.

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