India Dealbook: Reliance to invest $25m in Israeli incubator; emids buys Encore; Freshworks acquires chatbot startup

Reliance Industries Ltd (RIL) will invest $25 million in an Israel-based technology incubator, emids Technologies has acquired Encore Health Resources and Freshworks has bought chatbot startup Joe Hukum.

RIL to invest $25m in Jerusalem Innovation Incubator

Reliance Industries Ltd (RIL) will invest $25 million in Israel-based Jerusalem Innovation Incubator (JII), according to a stock market disclosure.

RIL will invest along with Israeli equity crowdfunding platform OurCrowd and Motorola Solutions. The three parties will hold 20 per cent, 60 per cent and 20 per cent stakes respectively. Yissum, a non-investing partner, will provide research and development and other support.

“The proposed investment in JII would help pool significant amount of capital which is essential to fund the cutting-edge innovation required by early-stage startups in partnership with Israel Innovation Authority (IIA). This will also give [startups] early access to innovation, technologies and products from one of the world’s largest startup and technology innovation ecosystems,” said RIL.

JII will back early-stage startups in the areas of big data, analytics, artificial intelligence, fintech, storage, Internet of Things, and computer vision over a licensed period of eight years.

emids acquires healthcare IT consulting firm Encore

Bangalore-based emids Technologies, the global provider of IT services and solutions for the healthcare and life sciences industries, has acquired healthcare IT consulting firm Encore Health Resources.

Post deal, Houston-based Encore will operate as a business unit of emids. The latter will use Encore’s existing infrastructure to generate accurate clinical and financial data for healthcare organisations.

Encore assists providers in planning, implementing, managing, and optimising clinical as well as business-oriented systems. It was started by Dana Sellers and Ivo Nelson.

“We have a similar culture that focuses on helping customers succeed and prioritising the professional development of people in our organization,” said Tom Niehaus, CEO of Encore.

Freshworks acquires Joe Hukum

Cloud-based business software firm Freshworks has acquired Joe Hukum, a platform that enables businesses to build their own chat bots based on logical workflows for an undisclosed amount.

The Joe Hukum team will now be responsible for building bots on top of existing Freshworks products, enabling workflow automation for demand generation, knowledge management, and dynamic in-app self-service.

Joe Hukum was founded in July 2015 by Arihant Jain, Ajeet Kushwaha, and Rahul Agarwal. As part of the deal, the three executives will be joining Freshworks, the company said on Thursday.

Also Read:

India Dealbook: Balaji Telefilms’ arm mulls stake sale, Ascendas’ land deal, Ward Ferry eyes Treebo

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.