Weekly Wrap: Roadrunnr And TinyOwl Merges, Reliance Jio Launches Wallet And More..

Here are the major announcements of this week from Digital And Startup India. The week which passed by, was packed with acquisitions, marking down valuations, few major funding deals and many new launches.

Insights

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Startups

Bangalore-based Roadrunnr, a hyper-local logistics player is merging with food tech startup TinyOwl in an all-stock deal. Read More..

Zomato’s valuation has been marked down at $500 million by HSBC Securities and Capital Markets which is about half the valuation. Read More..

MagicX has signed up with Reverie Language Technologies to provide multi-lingual support for transactions in 10 Indian languages on its AI powered bots. Read More..

Quikr has acquired Salosa, an on demand in-home beauty services provider. This strategic acquisition is a part of Quikr’s plan to invest Rs.250 crore in its home services vertical, QuikrServices. Read More..

Venture capital firm IDG has raised about $150 million (Rs 1,000 crore) from investors for its third fund, called IDG Ventures India Fund III. Read More..

Digital India

Reliance Jio has now forayed into the payment space and launched its wallet service JioMoney Wallet. Read More..

Although there has been a decline of 4% YoY and a QoQ decline of 12.8% in handset shipment, India brands have grown by 45%  compared 7% to 4Q’15 and the handsets made out of India contributed 67% to the sales, reveals CyberMedia research firm. Read More..

#SadReality : Nasscom Supported Facebook’s FreeBasics In Exchange Of Power. Read more..

Through Whatsapp, Bangaloreans  can now connect with the city police for any query or complaints.The numbers went live on Tuesday and is operational. Read More..

The Cabinet has approved the new National Intellectual Property Rights (IPR) Policy. Read More..

Major Funding Deals