1947 Tech 🇮🇳: 113
Once a week newsletter: Insights on Tech, markets, startups, venture capital, and foreign investments in India
1. Abu Dhabi Investment Authority in talks to invest in Jio platforms
Jio ain’t stopping!
Abu Dhabi Investment Authority has joined active discussions for a minority stake in Jio Platforms as cash-rich sovereign wealth funds from the Gulf proactively seek out deals around the world, people familiar with the matter said.
ADIA follows Mubadala, the sister firm of the UAE’s largest sovereign wealth fund, which has already been in negotiations with Reliance Industries (RIL), the parent of Jio Platforms.
Microsoft wants a piece as well: Link
Google explores Vodafone Idea stake as part of India push: Link
2. Paytm Mall in talks for Grofers stake as SoftBank pushes for consolidation
A lot is happening at PayTm Mall
Online retailer Paytm Mall has held talks with e-grocer Grofers for a potential investment.
Softbank is a common investor in PayTm Mall and Grofers.
Paytm Mall has also held discussions to invest in or acquire milk delivery startup MilkBasket.
I use MilkBasket. It’s pretty good.
Paytm Mall appoints Abhishek Rajan as COO, moves to Bengaluru: Link
3. Urban Ladder co-founder Rajiv Srivatsa named as partner and country head for Antler
What is a pre-incubator?
Antler pays you to join their cohort to start companies. They help you find a right co-founder, figure out a business model, and later connect you with investors and mentors.
Rajiv Srivatsa, the co-founder and former chief technology and product officer at online furniture and home decor retailer Urban Ladder, has been named partner and India head for Singapore-based early-stage venture capital firm Antler.
Worth your attention:
India rejects Walmart-owned Flipkart’s proposed foray into food retail business Link
Govt bans popular file-sharing site WeTransfer in India Link
The Ministry of Information Technology (MeitY) is fast-tracking its ambitious Rs 5,000 ($715M) crore fund-of-funds Link
Munich Re Ventures in talks to lead $60–70M funding in Acko Link
Knowlarity founder launches $50 Mn worth SaaS-focused fund Link