FableStreet raises seed funding

FableStreet, a premium work-wear brand, has raised a seed round from angel investors Kanwaljit Singh, Managing Director, Fireside Ventures; Harmeet Bajaj, who has over 25 years’ experience in international and domestic fashion industry; and, Pameela P, Fusiontech Ventures. There were other investors in consumer, retail and tech space. It will use the money to scale up operations and build the team. The company is also opening international shipping shortly and will pilot concept store model FS Studio for its customers. The Delhi-based start-up has been founded by Ayushi Gudwani, an ex-McKinsey consultant and IIM Calcutta alumnus.

Reliance picks 25% in Balaji Tele

Reliance Industries has bought 24.9 per cent stake in Balaji Telefilms for ₹413.28 crore. The investment will take place through a preferential issue of 2.52 crore shares at ₹164 a share. The proceeds from the deal will be used to speed up content development initiatives.

Sumitomo exits Reliance Capital

Sumitomo Mitsui Bank has sold seven million shares of Reliance Capital through a bulk deal on the stock exchange at ₹650.85 a share. The shares sold represent 2.78 per cent of the total outstanding shares of Reliance Capital.

Flytta gets seed funding

Flytta, a Hyderabad-based start-up that offers relocation services, has raised an undisclosed sum in seed investment from Corvus Ventures. It will use the money to build alliances with more corporates and create targeted relocation offerings.

Gayle invests in gaming start-up

West Indies cricketer Chris Gayle has invested an undisclosed amount in virtual reality gaming start-up IONA Entertainment. Gayle is also the brand ambassador for this Bengaluru-based company founded in 2016 that has got investment from Vestasia of Singapore.

Google buys AI start-up Halli Labs

Google has acquired Bengaluru-based artificial intelligence start-up Halli Labs. The venture is focussed on building deep- and machine-learning systems. The four-month-old Halli Labs was founded to apply modern artificial intelligence and machine learning techniques to old problems and domains. It will join Google’s Next Billion Users team to help get more technology and information into more people’s hands.

Paytm buys stake in Insider.in

Paytm has bought a majority stake in Insider.in for an undisclosed amount. Insider.in is a ticketing platform for events and properties. This acquisition will enable Paytm’s customers to discover events and book tickets instantly. Our Bureau

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