Data analytics company Mu Sigma and its founder, Dhiraj Rajaram, have been accused in a lawsuit of “grossly misleading” its investors, in order to buy back their shares at a lower price. In the allegations filed by Aon Corp. founder, Patrick G. Ryan, claims to be duped of huge sums of money when Mu Sigma Inc. downplayed its growth prospects in a bid to buy back Ryan’s investment company’s (Walworth Investments LLC), early stake in Mu Sigma.
LetsVenture Launches Mobile App
LetsVenture launched a mobile app for investors to discover co-invest and fund startups on the move. The announcement was made at the ongoing conference LetsIgnite event, designed for investors to meet like-minded peers, interact with pre-screened, cutting edge startups. The app is available on Android and iOS platform.
Tripoto Launches AI-Based Travel Assistance
The beta version of the AI-based travel concierge named Tripoto.Ai, is a chat-based virtual interactive assistance that can be used for any queries ranging from destinations, top attractions, travel itineraries, how to reach, best time to visit, getaways, restaurants, culture, festivals, hotels, activities, weather, time and distance.
Ola Shuts Ola Cafe
Ola has shut down its food-delivery service ‘Ola Cafe’. The Ola Cafe icon has also disappeared from the Ola app, nationally. Users in Bangalore, Mumbai and Delhi confirmed that the service is no longer available.
Facebook Deactivated Houzify’s Page
After, Palo Alto-based design and decor company Houzz sent a legal notice to Bangalore-based Houzify, claiming “deceptive similarity” between the trademark Houzz and Houzify/Housify, Facebook has deactivated the latter’s page on the social media site.
Uber Signs MoU With Haryana Government
Uber signed a memorandum of understanding (MoU) with the Haryana government, under which, it will invest $17.7 Mn (INR 120 Cr) in technology-based ride-sharing services in the state. The drivers will be compensated for expenses, tolls and other related costs in the state.