• Omnichannel platform provider Ace Turtle raises venture debt from InnoVen September 22, 2017 5:28 am
    Funds raised would be used for expanding operations outside India into Southeast Asia
  • NCLT orders insolvency of Stayzilla in payment default case September 18, 2017 1:28 pm
    Vendor Jigsaw accused the online accommodation aggregator of defaulting on payment of Rs 1.69 cr
  • Here comes the other Son for India's start-ups September 14, 2017 8:51 pm
    Taizo Son's Gastrotrope aims to introduce tech in the agri sector
  • Angel, seed stage deals down 40% September 13, 2017 6:55 pm
    Angel investors don't see exits on the horizon as funding in the next stages is not as robust as it used to be
  • Fintech start-ups, traditional players join hands to target millennials September 9, 2017 5:16 pm
    India's digital drive coupled with increasing smartphone penetration and data usage has created a huge market for fintech startups which are targeting young salaried professionals. Traditional financial services providers are partnering with these startups to jointly address business opportunities from these digital first customers. These partnerships are being expedited as there's a feeling among majority of incumbent players of being left behind by technologically savvy startups. "Fintech is going to get much bigger than what it is with UPI, demonetization and smartphone usage driving digital money adoption. Payment and lending space will see lot of action due to a huge unbanked population here," said Vidhya Shankar, Executive director Grant Thornton LLP. "Banks and NBFCs need to come on board as strategic investors to capitalize this trend because while the startups have revolutionary algorithms, they still need data to fine tune it." Shankar further states that consumers are ...
  • August sees 2nd highest VC investments in a month in 2017 at $440 mn September 8, 2017 9:07 am
    The Venture Capital investments during the month of August has seen 34 deals worth around $440 million, making it the second highest investment in a month during 2017. The VC investments in August has seen a growth of 140 per cent in terms of value, compared to $180 million investment during the month of July, this year. However, the VC investments during the month was lower by four per cent compared to the investment of $458 million in 37 deals during August, last year.The growth during the month compared to the previous month was led by growth capital while angel investments are still in a sluggish phase, according to data from Venture Intelligence, a research firm focused on private company financials, transactions and their valuations. August also arrested the two-month slide in deal activity which began in June, it said."The increase in value of investments in August was on the back of investors predominantly focusing on new rounds for existing portfolio companies - especially ...
  • OYO raises $250 mn in fresh round of funding led by SoftBank September 7, 2017 11:15 am
    The firm plans to use the funds to expand its presence in India and Southeast Asia
  • CreditVidya raises $5 mn in Series-B from Matrix, Kalaari September 6, 2017 7:30 pm
    CreditVidya helps lenders accurately assess risk of lending to new-to-credit
  • Lendingkart raises Rs 70 crore from Sistema Asia fund and others September 6, 2017 7:28 pm
    With this fresh funding, the firm has raised total funding of Rs 534 crore
  • IFC invests $10 million in Power2SME September 5, 2017 11:20 am
    IFC, a member of the World Bank Group, has invested$10 million as equity in Power2SME, an ecommerce platform that helps small and medium companies buy raw materials at bulk prices and get working capital without collateral.In addition to the investment, IFC will also advise Power2SME to help it expand beyond its current 14 states, improve its ability to provide working capital to SMEs by adding more banks as partners, and increase the number of users on its platforms by up to 10 times in five years.Power2SME is backed by venture capital firms such as Kalaari Capital, Accel Partners, and Inventus Capital. Nandan Nilekani joined it as a strategic advisor through his investment in late 2015. "IFC's extensive experience in supporting the SME sector through financing and deep networks with banks and financial institutions will help us in our vision to make SMEs bankable," said R Narayan, Founder and CEO, Power2SME. Micro, small and medium enterprises form a large part of the Indian ...
  • FinTech startup Datasigns Technologies raises $1.5 mn for Shubh Loans September 5, 2017 8:32 am
    SRI Capital, Beenext and Pravega to provide funds for the online lending platform
  • Baidu, Tiger and now Alibaba: Zomato's quest for funds continues September 5, 2017 5:42 am
    With Foodpanda securing as much as $451 mn, Zomato is hunting for funds to expand its operations
  • Zone Startups to promote entrepreneurship among women September 4, 2017 4:55 pm
    Zone Startups has joined organisations such GraceHopper India and IIT Delhi to promote women entrepreneurs in technology build new ventures.The India arm of the Toronto based tech accelerator has roped in Microsoft, Department of Science and Technology, Tata Trust's Social Alpha, Cherie Blaire foundation, ICICI Bank and Amazon for its accelerator to promote women entrepreneurs building technology-enabled ventures."Women entrepreneurs had a lot of question marks regarding funding, risk involved, networking etc. We did a lot of research to figure out areas where empoWer needs to focus (in terms of specific requirements of female entrepreneurs). Fifteen startups is a good number to work with in terms of manageability," said Ajay Ramasubramaniam - Director (India), Zone Startups. The event will encompass road shows across Bangalore, Pune, Hyderabad, Gurgaon, Ahmedabad apart from Mumbai to gather applications. Besides, the six week long accelerator program, empoWer now comprises of a ...
  • Kings Learning raises $2.5 mn from Dell Foundation, others August 31, 2017 5:25 pm
    Enguru, Kings Learning's spoken English app, allows users to learn English in 28 languages
  • Karnataka shortlists 100 innovative start-ups, to give Rs 35 cr in funding August 30, 2017 8:05 pm
    Karnataka has picked 100 of the most innovative startups across sectors such as IoT, IT, Agriculture and Biotechnology in the state to handhold them to reach the next stage by giving access to mentors, incubators and Venture Capital investors.Through its Elevate 100 Startups programme, the state will also invest a total of Rs 35 crore into these companies, based on the recommendations of an expert panel. The investments will be made in the form of grants as well as equity investments through Karnataka's BioTech and IT funds."We are the first state in the country to look for innovations in every nook and corner of the state. Of the 1700 applications, what is encouraging is that close to around 400 starutps were from rural areas and more than 350 were from women entrepreneurs," said Priyank Kharge, Karnataka's minister for Information Technology and Biotechnology.The competition which started over two months ago, saw over 1,700 entries from across the state and concluded on Wednesday ...
  • FDI policy mentions start-ups for 1st time; AI may remain in domestic hands August 28, 2017 7:46 pm
    In a further boost to the startup ecosystem in the country, the consolidated Foreign Direct Investment (FDI) policy, released by the government on Monday mentioned start-ups for the first time.It also effectively squashed chances of Air India being sold to a foreign carrier by saying that the rule allowing foreign airlines to own up to 49 per cent in Indian carriers do not apply to Air India.Effective immediately, the updated version of the consolidated policy simply lists out all changes in rules and guidelines regarding FDI that have been effect since the last policy was released by the government back in June, last year.Start-ups can issue equity or equity linked instruments or debt instruments to Foreign Venture Capital Investors against receipt of foreign remittance, in accordance with FEMA Regulation, the policy said.Moreover, start-ups can issue convertible notes to person residing outside India under certain conditions. The policy also stated that convertible notes to ...
  • Health and wellness startup CureFit raises $25 mn in fresh funding August 28, 2017 12:10 pm
    CureFit said it will utilise the fresh capital to expand its service to more cities in India
  • Mobikon raises $7 mn from Sistema Asia Fund, C31 Ventures, Qualgro & others August 28, 2017 9:27 am
    Mobikon, a marketing and customer engagement platform for the restaurant industry, has raised $7 million in Series B funding from a three-member investor consortium, Sistema Asia Fund the proprietary fund of Russia's largest conglomerate Sistema JSFC, Singapore-based C31 Ventures and Qualgro. The existing investors Jungle Ventures and Spring Singapore has also participated in the round.Mobikon is planning to utilise the latest round of funding to scale up its business in India, South East Asia and Middle East. The company also plans to penetrate deeper into existing markets and build the next level of leadership team in India, United Arab Emirates (UAE), Philippines, Singapore and new markets like United Kingdom (UK) and Australia in the next 12-18 months. The Series A funding for the company was around $5 million from Jungle Ventures, Life.Sreda, Qualgro, Spring Singapore, and Lion Rock, in 2015. It had raised a seed funding in 2012, the year when it was launched. With the latest ...
  • Data protection firm Druva raises $80 million in fresh funding August 22, 2017 8:25 pm
    Druva's growth is fuelled by expansion of data protection market, estimated to be $28 bn in 2022
  • Quantta - a start up that is spilling secrets to Starbucks, McDonald's August 21, 2017 6:52 am
    Quantta is now setting up Quantta Labs in Silicon Valley as well
  • India's top five cities by start-up deals August 20, 2017 7:30 pm
    Bengaluru justified its position as India's start-up hub, but only barely
  • iSPIRT to tap ideas from startups to build services for underserved Indians August 19, 2017 6:45 pm
    iSPIRT, the volunteer organisation behind India Stack, is looking to tap disruptive ideas from startups in smaller towns to build services for the underserved population in areas such as financial inclusion, health care, and education.So far, India Stack which promotes a paperless, cashless and consent-based digital economy, has only been adopted by large enterprises such as governments, telecom and banking providers. Moreover, these players merely use the services of India Stack as enablers rather than innovating around them."The key thing we're looking for is innovative solutions from the small guys and that's the focus of this competition. The big guys are adopting many parts of the India Stack, because it serves their needs," said Sanjay Jain, Chief Innovation Officer, Centre for Innovation Incubation and Entrepreneurship at IIM Ahmedabad.To this end, iSPIRT is organising a competition to find the most disruptive users of the India Stack among early stage startups, with the lure ..
  • India to become among attractive destinations for start-ups: Minister August 18, 2017 10:27 am
    Entrepreneurship potential of Indian youth is now being realised: Minister
  • PM Narendra Modi calls start-ups to join in governance August 17, 2017 8:45 pm
    In the quest for new ideas to reignite its flagship campaigns such as Digital India, Prime Minister Narendra Modi, his entire cabinet, senior bureaucracy, on Thursday looked for help from 212 startup founders, in a rebooted version of last year's Start-Up India Stand Up India. In a 50 minute long speech at the 'Champions Of Change' event, organised by Niti Aayog, Modi charted out his plans for the startup ecosystem in India as well as, asked young entrepreneurs for more active partnership in governance. A far cry from last year January's Start-Up India Stand Up India, when everyone from SoftBank Group's Masayoshi Son, Uber's Travis Kalanick, WeWork co-founder and CEO Adam Neumann were invited for an event with a thousand plus guest list, 'Champions Of Change' was a more pointed, subdued and mission oriented event, startup founders said.Letting go of the frills, pomp and show, government officials said that starting from the cabinet ministers, senior bureaucrats, all had lengthy ...
  • Govt to uproot corruption, ease common man's life: Modi to startup CEOs August 17, 2017 2:06 pm
    Asking for their support for a New India, he promised to end role of middlemen
  • TVS Motor acquires 24% stake in online marketplace RentOnGo August 15, 2017 10:21 am
    TVS Motor Company Ltd has acquired a 24 per cent stake in RentOnGo, an online marketplace for renting bikes. The two-wheeler and three-wheeler maker invested Rs 1.5 crore in the Bengalaru-based start-up.While TVS Motor did not respond to Business Standard's query, in a filing the company said that the investment is from the futuristic outlook on the emerging pay-by service model.The investment was made in Condivision Solutions Pvt. Ltd, which operates RentOnGo. The company was founded in 2012 by Nikhil Chhabra and Vikash Jalan.Condivision turnover in 2016-17 was Rs 31 lakh as compared to Rs 15 lakh in 2015-16 and Rs 3 lakh in 2015.It currently has presence in Bengaluru, New Delhi, Hyderabad, Mumbai and Pune,according to the company website.In December 2015, RentOnGo raised an undisclosed amount in angel funding from Snapdeal's former chief product officer Anand Chandrasekaran, GSF India founder Rajesh Sawhney, Kalpana Tatavarti (partner, Interweave Consulting), Shivanandan Pare ...
  • Hyderabad start-up Fivifi India offers paperless credit-line August 13, 2017 1:12 pm
    Start-up is self-funded, but it is looking to raise Rs 100 cr towards lending capital and operations
  • Hike Messenger acquires Bengaluru-based tech start-up Creo August 11, 2017 1:25 pm
    Hike was launched in Dec 2012, acquired a user base of over 100 million as of January 2016
  • Avendus launches structured credit fund August 4, 2017 7:35 pm
    AvendusFinance, the credit solutions arm of Avendus Capital, today announced thelaunch of its Category II structured credit fund. The alternative investmentfund will target a corpus of Rs 250 crore and will retain any oversubscription ofup to Rs 250 crore.Investors will need to commit a minimum of Rs 1 crore into the fund, which willtarget the mid-market firms. The fund will invest in structured credit productsof holding and operating companies yielding mid- teens returns, which mayinclude equity upside. The fund will invest across industrials, healthcare and consumer, but stay awayfrom infrastructure. "The fund will co-invest with Avendus Finance. The NBFCwill have a minimum 20 per cent share in every transaction,'' says SandeepThapliyal, managing director & CEO - Avendus Finance, who will manage thefund with colleague Nilesh Dedhi. "With this new fund, we are confident to strengthen our footprint in the alternativeinvestment space. Structured credit is today well acknowledged .
  • Digital India: iSpirt, Dalberg launch contest to build apps on India Stack August 3, 2017 3:20 pm
    India Stack uses Aadhaar as a base for verification of an individual and delivers a set of services
  • Not rich enough to buy a shop? Co-own one for a song; but there are risks August 3, 2017 1:03 pm
    Pune-based Startup RealX does country's first digital fractional ownership deal in real estate space
  • PlasmaGen BioSciences raises $25 mn from Eight Roads Ventures, F-Prime August 2, 2017 11:51 am
    The biopharmaceutical company specialises in blood plasma derived products
  • Our app lets African students access classroom notes in India: Manak Gulati August 2, 2017 11:51 am
    Interview with founder and chief executive officer of Notesgen
  • Research start-up Aodh Lifesciences gets tax holiday, looks to raise $ 1 mn August 2, 2017 6:40 am
    The company claims to have invented oxygen nano-bubbles to deliver intravenous oxygen
  • Ebix commits $100 million more to grow ItzCash July 26, 2017 8:30 pm
    Earlier in May, Ebix had picked up about 80 per cent stake in ItzCash for about $120 million