In Brief: SoftBank, Tiger Global likely to join DPIIT led Startup Advisory Council; BharatPe in talks to raise $100 mn
Japanese conglomerate SoftBank Group, New York-based alternative investments firm Tiger Global Management and South African media and internet conglomerate Naspers, could be part of the National Startup Advisory Council, The Economic Times reported. The council, which comes under the commerce ministry’s Department for Promotion of Industry and Internal Trade (DPIIT), will comprise 44 members, representing entrepreneurs, investors, policymakers, and government officials, the report said.
Earlier this month, the government had planned to set up an advisory board for startups across India.
Read: Commerce minister to chair emerging tech-focused Startup Advisory Council
BharatPe in talks to raise $100 mn from New York-based hedge fund
New York-based hedge fund Coatue Management is in talks with BharatPe, a QR-code based payments app for retailers, to lead a $75-$100 million funding round, The Economic Times reported. The funding is expected to almost double BharatPe’s valuation to $500 million, the report said. Existing investors Ribbit Capital, Insight Partners and Steadview Capital will also participate in the latest round, it added.
Last week, BharatPe had appointed Dhruv Bahl as head of operations.
Appnomic Systems rolls out flagship product Heal
Cupertino headquartered information technology infrastructure management services firm Appnomic Systems has launched its flagship product Heal. It is self-learning software that connects to business systems and identifies and prevents future issues from occurring, in addition to detecting and solving existing problems, the company said in a statement. The product’s AI (artificial intelligence) engine studies business systems to find the root causes of anomalies and takes corrective action autonomously or via AI-augmented human effort before any damage is done.
ShopX inks deal with digital lending platform LoanTap
Retail network company ShopX has joined hands with digital lending company LoanTap to launch credit services for retailers. It will offer loans ranging from Rs 25,000 to Rs 5,00,000, the companies said in a joint statement. The service is currently available to over 100,000 small retailers across 16 cities. With the new facility, retailers will have access to a digital, paper-less model to avail credit as well as one-tap repayment on the amount borrowed, the statement added.
Vogo raises $35 mn from Lightstone Aspada, existing investors
Bengaluru headquartered scooter-sharing startup Vogo Automotive has closed its Series C round of funding, The Entrackr reported. It has raised $35 million in the round led by impact investment fund Lightstone Aspada, the report said. Existing investors participated in the round.