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Internet digest: Jugnoo, ShopClues, Future Group and gazeMetrix


gazeMetrix acquired by Canadian firm Sysomos

gazeMetrix, an image recognition platform, has been acquired by the Canadian firm Sysomos Inc. in a cash and equity deal, reports YourStory. Other than photo monitoring, gazeMetrix helps with digital rights management, letting brands contact users that post photos asking them for permission to republish.

Founded in 2012 by Deobrat Singh, Saurab Paruthi and Debayan Banerjee, gazeMetrix received a grant of $25,000 from Microsoft as the as the regional runner-up of the India Edition of Qualcomm Ventures QPrize competition. Sysomos is a Toronto based social media company that mines and analyses content from social media and find media coverage.


Jugnoo acquires Bistro Offers and Yelo

Hyperlocal marketplace Jugnoo has acquired 2 companies: a restaurant discovery app Bistro Offers and a mobile-only jobs services marketplace Yelo, reports NextBigWhat. Post acquisition, both companies will continue to run as independent platform, with both teams continuing to build their respective products.

In June, Jugnoo raised $5 million from Snow Leopard and Paytm. The platform had previously also raised $1 million from Rajesh Mathur (Junglee Flywheel), Vikas Taneja (Partner and MD BCG Group) and Kirloskar Brothers among others, in a seed round of funding. Jugnoo ties up with rickshaw drivers as logistics partners to offer three different services. The services are Jugnoo Autos on Demand, Jugnoo Meal and Jugnoo Fatafat.


ShopClues now claims to list over 2.5 lakh merchants 

Delhi-based ecommerce portal ShopClues claims to have reached 2.5 lakh merchants on its platform, and to list over 3 crore products which it ships to over 25k cities across the country.

Earlier this month ShopClues launched a new category of laptop called “Unboxed” aimed at providing users laptops from top brands such as Dell, HP, etc. at low prices, a month after it launched a new hyperlocal feature called Neighbourhood Market on its mobile app which allows local merchants to connect with customers. Earlier in January, the company  raised$100 million investment led by Tiger Global with participation from existing investors Helion Venture Partners and Nexus Venture Partners.


Future Group to launch a mobile wallet

Future Group is in the process of launching a mobile wallet, reports Business Standard. However, the company volunteered no further information, leaving the date of release, how it will work etc., to the imagination.

Interestingly, in October last year, Future Group had formed a strategic alliance to sell its products on Amazon’s India marketplace. A month before, the platform tied-up with omni-commerce technology solutions provider hybris software, a SAP company, to converge its digital and physical channels. Following the tie-up, all Future Group brands were expected to be available online. The company said then that it would invest Rs 100 crore over the next 18 months on the omni-commerce platform.

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