Seven public sector oil companies—Indian Oil Corp Ltd, Bharat Petroleum Corp Ltd, Hindustan Petroleum Corp Ltd, Gail India Ltd, Oil India Ltd, Engineers India Ltd and Oil and Natural Gas Corp Ltd—are coming together to launch a INR 100 crore start-up fund shortly. All the seven companies will be pitching Rs.10-20 crore each to create the fund. The fund will be used to foster, nurture and incubate new ideas related to the oil and gas sector.


Diversified technology company Directi plans to spend $110 million in four newer ventures and is looking to buy a 1 lakh square feet building in central Bengaluru to accommodate its expansion. The company plans to invest $110 million in Flock, Zeta, Radix and Ringo in the current year and the next. In 2015-16, it invested $32 million in Radix, $4 million in Zeta and $7 million in Flock. Zeta will receive an additional $25 million, Flock will get $$23 million, Ringo $44 million and Radix $18 million.



Calcutta Angels Network (CAN) has picked up a 10% stake in a Kolkata-based online study platform Zeroinfy for an undisclosed amount. The funding will be utilized expand team as well as further enhance technology. Part of the money will be used to acquire customer and faculty.