RenewBuy.Com gets Rs 60 cr from Amicus Capital

RenewBuy.Com, an online insurance aggregator, today said it has raised Rs 60 crore (USD 9.2 million) from mid-market growth capital fund, Amicus Capital.

RenewBuy is the first investment for Amicus Capital out of the Rs 560 crore (USD 86 million) first close corpus of the Fund, it said in a statement.

Launched in 2015 by Balachander Sekhar and Indraneel Chatterjee, RenewBuy.Com now plans to grow aggressively by expanding into new geographies, and adding new product segments like health, accident and term life, it added.

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IAMAI partners Napino to incubate IoT-based startups in India *The Internet and Mobile Association of India (IAMAI) today said it has partnered Napino to launch IoT.IN, an initiative to incubate Internet of Things-based startups in the country.

Iot.IN will invite nominations from IoT startups based in Delhi-NCR, Bengaluru and Mumbai, which will be shortlisted.

The chosen startups will be provided mentorship, investment and partnership opportunities.

"The focus of the initiative is to encourage young aspiring entrepreneurs to create innovative and disruptive solutions around the IoT," Amazon Internet Services Head (India Region) Bikram Bedi told reporters here.

As a partner, Napino Auto and Electronics intends to invest Rs 60 crore on next-generation tech companies working in the areas of IoT, blockchain, Big Data and artificial intelligence, company's Director Vaibhav Raheja said.

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39 pc Indians trust information on social media: Report *Around 39 per cent of connected consumers in India trust the information they see online on social media platforms compared to 32 per cent globally, says a report.

As per the research agency Kantar TNS, optimism around connectivity is still high in India with only 29 per cent consumers having concerns about the amount of personal data brands have on them, compared to 40 per cent globally.

Connected consumers in India are far more trusting than other countries in the region when it comes to their online activities, the latest connected life research by Kantar TNS said.

"The desire to connect via social media has been the driving force behind a substantial part of the digital revolution in India, and as a result, engagement and trust on social platforms continues to be high," Kantar TNS India Executive Vice President Anusheel Shrivastava said.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)