Wednesday Startup Updates (4th Oct 2017)


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


1. Local recommendations platform for places, services and events Little Black Book (LBB) has raised Rs 6.5 crore in its third institutional round of funding, led by Blume Ventures, also saw participation from existing investors including IDG Ventures and Indian Angel Network (IAN).
2. As per a report by Recode, SoftBank would likely invest $1-$1.25B in Uber at a valuation of $70 Bn.
3. Paytm Payments Bank reported losses of around $4.6 Mn (INR 30.7 Cr) between August 2016 and March 2017
4. Bengaluru-based Elanic, a peer to peer platform to sell used fashion clothing online, has raised funding from a Tokyo-based incubator and venture capital investor Digital Garage.
5. Yesterday Flipkart’s board approved a $100M ESOP repurchase plan, today the company has confirmed that the repurchase of stock options will take place at $85.2 (INR 5,561) per unit. Each transaction will also carry a fee of $3-$4, as per the sources.

6. European payments player Worldline has entered into a definitive agreement to acquire 100% stake in Chennai based Indian payment platform MRL PosNet for $104.5 Mn(€ 89 Mn).

7 IFC – International Finance Corporation & Karo Sambhav Private Limited Collaborate to Build a Sustainable Electronic Waste Solution for India

8. Ministry of Food Processing Industries, Government of India Invites Applications from Startups Across India with Innovative Solutions in the Food Sector. The application deadline has been extended till 08 October, 2017.

9. As part of its ongoing strategy of growth in India,itelligence India Software Solutions Private Limited, (“itelligence India”) – has acquired 100% of vCentric Technologies Private Limited (“vCentric”), a reseller of SAP software and premium SAP services provider based in Hyderabad.

10. Diagnostics Startup MedGenome To Raise $10 Mn In Series C Round Led By Sequoia

11. InnoVen Capital Appoints Ashish Sharma as CEO for India

12. iSPIRT co-founder Avinash Raghava joins Accel Partners

13. California-headquartered global fund CerraCap Ventures, which makes early-stage technology investments, is currently raising a $50 million fund, reported DealStreetAsia.

14. Bangalore-based CollPoll, a communication and collaboration platform for educational institutes, has raised around Rs 2 crore ($306,000) in funding led by seed-stage investor Sprout Angels LLP.

15. PhonePe receives $38.7 mn in fresh funding from parent Flipkart

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