Here’s your daily dose of startup and funding news from India and around the world.
19th Apr ‘17
India startup #news:
• SoftBank is considering a sizeable investment of ~$1.5bn in Paytm in a deal that could value Paytm at over $7 bn.
• Myntra has acquihired logistics startup InLogg to reduce their delivery costs in smaller cities by about 25%.
• Goldman Sachs & Credit Suisse to set terms for Flipkart’s Snapdeal buy.
• Asset Vantage, a Mumbai-based fintech company that offers a SaaS-based investment portfolio management software, has acquired Santa Clara-based software company Financial Navigator. The 30-year-old American firm that also runs a portfolio tracking software focused on the wealth management market.
• Omni Hospitals in talks with PE firms to raise $50M.
• US, UK, Australia and Singapore reforming work visas to protect local jobs; Australia scrapped a visa programme yesterday that was being used extensively for transfer of skilled foreign workers while US executive orders expected a day later will overhaul the H-1B system.
• Telecom regulator TRAI plans multiple open house talks on net neutrality.
• Aircel may approach RBI for payments bank licence.
• India to enact data protection laws by October.
• TCS profit misses mark as BFSI & retail verticals disappoint.
• Nomura has launched the `Voyager Nomura Fintech Partnership’, a global accelerator cum co-creation platform. The idea is to collaborate with startups all over the world to build products and solutions specifically for capital markets.
• Samara Capital has struck a deal with a facility management services provider. This is to set up an investment platform that will seek to acquire companies in the segment.
Around the world:
• China EV startup Nio to sell mass-production car next year.
• Ant Financial merges with Lazada’s HelloPay Group.
• Baidu to launch its self-driving car technology for restricted environment in July before gradually introducing fully autonomous driving capabilities on highways and open city roads by 2020.
• At Facebook F8, Zuckerberg launched Camera Effects platform that allows artists and developers to create augmented reality effects for the Facebook camera.
• Wells Fargo tests Facebook chatbot.
• Facebook Spaces allows users to hangout with their friends in VR.
• Instagram on Android gets offline mode.
• Facebook announces React Fiber, a rewrite of its React framework.
• Google Earth is getting a revival with a new feature called Voyager. Google has partnered with BBC and NASA to add video clips, photos and text narratives to 3D representations of particular locations.