The full extent of Reliance’s e-commerce ambitions is slowly becoming apparent. Reliance has gone ahead and acquired Netmeds for Rs. 620 crore in cash. The investment gives Reliance a 60% holding in the equity share capital of Netmeds’ parent company Vitalic Health, and 100% direct equity ownership of its three subsidiaries. Reliance also has the option to buy to the remaining portion of the company over the next four years. “This investment is aligned with our commitment…

India’s premier sports tournament now has an Indian startup as a sponsor. Fantasy sports company Dream 11 has bagged the title sponsorship of IPL 2020. The company signed a Rs. 222 crore deal with the BCCI for the rights. Dream 11 will hold the rights only for the duration of this year’s IPL for a period of 4 months and 13 days.  The IPL had invited bids for fresh sponsors after there had been outrage…

Even as speculation swirls about TikTok’s fate in India, competitors have begun arming their war chests in a bid to take its place. Two apps that are gunning for the void that was created after TikTok was banned in India have raised significant funds this week. Mitron, which had been gaining traction even before TikTok had been banned, has raised $5 million (Rs. 37.5) in a round led by Nexus Venture Partners. 3one4 Capital, Arun Tadanki’s…

The coronavirus lockdown has taken away many of the perks of working in offices — there are no no free coffees, no cakes for birthday parties, and no opportunities to bond with colleagues — but Indian companies are trying to make up in other ways. Several Indian companies and startups are offering allowances and perks to make it easier for their employees to be able to work from home. Employees who’re working from home are…

Even as e-commerce sales sputter back to normal after the coronavirus lockdown, companies are entering ever-newer categories. Amazon has launched Amazon Pharmacy, its online medicine delivery service. Amazon Pharmacy will allow customers to order prescription medicines, over-the-counter drugs, ayurvedic medication, as well as basic medical devices. The service is currently live in Bangalore. “As a part of our commitment to fulfill the needs of customers, we are launching Amazon Pharmacy in Bangalore, allowing customers to…

Even as people are trying to battle the coronavirus on earth, some Indian startups are making their marks in the skies. Aerospace startup Skyroot Aerospace has become the first Indian private company to successfully test fire an upper-stage rocket engine. The successful test demonstrated the capability of the startup to build a homegrown rocket engine. Skyroot’s engine, named Raman, is 3-D printed, and has fewer moving parts and weighs less than half of conventional rocket engines…

India’s social media upstarts are filling their war-chests to try to fill in the void created by the ban of TikTok. Homegrown TikTok competitor Chingari has raised a seed round of $1.3 million, weeks after TikTok was banned by the Indian government. Investors including AngelList, LogX Ventures, iSeed, Village Global participated in the round. Chingari says it will use the  funds for hiring, accelerating product development, and ramp up its platform and improve consumer engagement. Chingari has…

From itself being a fledgling startup 13 years ago, to helping out new startups now, Flipkart seems to have come a full circle. Flipkart has announced the launch of “Flipkart Leap,” its first startup accelerator program. The 16-week program will allow startups to win an equity-free grant of $25,000, and receive mentoring from Flipkart’s executives. Flipkart Leap has identified five themes to shortlist relevant high-potential startups, including Design & Make for India, Innovation in Digital Commerce,…

Indian startups might be mired in crores of losses, but they’re still experimenting with some controversial HR ideas. Zomato has introduced the concept of “period leaves” for women. Women employees at Zomato will now get 10 extra days off a year. “Ladies, How many times have you had to send a message to your team saying “unwell today – taking the day off” and having to answer concerned questions about your health with a feeble…