Business, News

#Marketwire – GoJavas Looks for Buyers; Ola Wants to Acquire Bike Taxi Startups & More

Gojavas#Marketwire is your dose of notable developments in the technology ecosystem. This segment features updates from GoJavas, Pigeon Express, Ola, Zeta, Qatar Investment Authority, CoWrks, Indian Angel Network, DST, IIT Bombay, Intel and Jugnoo

GoJavas in Talks with Pigeon Express for its Acquisition

Logistics firm GoJavas which had suspended its operations last week, is now in advance discussions with courier service provider Pigeon Express for an acquisition. Besides Pigeon, the company has also reportedly held discussions with its biggest stakeholder Snapdeal, and other logistics firms for an acquisition.

Additionally, as per an ET report, Snapdeal is not ready to sell its 42% stake in the company even while its promoters are looking for potential buyers. Read More

Ola Looking to Acquire Bike Taxi Startups

Cab aggregator Ola is looking to acquire bike taxi service providers in multiple cities in the country. The company which already runs the service in Haryana, wants to take over existing businesses instead of building its own operations in the segment. It had held talks with Noida-based NOW and Bengaluru-headquartered Rapido—among others. Read More

Analytics Firm Zeta Plans to Spend $10-50M to Acquire Indian Startups

Blackstone backed US-based analytics firm Zeta is planning to spend $10-50 million to make a strategic acquisition in India. The firm which has already hired 500 people in the country, wants a player which can help it establish a strong foothold in the region. It has held discussions with a few companies, and is seeking a firm that has a strong salesforce and software infrastructure. Read More

Qatar Investment Authority to Back Upcoming Co-Working Space CoWrks

Middle East sovereign wealth manager Qatar Investment Authority is planning to invest an undisclosed amount in Bangalore-based RMZ Corp. Founded by Sidharth Menda, the company is launching a co-working space called CoWrks. It plans to manage 2 million square feet of shared office spaces across 6 cities in India within a year, and further make an international foray in Asian cities like Singapore, Manila etc. Read More

IAN to Raise Rs150 Cr for Early Stage Startup Fund

Indian Angel Network is raising Rs. 150 crore to co-invest with its member angels. The investment is likely to be raised from within its network itself, which consists of over 300 HNIs and angel investors.

The organisation which was found in 2006 has registered a fund with the Securities and Exchange Board of India (Sebi). Read More

DST Launches Rs 100 Cr Programme for Startups

The Department of Science and Technology (DST) has launched a Rs 100 crore programme called National Initiative for Developing and Harnessing Innovations (NIDHI) to support startups. NIDHI will help startups with investment and incubation support. DST plans to set up 10 ‘Prayas’ centres within the incubators supported by it. Read More

IIT Bombay, DST & Intel Partner Up to Launch Hardware Startup Incubator ‘Plugin’

Technology firm Intel has tied up with IIT Bombay and DST to together launch a hardware startup incubator in Bengaluru called ‘Plugin’. The partnership has been drawn for a period of 3 years and the three entities will jointly invest Rs 4 crore initially. Eligible startups will get an investment of Rs 30 lakh and will undergo a year long programme. Read More

Jugnoo Forays into Food Delivery

In an attempt to increase use cases for its on demand grocery delivery service Fatafat, Jugnoo has now launched lunch delivery. The company will launch snacks and dinner delivery in the coming week. The service has been launched in Chandigarh, Panchkula and Mohal, with Jaipur, Indore and Delhi NCR in the pipeline. Read More

Image Credit: Neelkanta Rao LinkedIn

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