Here’s the daily dose of start-up news from India and around the world by BHIVE Workspace:
24th Apr ‘17
India startup #news:
• Oyo Rooms is closing a $250-million financing round led by its existing investor SoftBank. After this, it will be valued at $850 million.
• Snapdeal sale to Flipkart: Kalaari Capital comes on board
• MobiKwik looks to raise Rs 1,000 crore for expansion from the domestic private- and public-sector banks. Additionally, some of the mutual funds by end of this month or early next month.
• MobiKwik has reportedly approached FreeCharge for a merger in an all-stock deal
• Faasos has raised Rs 41.44 crore in an extension of its previous funding round from existing investors
• POPxo has announced that it has closed a Rs 20 Crore ($3.1 million) Series B funding round led by IDG Ventures India and Kalaari Capital. They had participation from Japan’s GREE Ventures, Philippines’s Summit Media, Atul Goel and Gurpreet Singh.
• UrbanClap raises Rs 20 cr venture debt from Trifecta Capital
• BankBazaar.com is exploring the possibility of a strategic tie-up with a few potential investors to strengthen its India business and enter a few other countries
• Flipkart is running a competition to enable an employee to become the CEO for a day, an exercise to familiarise employees with the challenges at different levels of the organization
• NIRAMAI Health Analytix, a breast cancer screening startup, has raised undisclosed seed funding led by pi Ventures, Ankur Capital, Axilor Ventures, 500 Startups and Binny Bansal
• Home cleaning startup MyDidi suspends its regular cleaning services; lays off over half of its 200 strong cleaning staff
Around the world:
• Alibaba’s Ant Financial invests undisclosed amount in Chinese bike-sharing startup unicorn Ofo
• Quora has reportedly raised $85 million in Series D funding from Collaborative Fund and Y Combinator’s Continuity Fund valuing it at $1.8 bn
• WeChat is more ‘sticky’ than Facebook – The average WeChat user now spends 66 minutes of each day glued to the app, compared to facebook’s 50 minutes
• HTC’s virtual reality headset Vive makes India debut