Below is a list of deals that happened in Indian Startup Ecosystem today (22th Jan) including funding, merger, acquisition and many more.
1. Paytm, India’s largest mobile-first financial services platform, announced that it has launched the ‘Paytm for Business’ app on Android Play Store. The app enables new merchants to sign up quickly and get a Paytm QR code to start accepting digital payments. Merchants can also manage their day to day payments and day-end reconciliations.
2. AI-based HRTech startup Skillate has raised an undisclosed amount of funding from Incubate Fund India, and Industry expert and Director of Zyoin, Anuj Agrawal, reported Inc42.
3. Flipkart has lost an appeal against the Income Tax (IT) department over the reclassification of marketing expenditure and discounts as capital expenditure, which involves substantial tax liabilities. As per the ruling in December, the IT department wants ecommerce companies to reclassify discounts as not a cost but a capital expenditure, reported ET.
4. A Delhi court has restrained Flipkart from using brand MarQ until February 5, reported ET. The interim judgement came after city-based appliances manufacturer Marc Enterprises alleged that Flipkart’s brand was similar to its own and in violation of its trademark registered in 1984.
5. B2B foodtech company, HungerBox has closed a Pre-Series A funding of worth $2.5 Mn led by Lionrock Capital and Kris Gopalakrishnan, Co-Founder, Infosys.
6. Mumbai-based traveltech startup Goomo has acquired a B2B vehicle rental marketplace WagonBee.
7. OptaCredit, the alternative-lending fintech startup, has secured an initial $4M credit line from DMI Finance.
8. VC firm, Nexus Venture Partners, is expected to raise its fifth fund targeting a corpus of $350M-$400M, reported ET.
9. Edtech startup, AEON Learning has raised $3.2M in a Series B funding round from MEMG Family Office LLP.
10. Travel app, RailYatri has acqui-hired Kochi-based food delivery technology startup, YatraChef.
11. Online classifieds firm OLX has appointed Momtaz Moussa as India general manager.
12. One Co.Work has set up a co-working space for blockchain startups in Bengaluru.
13. Godrej Agrovet Ltd, the agri-business subsidiary of Godrej Industries Ltd, has acquired majority stake of 51 per cent in Israel-based bio-tech firm Maxximilk Pvt Ltd, for an undisclosed amount.
14. IDFC-Parampara Early Stage Opportunities Fund, which is backed by the Central Government’s FFS Scheme (Fund-of-Funds for Startups), has logged its first full cash exit from Mumbai-based S-Cube Futuretech, reported ET.
15. Future Group is in advanced stages of discussions to acquire South India-focussed grocery retailer Foodworld Supermarkets, reported ET.
16. OptaCredit Fintech Pvt. Ltd, a digital lending start-up focusing on white-collar salaried workers, has secured a credit line of $4 million from DMI Finance Pvt. Ltd, a non-banking financial services company (NBFC).
17. Yes Bank-backed ISME ACE accelerator has finalised its first cohort of 6 startups.
18. P3 Engineering and Consulting last week, launched a Center of Excellence (CoE) for Aerospace Design Training in association with NSDC and AASSC (Aerospace & Aviation Sector Skill Council) in Bengaluru. Together, they will be investing more than $5 million to train and skill over 10,000 fresh & experienced engineers over 7 years, reported ET.
19. Travel startup ixigo launches AR feature on its app for train passengers
20. IDFC-Parampara Early Stage Opportunities Fund, which is backed by the Central Government’s FFS Scheme (Fund-of-Funds for Startups), has logged its first full cash exit from Mumbai-based S-Cube Futuretech, reported ET.
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