Noida-based Pocketin, a real-time restaurant deal startup, has been acqui-hired by online restaurant reservation portal, OneLoyalCard. Pocketin’s entire team along with its co-founders will join OneLoyalCard. The move is aimed at strengthening latter’s technology and expansion plans across India. OneLoyalCard plans to expand in six cities by the end of this year.
IDG Ventures India, which counts Ratan Tata and Infosys cofounder Kris Gopalakrishnan as its advisors, is about to close its third country-focused fund of $200 million (INR 1,360 crore) in a fund-raising that may attract World Bank arm International Finance Corp (IFC).IFC is looking to invest about $20 million in IDG Ventures India III, which reached a first close of $120 million in February 2016.
On-demand cleaning services provider MyDidi has acquired peer TimeMyTask in an all-stock deal. The Mumbai-based company will absorb all the employees and the technology stack of TimeMyTask through this deal, which values the merged entity at $10-15 million.
Chandigarh Angels Network has invested $235,000 in Mumbai-based healthcare startup Yolo Health. Yolo Health, run by Health ATM India Pvt Ltd, provides a walk-in kiosk with medical devices and staffed by a medical attendant. The focus will to to strength the existing product and technology capabilities to deliver better virtual care experience while expanding and scaling existing virtual care touch points by closely collaborating with hospitals, state governments and CSR foundations.
Having identified fintech as a promising space to generate jobs, Andhra Pradesh announced a INR 100 crore fund of funds to invest in startups in this area. INR 100 crore will be put in initially for a fund of funds which will be managed professionally by a venture capital firm to help hone fintech startups.