Softbank may invest $2-3 Billion in Reliance Jio
Japanese conglomerate SoftBank is reportedly looking to invest around $2 Bn to $3 Bn in Mukesh Ambani led Reliance Jio through the $100 Bn Vision Fund.
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Piramal plans to merge three Shriram entities; mulls exit
Piramal Group plans to merge all three entities of Shriram group and financial services – Shriram Capital, Shriram Transport and City Union.
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Startup News Snippets
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Editor’s Weekly Pics
Large enterprises are becoming better at driving innovation and make strategic investments by setting up in-house incubation centers. Here is a good summary of corporate incubators from Forbes.
–Abhishek
Market Pulse
- Indian sweets and snacks brand Haldiram has entered the Indian startup ecosystem with an undisclosed investment in Mumbai-based integrated incubator Venture Catalysts (Vcats).
- South African Internet conglomerate Naspers has sold its stake in online travel company MakeMyTrip (MMT) to Chinese travel agency Ctrip.
- Online classifieds marketplace Quikr acquired Bengaluru-based used goods marketplace Zefo, for INR 200 Cr ($28.51 Mn). With Zefo, Quikr is looking to further scale its pre-owned goods and services vertical.
- Ministry of Commerce and Industry has proposed setting up ‘India Startup Fund’ with a corpus of INR 1,000 Cr to support high technology startups.
- Tata Trusts and Social Alpha announced the launch of Social Alpha Energy Challenge 2.0 (SAEC 2.0) to find disruptive, innovative and impactful technology blueprints and prototypes across the energy value chain.
- Mumbai-headquartered impact venture fund Omnivore announced the final close of its second fund, Omnivore Partners India Fund 2, at $97 Mn.
- M3 India, the Indian subsidiary of Japanese Healthtech company M3, picked up a majority stake in Bengaluru-based edtech startup Neuroglia Health Private Limited (NHPL).