IdeaIndia.com Tech Update Gives You a Quick Briefing about Disruptive Technology and the Digital Economy from India.
Thought for the Week: Despite talk of a global downturn, India is still showing potential with investments and partnerships from abroad announced this week.
Flipkart and Nokia tie-up: Flipkart and Nokia are collaborating to bring Nokia smart TVs to India. Flipkart will help in manufacturing and sales of the TVs. This will increase the number of branded goods offered by the ecommerce giant in India.
Tencent invests in Indian startups: WeChat owner, Tencent is in discussions with 2 startups in India for investments. This shows increased interest by the Chinese tech firm in Indian startups. The 2 startups in question are Doubtnut and Pratilipi. This is against the backdrop of ByteDance’s TikTok gaining market share in India. This may be a sign of saturation in the Chinese market and tech firms, therefore, looking for opportunities in other markets.
BharatNet in Tamil Nadu: Government is planning to implement its BharatNet project in Tamil Nadu. BharatNet plans to provide high-speed broadband to each household in village panchayats across the country.
AngelList in India: AngelList, the Silicon Valley platform for startups to raise capital, is launching in India. The platform allows people to raise ‘blind pools’ of funds and deploy the capital over about 12 months. Legal and regulatory issues are managed by AngelList.
Uber restructures its India business: Uber has restructured its India business to be India domiciled to simplify its tax. Previously this had partially operated from the Netherlands.
Tencent invests in Policybazaar: Tencent purchases 10% of Policybazaar in India. Tencent’s other portfolio companies include: Ola, Swiggy & Byju’s.
Kalanick getting in Cloud Kitchens in India: Travis Kalanick’s venture, City Storage Systems is entering the cloud kitchens business where food is for delivery only. Food logistics and infrastructure in India needs investment and this may prove to be a good long-term bet.
Nykaa goes offline beyond major metros: Nykaa, the beauty products ecommerce platform, is pushing ahead with its offline stores in tier-2 cities in India like Bhubaneshwar. Omni-channel selling looks like the way to go.
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