A quick roundup of the developments in the Indian and international digital, tech and business ecosystem. Funding & investments Softbank has invested $350 million in logistics company Delhivery via its Cayman Islands entity SVF Doorbell (Cayman), reports the Economic Times. Delhivery has issued 1.23 million Series F compulsorily convertible cumulative preference shares (CCCPS) each to SoftBank. Gurgaon-based blockchain startup Insino Ventures has raised an undisclosed amount from a group of High Net-worth Individuals, reports the Economic Times. Lending platform for farming Jai Kisan has raised $1.5 million in a seed funding round led by Blume Ventures, reports TechCircle. Other participants were Astarc Ventures, Prophetic Ventures, Better Capital, and individual investors Harshbeena Zaveri and Sanjay Mariwala. Reliance Industries has acquired majority stakes in Grab A Grub Services and C-Square Info Solutions, per stock exchanges filings. Reliance has acquired 83% stake in Grab A Grub services for a cash consideration not exceeding Rs 106 crore, and will further invest Rs 40 crore. The company also acquired 82% of the equity capital of C-Square for a cash consideration of Rs 22.04 crore, and will later invest another Rs 60 crore in the company. Developments in the digital ecosystem The Future Group is looking to offer micro-insurance to customers as part of its “digital commerce” strategy, reports the Economic Times. Micro-insurance is a general or life insurance policy with a sum of Rs 50,000 or lower, as defined by the IRDAI. Zomato has sold its UAE delivery business to Berlin-based Delivery Hero for $172 million, reports…
- “Foreign state actor” may be responsible for the ransomware attack on AIIMS-Delhi: Report December 3, 2022
- Agenda: Reworking The Data Protection Bill, Delhi, 8th Dec #Ad December 3, 2022
- Why has the deadline to comply with UPI market share cap been extended by the NPCI? December 3, 2022
- India’s IT Minister on DPDP Bill: Law should be kept ‘simple’, subordinate rules won’t exceed Act December 3, 2022
- MIB approves ninth self regulatory body, PADMA, under the IT Rules, 2021 December 3, 2022
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