By Manesha Pereira
State-backed Russian government fund and various mobile operators have created an Internet-of-Things (IoT) consortium in Russia while artificial intelligence startup Findo has secured funding of $4 million.
In March 2015, Beequick secured a $20 million series B round led by Hillhouse Capital, followed by a $70 million series C round in September from Tiantu Capital, Hillhouse Capital, and Sequoia Capital.
Venture capital (VC) investment in India plummeted 58 per cent in the June quarter over the previous three-month period, according to a report by KPMG and CB Insights, mirroring increasing investor caution towards funding start-ups. VC investments in India have been on a decline since October-December.
Australian real estate trading platform Revalu8 has closed seed funding worth A$1.5 million from private investors
Accumulating for the first half of 2016, total funding and number of deals reached $14.6 billion and 732 respectively, which are less than half of 2015 figures, signaling that the upward spiral over the past years might not be maintained.
Most Internet companies in India are yet to show profits, which rules out a public markets listing as an exit route for investors
Years of red-hot economic growth and the emergence of a private entrepreneurial class created some of the biggest names in technology, from Didi Chuxing to the company behind DJI drones. But startups hoping to follow in their footsteps are hurting as the economy sputters
At a time when investors are taking a cautious stance while making larger investments, fintech has emerged as an attractive bet.
Although the number of deals continued to decrease over the period, reaching 1,886 – the lowest level since Q2-2013, mega rounds worth over $1 billion in “decacorns” like Uber, Snapchat and Didi Chuxing helped buoy investment, the report said.
Also participating in the round were Australian firm Blue Sky and Swiss-based services provider DKSH, which had invested in aCommerce previously.