Reliance has acquired Sankhya Sutra Labs, Easy Gov, and Reverie through its subsidiary Reliance Industrial Investments & Holdings. The brand has been interested in acquiring a range of budding startups in order to boost their upcoming ecommerce efforts. According to filings, RIIHL is planning to invest close to 190 Crore INR to acquire Reverie’s shares. It will also be investing close to 77 Crore INR in this startup, and this deal is said to close by March 2021.
Furthermore, RIIHL will also be investing 18 Crore INR in EasyGov, along with an additional investment of 50 Crores INR in the startup, which is based out of Noida. As a result of this investment, Reliance will own a 76% equity stake in EasyGov. EasyGov is an SaaS based citizen convenience startup.
Finally, RIIHL is also currently in the process of acquiring Sankhya Sutra Labs’ equity shares. They will be investing 16.02 Crore INR in the same. Their total investment in this company is said to be around 200 Crore INR, according to various media reports. However, this deal is still currently in the works and the final number may change a little once it goes through.
The three companies can prove to be quite crucial for Reliance. Reveries will be instrumental in creating a multi-lingual experience for Reliance while EasyGov will make it simpler for them to push government to citizen schemes. Sankhya Sutra Labs, which specializes in simulations, should help Reliance create and gain from simulations that show various dynamics and industry information.