Funding news from India and around the world – Daily Digest

By Published On: June 1st, 2017Categories: Articles, News1.8 min read
funding news from India

Here’s your daily dose of start-up news from India and around the world. 1st June 2017. BHIVE WORKSPACE

India startup #news:

• Indians are spending 28 hours on mobile as compared to 4 hours on television, with 45% of time spent on entertainment and 34% time spent on search, social & messaging per week accg to the latest Mary Meeker report
• Uber is considering the possibility of letting customers request for cabs using calls and text messages
• Flipkart’s US-based research arm, is looking at growing its presence in Silicon Valley as it focuses on building artificial intelligence-based products to help the Indian ecommerce giant improve business processes and customer interactions
• Chillr to offer users with micro credit & enter mutual funds, insurance

• Cloud startup Minjar looks to touch $5 mn in ARR banking on its Botmetric Intelligence Platform
• Jabong to now house Myntra’s private labels
• Temasek-backed analytics firm Manthan in talks for majority stake sale
• Cisco security solutions will integrate with IBM’s ‘QRadar’ enterprise security solution to protect organisations across networks, endpoints and Cloud.
• YES Bank’s UPI bet helps them make a space for itself in digital payment ecosystem

• UIDAI says no cyber attack on Aadhaar biometric data till date
• BookMyShow revamps its mobile site as a progressive web app
• Indian homemakers generate $8-9Bn in sales through WhatsApp, Facebook according to a Zinnov consulting report

Funding news:
• IAMAI is planning to set up a mobile app incubator IAMAI Mobile10X in Kozhikode and Gurugram
• Amit Rathore and two other US-based investors are launching two new funds with a combined corpus of about $244 million to invest in early-stage and late-stage technology ventures in countries including the US and India

Around the world:
• Uber’s head of finance, Gautam Gupta, is leaving the company in July, as Uber has reported losses of $708 mn in Q1
• Uber blew through $1 mn a week in an effort to make UberPool viable in San Francisco
• The Pokémon Company’s profits jump by 2,500 percent
• Blockchain-based startup fund Bitcoin Growth Fund raises $14.5 M in its ICO
• SoftBank is taking a significant minority stake in OSIsoft LLC, a privately held maker of industrial software used to manage plants and factories
• Walmart is bringing VR instruction to all of its U.S. training centers

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