How Reliance Jio Platforms became India’s biggest telecom network – TechCrunch

[ad_1] Months after India’s richest man launched his telecom network, his chief rival, Sunil Mittal, was already struggling to contain his frustration in the public. That tycoon Mukesh Ambani would try to win subscribers by offering them voice calls for free wasn’t a surprise for anyone, said Mittal at the World Economic Forum in January…

India’s Reliance Jio Platforms to sell $600 million stake to TPG – TechCrunch

[ad_1] American private equity firm TPG said on Saturday it will invest $600 million in Jio Platforms, joining a roster of high-profile investors including Facebook and Silver Lake that have backed India’s top telecom operator at the height of a global pandemic. TPG said it is acquiring a 0.93% stake in Jio Platforms, giving the…

Walmart’s Flipkart rolls out voice assistant to make shopping easier – TechCrunch

[ad_1] Flipkart is rolling out a voice assistant feature to its platform to make it easier for consumers to shop as the Walmart-owned e-commerce giant looks to expand its reach in the nation. The AI-powered voice assistant currently supports grocery category, called Supermart, but a company spokesperson told that Flipkart will soon be extending it…

Halal fintech startup Wahed closes $25M led by Saudi Aramco’s investment arm – TechCrunch

[ad_1] New York-based fintech startup Wahed (meaning ‘One’ in Arabic) describes itself as a digital Islamic investment platform and as the world’s first ‘halal robo adviser’. It’s now closed a $25 million investment round led by Saudi Aramco Entrepreneurship Ventures (also known as Wa’ed Ventures), a venture capital investment arm of oil giant Saudi Aramco. Existing…

Tibet to become China’s data gateway to South Asia – TechCrunch

[ad_1] A sprawling 645,000-square-meter data facility is going up on the top of the world to power data exchange between China and its neighboring countries in South Asia. The cloud computing and data center, perched on the plateau city Lhasa, the capital of Tibet, and developed by private tech firm Ningsuan Technologies, has entered pilot…

Indian online travel booking firm Yatra terminates merger deal with Ebix – TechCrunch

[ad_1] Indian online travel booking company Yatra has terminated a pending merger agreement with Atlanta-based software firm Ebix and filed a litigation seeking “substantial damages” over alleged breach of deal terms. In July last year, Ebix announced its plan to acquire Yatra, giving the Indian firm an enterprise value of $337.8 million, in a move…

KKR to invest $1.5 billion in India’s Reliance Jio Platforms – TechCrunch

[ad_1] Mukesh Ambani’s Reliance Jio Platforms has agreed to sell 2.32% stake to U.S. equity firm KKR in what is the fifth major investment the top Indian telecom operator has secured in just as many weeks. On Friday, KKR announced it will invest $1.5 billion in the top Indian telecom operator, a subsidiary of India’s…

Amazon launches food delivery service in India – TechCrunch

[ad_1] Amazon is joining India’s online food delivery market just as top local players Swiggy and Zomato reduce their workforces to steer through the coronavirus pandemic. The e-commerce giant, which has invested more than $6.5 billion in India, today launched its food delivery service, called Amazon Food, in select parts of Bangalore. The company had…

Indian ride-hailing firm Ola cuts 1,400 jobs – TechCrunch

[ad_1] Ola said on Wednesday it is cutting 1,400 jobs in India, or 35% of its workforce in the home market, as the ride-hailing firm works to reduce its expense to steer through the coronavirus pandemic that has severely impacted mobility companies in the country. Bhavish Aggarwal, co-founder and chief executive of Ola, shared the…

AngelList India head Utsav Somani launches micro VC fund to back 30 early-stage startups – TechCrunch

[ad_1] As investors get cautious about writing new checks to early stage startups in India amid the coronavirus outbreak, AngelList’s head in India is betting that this is the right time to back young firms. On Wednesday, Utsav Somani announced iSeed, a micro VC fund to back up at least 30 startups over the course…