SoS Digest/ 10-12-16 to 18-12-16

Startup news
  1. When Deep Kalra spilled the beans on the MakeMyTrip-Ibibo merger

The online travel industry in India can be divided into two eras‑the one before October 18, 2016, and the one after the MakeMyTrip-Ibibo group merger on October 18. The industry will never be the same again after one of the biggest mergers in recent times. Deep Kalra, Founder and CEO of  MakeMyTrip(MMT), may be the man of few words, but he is never short of stories to share. At MobileSparks 2016, through his stories, he spilled the beans about the deal and the making of one of India’s largest OTAs merger.


  1. KKR-backed Emerald Media leads $35M round in media tech venture Amagi

Private equity major KKR-backed investment platform Emerald Media, said it is leading a $35 million financing round in Amagi Media Labs, a targeted TV advertising and cloud-based broadcast venture. Premji Invest, the investment arm of Wipro founder Azim Premji, is also participating in this latest fund-raise which is a mix of primary and secondary transaction. Early backers Mayfield India and Nadathur Holdings will remain invested in the Bengaluru- headquartered media technology startup. The eight-year-old company has in all raised $60 million in funds.


  1. 1mg makes its second acquisition of the year by acquiring MediAngels

Online pharmacy and digital healthcare venture 1mg today acquired MediAngels, the platform for super-speciality consultations and corporate healthcare. The terms of the deal were undisclosed. The entire team of 12 at MediAngels is now part of 1mg. This is the second acquisition for 1mg this year; in July, the Sequoia-backed company acquired Medd, a diagnostics and imaging tests marketplace. Earlier this year, 1mg had raised its Series B funding of Rs 100 crore in a round led by Maverick Capital Ventures and additional funding from HBM Healthcare Investments.


  1. Infosys invests in drone startup ideaForge

Infosys has invested in Mumbai-based drone startup ideaForge marking its fourth investment in less than two months. Ideaforge has built UAVs for intelligence, surveillance and reconnaissance (ISR). Founded by IIT Bombay alumni in 2007, it was earlier incubated at SINE IIT Bombay and CIIE in Ahmedabad. ideaForge’s UAV solution features fully-autonomous operation, image intelligence with live feed, and support for complex payloads such as thermal and high-resolution imagery.


  1. BigProfit, A Fintech Startup Is Disrupting Stock Advisory Industry In India

With a market capitalization of $1.7 trillion and a trade speed of 6 microseconds, Indian Stock Exchanges are one of the largest and fastest in the world. However, when it comes to investment, only a few among 31 million-strong active stock market community are aware of the right stocks and securities to trade. BigProfit plans to change it. As India’s first and only Mobile Application which connects investors with the diverse list of SEBI registered Analysts & Advisors. It’s a Marketplace of SEBI Registered Research Analysts & Investment Advisors who list and sell their subscriptions service of stock market research online through our mobile application.


  1. Indore-Based Broking Startup TradingBells Raises Rs. 2 Crores Seed Round From Leading Stock Broker Swastika Investmart Ltd

Indore based discount broking start up TradingBells, today announced that it has raised Rs 2 crores as seed funding from leading Mumbai based stock broker Swastika Investmart Ltd. The startup plans to utilize the funds in hiring talent, expanding office infrastructure, technology upgradation and customer acquisition.


  1. Digital Entertainment Startup Pocket Aces Raises $3M Led by Sequoia Capital India

Pocket Aces, one of the biggest original digital content creators in India, has raised $3 million from a group of global investors led by Sequoia Capital India, including North Base Media, T.V. Mohandas Pai led Aarin Capital, 3one4 Capital, Axilor Ventures, and FreeCharge founders, Kunal Shah and Sandeep Tandon, among others. Pocket Aces was founded in 2014 by Ashwin Suresh and Anirudh Pandita, both engineers, former investment bankers and private equity professionals, who moved to India with a mission to create high quality local content for millennials.


  1. Delhi-based FITPASS raises $1M in seed funding

FITPASS, which calls itself a one-stop solution for fitness and wellness, has raised $1 million in seed funding from Mumbai Angels and a group of Delhi and Bengaluru-based angel investors. The platform offers all access passes to gyms and fitness studios, and also provides various product categories through its app.


Team SoS

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