11 Jul 2019

Startup NEWS, July 11, 2019

1. Tiger Global fuels India’s startup boom with deal-making spree

  • SoftBank Group Corp. and its Vision Fund, for instance, have invested in Delhivery, and in Ola, converting both into unicorns.
  • The #rising interest in #India occurs as investment in China’s recently booming #startup sector faces a steep drop-off. It’s a radical progression from just a few years ago when global investors worried about the prospects for #India.

source: ET

2. Samsung VC arm invests $8.5 million in four Indian startups

  • The four #startups are system apps company OSLabs (Indus OS), speech #technology #startup Gnani.ai, IoT solutions provider Silvan Innovation Labs and an early stage computer vision startup the name of which has not been disclosed.
  • #Samsung Venture Investment Corporation (SVIC), the venture capital arm of #Samsung, on Wednesday announced its maiden investments in #India, totaling $8.5 million (nearly Rs 60 crore) across four #Indian #startups.

source: ET

3. Zomato acquires food donation startup Feeding India

  • “In December of 2018, Feeding #India distributed 78,300 monthly meals to the underprivileged. That figure has now skyrocketed to over 1.1 million meals a month,” Goyal said.
  • Food delivery platform Zomato has acquired Feeding #India, a not-for-profit organisation with an aim to serve at least 100 million underprivileged people every month.

source: ET

4. Indian startups urge govt to solve key issues like tax refunds, esops & more

  • The industry’s demands also look at more long-term interventions to boost #e-commerce exports and promote the entry of more high-quality #talent into #startups.
  • #Indian #startups have urged the #government to intervene for solving issues ranging from faster tax refunds to altered rules around employee stock options.

source: ET

5. Finance ministry may look into taxation of employee stock ownership plans

  • #India will review the taxation of employee stock ownership plans (Esops) to address issues that curb their effectiveness as a compensation tool, said a senior finance ministry official. This review will not be confined to #startups, he added.
  • FinMin plans to review the entire framework to make the compensation tool attractive for employees.

source: ET

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