At the time when UPI (Unified Payments Interface) transaction has been witnessing a massive month-on-month growth, the Bharat Interface for Money (BHIM) UPI app shows a slight increase in growth. In the month of December 2017, the BHIM UPI app...
Kolkata-based café chain startup Chai Break has raised Rs 5 crore in angel funding round in lieu of 10% stake from Venture Catalysts of Mumbai. The restaurant chain that serves hookah and snacks now valued at Rs 50 crore...
India think tank NITI Aayog has made recommendation framework for developing and implementing Strategy for Artificial Intelligence nation-wide. A paper titled 'National Strategy for Artificial Intelligence' identified sectors including education, agriculture, health, infrastructure and mobility in smart cities where the...
With a population of 3,929, Mawniandlah from Meghalaya has become the first gram panchayat in the country to get linked with satellite-based high-speed Internet connectivity under the central government's BharatNet project. BSNL demonstrated the live working of Mawniandlah panchayat connected...
Trouble for Travis Kalanick, Co-founder and former CEO at Uber, is going to further increase as one of the investors has decided to sue him over fraud and other transgressions, to remove him from Uber’s board. Benchmark Venture Capital firm,...
Bengaluru-headquartered MyGubbi, a fast growing online home interior decor and furnishing startup has raised $2.7 million in pre-series A funding in a round led by the family office of Firoze Irani; Vipul Parekh, co-founder of BigBasket; Ananda Kallugadde, co-founder...
This week 16 startups received funding, out of which 14 were disclosed, which in total received a sum of about $134 million. Among them, Myntra raised the highest investment of $63.7 million, followed by Pepperfry, which raised $38.5 million. Meanwhile,...
Bangaluru-based Bike taxi company Rapido is in acquisition talks with Hyderabad-based motorcycle-sharing startup Getbike. The deal will help Rapido enter Hyderabad by leveraging on Getbike’s infrastructure and market presence, reports VCCircle. According to the report, post-merger, the Getbike wing will...
Jack Ma-led Chinese Internet major Alibaba is planning to launch an over-the-top (OTT) video service in India in the next three months. The OTT service is likely to be launched in collaboration with its Indian portfolio Paytm and Alibaba’s...
IKEA, the Swedish furnishing retailer, on Wednesday opened its first experiential centre Ikea Hej (Hello) Home close to the IT hub of Hyderabad in India. John Achillea, managing director of IKEA Telengana said that India would be the lowest priced...
Flipkart who emerged as the winner of last month festival sale amongst major Indian e-commerce players is leaving no stone unturned to make it a killing once again. The Bengaluru-based e-tailer will host a 4 day Diwali sale starting...
The wrangling between cab-hailing companies such as Ola and Uber and their partner drivers is continuing in Bengaluru, as the drivers have long been demanding a raise in earnings and incentives. The state government, acting as mediator, has now directed...
Samsung is leaving no stone unturned to maintain its leadership position in India. After losing marketshare to Xiaomi and others, it has now set a target to sell mobile phones worth $6 billion this calendar year. The company, which clocked...
Bengaluru-based home rental startup NestAway losses increased by 163 per cent in the financial year 2016-17 as compared to previous fiscal. It has posted a loss of Rs 97.2 crore in FY 2016-17, Rs 60 crore up from the...
Online learning platform Unacademy has raised $11.5 million in a Series B financing led by Sequoia Capital India and SAIF Partners. Existing investors Nexus Venture Partners, Blume Ventures and a few angels also participated in the round. The Bengaluru-based company...
Software firm Wipro and State Bank of India (SBI) have joined an initiative to accelerate the electric vehicle drive globally. In association with The Climate Group's, global electric vehicles initiative, EV100, both the firms have committed to transitioning their respective global...
To beef up its own fleet, cab-hailing major Ola has invested ($15.5 Mn)Rs 100 crore into its leasing subsidiary Ola Fleet Technologies. The company’s decision to invest in fleet comes at a time when Ola is struggling with decline...
HRTech startup Leena AI, which recently graduated from Y Combinator, has raised about $2 million seed fund from investors including Elad Gil, Snapdeal founders-Kunal Bahl, Rohit Bansal, Fundersclub, cathexis ventures, and others. During Y Combinator's summer class 2018, Leena had also...
Mobike, a China-based bike sharing platform, has raised a funding of $600 million led by Tencent Holdings, as first reported by the ET. Besides Tencent, its existing investors such as Sequoia, TPG and Hillhouse Capital also provided financing in the latest round....
With more than 260 million monthly active users in India, WhatsApp has been facing a tough time since beta testing of yet to be launched UPI service. Now the Facebook-owned instant messaging platform is looking to rope in Visa...
With the rising number of startups in India, the business of shared workspaces is emerging, despite being an eluding one. Many established (and early) startups or even MNCs are spotted inside swanky properties of WeWork, CoWork, Innov8, Investopad, and...
In what could be seen as mobile wallets strides to bounce back from mandatory know-your-customer (KYC) requirements setback three months ago, the value of transactions through them have witnessed a 21 per cent rise in May from April. In May,...
India’s digital bank Paytm Payments Bank has rolled out Paytm FASTag, electronic toll fee collection on highways across the country. According to the company, the government mandating the use of FASTag on every new vehicle sold from December 1. The...
Sellers on Snapdeal have often complained of alleged non-payment of dues by the platform in the past. It appears the matter of payment between sellers and the online platform has not resolved yet and reached the court. Sellers have filed...
This week 15 startups received funding, of which 14 received a total sum of about $82 million. Among them, NewsDog raised the highest investment of $50 million, followed by Raw Pressery which raised about $10 million. Meanwhile, funding for only...
Post Binny Bansal departure over sexual harassment allegation, the Walmart-controlled Flipkart is going through a major reshuffle at top level as well as merger and shrinking Myntra- Jabong team. Ten days after the upheaval, another secret thread has come out...
In its aggressive push in Indian market, Advertising firm Dentsu Aegis Network has acquired Pune-based digital marketing agency Sokrati in estimated Rs 800 crore deal. Post acquisition, the advertising firm will rebrand its search and customer relation marketing firm Merkle...
ZDream Ventures, a Chinese accelerator-cum-venture capital firm, has collaborated with Shenzen stock exchange to organize India Logistics Startup Pitch Session on June 30, at Ibis Hotel, Golf Course, Gurgaon. The event, which is a part of the firm’s flagship programme Demo...
Ofo, a bicycle sharing company from China, which was slated to come to India by early next year has finally entered the Indian roads, to compete with Ola, Zoomcar and Yulu. The development was first reported by VCCircle. As per the...
The government of Delhi becomes the second state government after Gujarat set out to pass strict guidelines for cab aggregators like Ola and Uber. According to the rules in the draft, app-based cab aggregators have to get a license from...
Amazon has been challenging home-grown e-commerce companies on every aspect of the business. Besides its recent investment in seller service and wholesale unit, the company has infused Rs 130 crore into its payments entity, Amazon Pay India, according to...
San-Francisco based Uber has suffered a loss of $1.46 billion in the third quarter, according to the Bloomberg report. The company witnessed a rise of 11% in gross bookings, which reached $9.71 billion in the period that ended in September....
As Indian foodtech platforms are making headlines for their burgeoning monthly orders and raising huge sum from investors, UberEats, a food delivery app vertical of cab-hailing major Uber is rapidly growing in terms of the number of app downloads. According...
After signing up 90 million users in less than a year, Mukesh Ambani-led Reliance Jio is now eyeing to connect car makers on Indian road with the internet. According to a Factor Daily report, the telecom major is in...
Tech-enabled hospitality startup FabHotels raises $25 million in its series B round of funding led by Goldman Sachs Investment Partners. The Budget hotel aggregator also saw participation from Accel Partners and an existing investor. As per Mint report, the funds...
Jeff Bezos-led Amazon has claimed that it has left local rival Flipkart behind to become the leader in online retail space. The e-commerce behemoth claims to have 44 per cent customer share and 42 per cent order share on an...
After being alleged for sexually harassing women at workplace, Dave McClure, 500 Startups co-founder, offered his resignation as General Partner at the firm he co-founded in 2010. The decision to step down came after several women alleged McClure of...
Healthcare focused fintech startup LetsMD has raised fresh funding from Ravi Garikipati, CTO & Head of Engineering of Flipkart and WaterBridge Ventures including a consortium of other HNIs syndicated by Singapore-based ThinKuvate and SRI Capital. While the exact investment...
Online furniture retailer Urban Ladder has clocked an operating revenue of Rs 42 crore in the fiscal year 2016-17, a 22 per cent growth from the previous fiscal, according to regulatory filings with the ministry of corporate affairs (MCA).  In...
Sachin Tendulkar co-owned gaming and entertainment startup Smaaash has raised $14 million in equity financing. The funds were syndicated by Avendus Wealth Management Pvt Ltd, the wealth management arm of financial services firm Avendus Capital. Last month, the sports-based entertainment...
The present scenario seems to be a vicious circle for the serial entrepreneur and investor Mahesh Murthy. After a series of allegations and FIR's as well as formal arrest by Mumbai police, the popular and maverick angel investor has...
Health-tech startup Click2Clinic has acquired Home Health Care, an agency which offers home health care services in Bengaluru, for approximately Rs 4 crore in an all-stock deal. Click2Clinic, which aggregates hospitals, clinics, diagnostics, pharmacy, ambulance services and allied health services, will...
Eyewear retailer Lenskart has invested Rs 3.3 crore in California-based startup ThinOptics that makes innovative reading glasses. This is the third overseas investment for the Delhi-based startup in last one year. The Peyush Bansal-led company has already announced to set...
Three years ago, I met an Ola driver. During the ride, being an inquisitive journalist, I began a conversation with him and started enquiring about “how he was holding up the new mobile-based business”. Amidst the pleasant conversation, the driver...
Four days after TRAI Chairman RS Sharma took Aadhaar challenge on Twitter and shared his 12-digit unique number, the Unique Identification Authority of India (UIDAI) in an advisory has asked people to refrain from publicly putting their Aadhaar numbers...
Singapore-based ride-hailing company Grab has obtained $700 million worth of debt facilities to expand its fleet of rental cars in the region. Grab intends to use the funds from global and regional banks to offer more attractive rental terms and services...
FITPASS, which provides access to gym and fitness studios across multiple location, has raised $1 million investment from Olympic gold medal winner Abhinav Bindra's venture fund Shooting Star and Franchise India Brands. The current investment is the fifth in an...
Visage Holdings and Finance, which owns and operates Non-Banking Finance Company (NBFC) Kinara Capital, has raised Rs 96 crore in a funding led by private equity firm Gaja Capital. According to a report by the Economics Times, the funding round...
Bengaluru-based SMEs-focused digital lending startup Capital Float, has raised Rs 293 crore in its series C round of funding led by Silicon Valley-based Ribbit Capital, along with participation from existing investors -- SAIF Partners, Sequoia India and Creation Investments. According...
Small Industries Development Bank of India (SIDBI) has decided to offer loans directly to SMEs at a low market rate. Such loans will be 300 basis points lower than what the banks usually offer. Unlike bank loans that are a...

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