Today Startup Updates (3rd Oct)

Today Startup Updates (3rd Oct)

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Here is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:

1. Olacabs has reportedly raised $2B in a fresh funding round led by the investment arm of Chinese Internet giant, Tencent with participation from Softbank Group Corp.
2. Diwali bonus for Flipkart staff: The board of Flipkart has approved a plan to repurchase employee stock options in a move that could benefit close to 6,000 current and former employees of the company. Besides Flipkart, employees of Myntra and PhonePe will also be a part of the repurchase programme. Employees will be allowed to sell a certain percentage of their vested shares under the programme
3. Zomato has waived off ‘per cover’ fee or platform fee for restaurants that enable table reservations through Zomato.
4. Beijing-based bicycle sharing startup, Ofo, is planning to enter the Indian market by the first half of 2018.
5. Venture Catalysts has made an investment into a fintech startup HomeCapital, focussed on home down-payment assistance to fist time home buyers.
6. Mobikwik today announced its association with IRCTC Rail connect app under which users can now pay through MobiKwik’s Payment Gateway, while booking their tickets on IRCTC.
7. RevvX Hardware / IOT Accelerator has entered a strategic partnership with Silicon Valley Innovation Center (SVIC) to enable Corporations and Startups in Asia access to Silicon Valley thought leadership and consulting expertise.
8. Digital medical consultation platform DocsApp – Consult Doctor on Chat is close to finalising its Series-A fundraise of about Rs 36 crore ($5.5 million) from Bessemer Venture Partners.
9. Karnataka govt to invest $6 mn in AI and data science capabilities in the state and across the country

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