Sinclair leads $10.3M investment in rideshare advertising startup Octopus

Octopus Interactive, a startup bringing an interactive TV and ad experience into Uber and Lyft rides, has raised a $10.3 million funding round led by Sinclair Digital Group. Backseat TVs mixing show snippets and commercials have become a common part of the taxi experience in New York City and elsewhere. Octopus is offering something of a more interactive version of this concept to rideshare drivers, who can use it to keep their passengers entertained and also earn extra money. Octopus says it provides drivers with tablets that combine games (which…

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Hyundai-Kia’s $300 Mn investment in Ola finally receives CCI nod

Hyundai and Kia Motors’ $300 million investment plan in ride-hailing juggernaut Ola has finally received a green signal from the Competition Commission of India (CCI). The antitrust watchdog has approved the acquisition of shares in Ola’s parent entity, ANI Technologies & Ola Electric by Hyundai Motor and its affiliate Kia Motors subjected to compliance of modifications. With the collaboration, most of the new investment will be infused into ANI Technologies. Furthermore, Hyundai and Kia will take a minority stake in Ola Electric. This investment round may also witness participation from Microsoft and…

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SC panel declares public health emergency in Delhi-NCR, bans construction till Nov 5

A Supreme Court mandated panel on Friday declared a public health emergency in the Delhi-NCR region and banned construction activity till November 5. As pollution level in the region entered the “severe plus” category, the Environment Pollution (Prevention and Control) Authority also banned the bursting of crackers during the winter season. The air quality in Delhi-NCR deteriorated further Thursday night and is now at the severe plus level, EPCA chairperson Bhure Lal said in a letter to the chief secretaries of Uttar Pradesh, Haryana and Delhi. “We have to take…

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CCI clears Advent International investment in Aditya Birla Capital

NEW DELHI : The Competition Commission of India (CCI) has approved indirect acquisition of 4.15% stake in Aditya Birla Capital Ltd. by private equity firm Advent International Corp., said an official release. The investment is being made by Jomei Investments Limited (JIL) which is wholly-owned by a fund managed by Advent International Corp. CCI did not specify the amount of investment coming into Aditya Birla Capital, but the company had said in September that its board had approved mobilising Rs2,100 crore investments including Rs1,000 crore of equity investments from Jomei Investments Ltd, an affiliate…

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Foreign investment or grassroots growth – the future of mining in Rwanda

It is one of the smallest countries in Africa with a total area estimated at around 26,000km² and a population of roughly 12 million people. You can drive across its winding, smoothly paved roads in a matter of hours. But Rwanda, a mountainous country known locally as le Mille Collines – the land of a thousand hills – punches well above its weight: it is one of Africa’s fastest-growing economies despite experiencing a civil war just two and a half decades ago. Among the countries most promising industries is the mining sector,…

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Spanish Justice Divided In Glovo’s Business Model

MADRID, SPAIN – JULY 29: A rider of Glovo on his motorbike on July 29, 2019 in Madrid, Spain. (Photo by Eduardo Parra/Europa Press via Getty Images) EUROPA PRESS VIA GETTY IMAGES The Superior Court of Justice of Madrid (TSJM) has ruled that a deliveryman of the Spanish start-up Glovo is not a false self-employed. The ruling equals the number of sentences endorsing Glovo’s business model with the number of sentences in favor of the ‘riders’. The Spanish start-up, founded in Barcelona four years ago, has become an international platform…

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