The NPCI-owned digital payments railroad UPI has recorded 524.94 million transactions in volume in November. This is the first time when the centralised payments interface has crossed 500 million milestone since its inception. The growth is however only 9 per...
This week 19 Indian startups received funding, of which 15 received a total sum of about $241 million. Among them, Drivezy raised the highest investment of about $120 million followed by UrbanClap, which raised $50 million in its Series...
Social media network Facebook is finding more ways to support and keep Indian publishers and creators on its platform. It has now introduced new monetisation tools like Ads Break and Brand Collabs Manager to offer an opportunity to earn for video...
Marketplace based home service major UrbanClap has raised $50 million Series D round led by  Steadview Capital and existing investor Vy Capital. The company is also facilitating a secondary sale of ESOPs and stocks worth approximately $4 million for...
The Delhi High Court has issued notices to entities, which are misusing Snapdeal brand name to run fraudulent schemes and sought answers from them in a month time. In the interim order, Justice JR Midha said that it was satisfied...
Income tax department of India, last month sent notices to Sachin and Binny Bansal, co-founders of Flipkart, and 35 other stakeholders who made capital gains via Flipkart-Walmart deal. After sending these notices to Indian stakeholders, and starting to receive responses...
Looking at a huge potential in electric vehicles business, media baron and Rajya Sabha MP Dr. Subhash Chandra is now planning to step into EV ecosystem and become an end-to-end service provider. Chandra-owned Essel Infraprojects is in talks for acquisition...
Fullstack foodtech platform FreshMenu has revealed its financial figures for FY18 via RoC filings with MCA. The revenue of the firm grew by 62.7 per cent from Rs 76.04 crore to Rs 123.72 crore in FY18. Sale of products contributed...
Mukesh Ambani-led Reliance Jio with over 5 per cent monthly growth rate came out as single telecom player to add customers in the month of September. Jio added over 1.30 crore mobile subscribers this month, taking its total customer...
Danish Amhed--co-founder of fashion e-commerce platform Yebhi and Ex-VP at Paytm has floated his new venture in the field of medical tourism. In his new startup called Hospals, Danish will have two other co-founders--Obaid and Alok. Obaid and Alok have...
It’s very rare that a large VC firm ends up raising half of its previous corpus. Such instances only happen when existing limited partners (LPs) back out and the VC firm is unable to convince fresh LPs for the...
HR Tech startup Hush--founded by former Yahoo employees Ashutosh Dabral and Umesh Joshi, has raised Rs 4.5 crore in a fresh round of funding. Accel Partners and Shamik Sharma, Business Head at Curefit participated in the round. Following the deal,...
2017-18 is the period when employees with stock options have been truly benefitting out of the several secondary exits that have taken place in the entire ecosystem. Looking at the same, budget hotel chain OYO’s board has permitted the company...
Social commerce platform Shop101 is in advance talks to raise $10-12 million round from new investors Kalaari Capital and Unilever Ventures. The startup's existing investors Stellaris Venture Partners and Vy Capital, will also participate in the upcoming round on a...
Mobile-based marketing and customer rewards app Crownit - has revealed its financial reports for FY18, and the numbers are interesting. The total revenue earned by the company in FY18 saw a 2.3 per cent decrease, from Rs 5.79 crore...
Car and Bike rental marketplace Drivezy has scooped up $20 million Series B round in equity financing led by existing investor Das Capital. The funding round also saw a participation of Yamaha Motor, Axan Partners and IT-Farm.  The peer-to-peer rental...
With Sachin Bansal looking to play his second entrepreneurial innings in fintech; Fosun, Matrix, IDG, all admitting the desire to invest in fintech; new startups launching in the space almost every month; it can certainly be discerned that fintech...
Jeff Bezos-led Amazon has become the largest online retailer in India. Seattle-based e-commerce marketplace has beaten local online retailer Flipkart in gross sales, according to a Barclays report. Amazon generated around $7.5 billion in gross sales in comparison to $6.2 billion...
SaaS-based security management startup CloudSEK has raised Rs 14 crore in its Pre-Series A round led by Exfinity Venture Partners and StartupXseed. Headquartered in Singapore and operations in Bengaluru, CloudSEK will use the fresh capital to expand its footprint in India and South East Asia. As of...
On the face of it, Paytm extortion was made to look like an open and shut case. A billionaire was being blackmailed for his personal data theft, and the police caught the key perpetrators and arrested them. Right? Not...
The Swedish music streaming giant Spotify will soon be launching its services in India. As part of its launch in 13 new markets in the Middle East and North Africa, the music streaming platform plans to offer services in India...
Chinese dockless bike sharing company Ofo, that shut down its India operation after a short stint, has finally found a bidder as its assets have been acquired by Bounce, a Bengaluru-based scooter sharing startup. The Sequoia-backed startup has taken over...
Ever since his unceremonious exit from Flipkart post the Walmart deal in May, there have been several narratives around how Sachin Bansal is going to make a fresh re-entry into the entrepreneurial world. The latest report says that the co-founder...
Social commerce startup Meesho, which has recently raised $50 million Series C round, has revealed its financial performance in the fiscal year ended on March 31, 2018. The Vivek Aatrey led company clocked Rs 6.01 crore in revenue in FY18,...
Adding to the list of growing number of high profile Facebook executives to leave this year, Neeraj Arora, WhatsApp's chief business officer, has announced his departure after seven years with the company. Arora has been with WhatsApp from 2011 and...
Healthtech startup Niramai has raised about $6-7 million in a fresh round from Pi Ventures, Axilor, Ankur Capital and Flipkart co-founder Binny Bansal. All had infused an undisclosed seed fund in the Bengaluru-based startup in April, last year. The development is yet...
An Aadhaar number holder can lock his biometrics but may not opt out it as suggested by the Supreme Court, according to a latest response by the UIDAI. The Authority may enable Aadhaar holder to permanently lock his biometrics or...
Rooftop solar startup Freyr Energy has raised Rs 27 Cr in Series A round led by Netherland-based C4D Partners. The firm had earlier raised undisclosed seed capital Doen-Participaties, another Dutch-based investment company. The Hyderabad-headquartered startup will use the fresh funds (primarily a...
Verloop, a SaaS-based automated customer support, and engagement platform has raised $3 million in its Series A round of funding led by IDFC Parampara Fund. The Bengaluru-based startup also saw participation from Infosys' Kris Gopalakrishnan and Manipal Education and Medical Group's Ranjan...
SoftBank has always been positive about India being its largest potential market and now it is aggressively enhancing its focus in the country. The Japanese investment giant last week had appointed Sumer Juneja to lead the investments into the country....
DocTalk, an application that had been created to ease out the communication procedure between doctors and patients, is headed towards a pivot with no CEO and 100 fewer employees. The app has been on the leg to change from its...
Vishal Gondal-led smart wearable device maker GOQii has raised around $30-35 million in a fresh funding round led by Japan's Mitsui & Co. New investors Galaxy Digital and Denlow Investment Trust also participated in the round along with a long...
Peer to peer lending and credit marketplace Lendbox has secured pre-Series A round from IvyCap Ventures. Following the investment IvyCap's Vice President Akanksha Sharma will join the Delhi-based startup's board. The investment round is kept undisclosed, however, Entrackr's sources indicate...
Online automobile classifieds major CarDekho has acquihired Carbiqi. The deal consists of stock was signed a couple of weeks ago and Carbiqi team is joining CarDekho’s used car vertical in Gurugram soon - as per two sources privy with...
The National Payments Corporation of India (NPCI) has suspended eSign-based electronic mandate, used in a paperless automated collection of loan payments from customers, for digital lenders. According to the circular from NPCI, the eSign-based eMandate product would be suspended from...
This week 14 Indian startups received funding, of which 12 received a total sum of about $103 million. Among them, Incred raised the highest investment of about $42 million followed by Magicpin, which raised $20 million. Meanwhile, funding for 2...
E-commerce and hyperlocal focused B2B logistics platform Shadowfax has filed improved financial with over 2X growth in revenue and squeezing losses. The company reported Rs 76.3 crore revenue in FY18 from Rs 31.7 crore in the preceding fiscal. The Nokia...
Online tutoring startup Vedantu has raised $11 million in its Series B round of funding led by Omidyar Network. The Bengaluru-based startup also saw the participation of its existing investor Accel Partners in the round. The fresh capital comes after...
Online shoppers in India rose to around 24 million in festive season this year, according to a Red Seer report Festive Sale Month Performance. The festive season saw mobile phone and electronics as top categories contributing to almost 80...
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...
Bengaluru-based local language social networking app ShareChat has been fast emerging as the go-to app for regional political parties looking to woo local voters. Regional policial parties, especially in southern states, like YSR Congress, Jana Sena Party, CPI (M) and...
Local discovery, rewards, and commerce platform Magicpin has raised $20 million in a fresh round of funding led by Lightspeed Venture Partners US. Existing investors Lightspeed India Partners and WaterBridge Ventures also participated in it. Following the investment, Partners of Lightspeed US...
Google has rolled out its hyperlocal social network app Neighbourly in Delhi and Bengaluru. The real-time app allows users to share experience and crucial info with other people in the neighbourhood. The users will get automatic suggestions about the nearest neighbourhood,...
The latest reported curveball in the Flipkart game is notices served to the founders Sachin and Binny Bansal by the Income Tax department asking them to divulge the information regarding total income and capital gains they made through the...
India’s aspiring Craigslist, Quikr, which hasn’t been performing up to the mark in past few years, at least with regards to financial health, has finally revealed its figures for FY18. The consolidated operational revenue of the firm saw a 95.6...
InCred a consumer and small and medium enterprises (SMEs) focussed digital lending app has performed brilliantly in the latest reported financial year ending March 2018. As per the company’s RoC filings with MCA, consolidated revenue earned in FY18 stood at...
To tap an unexplored digital insurance market and become a full stacked financial service provider in India, digital payments firm MobiKwik has launched digital insurance on its app. The company is selling insurance at Rs 20 per year which gives a...
After a long wait and pressure from the Indian government, WhatsApp has finally appointed Abhijit Bose as India Head. Bose is the co-founder and CEO of Ezetap, an enterprise payments solutions firm. The development comes within a month when the...
UPI has been disrupting the digital payments landscape in India and it can be gauged from the fact that the NPCI-owned payments railroad had carried out  482.36 million transactions worth Rs 74,978.27 in October 2018. Leveraging UPI, several payments...
Masayoshi Son led Softbank has finally chosen a name to fulfill their vacant role of India's head after searching for over three years. The Japanese investment behemoth has appointed Sumer Juneja to lead the investments into one its most...

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