Business, News

#Marketwire: Amazon Prime Launched in India; Byju to Raise $50M & More

Operations Inside the Fulfillment Center On Cyber Monday#Marketwire is your quick summary of notable market movements in the technology industry. The organisations covered in this segment include Byju, Amazon and NDMC 

Amazon Launches Amazon Prime In Indian Market

Amazon has launched Amazon Prime membership program in India. With Prime, customers in over 100 cities can avail unlimited free one day and two day delivery on eligible products. Amazon is also offering a 60 day free trial period to customers who sign up early. While non-members will continue to bear the usual delivery charges.

The company is also going to create original video content for the Indian market to tap in to more users. Read More

Byju to Raise $50M for International Expansion

Ed-tech company Think & Learn Pvt Ltd is set to raise $50 million that will be used for inorganic growth through global acquisition and international expansion of its online test preparation platform Byju’s Learning App.

Previously, Byju had raised $75 million in March 2016 from venture capital firm Sequoia and Belgium-based Sofina. Read More

Karnataka Govt to Drive a $333M Fund to Invest in Startups by 2020

Karnataka government will mobilise up to $333 million by 2020 to invest across startups operating in sectors from technology to social impact. Government is trying to encourage the breeding of 20,000 startups by 2020 of which 6,000 will be product-based startups.

State government has committed to invest about $60 million through its ‘Innovate Karnataka,’ initiative. $30 million will come from the Karnataka Fund of Funds, while the rest will come in from the other investment vehicles created by the state government. Read More

NDMC Clears Incubation Centre for Startups

New Delhi Municipal Corporation will be partnering with the Software Technology Parks of India to set up Atal Incubation Centres under the Atal Innovation Mission to help the startups. Twenty new startups will get assistance from the New Delhi Municipal Council.

The incubation center will have 100 plug and play workstations, dedicated meeting rooms, training rooms, libraries, conference rooms, special platform for special events and more.  Read More

Image Source: Time

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