Alibaba Cloud is set to launch a new distribution channel to tap into the opportunities presented by the growth in Indian startups and small businesses. It has also said that it will build specialized teams to focus on different segments in the highly diversified Indian market and plans to train 1000 sales and technology personnel in the coming six months to strengthen its new distribution network.
Shop101, a social e-commerce website, which helps entrepreneurs to sell their products online, has raised $25 million in its latest funding round from Stellaris Venture Partners. The online platform enables small businesses to set up an online store in a few minutes. They provide seamless technological and logistical support to its users. With the latest funding round, it aims to invest in further development of their product team as well as increasing their supplier network.
According to sources, Google is all set to acquire start-ups keeping in view its aim it's acceleration program in Brazil. Google is currently eyeing got ventures which focus on technologies such as artificial intelligence as part of the second intake of the start-up program in San Paulo.
There are reports that a certain app is able to read Wikipedia in order to teach you regarding cities through which you are driving. The app will be able to read to you regarding places and points. This app is especially for those who are Wiki-addict and love obscure local trivia.
Artha Venture fund is all set to mark the first close of its seed fund which is approximately around $29 million. The first close will be around $6 million and the final close is expected in the coming 6 to 12 months. In the month of March this year, Artha India Ventures got approval from the Securities & Exchange Board of India.
Y Combinator - Backed growth is all set to raise around $1.6 million in a pre-series A funding. The main purpose of using this funding will be for strengthening its technology and enabling the building of scale growth channels.
According to sources, serverless computing is all set to unleash a new startup ecosystem. Though serverless computing is not new but still it seems to acquire an interesting place in the development. As more and more developers are recognizing the importance of serverless architecture it can lead to a whole new level of startup ecosystem.
Digital payments & fintech startup Innoviti Payments has invested $2.9 million into developing new technology for its PoS (point of sales) terminals, as it loos to expand into sectors like healthcare and education. The company also boasts of three-second transaction timelines, 95% success on card transactions, and has a network of more than 11,000 retail outlets spread over 850 cities in India.
Phygicart which is a UAE based firm is all set to invest approximately $14.5 million with a view to enter the Indian ECommerce market. Apart from entering the Indian market it is also planning to make its expansion into 7 different countries by the year 2022.
Online beauty and wellness marketplace Nykaa has added a new section for men called Nykaa Man, expecting a revenue generation of about 10% of the total in a couple of years. The company, founded back in 2012, has raised about $37 million in funding, and raked in $86.09 million in FY18. It offers more than 150-200 brands across categories such as men’s fragrances, luxury skincare, and premium natural products.