Taking ahead its acquisition spree to expand its product portfolio, Delhi-based cloud-based communications solutions provider Knowlarity has completed its 2-step acquisition of Sunoray after absorbing its end-to-end cloud-SaaS customer relationship management arm Tentacle. Post-integration, Knowlarity plans to use its vast network to take Tentacle to the next level of sales and product development.
The government is planning to control prices of medical devices by restricting their trade margins, a departure from the existing mechanism of capping prices. Once the new mechanism is decided, it will apply to devices such as cardiac stents and knee implants, prices of which were slashed by as much as 85% using powers under the Drugs Price Control Order (DPCO), 2013. There are three separate formulae under consideration and one of the three will be decided for calculation of maximum retail price (MRP) in the next few days.
Amazon, the world’s largest online retailer, has invested an additional Rs.2,700 cr. ($386 million) in its Indian unit, bringing its total investment in India to roughly $4 billion in the five years that it has operated in the country.
Over-the-top content platform Hotsar’s owner Novi Digital media has received an infusion of Rs.516 cr. from Star US, and is now valued at Rs.1,849 cr. Novi is a wholly-owned subsidiary of Star India Pvt Ltd.
Bugworks Research, a Bengaluru and Delaware-based bio-pharma startup, has raised a Series A round of $9 million (about Rs.62.2 cr.) led by the University of Tokyo Edge Capital (UTEC). The company plans to use the funds to deepen its clinical trials.
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