The weekly Tech update
- FCC moves closer to dismantling net neutrality – The U.S. Federal Communications Commission is poised to take the first formal step toward dismantling Obama-era net neutrality rules, which require internet service providers to treat all web traffic equally. Lobbyists and politicians on both sides of issue are stepping up efforts to influence the decision.
- Google announces a lot of new stuff – Google kicked off its annual developer conference with a slew of announcements around Android, AI, virtual reality, photo management and even how you’ll find your next job.
- Startup India: No free lunch for Startups – Generate jobs to get benefits !
Funding
- India’s Paytm raises $1.4B – Digital payments provider Paytm has raised $1.4 billion from SoftBank Group in what the India-based company says is the largest-ever funding round from a single investor for the country’s technology sector. The investment will go to One97 Communications, which operates the Paytm brand.
- Consumer start-up EzCred raises more than $1 mn in fund -Consumer lending startup EzCred, founded by former Zephyr Peacock India managing director Sachin Maheshwari and Zipdial co-founder Amiya Pathak, has raised more than $1 million (about `6.5 crore) from a clutch of angel investors in its first round of funding.
- Digital marketing platform b-dash gets US$28.4 million in Series C funding – Tokyo-based From Scratch, the startup behind integrated digital marketing platform known as b→dash, announced on Tuesday that it has secured 3.2 billion yen (about US$28.4 million) in its Series C funding round.
RIP
- The food-delivery startup Maple has shut down – Leaked documents last year showed the company was in trouble.
- Qliance healthcare startup cites lender fraud for sudden shutdown as patients are left in the lurch – Qliance Medical Management — a Seattle-based healthcare startup originally backed by investors including Amazon founder Jeff Bezos, TV personality Drew Carey and computer mogul Michael Dell — closed its six primary care clinics suddenly this week, saying the company would shut down June 15 due to financial difficulties.
- FoodTech startup Eatonomist Closes; Founder to Join UberEats – Food Tech Startup Eatonomist which is runned by Fitmeal Solutions Pvt. Ltd, has reportedly shut down their operations. The startup has quoted ” Will be Back Shortly” on their official website.The Gurgaon-Based startup was founded in 2014 by Anisha Dhar and Nupur Khanna. Eatonomist is an online food delivery startup that used to deliver meals prepared in its own kitchens.