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Marketwire – Alibaba to Reportedly Lead $200M Investment in Paytm Marketplace & More

alibaba paytm investmentMarketwire is a quick summary of notable market developments for the Indian technology ecosystem

Alibaba to Reportedly Lead $200M Investment in Paytm Marketplace

Paytm’s eCommerce arm is in process of raising an investment of $200 million at a valuation of $1 billion. The round is being led by its existing investor Alibaba, which will take the combined stake of Alibaba and its subsidy Ant Financial to 50%. Paytm had separated its eCommerce business from wallet and Payments Bank businesses in August 2016. Read More

Myntra Records Sales of Rs 850 Cr in January

Flipkart-owned Myntra and its subsidy Jabong, collectively recorded Rs 850 crore($126 million) in sales in the month of January, bringing the annual revenue run rate of $1.6 billion. The fashion eCommerce firm is on its path to hit its annual revenue target of $2 billion by FY17-18. Myntra aims to add more exclusive brands through the firms its onboarding into its fashion accelerator. Read More

Startup Accelerator NUMA Bengaluru Invites Applications for Third Batch

French accelerator NUMA, is inviting applications for the Third Batch of its Bengaluru arm. The 6-month residential programme offers infrastructure, mentoring and networking, and value added benefits from its corporate partners. NUMA Bengaluru accelerated 18 startups in 2016. Read More

NITI Aayog Grants Rs 10 Cr to IIM B Incubation Hub

IIM Bangalore (IIM-B)’s incubation hub N S Raghavan Centre for Entrepreneurial Learning (NSRCEL) has been selected by NITI Aayog for a Rs 10 crore grant as scale-up support over the next 2 years. The other 5 incubators which will receive the grant include – Tiruchirappalli Regional Engineering College Science and Technology Entrepreneurs Park (TREC STEP), 91Springboard Group in New Delhi, Amrita Technology Business Incubator in Kollam,Centre for Cellular And Molecular Platforms (C-CAMP) and Access Livelihoods Consulting India Ltd in Hyderabad are the other incubators that will receive the funding. Read More

Salesforce Looking to Acquire Indian Startups

Salesforce is looking to acquire startups in Bangalore and Hyderabad, working in the areas of machine learning, big data etc. It is looking to buy out companies using DeepTech technologies to solve problems in the sectors of -areas of healthcare, energy or financial services. The US-based firm had acquired 10 companies in 2016, and had invested in 30 during the same time period. It is now focussing on India for more such opportunities. Read More

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