#Marketwire is your quick summary of notable market movements in the technology industry. The firms covered in this segment include Govin Capital, Twilio, SAP and Coolpad.
Govin Capital to Launch Pune Chapter of its Startup Accelerator India
Singapore headquartered Govin Capital has collaborated with Pune based Seed Infotech to setup the Pune chapter of its Startup Accelerator India. The firm has also announced an investment in two healthcare companies, Palash IVF Solutions and CEII Beans Healthcare.
The company plans to invest between Rs 1 crore to Rs 10 crore for up to 20% stake in early stage startups operating primarily in the biomedical space and digital health field. The company already has a presence in India through the Startup Accelerator Initiative in Vishakhapatnam and the IIT Madras incubation cell and has funded over 10 startups in India so far.
“We would focus on opportunities that are innovative, serve the emerging middle class and have a societal impact”, said Anand Govindaluri, CEO, Govin Capital. Read More
Twilio Goes Public and Almost Doubles its Share Price on Opening Day
Twilio, a cloud based communication tools provider for developers, has priced its IPO at $15, above its $12 to $14 a share range, which pegs the cloud company at market value of $1.2 billion. The company raised $150 million by selling 10 million shares in the tech sector’s biggest initial public offering of 2016.
The San Francisco based company ended its first day of trading at $28.79 with a market capitalization of $2.05 billion. Its share surged by 90% from its initial public offering price of $15 on opening day. Read More
SAP Launches Startup Accelerator Program in Collaboration with IIT Bombay
German software maker SAP launched the ‘Startup Accelerator Program’ in collaboration with the Society for Innovation and Entrepreneurship (SINE), a technology and business incubator, at the IIT-Bombay (IIT-B) campus.
The Startup Accelerator Program is a cohort based, accelerator program that will mentor and accelerate the business growth of ten social enterprises or startups over the next year. The SAP Innovation Centre will host research projects in association with the computer science department of IITB. Read More
Also Read: SAP Labs Launches Incubation Center in Bangalore
Coolpad to Sell VR Headset for Smartphones in India
Chinese smartphone maker Coolpad has launched its first VR headset in India. Dubbed as Coolpad Cool VR 1x, the headset is priced at just Rs 999 and will be exclusively available on Amazon.
Cool VR 1x comes with customizable lenses which enable the users to optimize focal length and object distance. It also offers 95 to 100-degree wide viewing angles, and can also fit smartphones with screen sizes between 4.7-inch to 5.7-inch.
The VR gear is compatible with Coolpad Note 3, Note 3 Lite, Note 3 Plus, Coolpad Max and all other devices equipped with an HD screen and above. For experiencing ‘Cool VR’s’ 360 degree viewing angles one must have gyroscope on their device, the company said in a statement. Read More
Image Source: Forbes