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Startup News Jan 17

1. Edtech startup Byju’s has acquired Osmo, a US-based learning platform for $120 million.

2. Personal care brand Arata Zero Chemicals raises Rs 3.5 crore in seed capital.

3. SaaS startup ITILITE has raised Rs 30 crore in its Series-A funding round led by Matrix Partners and others.

4. Paytm has partnered with Zomato to enable food delivery through the application.

5. Financial services firm Aye Finance has raised $10 million in debt funding.

6. Baring Private Equity Asia Ltd is likely to acquire NIIT Technologies Ltd in a deal that may value the IT solutions company at ₹8,000-10,000 crore, reports DealStreetAsia.

7. Soft Bank Vision Fund has sought approval from the Competition Commission of India (CCI) to acquire a 37.87% stake in Delhivery Pvt Ltd.

8. Now, angel tax applications for exemption, routed through the department of industrial policy and promotion (DIPP), will be processed by the Central Board of Direct Taxes within 45 days. The earlier requirement of startup to submit report from merchant banker specifying the fair market value of shares has also been removed. As per the revised procedure, a startup which is recognised by the DIPP would be eligible to seek exemptions, subject to certain conditions.

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