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Rivigo raises $65 mn in Series E round led by Warburg Pincus, SAIF
short by Pragya Swastik / on 11 Jul 2019,Thursday
Gurugram-based logistics startup Rivigo has raised $65 million in its ongoing Series E round led by existing investors Warburg Pincus and SAIF Partners. Prior to this round, Rivigo raised $216.2 million from investors and the last tranche of $35.6 million of Series E round was at around $950-million valuation. Reports said Rivigo raised the funding at over $1-billion valuation.
short by Pragya Swastik / 02:39 pm on 11 Jul
Tiger Global to sell its 21% PolicyBazaar stake for $300M: Report
short by Kanishka Pandey / on 12 Jul 2019,Friday
American hedge fund Tiger Global is reportedly looking to sell its 21% stake in Gurugram-based insurance aggregator PolicyBazaar for $300 million at a $1.5-billion valuation. Softbank Vision Fund (SVF) and Chinese internet giant Tencent are reportedly among investors looking to buy the same. Tiger Global has reportedly invested about $60 million in PolicyBazaar's parent firm in past five years.
short by Kanishka Pandey / 04:55 pm on 12 Jul
TV show 'Startup ki Baat' to air on DD National every Sunday
short by Pragya Swastik / on 14 Jul 2019,Sunday
As a part of Startup India initiative, a new television show on startups, 'Startup ki Baat', will air on DD National every Sunday. Startups will share their entrepreneurial journey on the show once in a week. The development comes a week after Finance Minister Nirmala Sitharaman announced a dedicated TV programme for startups while presenting the Union Budget 2019.
short by Pragya Swastik / 03:04 pm on 14 Jul
Swiggy looking to raise $500 mn in funding round: Report
short by Pragya Swastik / on 15 Jul 2019,Monday
Food delivery app Swiggy is reportedly in talks with South Korean funds including Korea Investment Partners, Mirae Asset Management and others for a $500 million funding round. Swiggy's largest investor, South African internet giant Naspers, may reportedly lead the round. The round is said to value Swiggy at around $4 billion.
short by Pragya Swastik / 02:44 pm on 15 Jul
Casio sues Snapdeal over alleged sale of its fake products
short by Kanishka Pandey / on 13 Jul 2019,Saturday
Japanese consumer electronics giant Casio has sued Gurugram-based e-commerce startup Snapdeal and sellers on the platform over an alleged sale of its counterfeit products. The Tis Hazari court has restrained Snapdeal and the other accused parties from selling, displaying and advertising goods with the Casio trademark. "Casio has...extended its battle against the fakes on the internet," Casio said.
short by Kanishka Pandey / 09:30 am on 13 Jul
Virgin Orbit successfully performs its 1st rocket drop test
short by Kanishka Pandey / on 11 Jul 2019,Thursday
Billionaire Richard Branson's spaceflight firm Virgin Galactic's sister firm Virgin Orbit has successfully performed its first rocket drop test with a 70-foot dummy LauncherOne rocket. The test was performed using its Boeing 747-based launch aircraft, nicknamed "Cosmic Girl", from an altitude of 35,000 feet. CEO Dan Hart estimated the cost of a launch using LauncherOne to be about $10-15 million.
short by Kanishka Pandey / 04:48 pm on 11 Jul
PayU India Co-founder & MD Shailaz Nag quits after 8 years: Report
short by Kanishka Pandey / on 11 Jul 2019,Thursday
Shailaz Nag, the Co-founder and Managing Director of South African conglomerate Naspers-owned PayU's India arm has reportedly quit after eight years. The Harvard Business School alumnus is looking out for opportunities in the payments space, the report cited its sources as saying. This comes days after Managing director for PayU India's LazyPay Jitendra Gupta had also announced his departure.
short by Kanishka Pandey / 09:30 am on 11 Jul
VW to put $2.6 bn in Ford-backed self-driving startup Argo
short by Kanishka Pandey / on 13 Jul 2019,Saturday
German multinational automaker Volkswagen is investing $2.6 billion in capital and assets into Ford-backed self-driving startup Argo AI, at a valuation of over $7 billion, the startup revealed. The deal is part of a broader alliance between the German automaker and US-based Ford, which covers autonomous and electric vehicles. Ford had invested $1 billion in Argo AI two years ago.
short by Kanishka Pandey / 10:30 am on 13 Jul
Samsung’s VC arm debuts in India, puts $8.5 mn in 4 startups
short by Kanishka Pandey / on 11 Jul 2019,Thursday
Samsung Venture Investment Corporation (SVIC), the venture capital arm of South Korean technology giant Samsung, has invested around $8.5 million in total in its maiden investment in the Indian startup ecosystem. SVIC has acquired 20% stake in Mumbai system apps startup Indus OS. It has also backed Bengaluru's Gnani.ai and Silvan Innovation Labs and an undisclosed computer vision startup.
short by Kanishka Pandey / 11:00 am on 11 Jul
E-commerce solutions startup Ace Turtle raises ₹27cr: Report
short by Kanishka Pandey / on 13 Jul 2019,Saturday
Bengaluru-based e-commerce solutions startup Ace Turtle has reportedly raised ₹27 crore in a pre-Series B funding round from existing investor Vertex Ventures and a new private equity investor. Founded by Berry Singh and Nitin Chhabra, Ace Turtle provides end-to-end e-commerce solutions ranging from order processing to last-mile delivery. It has raised over ₹60 crore to date, as per Crunchbase.
short by Kanishka Pandey / 04:03 pm on 13 Jul
Yulu in talks to raise funds from Xiaomi arm, others: Report
short by Pragya Swastik / on 14 Jul 2019,Sunday
Bengaluru-based cycle sharing platform Yulu is reportedly in advanced talks to raise a Series A round of ₹100 crore ($15 million) from Chinese investors including Xiaomi's venture capital arm Shunwei Capital. Former InMobi Chief Business Officer Atul Satija is also expected to participate in the round. Yulu has reportedly already received commitments from its existing investors including Blume Ventures.
short by Pragya Swastik / 04:28 pm on 14 Jul
Pune-based agritech startup Ecozen raises Series A funding
short by Pragya Swastik / on 15 Jul 2019,Monday
Pune-based agritech startup Ecozen has raised an undisclosed amount of funding in Series A round from Hyderabad-based Caspian and the Hivos-Triodos Fund. Mumbai-based investment firm Omnivore, which originally invested in Ecozen in 2015, also participated in this round. Founded in 2010 by three IIT Kharagpur alumni, Ecozen provides renewable energy based solutions to increase farmer income.
short by Pragya Swastik / 02:33 pm on 15 Jul
Delhi HC bars Amazon, Flipkart from selling Amway products
short by Kanishka Pandey / on 11 Jul 2019,Thursday
The Delhi HC has passed an interim order to prevent e-commerce platforms including Amazon, Flipkart and Snapdeal from advertising, displaying or selling Amway products without the brand's consent. Platforms were accused of violation of the Direct Selling Guidelines, 2016 by offering unauthorised sale. Amazon responded to the claims saying it was only an intermediary and couldn't be held liable.
short by Kanishka Pandey / 10:00 am on 11 Jul
Zoomcar raises ₹78 crore from Trifecta Capital, others
short by Kanishka Pandey / on 11 Jul 2019,Thursday
Bengaluru-based self-drive car rental startup Zoomcar has raised nearly ₹78 crore in a mix of equity and debt funding from its US-headquartered parent firm and Trifecta Capital among others, Inc42 revealed. The startup has raised nearly ₹12 lakh in debt from Mahindra & Mahindra. Founded in 2012, Zoomcar has raised over $115 million to date, as per Crunchbase.
short by Kanishka Pandey / 03:40 pm on 11 Jul
Moglix raises $60 million co-led by Tiger Global, Sequoia
short by Kanishka Pandey / on 11 Jul 2019,Thursday
Asia-based B2B marketplace for industrial goods Moglix has raised $60 million in its Series D funding round led by Tiger Global Management and Sequoia Capital. The funding round also saw participation from a new investor, Hong Kong-based Composite Capital. Founded in 2015 by former Google executive Rahul Garg, Moglix procures and supplies industrial goods like safety tools and hardware.
short by Kanishka Pandey / 03:05 pm on 11 Jul
Satellite imagery startup Pixxel raises funding from growX, others
short by Pragya Swastik / on 14 Jul 2019,Sunday
Bengaluru-based early-stage spacetech startup Pixxel has raised an undisclosed pre-seed round of funding from growX ventures and angel investors such as Raju Reddy, Dileep Nath, Pawan Sarda and others. Pixxel was founded in late 2018 by Kshitij Khandelwal and Awais Ahmed, two undergraduates at BITS Pilani. Pixxel is building a constellation of nanosatellites for real-time satellite imagery.
short by Pragya Swastik / 05:22 pm on 14 Jul
India needs to create more 'agripreneurs': Anurag Thakur
short by Kanishka Pandey / on 14 Jul 2019,Sunday
The Minister of State for Finance Anurag Thakur has said the rural startup ecosystem needs to be strengthened to encourage rural startups by rural youth. "Agri-based e-commerce platforms, farm monitoring, linking with fintech will help youth become 'agripreneurs'," he added. Thakur was speaking at the National Bank For Agriculture & Rural Development's (NABARD) 38th Foundation Day's inauguration.
short by Kanishka Pandey / 10:00 am on 14 Jul
Mark Cuban, Serena Williams invest $3 mn in startup for new moms
short by Pragya Swastik / on 15 Jul 2019,Monday
Investor Mark Cuban and tennis star Serena Williams have invested $3 million in Mahmee, a US-based startup that delivers data-driven care coordination and personalised support to new mothers. It provides online group discussions with other moms, connection to medical service providers and support from trained maternity coaches. It was founded in 2014 by Melissa Hanna, Linda Hanna and Sunny Walia.
short by Pragya Swastik / 08:34 pm on 15 Jul
IIM alumni's startup Stanza Living to get ₹342 crore: Report
short by Kanishka Pandey / on 12 Jul 2019,Friday
New Delhi-based student housing startup Stanza Living has secured funding of about ₹342 crore in the first tranche of a larger funding round led by Falcon Edge, Livemint reported. The round reportedly saw participation from existing investors including Sequoia Capital, Matrix Partners and Accel. Stanza Living was founded in 2017 by IIM-Ahmedabad alumni Sandeep Dalmia and Anindya Dutta.
short by Kanishka Pandey / 06:12 pm on 12 Jul
No plans to form e-commerce regulatory authority: Piyush Goyal
short by Kanishka Pandey / on 12 Jul 2019,Friday
Commerce and Industry Minister Piyush Goyal has said the government is not considering any proposal to create an e-commerce regulatory authority to monitor and regulate e-commerce business in India. Measures to check malpractices by e-commerce firms including predatory prices and deep discounts are laid down in the Competition Act 2002, he said. He added it also checks anti-competitive agreements.
short by Kanishka Pandey / 03:39 pm on 12 Jul
Treebo fires 15% workforce after failing to raise funds: Report
short by Kanishka Pandey / on 11 Jul 2019,Thursday
Bengaluru-based budget hotel chain Treebo Hotels has reportedly fired over 120 employees, representing about 15% of its around 900-employee workforce, Entrackr reported citing over half a dozen sources including employees. "The firm has been trying to raise funds from quite some time," Entrackr's sources said, adding, "It looks like the fundraising plan is far from materialising."
short by Kanishka Pandey / 07:27 pm on 11 Jul
$73-million NASA contract to 3D print spacecraft parts in orbit
short by Kanishka Pandey / on 13 Jul 2019,Saturday
NASA has awarded an over $73-million contract to Silicon Valley-based startup Made In Space to demonstrate the ability of a small spacecraft, Archinaut One, to 3D print spacecraft components in low-Earth orbit. The spacecraft will print two beams extending 32 feet out from each side of the spacecraft, NASA said. It could launch as early as 2022, it added.
short by Kanishka Pandey / 06:34 pm on 13 Jul
CollegeDekho acquires overseas admission consulting firm SFS
short by Kanishka Pandey / on 12 Jul 2019,Friday
Gurugram-based edtech startup CollegeDekho has acquired New Delhi-based overseas admission consulting firm Scholarship Facilitation Services (SFS) for an undisclosed amount. Started in 2012 by Manik Kubba, Umesh Sharma and Vikaas Wahi, SFS offers need-based, budget and university-based admission counselling. CollegeDekho was founded by Ruchir Arora, Rohit Saha, Saurabh Jain and Rajiv Singh.
short by Kanishka Pandey / 07:33 pm on 12 Jul
FDI norms forcing Flipkart to scale down wholesale biz: Report
short by Kanishka Pandey / on 11 Jul 2019,Thursday
Flipkart is being forced to scale down its B2B wholesale business due to compliance with the revised FDI norms, which came into effect from February 1, as per a report. Flipkart has started curtailing or altogether stopped buying products directly from companies, the report said. It is also reportedly asking preferred sellers to buy merchandise directly from manufacturers.
short by Kanishka Pandey / 05:51 pm on 11 Jul
Mumbai robotics startup Emotix raises ₹19 cr led by Chiratae
short by Kanishka Pandey / on 12 Jul 2019,Friday
Mumbai-based robotics startup Emotix has raised nearly ₹19 crore in a seed round of funding led by Chiratae Ventures, as per regulatory filings. The funding saw participation from YourNest Venture Capital and Technology Venture Fund, Entrackr revealed. Incorporated in 2015 by IIT-Bombay alumni Chintan Raikar, Prashant Iyengar and Sneh Vaswani, Emotix had raised ₹13.7 crore in a pre-Series A round.
short by Kanishka Pandey / 11:00 am on 12 Jul
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