Walmart in talks for $25 billion investment in Tata’s super app
Walmart is in talks with Tata Group for a large share in Tata’s proposed retail ‘super app’.
The platform is being considered for launch in December 2020 or January 2021 in India and could be a joint venture between Tata and Walmart.
The deal entails the US retail giant’s total eventual strategic investment in the super app platform to touch $20-25 billion.
Investment tech startup Smallcase raises Rs.100 crore
Bengaluru-based investment tech startup Smallcase has raised $14 million (~100 crore) in a Series-B round led by DSP Group. It already has the backing of high profile investors like Sequoia Capital India, Blume Ventures, Beenext and WEH Ventures.
The capital infusion round also saw participation from angel investors such as Utpal Sheth, CEO at Rare Enterprises (owned by Rakesh Jhunjhunwala) and Kunal Shah, founder of CRED.
Court declares Sterling Biotech promoters 'fugitive economic offenders'
A Delhi court declared the Sandesaras, named in the Sterling Biotech bank fraud case, as fugitive economic offenders (FEOs).
The Sandesara brothers, promoters of the Gujarat-based pharmaceutical company Sterling Biotech, fled the country in 2017. The amount of the fraud is ~Rs 15,000 crore and is bigger than the Punjab National Bank (PNB) scam.