India Digest: Byju’s, Uninstall in M&A; Infinite Uptime fundraise; Flipkart to shut eBay
Jul 24, 2018
July 24, 2018
Byju’s has acquired Bengaluru-based learning startup Math Adventures for an undisclosed amount while Singapore based healthtech company Mobile Health has acquired Songline Analytics, which operates Uninstall.io. Separately, IoT firm Infinite Uptime has raised $5 million in a Series A round of funding. In the e-commerce space, Flipkart will shut down eBay.in ending a year’s partnership with eBay India, and launch a new platform to sell refurbished goods. Byju’s acquires Math Adventures
Online education start-up Byju’s has acquired Bengaluru-based learning startup Math Adventures for an undisclosed amount, reported INC42. Founded by a husband and wife duo, Ashok Nair and Vidya Jayaraman, in February 2012, Math Adventures helps children learn through a combination of short videos and an activity-based approach that uses workbooks and tablets. It has partnered with schools for classes from pre-KG to the grade eight. Post acquisition, the Math Adventures team will become a part of the Byju’s content and R&D team. The startup claims to have enrolled about 7,000 students across 12 schools, mostly in Bengaluru. It has also expanded operations to smaller cities such as Mysuru, Tezpur and Jodhpur. Byju’s, reportedly, is also in talks with new and existing investors to raise fresh funds of more than $150 million at a valuation of $1.8-2 billion. The company’s past acquisitions include online tutoring brand TutorVista, education solutions provider Edurite, and data analytics platform Vidyartha. Mobile Health buys Uninstall.io
Singapore based health-tech company Mobile Health has acquired Bengaluru and Singapore-based Songline Analytics, which operates deep analytics startup Uninstall.io, for an undisclosed amount, reported INC42. Founded in October 2015, Uninstall.io helps mobile app developers optimise mobile applications and tracks app uninstalls accurately, thereby helping to improve user retention. With the acquisition, Mobile Health plans to enhance its offerings by integrating the technology stack of Uninstall.io as well as implementing technologies such as data-warehousing, image analysis, machine learning, data analytics and predictive analytics. Infinite Uptime raises $5m
Pune-headquartered industrial internet of things (IoT) firm Infinite Uptime has raised $5 million in a Series A round from a clutch of venture and private equity funds including Mayfield, IL&FS, GSR Ventures and GiTV, reported ET. The startup would use the funding proceeds to expand its presence and existing team. It currently owns a technical team in the US, and plans to set up a 15-member technical team in India. Overall, it aims to grow to 100 people from the current 35 over the next year, the report added. Infinite Uptime counts Godrej, Siemens, Kalyani Group companies and Tata group firms among its clients. Flipkart to shut eBay.in, start new platform
Flipkart will shut down eBay.in ending a year’s partnership with eBay India, and launch a new platform to sell refurbished goods, ET reported quoting chief executive Kalyan Krishnamurthy. The company will terminate all its transactions via eBay.on August 14, 2018. eBay entered the Indian market in 2004. After struggling to find a place in a market dominated by Flipkart and Amazon, it sold its India operations to Flipkart last year. It now wants to relaunch in India with a differentiated offering to focus on cross-border trade. “Our endeavour will be to ensure that all the eBay.in sellers and customers migrate to the new platform over time with a remarkably enhanced experience,” Krishnamurthy said.