Indian mobile handset brand, Micromax will reportedly set up an independent fund to invest in consumer internet companies worldwide. The fund is expected to raise up to $100 Mn (INR 680 Cr). Micromax will be the lead investor in the fund. The fund will invest in 10-12 startups with a $3 Mn-$5 Mn ticket-size. The new fund, Orbis Capital, is likely to raise money from private equity firms and pension funds, etc.
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Gurgaon-based edtech startup Edurev has received $40,000 from Facebook‘s FbStart programme. As part of the funding, the company will also get free tools and services from Facebook and its more than 30 partners including Amazon, UserTesting, Dropbox, and MailChimp. Facebook will also give free access to more than 25 services including open source tools like React Native, FB Login and Account Kit and App Analytics.
Cofounder and CEO of Blippar, Ambarish Mitra is leading a consortium that is investing in Global Gene Corp. Global Gene Corp is a genomics platform committed to decoding DNA of every ethnic group to help deliver ‘precision medicine’ for all.
Zenatix Solutions has raised INR 8 crore from investors led by pi Ventures in a pre-series A round which also saw participation from existing investor Blume Ventures. Aiming to address the energy efficiency problem faced by a range of customers, the company uses advanced machine learning-based models and delivers 10-30% energy efficiency to large commercial consumers of electricity.
Kolkata-headquartered iManageMyHotel Technologies Pvt Ltd, which provides cloud-based property management solutions for mid-sized hotels, has raised an undisclosed amount from Jaarvis Accelerator. The funding will be utilized to expand presence in more cities, including Delhi-NCR, Bangalore, and Mumbai.