In a bid to accelerate the development of artificial intelligence and data science related technologies, the Karnataka government is looking to invest $6.1 Mn (INR 40 Cr) for the construction of a state-of-the-art tech hub.
The share buyback plan will be one of the largest programmes till date in the Indian startup sector. As per ET sources, the overall corpus reserved for buyback of shares from employees is over $100 Mn.
Cab aggregator Ola has reportedly raised $2 Bn in a fresh funding round led by the investment arm of Chinese Internet giant, Tencent. Existing investor, Softbank Group Corp, also participated in the round.