Accelerators & Incubators
Policy & Regulation
Indian Flipkart, Amazon Get Notices over Non-Compliance of Country of Origin Rule
The government in June had mandated that all ecommerce entities must follow the rules for displaying country of origin as per the Legal Metrology (Packaged Commodities) Rule, 2011.
Bengaluru-Based Insurtech Startup ACKO Raises $60M Led by Munich Re Ventures
It claims to provide frictionless insurance to the ‘digitally savvy’ through an intuitive purchase experience, zero-paperwork, and stress-free claims process.
Indian Amazon Outpaces Flipkart as Online Sales Revive Smartphone Demand in Q2
Amazon surpassed Flipkart with a share of 47% in all online sales, while Flipkart had a 42% share.
Indonesia Imposes 10% VAT on Amazon, Google And Netflix
Under the new rules, non-resident foreign firms which sell digital products and services in Indonesia worth at least 600 million rupiah ($41,667) a year.
Amazon Signals Entry into Alcohol Delivery in Indian Eastern State
Alibaba-backed Indian grocery venture BigBasket has also won approval to deliver alcohol in the state.
United Arab Emirates
Payfort Launches $272,000 Initiative to Support Startups
Payfort, a subsidiary of retail giant Amazon, has launched a $272,000 initiative in the UAE aimed at supporting startups and small-to-medium sized businesses (SMB).
Sequoia-backed BankBazaar Bags $6m to Build out Contactless Financing Capabilities
BankBazaar’s marketplace provides customized offers on loans, credit cards, mutual funds, and insurance products. Users can search, compare, and apply for financial products on the startup’s website or mobile app.
India-based Online Lender Capital Float Raises $15M Investment from Existing Investors
Participants in the round included Ribbit Capital, Amazon, SAIF Partners, and Sequoia Capital India.
India-based Online Financial Services Marketplace BankBazaar raises Rs 29 Cr from Amazon, Sequoia Capital, others
In November 2019, PolicyBazaar raised close to $150 million in funding from Chinese Tencent Holdings at a valuation little more than $1.5 billion.
New Energy Vehicle
Amazon To Adopt 10K Electric Vehicles Made By Indian OEMs
The electric rickshaws will operate in Bengaluru, Delhi NCR, Hyderabad and other cities by 2025.
Amazon AWS proposes AI to help NASA predict super solar storms
NASA is working with Amazon’s cloud computing services service AWS and Amazon Machine Learning Solutions Lab on a project to use artificial intelligence (AI) to provide early warning of supersolar storms.
Amazon Will Invest $1 Bn In India To Digitise SMBs: Jeff Bezos
Amazon CEO Jeff Bezos made the announcement at the Amazon Smbhav event.
New Energy Vehicle
Amazon Launches Echo Auto In India; Brings Alexa To Rivian EVs
Amazon has also partnered with Lamborghini for smart car functionality
Amazon India inks long-term deals with Future Retail, FCL
This comes after Amazon agreed to buy 49 percent stake in Future Coupons Ltd that in turn holds a stake in Future Retail Ltd (FRL).
Amazon wants to patent technology that could identify shoppers by their hands
The system could someday be used in Amazon Go or Whole Foods stores.
Dish reportedly looks to partner with Apple, Google or Amazon to build its 5G network
Apple would be an interesting partner for Dish because it appears as though the iPhone manufacturer is looking at ways to bypass the traditional carriers and send data directly to iPhone units via satellite.
Amazon launches free audio streaming app Audible Suno for India
Amazon has tied up homegrown digital content creators to bring original audio shows in English and Hindi for Indian listeners on the Audible Suno app.
Amazon Lowers Shekel Conversion Fees for Online Purchases
The commission went down to as low as 2.2% of the total purchase sum, a significantly lower rate than that offered by most Israeli credit card companies.
Amazon India Plots Private Label Expansion With Accelerator Programme
Amazon Accelerator will help etailers expand into labels.
Amazon, Dineout Co-Create Marketplace For Restaurants’ Inventory Management
Amazon is looking to launch its food delivery services in December.
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