Startup news and updates: daily roundup (Feb 25, 2021)

Blueshift raises $30M in Series C round led by Fort Ross Ventures, Avatar Growth Capital (Funding)

Blueshift, an AI-powered customer data platform (CDP), on Wednesday said it has raised $ 30 million (about Rs 217.4 crore) in funding, led by Fort Ross Ventures, along with Avatar Growth Capital. Existing investors including Softbank Ventures Asia, Storm Ventures, Conductive Ventures and Nexus Venture Partners also participated in the round, a statement said. With the latest series C round of $ 30 million, the total amount raised stands at $ 65 million, it added.

Facebooksays it will pay $1B over 3 years to news industry

Facebook, following in Google's footsteps, says it plans to invest $1 billion to support the news industry over the next three years. The social networking giant, which has been tussling with Australia over a law that would make social platforms pay news organisations, said it has invested $600 million since 2018 in news. Google said in October that it would pay publishers $1 billion over the next three years.

Battery Smart raises seed round led by Orios Venture Partners (Funding)

Delhi-based Battery Smart, which is building a network of EV-battery swapping stations for three-wheeled e-rickshaws, on Thursday announced the closure of its seed round of an undisclosed amount led by Orios Venture Partners, an early-stage venture capital fund. Angel investment platform Faad Network also participated in the funding round.

Haptiklaunches AI-powered voice assistant for ecommerce shopping

Jio Haptik Technologies, a conversational AI company, and a subsidiary of Reliance Jio Platforms, has announced the launch of its new product - Buzzo, an AI-powered voice assistant, to improve the digital shopping experience. According to Haptik, Buzzo brings the simplicity of an in-store assisted experience to apps and websites, navigating through the variety of product choices using a voice-enabled interface.

IIM Ahmedabad incubator CIIE.CO invests in healthtech startup Comofi Medtech (Funding)

Bengaluru-based healthcare robotics startup Comofi Medtech has raised a total of Rs 2.15 crore from IIM Ahmedabad’s incubator CIIE.CO, JITO Angel Network, and KIIT Technology Business Incubator (KIIT-TBI). The startup said the funds will be deployed for team expansion, product compliance, certification, and working capital needs. 

Zomatorevises delivery partner remuneration amid rising fuel prices

Zomato has stated that the rise in fuel prices has had a direct impact on the net earnings of its delivery partners. It added that the recent increase in petrol and diesel prices amounts to an additional monthly spend of Rs 600 to Rs 800. Taking this into consideration, Zomato has introduced a revised pay structure for its delivery partners which will now include an additional component of distance pay.

Ratan Tata gets Lifetime Achievement Award for his philanthropic efforts

Ratan Tata has been conferred the Lifetime Achievement Award by the Wockhardt Foundation at the annual CSR Shining Star Awards in Mumbai on February 24. The annual awards by the Wockhardt Foundation recognise the CSR efforts of companies across categories such as health, education, women’s uplift, skill development and animal welfare.

Infra.Market joins the unicorn club, raises $100 million in a Series C round (Funding)

B2B commerce company Infra.Market has raised $100 million Series C funding led by Tiger Global. Existing investors Nexus Venture Partners, Accel Partners, Sistema Asia Fund, Evolvence India Fund, and Fundamental Capital GmbH participated in this round. The current fundraise takes Infra.Market's valuation to $1 billion.

Nothing appoints former Samsung executive Manu Sharma as VP, GM for India

London-based technology firm Nothing has roped in the former senior executive of Samsung Mobile Manu Sharma to oversee India operations as its vice-president and general manager. Sharma will be driving growth, business development, and operations. He has worked for over two decades with Samsung Mobile and Hewlett-Packard in India.