Listed below are some of the major news of the startup sector, take a look to stay updated:
E-commerce logistics firm Wow Express raises funding
Mumbai-based e-commerce logistics startup Wow Express has raised Rs 30 crore (around $4.5 million) in its Series A funding round from undisclosed existing investors as well as the Tamarind Family Trust.
The startup will be using the funds for geographical expansion, to strengthen its technology, and to hire executives for the finance and tech verticals according to Sandeep Padoshi, co-founder of the venture.
Bus aggregation platform Shuttl to raise $11 Mn from Amazon, others
Bus aggregation platform Shuttl is set to raise $11 million (around Rs 76 crore) in a fresh round of funding from a clutch of investors including e-commerce behemoth Amazon, according to those close to the development.
Japan-based Dentsu Ventures is the other new investor in the picture, the above-mentioned person said on the condition of anonymity.
Existing investors Sequoia Capital, Lightspeed Venture Partners and Times Internet Limited are also expected to contribute to the fresh round of funding.
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Times Internet buys MX Player for $147 mn to build video streaming platform
Times Internet Ltd (TIL), the digital business arm of media conglomerate Times Group, is planning a foray into video streaming with the acquisition of South Korea-based video platform MX Player for Rs 1,000 crore (around $147 million).
The deal marks the biggest acquisition till date by Bennett, Coleman and Company Ltd (BCCL), Times Internet’s parent firm, as a group and reflects its bullish outlook on the digital space. BCCL’s earlier big-ticket overseas acquisition – radio network Virgin Radio in 2008 – struggled to generate financial value.
Mumbai-based smart home automation startup Picostone raises funding
Mumbai-based smart home automation startup Picostone has raised an $803.2K (INR 5 Cr) funding, as co-founder Virang Jhaveri reportedly told Inc42.
Launched in December 2016 by Jhaveri, Preeti Jain, and Niket Sarvaiya, Picostone is currently working on developing cost-effective technologies and devices to bring home automation to all classes of the Indian society, thereby making such solutions affordable for all.
Today’s Take Away:
We often think that success is a point that we have to reach with a particular framework. We forget that success is a process and that we have to strive every day to remain successful.
David Weekly, Founder & Chairman, PBWorks says,
“There is no finish line. So enjoy the journey.”
