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China's Didi Chuxing raises $5.5B in world's largest funding
short by Pragya Swastik / on 28 Apr 2017,Friday
Uber rival Didi Chuxing has raised $5.5 billion in the world's largest single round of funding to date, valuing the startup at over $50 billion. Existing investors SoftBank Group and China Merchants Bank, and new investor Silver Lake Kraftwerk participated in the funding round. With this, Didi became Asia's most valued startup and the world's second-most valued startup after Uber.
short by Pragya Swastik / 05:11 pm on 28 Apr
Woman claims of second-degree burns from Fitbit explosion
short by Pragya Swastik / on 26 Apr 2017,Wednesday
A US woman has claimed suffering second-degree burns on her arm and wrist after a Fitbit Flex 2 fitness tracker she was wearing exploded and burst into flames. The woman said her doctor had to remove pieces of rubber and plastic out of her injured arm. Fitbit has said it is aware of the claim and is investigating the incident.
short by Pragya Swastik / 11:22 am on 26 Apr
Yahoo's early investment in Snapchat has quadrupled in 3 yrs
short by Pragya Swastik / on 25 Apr 2017,Tuesday
Search engine Yahoo's early investment of $25 million in photo messaging app Snapchat in 2014 has nearly quadrupled to $97.6 million, according to company filings. When Yahoo first bought its stake in Snapchat, it had used a portion of the cash earned from an earlier investment in Alibaba. Snapchat was founded in 2011 by a group of Stanford University students.
short by Pragya Swastik / 06:43 pm on 25 Apr
Uber plans to launch flying taxis by 2020
short by Pragya Swastik / on 26 Apr 2017,Wednesday
Ride-hailing startup Uber is planning to launch flying taxis by the year 2020, according to Uber's Chief Product Officer Jeff Holden. Uber will build take-off and landing pads called 'vertiports' and charging stations for the electrically powered flying taxis. To be first launched in Texas and Dubai, the flying taxis will cut a two-hour road travel time to 15 minutes.
short by Pragya Swastik / 12:13 pm on 26 Apr
SoftBank approves Snapdeal's merger with Flipkart: Report
short by Pragya Swastik / on 28 Apr 2017,Friday
Japan's SoftBank, the largest investor in Snapdeal, has given an in-principle, non-binding approval for the e-commerce startup's merger with rival Flipkart, according to a CNBC report. SoftBank has given an in-principle nod to hold 20% stake in the merged entity and has also approved a plan to buy out Snapdeal’s existing investors ahead of the potential merger, the report added.
short by Pragya Swastik / 06:27 pm on 28 Apr
Elon Musk's tunnel-digging startup's boring machine revealed
short by Pragya Swastik / on 28 Apr 2017,Friday
The tunnel-digging machine of Elon Musk's startup 'The Boring Company', which digs underground tunnels for vehicles to avoid traffic, has been revealed for the first time. The machine's picture, posted on Instagram by an employee of Musk's another startup SpaceX, was later removed. Earlier, Musk said he thought of the startup while he was stuck in traffic in Los Angeles.
short by Pragya Swastik / 12:51 pm on 28 Apr
Padmini Pagadala becomes Flipkart's CEO for a day
short by Pragya Swastik / on 25 Apr 2017,Tuesday
Flipkart on Tuesday announced that one of its employees who works as a designer at the e-commerce startup, Padmini Pagadala, will be its CEO for a day. Flipkart had organised a competition for its employees to become a day's CEO to mark its 10th anniversary. As 'CEO of the Day', Pagadala will attend key meetings alongside Flipkart CEO Kalyan Krishnamurthy.
short by Pragya Swastik / 05:37 pm on 25 Apr
Didi nears $5 bn funding to become 2nd most valuable startup
short by Pragya Swastik / on 27 Apr 2017,Thursday
Ride-hailing startup Uber's China-based rival, Didi Chuxing, is set to raise $5 billion in a deal that would make it the world's second most valuable startup after Uber, according to Bloomberg. The investors in this funding will reportedly be SoftBank Group and others. The round may close by this week and would lift Didi's valuation to about $50 billion.
short by Pragya Swastik / 12:05 pm on 27 Apr
Paytm to invest ₹10,000 crore in banking, financial services
short by Pragya Swastik / on 28 Apr 2017,Friday
Alibaba-backed Paytm has said it will invest ₹10,000 crore over the next three years to ramp up its banking and financial services business. Paytm claims to have already pumped in over ₹3,200 crore in the last two years for its operations. "We hope to get the final approval for our payments bank operations soon," said Paytm CEO Vijay Shekhar Sharma.
short by Pragya Swastik / 08:04 pm on 28 Apr
Startup makes ₹77,000 coffee table with fridge, speaker
short by Pragya Swastik / on 27 Apr 2017,Thursday
New York-based startup StoreBound has made a ₹77,000 coffee table called 'Sobro', that comes fitted with a refrigerating drawer, a Bluetooth speaker, and phone charging points. The refrigerating drawer can hold about 30 bottles or cans of drinks. The temperature of the drawer and the songs being played by the speaker can be controlled through a dedicated smartphone app.
short by Pragya Swastik / 06:59 pm on 27 Apr
TVF CEO Arunabh Kumar arrested, then released on bail
short by Pragya Swastik / on 26 Apr 2017,Wednesday
The Viral Fever (TVF's) CEO Arunabh Kumar, accused of molestation by multiple women, was recently arrested and later released on bail, according to reports. The police are now in the process of filing a chargesheet. Arunabh has been booked under Sections 354 and 509 of IPC, for outraging the modesty of a woman and molestation.
short by Pragya Swastik / 11:53 am on 26 Apr
Amazon unveils voice-controlled camera to give fashion tips
short by Vani Vivek / on 26 Apr 2017,Wednesday
E-commerce company Amazon has unveiled its camera called 'Echo Look' which can take full-length photos and provide fashion tips using artificial intelligence algorithms. The voice-controlled camera is powered by Amazon's digital assistant Alexa. Priced at ₹12,800, Echo Look can also create lookbooks, play music, or give traffic estimates while the user gets ready.
short by Vani Vivek / 09:09 pm on 26 Apr
Startup offers 8 jobs, ₹10cr to settle anti-Asian bias case
short by Vani Vivek / on 26 Apr 2017,Wednesday
US technology startup Palantir has agreed to pay over ₹10 crore in back wages and extend job offers to eight applicants to settle a lawsuit accusing it of racial discrimination against Asians. The lawsuit specifically focused on the company's hiring and selection processes for engineering roles. Earlier, Palantir CEO Alex Karp said, "I've f*cked up a lot but haven't discriminated."
short by Vani Vivek / 04:06 pm on 26 Apr
Swedish startup uses AI to find how dolphins communicate
short by Gaurav Shroff / on 28 Apr 2017,Friday
After mastering 40 human languages, Swedish startup Gavagai Ab is hoping to use its language analysis software to study communication methods employed by dolphins. Using the artificial intelligence data, researchers would compile a dolphin language directory. The four-year dolphin project will help the company sharpen its $10-million AI tool for other analytical tasks, said the startup's CEO.
short by Gaurav Shroff / 10:45 am on 28 Apr
Uber allowed to ask Google Co-founder 1 question in court
short by Vani Vivek / on 26 Apr 2017,Wednesday
A US court has allowed taxi-hailing startup Uber to ask Google Co-founder Larry Page a single question on whether he had a conversation with former employee Anthony Levandowski about joining Uber. This comes amid Google spinoff Waymo's lawsuit against Uber which accuses Levandowski of stealing confidential documents related to self-driving car technology and using them at Uber.
short by Vani Vivek / 02:33 pm on 26 Apr
Internet should be utility available to whole world: Jack Ma
short by Pragya Swastik / on 26 Apr 2017,Wednesday
China's e-commerce giant Alibaba's Founder, Jack Ma on Tuesday said the internet should be a utility available to the whole world. He added, "The internet should be treated as the infrastructure of global development". Ma further said, "Everything will be online and everything online will have data. And data will be the energy for innovation".
short by Pragya Swastik / 06:34 pm on 26 Apr
Co-working space startup Awfis gets ₹128 crore from Sequoia
short by Vani Vivek / on 26 Apr 2017,Wednesday
Delhi-based shared workspace startup Awfis has raised about ₹128 crore in a Series B round of funding from Sequoia India. Awfis, which opened its first facility in 2015, is a joint venture between Nelson India Founder Amit Ramani and The Three Sisters: Institutional Office, a family-run investment firm managed by Yes Bank Founder Rana Kapoor’s daughters.
short by Vani Vivek / 07:54 pm on 26 Apr
Grocery startup Grofers launches 15 offline stores: Report
short by Pragya Swastik / on 27 Apr 2017,Thursday
In a pilot project, Gurugram-based hyperlocal grocery delivery startup Grofers has reportedly set up 15 offline stores across Delhi-NCR. The company has opened two types of offline stores, small tuck shops and franchise stores. This comes after multiple reports claimed that online grocers BigBasket and Grofers were in talks for a potential merger.
short by Pragya Swastik / 03:57 pm on 27 Apr
Startup makes scented bottle to make water taste flavoured
short by Sanira Mediratta / on 26 Apr 2017,Wednesday
A US-based startup 'Flavour Bottle' has claimed to have built the world's first scented and flavoured water bottle which does not use added preservatives. As scientists state smell accounts for up to 80% of the sensation of taste, scent is added to make plain water taste flavoured. The bottle comes in five flavours including, strawberry, grape, and cola.
short by Sanira Mediratta / 04:47 pm on 26 Apr
PayPal applies for licence to launch mobile wallet in India
short by Pragya Swastik / on 27 Apr 2017,Thursday
American payments company PayPal is eyeing a Prepaid Payment Instrument (PPI) licence to launch a mobile wallet in India, according to reports. This comes after earlier reports of PayPal holding acquisition talks with FreeCharge and its interest to invest in Flipkart-owned payments app PhonePe, that fell through. Earlier this month, Amazon was granted licence to launch mobile wallet in India.
short by Pragya Swastik / 07:10 pm on 27 Apr
Passengers claim Tesla car trapped them inside after crash
short by Vani Vivek / on 25 Apr 2017,Tuesday
A Tesla Model X owner in China has claimed that the back doors of the car jammed and trapped the passengers inside after a crash, forcing them to crawl out the front door. The owner has demanded a payout of ₹7.5 crore from the automaker. However, Tesla denied compensation claiming that "lives of the owner and passengers were not threatened."
short by Vani Vivek / 08:35 pm on 25 Apr
Uber work culture, racism blamed for employee's suicide
short by Pragya Swastik / on 26 Apr 2017,Wednesday
The family of a 33-year-old Uber engineer who died by suicide has blamed the ride-hailing startup's workplace stress and racism for a decline in the deceased's mental health, that led to the suicide. The engineer had worked for only five months at Uber before committing suicide. "His personality changed totally..he was horribly concerned about his work," said the engineer's wife.
short by Pragya Swastik / 02:08 pm on 26 Apr
Bengaluru mobile gaming startup Mech Mocha raises ₹32 crore
short by Vani Vivek / on 27 Apr 2017,Thursday
Bengaluru-based mobile gaming startup Mech Mocha has raised ₹32 crore in Series A round of funding led by Accel partners and Shunwei Capital. Existing investor Blume Ventures also participated in the round. Mech Mocha was founded by IIIT Gwalior graduates Mohit Rangaraju, Arpita Kapoor, and Shilp Gupta.
short by Vani Vivek / 07:54 pm on 27 Apr
Paytm launches feature to digitally buy and sell gold
short by Vani Vivek / on 27 Apr 2017,Thursday
Digital payments startup Paytm has partnered with metal refinery MMTC-PAMP to launch a 'Digital Gold' feature to allow users to buy and sell gold digitally. Paytm claims users will be able to purchase 24K 999.9 Gold starting from ₹1. The gold can be home delivered in the form of minted coins or be stored in MMTC-PAMP's vaults.
short by Vani Vivek / 05:43 pm on 27 Apr
Hyperlocal delivery startup Scootsy raises ₹23 crore
short by Vani Vivek / on 27 Apr 2017,Thursday
Mumbai-based on-demand delivery startup Scootsy has raised ₹23 crore in a pre-Series A round of funding led by Agnus Capital and Khattar Holdings. Scootsy is a part of incubator firm Ant Farm and delivers products like fashion apparel, skin care, gifts, toys, and books. The startup also plans to launch a kitchen and distribution platform for brands.
short by Vani Vivek / 03:07 pm on 27 Apr
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