A quick roundup of the developments in the Indian and international digital, tech and business ecosystem.
- Zomato expects its subscription service Zomato Gold to bring in $20-25 million in revenue by the end of 2019, per the Economic Times.
- Oyo is in talks to acquire cloud-kitchen FreshMenu for $30-40 million in a primarily stock acquisition, reports the Times of India.
- Oyo has launched in Japan in a joint venture with Yahoo!, per a company statement. Oyo will launch Oyo Life in Japan by March. The company has appointed former Japan head for Handy and Booking.com as CEO of Japan operations.
- Swiggy may acquire UberEATS, as Uber looks to sell off its food delivery business in India ahead of its IPO, reports Times of India. Zomato is also in contention for the deal.
- B2B logistics startup Shadowfax will enter China to facilitate cross-border logistics for e-commerce players in both countries, reports TechCircle.
- Zomato has delisted over 5000 restaurants found to be non-compliant with FSSAI hygiene norms, per a company statement. The number of compliant restaurants on Zomato has now increased by 30,000 in the last 6 months.
- Twitter co-founder Evan Williams will step down from the company’s board of directors by the end of February, reports The Economic Times.
- HyperXchange has begun testing drone deliveries for refurbished electronics in partnership with AeroNext. The tests have begun in Kolkata; drone delivery of mobile phones will be provided in Kolkata, Mumbai, Pune, and Bangalore.
- Human resources development minister Prakash Javadekar launched Operation Digital Board to set up one digital and interactive board per classroom in government and government-aided schools, reports Indian Express.
- Grofers narrowed its losses to Rs 258.3 crore in FY17-18 from Rs 268.3 crore a year ago, reports BloombergQuint. Income was up 57.5% year-on-yaer at Rs 53.4 crore in FY17-18.
Funding and investments
- Advertising company SilverPush has raised $5 million in a Series B round led by Japanese company FreakOut Holdings, per Inc42.
- Spotdraft has raised $1.5 million in a pre-series A round led by Binny Bansal’s 021 Capital with participation from Freshworks co-founder Girish Mathrubootham and Google executive Peeyush Ranjan, among others, reports Economic Times.
- Delhi-based angel investor Dhianu Das has announced his own venture capital fund Alfa Ventures with a corpus of Rs 100 crore, reports Inc42.
- MakeMyTrip CEO Deep Kalra has invested Rs 3 crore (on behalf of Prudent Advisors) in concierge service Dunzo, reports Inc42
- Child rights advocates and consumer groups are urging the US Federal Trades Commission to look at whether Facebook violated federal law by fooling kids into spending money on online games, reports Cnet.