Daily Start-up news from India and around the world – 29th May 2017

By Published On: May 30th, 2017Categories: Articles, News1.8 min read
daily start-up

Here’s your daily dose of start-up news from India and around the world – 29th May ‘17 BHIVE Workspace

India startup #news:

• PayU India sets $100M revenue target for FY 2017-18
• OYO plans to hire 5,000 people in eight months
• Flipkart appoints former BD head as CEO of after-sales service arm
• SoftBank wants its portfolio company, homegrown cab-hailing operator Ola, to pivot into an electric car manufacturer
• Mobile banking portal operator Cube Consumer Services, which was launched by co-founder of online payments company Citrus Pay, Satyen Kothari, has raised its first external funding
• Mass market mutual fund investment platform Nivesh.com, has raised an angel round from VCCircle founder PV Sahad, former head of investor relations at Infosys Sandeep Shroff and Right Global Infosolutions CEO Rahul Gupta

• BharatQR faces delay as banks are not yet ready to scan these codes
Amazon Pay plans to sign up with govt bodies for bigger cut of payments
• Train passengers can now book tickets online without paying via ePayLater
• India’s own GPS set to hit the market early next year
• Infy’s AI platform Mana became Nia due to SAP objections
• Indian govt. is reportedly in early talks with the Japanese investment major SoftBank for a low-interest funding of around 2 Lakh electric buses to be deployed in public transport
• SBI seizes 300 cabs, suspends car loans to Ola-Uber drivers

Funding news:

• Helion Venture Partners’ MD Rahul Chandra has floated a new venture capital called Unitary Helion, which is planning to raise a $100-million fund focused on deals in the financial technology space
• Unitus Seed Fund ropes in Milind Shah as healthcare venture partner as it is setting aside Rs 100 crore to invest in the healthcare space over the next five years
• Govt Fund-of-Funds manager DIPP has asked the finance ministry for an additional allocation of Rs 1,600 crore in the current financial year
• UAE hosts first Startup India summit – opens gates for Indian startups in Middle East

Around the world:

• Honda Cars partners with IBM Watson to improve ‘Honda Connect’
• Spotify settles lawsuits, adds board members as it gets ready to go public
• Google has reportedly launched a new AI-focused venture capital program

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