Apple store zone a no-go area for 22 brands⚔️, Mayhem Studios raises $20 Mn🎮, VC's in AI space💰

Mumbai Apple Store to be no-go zone, MPL’s unit Mayhem Studios raises $20 Mn, Venture fund activity in AI, Funding Deals and more.

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Apr 11, 2023

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Today, we are covering:

Mumbai Apple Store to be no-go zone for competing brands
MPL’s unit Mayhem Studios raises $20 million from Sequoia, Steadview, Truecaller, others
Venture fund activity picking up in generative AI space
Funding Deals
ZOHO’s journey to a multi-billion company

Mumbai Apple Store to be no-go zone for competing brands⚔️

Before the launch of its first retail store in India, tech giant Apple set its demands in stone. About two dozen technology, electronics, and ecommerce brands will not have any kind of presence near their store at the Reliance Jio World Drive mall in Mumbai.

According to the lease agreement accessed by data analytic firm CRE Matrix, the company has specified a slew of brands, including Amazon, Facebook, Google, LG, Microsoft, Sony and Twitter, that should be kept out of its “exclusive zone”. This will include stores, hoardings, and advertisements.

Other brands cited are Bose, Dell, Devialet, Foxconn, Garmin, Hitachi, HP, HTC, IBM, Intel, Lenovo, Nest, Panasonic and Toshiba.

MPL’s unit Mayhem Studios raises $20 million from Sequoia, Steadview, Truecaller, others🎮

Mayhem Studios, the mobile game development studio launched by Bengaluru-based online gaming unicorn Mobile Premier League (MPL) last year, has raised $20 million in its Series A round led by Sequoia Capital with participation from Steadview Capital, Truecaller and others.

Mayhem Studios was launched to develop AAA mobile games, which are video game titles with big development and marketing budgets. The game development studio competes with several players including Dream11-parent Dream Sports’ Dream Game Studios, Nazara Technologies, and others.

MPL also forayed into Web3 gaming and launched non-fungible token (NFT) marketplace Good Game Exchange (GGX) last month to tap into the play-to-earn gaming sector.

Venture fund activity picking up in generative AI space💰

Venture capital firms remain keen on the deeptech sector and its potential to drive innovation and growth, even amid a downturn in startup funding. The accelerating impact of AI across the tech industry is a key driver of this interest.

Early-stage venture capital firms pi Ventures and Speciale Invest have secured funding to invest in deeptech and AI startups. Indian startups offering AI or machine learning-based products have so far raised $270 million this calendar year, according to data provided by Tracxn.

According to investors, AI startups can be broadly divided into two categories: those developing and refining their own models, and those constructing application layers that sit atop existing models.

JSW One Platforms has secured Rs 205 crore in funding from Japan's Mitsui & Co, valuing the marketplace at Rs 2,750 crore.
Cold chain marketplace startup Celcius has scooped up Rs 100 crore ($12 million) in a Series A funding led by IvyCap Ventures.
Co-working marketplace Stylework has raised $2 million in its Series A1 round from institutional investors including Capriglobal Holdings, QI Ventures and some undisclosed family offices.
Revenue-based financing company Klub has invested Rs 10 crore in D2C startups such as Papacream, NOTO Ice Cream, Artinci, and Local Ferment Co.