VP Weekly | 10 Feb '19
Mukesh Ambani to invest $1.4 Bn in Bengal, will help e-commerce expansion
Reliance Industries chairman Mukesh Ambani will invest $1.4 Bn in West Bengal, a part of which would fund the company’s new e-commerce venture. Read More
SoftBank to invest $440 mn in Indiabulls Housing-backed OakNorth Bank
Japanese internet conglomerate SoftBank Group Bank is investing $440 Mn in the UK-based OakNorth Bank, which counts Indiabulls Housing Finance Ltd as a shareholder. Read More
Startup News Snippets
M&A News
Editor’s Weekly Pick
By now almost everyone has heard about the so-called Angel Tax ‘terrorism’ by IT dept against Travel Khaana & others. Though some relief was announced before, there is more expected.
–Abhishek
Market Pulse
- Indonesian ride-hailing company Go-Jek raised $1 Bn as part of its Series F funding round led by Alphabet’s Google, JD.com and Tencent Holdings.
- India’s largest bus aggregator Shuttl has entered the hotly contested food delivery space by launching meals on buses for daily commuters, as it looks to further monetise its captive customer base.
- Chicago-based freight tracking logistics startup FourKites will utilize a part of its $50 Mn Series C funding led by existing investors August Capital, Bain Capital Ventures, CEAS Investments and Hyde Park Angels
- Kerala has collaborated with Unicorn India Ventures, Exseed Electron Fund, IAN and Speciale Incept Fund for an investment of more than $140 Mn in the state startups over the next four years.
- Canadian private equity firm Brookfield Asset Management is in preliminary talks with India’s Reliance Industries to buy a stake in its optical fibre and telecom tower assets
- Bengaluru-based hyperlocal grocery delivery company, BigBasket, is closing a $150 Mn (INR15 Cr) funding round. The funding round values BigBasket at $1 Bn pre-money, which would make the company the first India startup to join the unicorn club in 2019.
- The winning teams of Microsoft India’s AXLE, a Microsoft Academia Accelerator include IIT Madras: UAVs for Disaster Management, IIT Guwahati: DUBG, and IIT Jodhpur: Disaster Chain.
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