Another major development is that Amazon India has been asked to keep its food-only retailing business away from its existing flagship marketplace business
Google acqui-hires four-month-old Indian startup Halli Labs
Global search engine giant Google has acqui-hired Bangalore-based stealth mode startup Halli Labs. The transaction details are unknown.
Halli Labs is engaged in developing solutions to traditional problems using Artificial Intelligence, deep learning and natural language processing technologies. Halli Labs is applying modern Machine Learning techniques to old problems and domains to help technology march on in its timeless purpose— that of giving superhuman powers to all of us humans in letting us do whatever we want to do, better.
Paytm buys majority stake in online ticketing platform Insider.in
Alibaba-backed Indian m-commerce and online payments major Paytm has acquired a majority stake in Insider.in, an online ticketing and events platform, for nearly US$5.4 million. Following the acquisition, the focus will be on making Insider.in accessible to Paytm users.
Insider is a new curated lifestyle platform that gives you access to a handpicked selection of events and products. It’s a marketplace to find cool stuff to do and interesting products to buy. The platform is owned by OML.
Vulcan Post’s parent Grvty Media raises US$727K from Spout Entertainment Group
Singapore-based Grvty Media, a collection of media products targeting millennials, has raised S$1 million (US$727,000) from e-sports firm Spout Entertainment Group for a 27.7 percent stake. Grvty’s portfolio includes Vulcan Post and some other internet properties in travel, fashion, and entertainment.
India asks Amazon to keep food business and marketplace separate
The Indian government has asked Amazon to keep its food-only retailing business away from its existing flagship marketplace business, where foreign firms are not allowed to sell products to consumers directly. Amazon on Monday announced US$500 million investment for a new food retailing business, said a report by The Economic Times.
The government has also asked the US firm to maintain a separate management and offices for the food retailing venture and not mix it up with its marketplace business.
Indian Angel Network invests in bio-CNG startup Carbon Masters
Carbon Masters, a Bangalore-based energy startup, has raised an undisclosed amount in funding from Indian Angel Network and Sangam Ventures, a pure-play clean tech venture fund. The round was led by IAN investors Nagaraja Prakasam, Mridula Ramesh and Karthik Chandrasekar from Sangam Ventures.
Established in 2012, Carbon Masters has developed India’s first bottled bio-CNG brand Carbonlites. Launched in 2014, Carbonlites is bio-CNG produced from the biomethanisation of organic waste streams, diverts waste from landfills mitigating methane emissions, displaces LPG for commercial cooking, and other fossil fuels for transport and backup power generation.
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