Latest Startup News India from Startup Ecosystem by StartupTalky! [Funding, Acquisition, Innovation & Technology]
Akshay Kothari, Head of LinkedIn India quits
Akshay Kothari, head of LinkedIn India and VP of International Product has stepped down from his position after working for 5 years with the world’s largest business and employment oriented company. His LinkedIn profile suggests he left the company in August 2018. LinkedIn confirmed his exit in an emailed statement suggesting that Kothari will be starting his new venture soon. He has moved to San Francisco. Kothari, who joined LinkedIn in 2013, was elevated to the role of Head of International Product earlier this may after serving as Principal Product Manager for LinkedIn for two years from April 2013- December 2015.
Affle acquires Vizuri in an all-cash deal of nearly $10million
Affle, a global tech company with a consumer intelligence platform, has acquired Vizuri, a Bengaluru based growth marketing startup in an all-cash deal of about $10 million. A leading investment firm, Malabar Investments have funded Affle around Rs.136 crore in July this year. Founded in 2005, Affle filed the draft prospectus for its Initial Public Offering (IPO) in June and is anticipating for the same in October. Vizury, with a good number of investors backing it up including Ascent Capital, NGP Capital, and Inventus Capital Partners has made its presence in the UAE and Singapore.
Robotics startup GreyOrange raises $140 million in Series C funding
GreyOrange, an AI-powered robotics company has raised $140 million in the latest round of Series C funding, with the valuation estimated to be between $400 Mn – $500 Mn. The participating investors included existing Blume Ventures, Flipkart Co-founder Binny Bansal and Mitsubishi and Project Verte. This round was led by Mithril Capital, a venture firm co-founded by Ajay Royan and Facebook investor Peter Thiel. Founded by Samay Kohli and Akash Gupta in 2011, it produces nearly 1,500 robots every month and has a significant customer base both in India and overseas.
Tencent funds $100 million to fantasy sports platform Dream11
Dream 11, Mumbai based fantasy sports platform have closed it on $100million in a round of Series D funding led by Tencent, a Chinese multinational investment company. Investors that took part in addition to Tencent were Kalaari Capital and private equity firm Multiples Alternate Asset Management. Dream11 has more than 4 crore users in India while Tencent Holding is a giant in China with a significant user base. India’s gaming industry is worth over $890 million.
IT Firm Persistent Solutions acquires Healthcare startup Hearld Health.
Persistent Solutions, a Pune headquartered IT firm, has acquired Boston-based healthcare startup Herald Health. Founded in the year 2015, Herald health is solely digital health startup originated from a nine-month contract with Brigham and Women’s Hospital in July 2017. Over the last one year, Herald Health has incorporated several noteworthy features in it. “This acquisition further strengthens our IP portfolio in healthcare that includes our co-innovation work with leading university health systems and research organizations, as well as solutions that we’ve built jointly with our partner ecosystem”, said Rahul Patel, GM Healthcare Solutions at Persistent Systems.
PaisaDukan launches its Hindi version
PaisaDukan, a Mumbai-based online money lending platform issued a statement announcing the launch of its web-portal in Hindi. This move was brought about just after a day Amazon, the e-commerce giant, launched its website and app version in the Hindi language. With this feature, PaisaDukan becomes the first online marketplace to offer loan and investment facility in Hindi. Founder Rajiv Ranjan asserted that call for a vernacular language is crucial considering the fact that India the second largest market after China and is expected to grow.
Tea startup Haazri raises a seed funding of Rs.1.25 crore
Mumbai-based Tea startup Haazri raised a seed funding of Rs.1.25 crore from Artha Venture Fund. The firm specializes in selling tea, filter coffee and snacks incorporate traffic areas and low-cost kiosks at corporate parks. It has five outlets and caters to around 50 offices with. Haazri plans on making use of the funds by opening 20 outlets across different parts of the state. It also has a logistic service on board for delivery purposes.