Start-Up news from India and around the world – 24th Apr ‘17

By Published On: April 25th, 2017Categories: Articles, News1.6 min read
start-up news from India and around the world

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 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

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