Roundup of news and ideas from the world of startups – Week ending 26 Aug 2018
News you can use
Submit your application to TechCrunch Startup Battlefield Africa 2018 – If there’s one thing we learned hosting last year’s Startup Battlefield in Kenya, it’s that the tech startup scene across Africa is both impressive and growing rapidly. More than 300 tech hubs connect and mentor entrepreneurs across the continent — making it an exciting time and place to be a startup. And we can’t wait to see even more of Sub-Saharan Africa’s best innovators, makers and technical entrepreneurs compete in TechCrunch Startup Battlefield Africa 2018 in Lagos, Nigeria on December 11. If you haven’t applied yet, what the heck are you waiting for? Submit your application right here and launch your early-stage startup to the world.
VW Approached Self-Driving Startup Aurora – Volkswagen AG is on the hunt for self-driving technology and recently tried to buy Aurora Innovation, an autonomous-driving startup founded by veterans of Tesla Inc. and Alphabet Inc., according to people familiar with the matter. The German carmaker has been scouring Silicon Valley for targets or partnerships that can help it develop self-driving cars and other mobility technology. Volkswagen had talks to buy Aurora, which is already a partner, only to be rebuffed because the Palo Alto, California-based company wanted to maintain its independence and work with multiple carmakers, said the people, who asked not to be named because the discussions are private.
Corporate M&A
Paytm Acquires Bengaluru Based Smart-Savings Management Startup Balance.Tech – Paytm has acquired Bengaluru-based smart-savings management startup Balance.Tech for an undisclosed amount. The 6-member Balance team will join Paytm’s product and design teams as part of the acquisition. The deal aims to enhance Paytm’s user/merchant interfaces. “We have been building some amazing user experiences, and the ‘Balance.Tech’ team has great insights and track record in building such intelligent and elegantly designed products,” the Paytm blog said, while making the announcement.
Flipkart acquires Artificial Intelligent (AI) startup Liv.ai
Startup shut and failed last week
Israeli medical intelligence startup Treato shuts down – The Israeli startup, Treato recently filed for liquidation at the Tel Aviv District Court. Launched in 2011, Treato operated a platform designed to gather and analyze user-generated health-related information and offer insights on medical conditions and medication.
AutoRaja Shuts Down Services; Co-Founders To Join Ola – Chennai-based auto-rickshaw aggregator, AutoRaja, has finally wound up its services from the city due to lack of funds and inability to sustain competition. With the shut down, the top officials and the remaining fleet has reportedly joined Ola. The AutoRaja’s auto-rickshaws have been told that they will now get their business leads from Ola.