Early-stage funding by venture capital investors in startups hit a two-year low in the July-September quarter.
The fund-raising, when goes through, maybe the first ‘down round’ in the country for a unicorn, or a startup valued at over a billion dollars.
The investment has been made through Infosys' $500 million Innovation Fund, which has previously backed Silicon Valley-based early-stage venture capital firm Vertex Ventures.
Udaan has hired a team of over 20 people, half of whom have been picked from Flipkart to form a core team who are initially focusing on products in electronics and apparel.
Indian taxi aggregator Ola launches Ola Play, an in-cab entertainment system, in a bid to beat US-based competitor Uber and break even in the next three years.
The Paris-headquartered firm is counting on working closely with global technology startups across the world, including in India, as it looks to increase engagement with its clients seeking to make their businesses more tech-savvy.
The firm has roped in Ashutosh Sharma, who till recently was with the India team of Silicon Valley-based venture capital firm Norwest, to lead investments and merger and acquisitions in the country.
Demonetisation impacts daily operations as cos like Flipkart & Zomato accept cash for 60-70% of orders; some working on alternatives to make doorstep payments.
The market for logistics-technology businesses, which include delivery startups, truck aggregators and warehousing firms, is expected to surge from $1.4 billion in 2015.
While Softbank mentioned Snapdeal and Ola specifically in the write off, it did not mention other India portfolio companies like hotel booking platform Oyo, grocery delivery app Grofers and real estate classifieds player Housing.
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