The Tech Bulletin

Wishing prosperity and joy on the auspicious day of Diwali. Enjoy and be safe. :)

Unacademy, the online platform for free education has just closed a new funding round worth $1 Million. The announcement comes around 5 months after the startup raised its angel round. The latest funding round was led by Blume Ventures, just like the last round. Other participants in the latest round are WaterBridge Ventures, Stanford Angels India, Traxcn Labs and a bunch of Angel investors including Sachin Bansal (Flipkart), Vijay Shekhar Sharma (Paytm), Kunal Shah (Freecharge), Ashish Tulsian (Posist), Sandeep Tandon, Aprameya Radhakrishnan (Taxi4Sure), Phanindra Sama (Redbus), Sumit Jain & Vikas Malpani (Commonfloor). [ 217 more words ]

http://ttb.im/2bf64P4

Unacademy raises $1 Million from Blume Ventures and others Unacademy, Online platform for free education, has raised $1 Million led by Blume Ventures with participation from Sachin Bansal, Vijay Shekhar Sharma, Kunal Shah and Ashish Tulsian.

AskMe, India based online commerce platform has officially shut its operations and all the employees have been laid off. There is no official announcement yet, however, close sources to the development and employees of the company have confirmed that the employees have been asked not to come to the office anymore. The whole buzz around AskMe has been making rounds on the media since a bit of time, specially, when the reports came out stating dues worth $15 million in terms of vendor payments and employees salaries pending since the start of this year. [ 142 more words ]

http://ttb.im/2b2iijL

Askme lays off all employees, shuts operations AskMe, India based online commerce company has laid off all employees and shut down operations effective immediately.

Venture Catalysts, Mumbai based seed investment platform has raised $500k from Zaffiro Ventures at a post money valuation of $6 million. Speaking on the development, Apoorv Ranjan Sharma, Co-Founder Venture Catalysts, stated that the raised funding will help the firm to expand its presence beyond the Metropolitan and tier 1 cities across the country as well as to promote entrepreneurship. He further added that the firm will now work with other companies to gather insights about startups seeking seed investment. [ 199 more words ]

http://ttb.im/2bmlD9V

Venture Catalysts raises $500k from Zaffiro Ventures Venture Catalysts, Mumbai based seed investment platform has raised $500k from Zaffiro Ventures.

Innovaccer Inc, data analytics startup based out of Silicon Valley has raised $15.6 Million in Series A round. The investment round was led by WestBridge capital partners and it also saw participation from some of the prominent angel investors from the valley. Some of the notable names who participated in the round include former CTO of Yahoo, Raymie Stata, RouteScience Technologies Founder Herb Madan, Former SAIF partners principals Rohit Jain and Mukul Singhal. [ 253 more words ]

http://ttb.im/2bm4soW

Innovaccer raises $15 Million from WestBridge and others Innovaccer, Silicon Valley based Data Analytics startup has raised $15.6 Million in Series A round led by WestBridge Capital Partners.

Myntra, Indian eCommerce platform has acquired HRX, the fitness and sportswear brand co-owned by Bollywood superstar Hrithik Roshan and Exceed Entertainment. The deal was disclosed by a statement issued by Myntra. The financial details of the deal were not yet disclosed, however, a few sources close to the deal have quoted through economic times that Myntra has acquired around 51% stake in the brand and the deal will help the eCommerce company strengthen its private label business. [ 201 more words ]

http://ttb.im/2blYioI

Myntra acquires stake in HRX by Hrithik Roshan Myntra, Indian fashion eCommerce company has acquired a majority stake in HRX, a casual apparel and lifestyle brand co-owned by Hrithik Roshan.

Delhi Mandi, the online portal which serves as an online retailer for fruits and vegetables, has been acquired for an undisclosed amount by Daily Delite, the company which runs a number of supermarkets in Delhi NCR area. This is the second acquisition by Delhi Delite. Speaking on the development, Tushar Gupta, Co-Founder Delhi Mandi stated that the acquisition will help the parent company is acquiring more customers in B2C domain. [ 170 more words ]

http://ttb.im/2blFw0W

Daily Delite acquires Delhi Mandi Daily Delite has acquired the hyperlocal fruit and vegetable delivery startup, Delhi Mandi for an undisclosed amount to strengthen B2C consumer base.

Moving on from the much hyped acquisition last week, Verizon has announced yet another billion dollar acquisition. In the latest announcement, the telecom giant announced that it is acquiring Fleetmatics for $2.4 Billion in cash. Fleetmatics is a Dublin (Ireland) based startup working in the field of telematics. The acquisition comes as a strategic move from Verizon which is trying to strengthen its portfolio. [ 218 more words. ]

http://ttb.im/2aJGIOt

Verizon acquires Fleetmatics for $2.4 Billion in cash Fleetmatics, a telematics company based out of Dublin has been acquired by Verizon fr $2.4 Billion in cash.

Technology Crossover Ventures, the VC firm which has backed the likes of LinkedIn, Spotify, facebook, WorldRemit and Zillow has reportedly closed its latest fund, named as TCV IX. The latest fund is worth $2.5 Billion and the VC firm is looking to invest more in the growth-stage startups. The latest fund comes in accordance with the kind of trend we have been seeing in the market lately. [ 106 more words. ]

http://ttb.im/2aJC3vS

TCV closes $2.5 Billion fund for growth-stage investments TCV (Technology Crossover Ventures) has closed its latest fund worth $2.5 Billion to invest in the growth-stage startups.

Making its presence felt in the automotive industry, Samsung has invested $450 Million in China based BYD Company Ltd. BYD deals in electric cars and rechargeable batteries for smart automobiles. This investment by Samsung puts it in the league of giants like Google, Apple and Tesla who have already put in a lot of money in the automobile sector to make their brand count. [ 145 more words. ]

http://ttb.im/2afn7Fr

BYD raises $450 Million from Samsung BYD Company Ltd, China based car manufacturer has raised $450 million from Samsung to grow the battery production business.

For over a decade, Facebook has been continuously launching new features to provide an improved and innovative experience to the users. Continuing the same, the social networking giant today announced the launch of its latest feature named as Quick Updates. Quick Updates is a 24 hour stories-styled feature which lets users upload their moments on their profile, however, the quick updates won't be visible on the news feed as well as the user profile, though, it can be accessed at a specific location in the Facebook app for iOS and Android. [ 310 more words. ]

http://ttb.im/2acAUKm

Facebook launches Quick Updates, 24 hour stories-styled feature Quick Updates by Facebook is a 24 hour story-styled feature which lets the users share their moments with their friends and followers.

Monotype, a technology company providing technology and font designing services, has announced to acquire Olapic for $130 Million and additional $19 million worth of stocks. Monotype is a publicly traded company and at the same time, Olapic is an online portal which helps brands in promotion with the pictures generated by the users. According to the sources close to the development, the deal is expected to close by the end of third quarter of 2016, however, the stocks will be distributed over the course of a period of time. [ 69 more words. ]

http://ttb.im/2acyDyP

Monotype to acquire Olapic for $130 Million Monotype, US based publically traded company working on font designs and tech has acquired Olapic for $130 Million in cash and additional $19 million in stocks.