How a Rs 33 crore investment led to a Rs 300 crore exit; India’s #MeToo unfolds (yourstory.com)

  • Gurugram-headquartered HR tech startup Mettl, co-founded by Ketan Kapoor and Tonmoy Shingal in 2010, gets acquired by Mercer, a global consulting leader and a subsidiary of Marsh & McLennan Companies, Inc.
  • One of the first successful SaaS acquisitions of India, it closed at 7x of what the startup had raised in equity funding over the years.
  • Siddhartha Gupta (Chief Revenue Officer), Guneet S Sahai (CTO), Tonmoy Shingal (Co-founder and COO) and Ketan Kapoor (Co-founder and CEO)India’s own #MeToo movement is now gathering momentum since it broke on social media last week, calling out names from the media, film, and entertainment industries.

In a bid to take on competition, co-working startup Innov8 raises $4M in a Pre-Series A funding (yourstory.com)

  • Speaking to YourStory, a company said that they will be using the latest round of funding for opening up more centres and doubling up its seat and customer count to 8,000 and 7300 customers respectively, in next the six months.
  • According to Founder and CEO, Dr Ritesh Malik this will mean opening three co-working spaces in Delhi, Mumbai and Bangalore, with some of them as big as 1 lakh square feet in size.
  • The startup has added close to seven centres over the last financial year alone and has boarded more than 190 companies as members till now, which includes large corporates such as RBL, and emerging enterprises such as Swiggy, and Vice Media.
  • At present, Innov8 competes with co-working players like WeWork, Regus, coworks, Awfis, among others.
  • Innov8 is backed by high profile angel investors including Paytm founder Vijay Shekhar Sharma, Google India head Rajan Anandan, Anand Chandrasekaran -global director of platform and product partnerships for Facebook, and Girish Mathrubootham, Chief Executive of Freshworks, among others.

‘Sophia’ set to steal many a heart! (www.thehindu.com)

  • Sophia, the first social humanoid robot, will arrive in the city fully packed in a suitcase from Singapore to speak on the future of fintech on October 23.
  • Immediately on arrival on October 22, various devices of the robot, including Artificial Intelligence (AI) and embedded systems, will be assembled.
  • The next day, Sophia will speak briefly, and later take part in an interactive programme with financial experts, regulators, investors and IT professionals.
  • SingEx, Singapore, a venue management and consulting company, is coordinating the arrangements.

Crypto Regulation Digest: Deloitte report, Google ads will be allowed simultaneously with launch… (medium.com)

  • US SEC Sets November 5 Deadline for Reviewing Nine Bitcoin ETF Applications : The U.S.
  • Securities and Exchange Commission ( SEC ) has outlined a time frame for reviewing proposed rule changes related to a series of applications to list and trade various Bitcoin ( BTC ) exchange-traded funds ( ETFs ).
  • US House Passes Bill for Task Force to Combat Crypto Use by Terrorists : The U.S.
  • House of Representatives passed a bill on September 26 that would establish a crypto task force to combat terrorist use of cryptocurrencies, public records indicate.
  • SEC, CFTC Charge Bitcoin Futures Firm 1Broker With Securities Law Violations : The U.S.
  • EU Markets Regulator Examines ICOs to Determine Regulations : The European Securities and Markets Authority (ESMA) has announced it is examining Initial Coin Offerings (ICOs) to determine how they should be regulated, Reuters reported Oct.

Investors should get into the business of deep science startups – Siddharth Pai (yourstory.com)

  • Deep science startups are an intersection between exact and life science, and have now started to get genuine support from investment companies for the large impact of their innovation.
  • For years now, the Indian startup ecosystem has been injected by billions of dollars but only a trickle reaches the deep science segment.
  • At TechSparks 2018, Siddharth Pai, Founder and Managing Partner of Siana Capital Management, a Bengaluru-based fund house that focuses on this segment, highlighted the importance of investing in deep science startups.
  • The fund looks at startups at the intersection of exact science and life science.

Target’s newest incubator is looking for ‘save the world’ kind of stuff (techcrunch.com)

  • The company today operates its Target + Techstars program, the beauty-focused Target Takeoff, and the India-based Target Accelerator Program.
  • Now it’s adding a fourth business accelerator to the mix with the launch of Target Incubator.
  • The retailer says it will select eight businesses for the program, with up to two members per business directly participating in the new incubator.
  • While there, they’ll receive mentorship from Target leaders and other businesses; participate in workshops, learning sessions and team-building events; be able to access subject matter experts across industries; and participate in other founder growth and development opportunities, Target says.

When startups flourish, India prospers: Facebook India Startup Day 2018 (yourstory.com)

  • At the end of the cohort, the startups get go-to-market support and graduates become part of the global alumni network where they can exchange ideas with each other.2) Code for the Next BillionIn partnership with NASSCOM, Facebook supports startups who are building technology for those who need it the most.
  • Ten startups solving a wide variety of social problems are chosen to attend workshops, product bootcamps, design thinking and fundraising sessions, investor meets, and finally get go-to-market support.3) SheLeadsTechThere is an immense imbalance in the startup ecosystem, with only nine per cent women founders, of which only two per cent go on to get funded.
  • In two years, these have grown steadily with various SheLeadsTech meetups, 15 developer circles and two physical spaces being set up across the country.
  • Panel: Changing face of India’s startup ecosystemThe India Startup Day event also witnessed a panel discussion from renowned names from the industry, moderated by Emeka Afigbo, Head of Developer Programs, Facebook.
  • The panel comprised K S Viswanathan, Vice President, Industry Initiatives of NASSCOM; Meenakshi Jain, Founder of Helper4U; Srinivas Kollipara, CEO of T-Hub Hyderabad; and Pranay Gupta, Co-founder of 91springboard.
  • Conversation: Make for India, make in India for the worldShivnath Thukral from Facebook caught up with Amitabh Kant, CEO NITI Aayog for a quick fireside chat to discuss common goals startups and ecosystem players could work towards.

Design4India Summit and Design Awards 2018 brought together the best from both the design and tech world (yourstory.com)

  • The NASSCOM DESIGN4INDIA Design Summit, in the last two editions, brought together designers, entrepreneurs, designers, corporate leaders and academicians from all walks of life to discuss ways to promote India’s design quotient.
  • Deloitte, Accenture Open Innovation, NASSCOM Foundation, StartupIndia and Adobe were some of the leading partners.
  • The application process was open to corporates, startups, design studios and students.
  • The product design submissions were in the categories of web, mobile, immersive, connected and intelligence, or digital ergonomics products.

Error 400 (Bad Request)!!1 (inc42.com)

  • Inc42 recently sat down with Gopal Pillai, general manager sales of Amazon India, on the sidelines of an event organised by Amazon to outline initiatives related to its Great Indian Festival sale that starts today (October 10) and ends on October 15, in the lead up to Diwali next month.
  • Sitting in a room situated on the ground floor of a three-storied house that’s furnished to the nook with everything bought from Amazon.in, Pillai speaks to us about Amazon’s efforts over the years to attract more sellers to its platform and explains the workings of Amazon’s magic Flywheel — a business model that was first designed in the 90s and continues to power the company’s businesses even today!
  • If you see the Amazon Flywheel, sellers play a critical role in bringing selection to customers, Pillai explains, as he outlines some of the key programmes that Amazon has run to attract sellers.
  • In the lead up to The Great Indian Festival, Amazon has launched the ‘Select’ programme, which is aimed at helping entrepreneurs in the SME category create brand names for their products.
  • At present, 37,000 sellers transact on its global sellers’ platform (the number also includes sellers who only cater to foreign markets).
  • The online retailer’s major sale event, called the ‘Maha Cashback Sale’, coincides with Flipkart’s Big Billion Days and Amazon’s Great Indian Festival and will run from October 9-15.