Startup Street: Practo Makes Its 5th Acquisition
Infosys invests in ideaForge, Practo makes its fifth acquisition, and a lot more.
Strategic investments, acquisitions, and even comic cons, its been a busy week on Startup Street.
Infosys Invests In Drone Startup
Infosys Ltd. has made a strategic investment in Navi Mumbai-based drone maker, ideaForge Technology Pvt. Ltd. The investment has been made via Infosys’ innovation fund, which it uses to invest in fledgling enterprises with the potential to add to its core business.
The startup is best known for providing drones to the Indian army for surveillance and rescue operations. Its technology can also be used in a variety of fields including agriculture, mapping, mining, and wildlife conservation.
The strategic collaboration with Infosys will allow the ideaForge to unlock new relationships and partnerships with industrial customers across the world and explore other drone-related opportunities, the startup told BloombergQuint in an e-mail.
Since we are venturing into the geospatial domain, our products will be redeveloped and upgraded with different specifications, to provide the best solutions and services. This investment will play an integral role in our research, development and implementation of the path-breaking technology.ideaForge To BloombergQuint
The startup is planning to expand its team and develop high-capacity systems for industrial use, ideaForge added. “These systems will feature high endurance, range, imaging capability and processing.”
Practo Acquires Healthcare Analytics Startup
Healthcare services platform Practo Technologies Pvt. Ltd. made its fifth acquisition - buying Bangalore-based analytics startup Enlightiks Business Solutions Pvt. Ltd. for an undisclosed amount.
All 50 members of Enlightik’s team will join Practo, and form the analytics business unit within the company, according to Practo’s statement to the media. The unit will be headed by Vamsi Kasivajjala, the co-founder and chief executive officer of Enlightiks.
This brings Practo closer to its vision of simplifying healthcare by providing end to end solutions for the entire ecosystem. With Querent (Enlightik’s business intelligence unit), we will be able to help CXOs make their enterprises run more efficiently which should improve the overall quality of care while making it more affordable.Shashank ND, Founder & CEO, Practo
Enlightiks provides business intelligence solutions to health and wellness enterprises, including the Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute in Mumbai.
We chose Practo so that we can collaborate and work towards offering superior, comprehensive and integrated solutions for healthcare providers.Vamsi Kasivajjala, Co-Founder & CEO, Enlightiks
Comic Cons And Startups
Comic cons have emerged as a preferred advertising opportunity for merchandise startups this year with the sixth Delhi Comic Con seeing a hoard of brands displaying their products amid the fantasy festivities.
“Being an online store, comic con is a great place to showcase and display our products and evaluate response from an audience who has a very similar interest base. We go back with some great insights and of course profit in the process. ,” Tarun Jangid, the co-founder of Utpatang, a 1.5-year-old merchandise startup, told BloombergQuint.
The startup, which focuses on merchandise for music festivals and movies, also attended the Mumbai Comic Con this year, and is looking for more such opportunities.
Next year we will also participate in other city editions of comic con including newly launched Pune Express Comic Con.Tarun Jangid, Co-Founder, Utpatang
Utpatang is the official merchandise partner for Red Chillies Entertainment, NH7 Bacardi Weekender and the Enchanted Valley Carnival music festival. The startup will increase its product pipeline and launch an updated version of its website on January 1, 2017, Jangid added.
Several other merchandise startups such as Comic Planet, Tathya, Garbage Bin, Sculp art, Ek Do Dhai, Wear Your Opinion, and Being Indian were also present at the Delhi Comic Con, according to the event’s official website.
Former Barclays Chief Joins Bitcon Startup
Antony Jenkins, the former chief executive officer of Barclays Plc has been appointed independent director of Blockchain, a London-based startup that provides services related to bitcoin and other cryptocurrencies.
In a note on the startup’s website, Peter Smith, the chief executive officer and co-founder of Blockchain, said that the two first met when they were seated next to each other at a dinner that they co-hosted with Lepe Partners. “We fell into a deep conversation about the impending collision between the finance industry and technology,” he added.
Here are a few paragraphs of Smith’s note on the Blockchain website, sharing a personal account of why Antony Jenkins was the right choice for the startup.
Jenkins was at the helm of Barclays for around 17 years until he was ousted in 2015. In November this year, Jenkins launched 10x Future Technologies, a firm that aims to modernise the back office technology used by banks.