Startup News roundup for Week ending 22nd October
News you can use
- Top 5 Cashback programs for eCommerce shoppers in India – Review of Indian Cashback , Discount and Coupon sites.
- Apple eyes the Indian Digital Payments segment with its market ready Apple Pay option – Cupertino based tech giant Apple is looking to enter the booming digital payments space in India with Apple Pay following the lead from biggies like Amazon, Flipkart, WhatsApp, Hike and others. To that end, the tech giant is reportedly preparing to partner with local players that already have an established presence in the country.
- The Land Registry’s tapping tech startups to make property more digital with artificial intelligence and chatbots – The government department in charge of the country’s property and land records is turning to startups for technological innovation.Land Registry will work with three property technology, or proptech, startups as part of a new programme aimed at improving property transactions
Corporate Startup Ventures and M&A
JPMorgan Chase to buy Redwood City payments startup WePay: JPMorgan Chase & Co. has agreed to buy fintech startup WePay Inc. so that it can offer its technology to its 4 million small-business customers.Redwood City-based WePay helps online marketplaces and crowdfunding websites process payments. It was last valued at about $220 million when it raised funds in 2015. The companies declined to disclose the price on the deal but the Wall Street Journal cited an unnamed source who said the bank is paying more than what the startup was last valued at.
Cisco To Acquire Machine-Learning Startup Perspica To Boost AppDynamics – The networking and tech giant, Cisco Systems announced that it plans to acquire startup Perspica in an effort to enhance its AppDynamics platform. “With the addition of Perspica to our AppDynamics capabilities, customers will be able to further take advantage of machine-learning capabilities to analyze large amounts of application-related data, in real time and with business context, including when an application is deployed in a company’s public, private and multiple cloud environments”
Chinese-funded EV startup buys tech firm headed by former Tesla exec – SF Motors Inc., a California-based electric vehicle unit of China’s Chongqing Sokon Industry Group, said Thursday it has bought an EV and battery tech firm headed by former Tesla Inc. executive Martin Eberhard for $33 million.
Startups that failed this week
Failed Startup: delivery business Jinn shuts down – This week, London based delivery startup Jinn announced that it is shutting down. Jinn started with technology platform that aims to brings together independent courier services providers with mobile customers provided by Ridee Ltd.