Listed below are some of the major news of the startup sector, take a look to stay updated:
Future Group CEO plans to sell 10% of its shares to Walmart or Amazon
As Walmart announced its takeover of Flipkart, Future Group, the country’s biggest brick-and-mortar retailer, is looking to close a deal of its own — sell at least 10% stake to a global retailer.
A person in the know said Kishore Biyani has held early talks with Walmart and Amazon, the two American retail giants which will now be direct rivals in India.
Uber re-opens global contest to choose third ‘flying taxi’ city
Uber Technologies Inc on 9 May re-opened a contest to select the first international city to launch its proposed flying taxi project, following apparent delays in getting the service off the ground in Dubai, a previously proposed market.
UberAIR, as the service will be known, aims to launch demonstrator flights starting in 2020 and begin paid, intra-city operations in 2023, the company said.
Last year, Uber named Dallas and Los Angeles as its first launch cities and is now looking for a third, international metropolis to take part, Chief Product Officer Jeff Holden announced at its annual Elevate Summit in Los Angeles.
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Toppr Technologies gets Rs15.5 crore funding from Alteria Capital
Venture debt firm Alteria Capital has invested Rs15.5 crore in Toppr Technologies Pvt Ltd, which runs an eponymous learning platform.
Toppr, founded by Zishaan Hayath and Hemanth Goteti in 2013, offers learning programs focused on school curriculum and test preparation for major engineering and medical entrance exams in India.
The service is delivered through the Toppr app and caters to students from classes 5 to 12. The learning material includes questions, solutions, concepts, practice tests, and videos.
Unitus Ventures invests $1 million in AI startup i3systems
Unitus Ventures has led a $1 million (Rs 6.75 crore) in healthcare and life insurance-focused artificial intelligence startup i3systems.
The seed-stage investment also saw participation from two of i3systems’ existing list of high net-worth backers – Behram Vakil, founding partner of AZB Partners, one of India’s top law firms, and Jerxis Vandrevala, founder of Sanchez Computers.
The funds are expected to be used to partner with the country’s top 20 life and health insurance companies, and process 1 million policies through its digital platform.
Today’s Take Away:
When one embarks on the journey of becoming an entrepreneur, she is faced with so many challenges. Most important of all being that it is difficult to get people who believe in her and her idea. But that should never act as a deterrent for anyone.
As Josh James, co-founder, and CEO of Omniture, founder and CEO Domo says,
“When you find an idea that you just can’t stop thinking about, that’s probably a good one to pursue.”
