Apple Inc is planning to invest $1 billion in SoftBank Group Corp’s giant new technology fund, adding its name to a growing list of interested parties and giving the iPhone maker a new avenue to tap up-and-coming technologies. Qualcomm Inc also said it will participate in the fund, but the terms and the amount of its investment are still under discussion. Foxconn Technology Co Ltd and Oracle Corp Chairman Larry Ellison also intend to contribute.
Chinese venture capital firm Shunwei Capital is set to make its debut investment in India by putting in $2 million in gaming startup Mech Mocha. Bengaluru-based Mech Mocha focuses on creating games with an Indian cultural context and is targeting segments ranging from children to housewives.
SoftBank Vision Fund, the largest pool of private capital ever assembled, will now be the primary investment vehicle for the deal-hungry Japanese investor in India. All new SoftBank investments will be made from the new $100-billion technology-focused fund, which has received capital commitments from some of the world’s biggest companies, family offices and sovereign funds, said people briefed on the matter. Delhi will be one of the fund’s global hubs.
Software products firm Zoho has invested nearly $10 million in five startups, including machine-vision company Zentron Labs and medical devices maker vTitan, to help the founders during the research and development phase. Zoho, which builds products for enterprise data management and integration, will find complementing value in these investments.
Bangalore-based dental care startup MobiDent has raised an undisclosed amount in pre-Series A funding from New York-based DanGold Investment Corp. The funding will be utilized to introduce its home dental services in 12 new markets, including metros and mini metros. In addition, it will significantly invest in expanding its team, strengthening digital technology and marketing.