Zomato raises funding at a valuation of $3 Billion; Sachin Bansal's NAVI to buy DHFL General Insurance

VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFYCUABF&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0& Mid-day Digest - 10th January VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUFVwIJSQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0& [Foodtech unicorn Zomato raises $150M at a valuation of $3B]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUFVwIJSQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) Indian foodtech unicorn Zomato has raised $150 million as a part of a fresh fund raise from existing investor, Ant Financial. Post this funding, the total valuation of the company stands at around $3 billion [Navi Technologies to buy DHFL General Insurance]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUFVwIISQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) Sachin Bansal-led Navi Technologies will acquire DHFL General Insurance Ltd (DHFLGI) for an undisclosed amount. [PayU consolidates its LazyPay business with PaySense; will inject $200M in the combined entity]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUFVwILSQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) Naspers-backed fintech firm PayU is merging its consumer lending business LazyPay with Mumbai-based consumer lending startup PaySense. VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUFVwILSQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0& [Amazon founder Jeff Bezos to visit India next week]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUFVwIKSQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) Amazon founder and CEO Jeff Bezos will be visiting India next week and is likely to meet Prime Minister Narendra Modi and other officials, besides industry leaders. VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUFVwINSQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0& [Ripplr raises seed money from 3one4 Capital, Sprout Venture Partners]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUFVwINSQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) Bengaluru-based startup Ripplr, founded by Abhishek Nehru and Santosh Dabke, has raised an undisclosed amount in its seed round led by 3one4 Capital and Sprout Venture Partners. [FSSAI asks food operators to be aware of fake websites]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUFVwIMSQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) Food safety regulator FSSAI appealed food business operators (FBOs) to be aware of fake websites being operated for providing registration and licensing services. [RBI introduces video-based identification process for KYC]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUFVwIPSQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) The RBI amended the KYC norms allowing banks and other lending institutions regulated by it to use Video-based Customer Identification Process (V-CIP), a move which will help onboard customers remotely. VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUEUQQJSQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0& “Startups not only need to have a good product but also market those products and ensure the scale is global,” says Ritesh Modi, startup mentor and Regional Director and Regional Lead, Microsoft Certified Trainers. [In an interview with YourStory, Ritesh shares his experience of mentoring startups, the challenges they face, how they have overcome and why he believes startups need a technology partner to bring scalability to their application as well as the business.]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUEUQQJSQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUEXgEASQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0& Operating on a massive scale, sending over 30 billion push notifications a month, iZooto relies completely on open-source. Sachin Grover, Founder & CTO, iZooto, “It is simple for users. There are no licences, no cost. Troubleshooting is also easy. And experimenting on-premise is straightforward when it comes to open source.” [In this interview with YourStory, Sachin deep dives into the early days of iZooto, the challenges they faced and how they overcame them by leveraging open source technology.]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUEXgEASQ==&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) Follow us on social media for more frequent updates [Facebook]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFEHUghF&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) [Twitter]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFEHUgdF&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) [Instagram]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFEHUgZF&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) [Linkedin]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFEHXwFF&sl=I0h6S2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) -- [Click Here]( VAEOBUoESBBGD0NNR1ZfVQdYBURYDV1TIQUMBQpYGwZfD0UVF1BAQxZQDldXXlwVC1pbDiYCXQJRCBpbWlVN&ml=UAcJB0oFSFUFVwIOSQ==&sl=I0hsS2NmSDd5MkxVW1wAGQhXT0peFhcWFQ0THU1XWghMUg==&pp=0&) to unsubscribe from this newsletter.