Walmart makes 2nd acqui-hire in India, Dunzo files provision for Series C funding
All disruptors have one thing in common – they create a lasting impact. In other words, their stories need to be celebrated, and at the YourStory 2018 Disruptors event in Chennai, we did just that. Recognising the work of 15 disruptors of Tamil Nadu in various fields was an experience, and as each of them shared their stories of innovation, vision, foresight and perseverance, we came out invigorated and inspired.
Dunzo to raise Series C
Bengaluru-based hyperlocal concierge app Dunzo could be gearing up for another round of funding. As per Dunzo’s filings with the Registrar of Companies, it has filed provision for a Series C funding, where Blume Ventures and Google India have committed participation. Incidentally, around the same time last year, Dunzo had raised its Series B funding of $12.3 million from Google, making it the search-engine giant’s first investment in an Indian startup.
Walmart Labs’ acqui-hires Int.ai
Founded in 2016, Int.ai is an AI startup and also the latest company to have been acqui-hired by Walmart Labs. As part of the process, the Int.ai team will soon be joining the health and wellness portfolio of Walmart Labs under customer technology. Before this, the retail giant had taken Appsfly into its fold in September as it continues to leverage the premium talent pool in India.
MPOWER Financing raises $110 M
In its largest funding round ever, student loan provider MPOWER Financing has raised $110 million led by Gray Matters Capital and Community Investment Management (CIM). The funds raised will be used to give loans to students enrolling in major US universities and also to support new product growth and technology enhancements.
Bengaluru gets a Global Artificial Intelligence Accelerator
After the US and Sweden, India has got a Global Artificial Intelligence Accelerator (GAIA) centre this year. The facility was set up by global networking and telecom company Ericsson in Bengaluru, and it is expected to generate at least 150 new jobs across disciplines such as data scientists, engineers, machine learning and artificial intelligence architects.
Event management platform Hubilo’s incredible growth story
Founded by Mayank Agarwal and Vaibhav Jain in 2014, cloud-based, end-to-end event management platform Hubilo started off with a pay cheque of Rs 16,000. Now the platform registers Rs 8 crore in turnover. What does it do? It takes the pain out of event management by automating the entire process and by helping businesses create memorable events.
Logistics aggregator Sagisu raises $2.1 million
Intra-city logistics solution provider Sagisu raised $2.1 million in seed funding from prominent investors in the US and India. Funding from this round will be used to build smart hubs, expand Sagisu’s footprint, and scale up technology platform.