#Marketwire is your quick summary of notable market movements in the technology industry. The firms covered in this segment include Nasscom, IvyCamp, Ola and Google.
Nasscom 10,000 Startups and IvyCamp Collaborate to Boost IoT
Nasscom 10,000 Startups has partnered with IvyCamp, an initiative of IvyCap Ventures to boost Internet of Things (IoT) movement in the Indian startup ecosystem.
The initiative will connect startups, investors, mentors and industry bodies to converge and explore ways of working together, a statement from Nasscom said. It added that, IvyCamp platform will connect the industry participants to entrepreneurs for providing guidance on formulating and driving the IoT business. Read More
Ola signs MoU with Haryana Government to Create Over 10K Entrepreneurs
Taxi aggregator app, Ola has signed a Memorandum of Understanding (MoU) with the Government of Haryana, to create over 10,000 entrepreneurs in the state. In order to skill and train thousands of men and women and help them take their first step towards entrepreneurship the company will invest Rs. 350 crores over the next five years.
The company and state government will work together to introduce innovative and customised mobility solutions like Ola Auto, Ola Bike, Ola Share and Ola Shuttle across the state. Ola will further build for local mobility needs using its technology to serve citizens across Haryana, giving them instant access to reliable and convenient mobility. Read More
Delhi Ahead of Bangalore & Mumbai In Startup Investments
Delhi attracted more venture capital funds than all other Indian cities combined as of June 2016, as per Tracxn’s blog. Total of $917 million was infused into Delhi-NCR startups across 155 deals, which more than 50% of the total venture capital infusion across India, it added.
According to the blog, during the first half of 2016, 453 Indian startups attracted $1.8 billion of venture capital and 50.95% of this overall capital was lapped up by startups based in Delhi alone.
With an average ticket size of $5.8 million investment, Delhi also tops the list of raking in maximum average investments. Ibibo Group based in Gurgaon tops the chart for Delhi-NCR as it received $250 million in Series C funding from Naspers. Read More
Google Launches Android Pay in Asia, Singapore to Get First
After launching in both the United States and the United Kingdom, Android Pay, Google’s contactless smartphone payment solution is finally making landfall in Asia.
In order to avail the service, one needs to install Android Pay and has to link the desired card via an authentication process. Android Pay supports any Visa or MasterCard credit or debit card issued by five major banks namely, DBS, POSB, OCBC, UOB, and Standard Chartered.
According to Mr Pali Bhat, senior director of product management at Google, which created the Android mobile operating system (OS), Singapore was selected as the third market worldwide after the United States (US) and the United Kingdom (UK) to introduce its mobile payments offering because of its ready base of mobile-savvy consumers as well as a mature ecosystem. Read More
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