Listed below are some of the major news of the startup sector, take a look to stay updated:
Lenskart plans to invest $ 2-3 million in tech startups focussing on eye-care
Ratan Tata-backed Indian eyewear startup Lenskart has plans to invest $2-3 Mn in startups working on either products or technologies that can help provide affordable eye care solutions. The intent for investing in these early-stage startups is to collaborate in the development of innovative products.
Following this strategy, Lenskart has invested $500K (INR 3.3 Cr) in a US-based startup ThinOptics, which makes innovative reading glasses that can be attached to a user’s phone or keychain, so that the user can’t misplace it.
Corporate training startup Disprz raises funds
Disprz, which offers an employee development and engagement platform for enterprises, has raised $2.5 million (around Rs 16.5 crore) in a Series A round of funding from IL&FS Private Equity and existing investor Kae Capital.
The startup plans to use the money to boost its data science capabilities and expand to overseas markets.
Founded in 2015, Disprz provides educational training and content through a software-as-a-service (SaaS) model.
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Infibeam to acquire Snapdeal’s Unicommerce for up to Rs 120 crore
Ahmedabad-based Infibeam Incorporation, India’s first listed e-commerce player, is acquiring Snapdeal’s wholly owned subsidiary Unicommerce, a cloud-based inventory management company.
It’s a non-cash deal and the deal size is up to Rs 120 crore, where Infibeam will issue optional convertibles preferential shares to Snapdeal.
Unicommerce is a technology company of Snapdeal (Jasper Infotech) that provides warehousing management or inventory management, multichannel, omnichannel and order fulfillment solutions to various businesses across India.
ShareChat valuation may hit $400 million in a new round
In what will be the most hotly contested investment deal in a startup, over half a dozen top global financial and strategic investors like We-Chat owner Tencent, South African media firm Naspers, investment firms DST Global, Hillhouse Capital and Morningside Ventures, US-based e-commerce giant Amazon and Chinese online media players Toutiao and Kwai, among others, are in talks to invest in regional language social platform ShareChat, according to three sources familiar with the matter.
This deal, if finalised, is expected to increase the valuation of the startup 4-5 times to $400 million in less than six months after it raised funds from Chinese smartphone maker Xiaomi and venture capital firm Shunwei late last year.
Today’s Take Away:
They say that one should aim for the stars. But how exactly should one dream of achieving? Is it advisable to dream big or should one cut the coat according to one’s cloth?
Well, Masayoshi Son, CEO, Softbank has the answers to these questions. He says,
“Do not be bound by this age; aim to create a new age that will delight people throughout the world.”
