Procter & Gamble India has announced a $24-million ‘P&G Technovate Fund’, while online gaming unicorn Games24x7 is launching a $48.3-million investment fund.
P&G sets up Technovate Fund
Procter & Gamble (P&G) India has announced a $24-million (Rs. 200 crore) ‘P&G Technovate Fund’ to solve business challenges by fostering innovation and leveraging innovative technology in collaboration with existing and new external suppliers.
This new fund is part of P&G India’s ‘vGrow’ programme that focuses on identifying and collaborating with startups, small businesses, individuals, and large organisations offering innovative industry-leading business solutions.
Games24x7 launches investment fund
Online gaming unicorn Games24x7 said it is launching a Rs 400-crore investment fund – Games 24×7 Ventures – to explore early-stage targets in the interactive entertainment space.
The fund will focus on investing in startups that have synergies with the company’s core business areas.
The company, backed by investors such as Tiger Global Management and Raine Group, said the selected startups will also gain from Games24x7’s deep understanding of consumers.