Listed below are some of the major news of the startup sector, take a look to stay updated:
Ola in talks to acquire FreshMenu
Soon after Ola announced the acquisition of Ridlr, the cab aggregator is now said to be in talks to acquire foodtech startup FreshMenu and another similar startup.
People close to the development have stated that no deal has been finalised yet. However, a separate food entity under Ola might be a possibility.
Sources claim that with its cab-hailing business, the food delivery business Foodpanda and payments vertical Ola Money, CEO Bhavish Aggarwal is considering ways to have independent assets that can add up to increase Ola’s valuation.
Matrix Partners invests in Mumbai-based blockchain startup Elemential Labs
Matrix Partners has invested an undisclosed amount in Mumbai-based Elemential Labs, a blockchain administration platform that helps developers build and manage blockchain networks at scale. This is the investment firm’s debut in the blockchain sector.
The round also saw participation from Investopad, Lightspeed India Partners, Digital Currency Group, Hinduja Group, Eight Innovate and several notable angels such as PayU India’s Amrish Rau, SlideShare’s Amit Ranjan, and former Facebook executive Prashant Malik.
The capital raised in this seed round will be used towards scaling the product in the first year post which funds will start flowing towards marketing and sales of the product.
YumLane raises $4Million funds from RB Investments
Mumbai-based FMCG startup QwikPik Technology, which owns and operates YumLane, has raised $4 Mn in a Series A round of funding led by Singapore-based family office RB Investments.
Flipkart co-founder Binny Bansal, Rehan Yar Khan-led early-stage venture capital firm Orios Venture Partners, and other HNIs (high net-worth individuals) were among the existing investors who participated in this round of funding.
The company plans to use the funds to develop products, increase retail footprint, hire sales and marketing executives, and manage its backend operations.
Logistics startup Loadshare raises funding from Stellaris Ventures and Matrix Partners
Bengaluru-based logistics startup Loadshare has raised an undisclosed amount of funding led by Stellaris Venture Partners and Matrix Partners India. The startup focuses mostly on small and medium enterprises.
The funds would be used by Loadshare to strengthen its core leadership team, expand into new geographies, and to scale its technology base.
As a part of the transaction, Alok Goyal, partner at Stellaris Venture Partners, will join the company’s board, the company said in a statement.
Today’s Take Away:
In this fast-moving world, none of us have the time for someone who is slow. But does that mean that being slow is always bad? Well, not if one is slow and uses that time to look around and learn more. Then, the person becomes more experienced.
Confucius, the famous Chinese philosopher had said,
“It does not matter how slowly you go as long as you do not stop.”
It is important to not to stop and carry on. In spite of the hurdles that life throws at us and makes us slow down, we should never stop.
