Media and entertainment industry veteran Ronnie Screwvala, who runs online education start-up Upgrad, is planning to set up a INR 100 crore fund which will provide scholarships for professionals seeking to enhance their skills through online courses. Scholarships ranging from 25,000 to Rs2 lakh will be given to working professionals looking to study or take up any course of their choice from any online platform and not restricted to Upgrad.



Cisco Investments, the investment arm of Cisco Systems which specialises in both direct and fund-of-funds investments, and Eight Roads Ventures, the proprietary investment arm of Fidelity International, have announced their investments in SeedPlus, a seed-stage venture fund based in Singapore which was launched by Jungle Ventures in 2015. The fund eyes disruption in startups in areas such as software-as-a-service (SaaS), financial technology, artificial intelligence, cyber security, and other emerging technology areas.


Branded budget hotels marketplace OYO Rooms, which is operated by Oravel Stays Pvt Ltd, is closing a $250-million (INR 1,612 crore) fundraising round led by existing investor SoftBank Group. The recently-launched $100-billion SoftBank Vision Fund is expected to pump in $225 million in OYO, while the rest will come from Lightspeed Venture Partners India pvt Ltd, Sequoia Capital India Advisors Pvt. Ltd and Greenoaks Capital Partners LLC.