Reliance

JioSaavn’s local competitor Gaana launched its own short-video app HotShots in July.

Jio Platforms had raised USD 20 billion in funding from 13 global high-profile investors including tech giants like Facebook and Google earlier this year.

Reliance Retail has acquired a majority stake in Netmeds for USD 83 million.

Jio Platforms has raised over USD 20 billion in funding from 13 global investors in the last few months.

Although Reliance has about 400 million telecom subscribers, its wide range of digital offerings do not have mass user appeal.

The USD 4.5 billion check that Google wrote for a 7.7% stake is the second-largest investment in Jio Platforms after Facebook.

The latest investment will deepen the ties between the two giants enabling Jio Platforms to roll out advanced 5G infrastructure and services for its 388 million user base.

In the first half of 2020, Indian edtech startups have raised USD 795 million, as compared to USD 108 million it attracted in the same period last year.