The Indian Startup Ecosystem on 27th July 2017

What All Happened Today In The Startup Ecosystem:

1) Cab booking platform Ola (ANI Technologies Pvt. Ltd) is currently in talks with Chinese internet conglomerate Tencent for a prospective $400 Mn funding round.

2) Online beauty services provider BigStylist Salon at Home has raised $1.2 Mn (INR 8 Cr) led by Info Edge India Ltd.

3) Freecharge finds a new home: Sold to Axis Bank for $60 Mn.

4) Department of Industrial Policy & Promotion (DIPP) recognised startups have now been exempted from submitting Earnest Money Deposit (EMD) or the bid security while filling government tenders.

5) 1mg, the healthtech startup has raised an additional $15 Mn in Series C funding round from HBM Healthcare Investments along with existing investors.