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STARTUP DIGEST: Here’re top stories of the day


There were several developments in the startup space during the day, which include Abu Dhabi Investment Authority to invest Rs 5,512.50 crore in Reliance Retail Ventures; CCI appeals in SC against Karnataka HC stay on probe against Amazon, Flipkart; Former Ola Financial chief's startup Uni raises $18.5 million from Lightspeed and Accel; Amazon to host 'Great Indian Festival' from Oct 17onwards.

STARTUP DIGEST: Here’re top stories of the day
There were several developments in the startup space during the day, which include Abu Dhabi Investment Authority to invest Rs 5,512.50 crore in Reliance Retail Ventures; CCI appeals in SC against Karnataka HC stay on probe against Amazon, Flipkart; Former Ola Financial chief's startup Uni raises $18.5 million from Lightspeed and Accel; Amazon to host 'Great Indian Festival' from Oct 17onwards.
Here are today’s top startup updates:
Abu Dhabi Investment Authority to invest Rs 5,512.50 crore in Reliance Retail Ventures
Abu Dhabi Investment Authority (ADIA) will invest Rs 5,512.5 crore in Reliance Industries Ltd's retail arm, Reliance Retail Ventures Limited (RRVL).
This investment values RRVL at a pre-money equity value of Rs 4.285 lakh crore. ADIA’s investment will translate into a 1.20 percent equity stake in RRVL on a fully diluted basis.
With this investment, RRVL has raised Rs 37,710 crore from leading global investors including Silver Lake, KKR, General Atlantic, Mubadala, GIC, TPG, and ADIA in less than four weeks.
CCI appeals in SC against Karnataka HC stay on probe against Amazon, Flipkart
The Competition Commission of India (CCI) has appealed in the Supreme Court against Karnataka HC's interim stay on a probe that the watchdog had ordered against ecommerce majors Flipkart and Amazon over alleged anti-competitive practices. The CCI has filed a Special Leave Petition on September 21 in the Supreme Court.
The competition watchdog had, on January 13, ordered a probe against Amazon, Flipkart on alleged anti-competitive practices on a case filed by the Delhi Vyapar Mahasangh under Section 3 of the Competition Act.
Section 3 of the Act deals with anti-competitive agreements, and the Delhi-based association had alleged that both Amazon and Flipkart were indulging in exclusive arrangements with smartphone makers, preferential treatment to some sellers, and deep discounting.
The CCI had said there was a prima facie case and had asked the DG to investigate both companies.
Ola Financial CEO led startup Uni raises $18.5 million from Lightspeed and Accel
Fintech startup Uni raised $18.5 million in a funding round led by Lightspeed and Accel. The company, led by Nitin Gupta, former CEO of Ola Financial Services and co-founder and CEO of PayU India, has seemingly bagged one of India's largest seed rounds.
The company said that the credit cards market in India is still under-penetrated as compared to digital payments, with 34 million credit card users having 58 million credit cards, whereas there are over 100 million Indians who pay digitally and electronically. With Uni, the company is hoping to bridge the gap for credit cards and make them more accessible for consumers across different regions.
Amazon to host 'Great Indian Festival' from Oct 17 onwards
E-commerce giant Amazon on Tuesday said it will host its ’Great Indian Festival’ from October 17 onwards. Unlike previous years, did not provide an end-date for the sale event saying it’s a “month-long celebration” that will coincide with the festive season across Dussehra to Diwali.
Prime members to get 24 hours early access starting October 16. 6.5 lakh+ sellers, 4 crore products from Small & Medium Businesses and products from over 20,000 local shops across 100 cities will join the shopping festival. 1 lakh+ local shops and Kiranas have been enabled by Amazon to serve customers during the festive season.
Amazon rival, Flipkart is slated to host its annual ’The Big Billion Days’ sale from October 16-21.
Overall spend may drop this festive season; 50% consumers could shop online: LocalCircles Survey
Half of the festive shoppers will choose e-commerce this year for shopping compares to only 27 percent consumers last year, a survey by LocalCircles showed.
However, the overall spend during the festive season will likely see a fall from last year, as per the survey, as more people will shop for lower ticket items and more will refrain from spending.
About 24 percent of those polled said they will visit malls, local retailers, markets for festive shopping. Half of the consumer spending is expected to be concentrated to a few cities such as Bangalore, Hyderabad, Noida, Gurugram and Kolkata among top cities.
The survey, conducted at a national level received over 300,000 responses from consumers across 330+ districts of India, Localcircles said.
Ministry of Urban Affairs-Swiggy partner to take street food vendors’ businesses online
Union Housing and Urban Affairs Ministry has partnered with food tech platform Swiggy to take Street Food Vendors Online Under PM SVANIDHI Scheme to take these small businesses online.
The initiative will be launched in Ahmedabad, Chennai, Delhi, Indore, and Varanasi on a pilot basis and will onboard 250 vendors.
Swiggy on its part will help street vendors with PAN and FSSAI registration, technology or partner app usage training, menu digitisation and pricing, and best hygiene and packaging practices.
JetSynthesys buys Pune-based game development studio Nautilus Mobile
JetSynthesys, a digital entertainment and technology company has acquired Nautilus Mobile, the Pune-based game development studio behind the Real Cricket franchise. This cements its position as the leader of skill-based cricket gaming franchise in the world with more than 100 million downloads and a highly engaged community of over 1 crore monthly active users (MAUs), JetSynthesys said in a press statement.
It has an exclusive joint venture with batting legend Sachin Tendulkar and has already released two games with him: Sachin Saga Cricket Champions and Sachin Saga VR.
India's first national awards for startups announced
The government of India announced the winners of its maiden national awards for startups and incubators following a ten month long wait. The registrations for National Startup Awards 2020 had started in December. A number of startups from 12 different sectors received the national award from commerce minister Piyush Goyal.
The aim of the government was to recognise and reward startups building innovative products with high potential of employment generation or wealth creation, demonstrating measurable social impact.
More than 1,600 startups belonging to 35 sectors of the economy and more than 40 incubators and accelerators from government and private sectors too participated in these awards.
While the winning startup founders got a cash prize of Rs 5 lakh, the incubators and accelerators got Rs 15 lakh as the winning amount.
The list of startups that won National Award this year:
Allied areas (Fisheries, Poultry, Animal Husbandry Etc.): Cornext Agri Products Private Limited
Farmer engagement and education: Mandya Organic Foods Private Limited
Post-harvest: Intello Labs Private Limited
Agriculture productivity: Nava Design Innovation Private Limited
Access to food: Food Cloud Pvt Ltd
Food processing: God's Own Food Solutions Pt Ltd (OPC)
Access to institutional education: Robotguru Education Technologies Private Limited
Access to open education: KickheadSoftwares Private Limited
Clean energy: Aloe Ecell Private Limited
Energy Efficiency: Esyasoft Technologies Private Limited
Access to healthcare: Wellthy Therapeutics Private Limited
Diagnostics: Niramai Health Analytix Private Limited
Life Sciences: Bonayu Lifesciences Private Limited
Medical Devices: Innaumation Medical Devices Private Limited
Enterprise Technology
Enterprise Solutions: Unnati Online Private Limited
Fintech: Resilient Innovations Private Limited
Industry 4.0
Big Data: UptimeAI Tech Private Limited
Internet of Things: Minionlabs India Private Limited
3D Printing: Fabheads Automation Private Limited
Augmented reality products/wearables: Scapic Innovations Private Limited
Robotics: Planys Technologies Pvt Ltd
Computer vision: Gingermind Technologies Pvt Ltd
Hospitality: Feeinsta Consulting & Services Private Limited
Travel Planning and Discovery: Param People Infotech Solutions Pvt Ltd
Citizen security solutions: Staqu Technologies Private Limited
Cyber security: Lucideus Tech Private Limited
Urban Services
Construction development monitoring solutions: SNPC Machines Private Limited
Traffic management: Wickedride Adventure Services Private Limited
Waste management: Sukriti Social Foundation
Water and water networks: Taraltec Solutions Private Limited
Launch vehicles: Skyroot Aerospace Private Limited
Satellite technology: Dhruva Space Private Limited & Bellatrix Aerospace Private Limited
Special category
Women led/ startups with a women founder: Azooka Labs Private Limited
Startups having a rural impact: Bodhami Private Limited
Campus initiated/ campus-based startups: Genrobotic Innovations Private Limited
Top Incubator
Winner: Villgro Innovations Foundation
Top accelerator
Winner: Brigade Real Estate Accelerator Program
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