 Online grocery delivery platform Milkbasket has acquired Bengaluru-based e-grocery distributor PSR Supply Chain. Founded in early 2015, Milkbasket has built a new-age technology platform to enable a smooth grocery buying experience online. |
| Source: The Live Mint |
 India’s biggest ride-hailing platform Ola Cabs, has received approval from London’stransport regulator to start private hire vehicles (PHV) in the capital city of the UK. Ola will be the first ever platform to offer both PHVs and black cabs in the UK. |
| Source: The Live Mint |
 Japanese company SoftBank has invested around $250 million in Ola Electric Mobility. With this investment, Ola Electric has become the newest unicorn of India, joining the list of companies like Flipkart, Zomato and Paytm. |
| Source: The Business Today |
 According to Department for Promotion of Industry and Internal Trade, Fund of Funds for Startups have provided financial support to 249 startups in last 3 years. The DPIIT is the monitoring agency and Small Industries Development Bank of India is the operating agency for FFS. FFS contributes to the corpus of SEBI registered Alternative Investment Funds (AIFs).These AIFs in turn have to invest at least twice the contribution under FFS in startups. |
| Source: The Business Standard |
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| IT firm Tech Mahindra has signed a multi-year contract with Airbus for cabin and cargo design engineering. The contract aims to capitalise on the specialised skills and competencies in the growing cabin engineering business over the next few years. |
| Source: The Hindu |
 The GoI will set up 51 new incubators for startups in the information and communications technology space across India as part of its Technology Incubation and Development of Entrepreneurs (Tide) 2.0 scheme. Tide 2.0 will offer financial and technical support to incubators supporting ICT startups that are involving usage of deep technologies including artificial intelligence, blockchain, robotics, and internet of things in “pre identified areas of societal relevance”. The scheme has categorized the selection of incubators into three categories: Group 1 Centre (G1C), G2C, and G3C. |
| Source: The Financial Express |
 Facebook has announced a digital currency called Libra that will allow its billions of users to make financial transactions across the globe. Libra is being touted as a means to connect people who do not have access to traditional banking platforms. Technology to make transactions with Libra will be available as a standalone app – as well as on WhatsApp and Facebook Messenger platforms – as early as 2020. |
| Source: The Guardian |
 India’s largest and fastest growing consumer lending technology company ZestMoney, partnered with Digit Insurance to offer EMI insurance to the company’s five million customers. The policy will cover EMI cost in the event of hospitalization, death or permanent disability. The insurance product is specifically designed for ZestMoney’s customers which can be availed while applying for a loan on the digital platform. |
| Source: Business Standard |
 Mortgage lender HDFC has sold over 4.22% stake in subsidiary Gruh Finance Ltd (Gruh), which is proposed to be amalgamated with Bandhan Bank for Rs. 899.43 crore. Post the completion of the aforesaid sale of shares, Gruh would cease to be a subsidiary of the Corporation. Gruh is engaged in the business of providing home loans and is registered with the National Housing Bank as a housing finance company. |
| Source: Live Mint |
 India’s largest software services company Tata Consultancy Services (TCS) has surpassed US technology giant IBM in terms of market capitalisation. As of recent closing, the market cap of TCS stood at Rs8.37 lakh crore ($120.5 billion) compared to IBM’s $119.5 billion. TCS reported revenue of $20.9 billion in the previous fiscal while IBM ended 2018 with $79.6 billion in revenue. |
| Source- BSE |
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