VP Weekly | 21 Apr ’19
Despite TikTok Scrutiny, ByteDance To Invest $1 Bn In India
ByteDance’s TikTok app was removed from Google Play Store and Apple App Store in India, but ByteDance remains bullish on the Indian market. The Chinese social networking company is now planning to invest $1 Bn in its India operations.
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Cred Raising $100 Mn From Hillhouse Capital, Existing Investors
Bengaluru-based credit card bill payment startup Cred is reportedly looking to raise $100 Mn from China-based venture capital firm Hillhouse Capital and its existing investors which include Sequoia Capital, Ribbit Capital, Apoletto Asia among others.
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Startup News Snippets
M&A News
Editor’s Weekly Pics
One of world’s best known VCs – Sequoia Capital started a program called Surge for early-stage startups. Here is the first cohort of 17 that recently graduated, with some ‘incredible’ business models.
–Abhishek
Market Pulse
- The Government of Maharashtra last year introduced Mumbai FinTech Hub to enable financial empowerment and technological advancement by nurturing start-ups with the potential to scale
- Eight Indian Startups have made it in the first cohort of 17 startups selected under Sequoia Capital’s startup accelerator and incubation programme Surge
- Railways-owned Indian Railway Catering and Tourism Corporation and Indian Railway Finance Corporation are planning INR 1500 Cr through initial public offerings by September this year
- TalentSprint announced Women Engineers Program supported by Google, to nurture 600 women software engineers from India over the coming three years
- Bengaluru based online footwear startup Rapawalk raised $350K in a seed funding round from angel investors including Raveen Sastry, Sanjay Ramakrishna, Ravi Garikipati and Ajith Pai
- Bengaluru-based Business Services provider Quess Corp acquired Hyderabad based business process solutions provider Allsec Technologies
- Mumbai-based AI-centric edtech startup WhiteHat Jr raised $1.3 Mn in a seed funding round from Nexus Venture Partners and Omidyar Network India
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