InMobi to serve ads on Microsoft’s search engine Bing globally & More

Below is a list of deals that happened in Indian Startup Ecosystem today (28th June) including funding, merger, acquisition and many more.

1. Times Internet (TIL), a Times Group company, on Wednesday confirmed the acquisition of South Korea-based video platform MX Player, in a deal worth Rs 1,000 crore.

2. Ecommerce delivery platform WOW Express has raised $4.5 million (about Rs 30 crore) from existing investor including, Tamarind Family Private Trust of the Mansukhani family, the co-promoters of Mirc Electronics, which owns consumer durables brand Onida.

3. UST Global, a digital transformation solutions company, has raised $250 million from Singapore’s sovereign wealth fund Temasek and marked its entry into unicorn club.

4. Within months of launching operations in China, hotel chain Oyo Rooms is now looking to set up business in Indonesia, UK and across Europe.

5. The defence ministry has specified new rules for homegrown startups to take part in military projects. Under the new rules, startups recognised by the Department of Industrial Policy & Promotion (DIPP) under certain categories will automatically qualify to take part in specified defence projects range from aeronautics, nanotechnology and Virtual Reality to renewable technology, robotics, green technology and internet of things.

6. SoftBank-backed adtech firm InMobi is in talks to serve ads on Microsoft’s search engine Bing globally as the technology company looks to increase its market share

7. Google has added Telugu language support for its advertising products – Google Adwords and Google AdSense.

8. Facebook is ending a program launched in 2014 to build a fleet of solar-powered Aquila drones that could deliver internet to underserved areas of the world.

9. Tiger Global-backed Delhi-based company Roposo (now Roposo- TV by the People) had posted a loss of Rs 30.96 crore in the fiscal year 2016-17 against the revenue of Rs 1.29 crore in the same fiscal.

10. India Zebpay is asking their users to withdraw money before the deadline as RBI mandate to ban crypto-related businesses by July 5.

11. Senior government officials have refused to use electric cars made by Mahindra and Mahindra Ltd and Tata Motors Ltd citing poor performance and low mileage, reported LiveMint.

12. Mumbai-based WazirX has now launched P2P crypto transfer solution to help crypto enthusiasts continue buying and selling of cryptocurrencies.

13. Wholesome Habits Pvt. Ltd, which sells healthy snack bars under the brand name Eat Anytime, has raised $500,000 (Rs 3.43 crore) in seed funding from early-stage investment firm Sprout Venture Partners and a few high-net-worth individuals, reported VCCircle.

14. After Disbursing Over Rs 750 Cr to 60K Micro Businesses, Aye Finance Launches Android-based Loan App to Expedite MSME Lending

15. Billion, the personal Make In India, private label project of Flipkart co-founder Sachin Bansal, has now been rolled into the overall private brands business of the online retailer, reported LiveMint.

17. Bus aggregation platform Shuttl is set to raise $11 million (around Rs 76 crore) in a fresh round of funding from a clutch of investors including Amazon, reported VCCircle.


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