Online payments and ecommerce marketplace Paytm has acquired Delhi-based Shopsity in a bid to strengthen its offline retail network. Shopsity follows an online-to offline model that offers solutions to small retail stores. Through the acquisition, Paytm is looking to create seller-focused services for its offline merchants. The company is in the process of acquiring merchants to accept payments and plans to go deeper and offer a more engaged platform for interacting with customers.
South African media and internet conglomerate Naspers has established a venture capital arm in India with an aim to explore new growth and investment opportunities in the country. Nasper’s India VC arm will explore investing in technology-focused startups in areas like healthcare, education and logistics, besides consumer internet and online retail plays. The focus is on early to mid-stage transactions ranging from $10 million to $50 million for a minority stake.
Country’s second-largest IT firm Infosys has invested an undisclosed amount in US-based TidalScale. The California-headquartered firm’s solution collates all physical server resources as if it were running on a single large computer to help clients with large computing problems. TidalScale helps companies draw insights from big data faster, more easily and with greater flexibility at improved costs.