Friday, March 29

Author: Aditya

KKR Backed Emerald Media Invests $50mn in Video Platform YuppTV
FUNDING

KKR Backed Emerald Media Invests $50mn in Video Platform YuppTV

Emerald Media, a Pan-Asian platform established by leading global investment firm KKR for investing in the media and entertainment sector today announced that it has acquired a significant minority stake in YuppTV for US$50mn. YuppTV is one of the world’s leading over-the-top (OTT) video platforms for South Asian content offering live TV, catch-up TV and movies on-demand in 14 languages across the globe. The growth capital will help company to further its global footprint, expand its content library through original productions and acquisitions, and rapidly grow its paid subscriber base. Headquartered in Atlanta, Georgia, YuppTV is a leading Internet Pay TV platform for South Asians, reaching more than 400 million households across the world. It also have more than 5 million monthly ...
InnoVen Capital Invests $20 Million in 15 Deals
BUSINESS

InnoVen Capital Invests $20 Million in 15 Deals

ANI- Asia's leading venture debt and specialty lending business InnoVen Capital has announced deals funded in the second quarter for FY17. The company has provided venture debt worth over $20 million in 15 deals across new clients on-boarded and existing portfolio companies that have exhibited strong performance. Among the new clients that InnoVen Capital has added to its growing portfolio are: OYO Rooms - Indian hotel brand that owns and operates as well as aggregates standardized hotel rooms, RAW Pressery - fresh cold pressed juices, and Rentomojo - online furniture rental platform. Between July and September this year, InnoVen as a platform has also closed its first two cross-border deals with Capillary Technologies and Simplilearn, in order to cater to their global aspirations an...
Kishore Biyani Led Future Group Launches It’s Own Digital Wallet FuturePay
News

Kishore Biyani Led Future Group Launches It’s Own Digital Wallet FuturePay

Kishore Biyani-led Future Group has launched FuturePay, which is a digital loyalty wallet that helps consumers shop without card or cash across formats such as Big Bazaar, Ezone and Home Town. The app is directly linked with all existing loyalty programs and cards bringing all kinds of transactions under one roof. "We are providing a friendly account management to our customers through FuturePay. We are ensuring that the customer has the confidence to shop with us and not go anywhere else," said Kishore Biyani, Group CEO, Future Group. The app's Price Match feature will compare the price items on the customers bill with that of competitors -both online as well as offline -and credit the difference to the FuturePay wallet in case it finds a lower price for the product. Future Group...
Google Launches Digital Voice Assistant, Expecting to Ship Nearly 3 Million Devices in 2017
News

Google Launches Digital Voice Assistant, Expecting to Ship Nearly 3 Million Devices in 2017

On Tuesday, Google announced Google Home, its always-listening digital voice assistant device and competitor to Amazon Echo, helping to expand the market for digital voice assistant devices. Strategy Analytics' research indicates that the digital voice assistant device category is one that will grow quickly, with annual shipments totaling 15.1M units by 2020, up from 1.8M units in 2016. At retail, Google Home is expected to sell for $129, which is $50 less than the Amazon Echo. However, Amazon is also offering a pared down version of Echo, the Echo Dot, in packs of six for $250. The low price point is meant to drive adoption by making it affordable for users to put an Alexa device in every room of the house. At such low prices, it's unlikely that either company will turn a profit ...
Ratan Tata Backed Moglix Raises Rs. 28 Crore From Accel Partners, Jungle Ventures and SeedPlus
FUNDING

Ratan Tata Backed Moglix Raises Rs. 28 Crore From Accel Partners, Jungle Ventures and SeedPlus

Leading B2B e-commerce company Moglix specializing in procurement of industrial products has announced that it has raised Rs. 28 crore in Series A round of funding led by Accel Partners with participation from Jungle Ventures and SeedPlus. Founded in August 2015, Moglix is focused on technologically disrupting the B2B Industrial products space for suppliers and buyers across the globe. Moglix has raised Pre-Series A funding from Accel Partners and Jungle Ventures in October 2015 and an undisclosed financial investment in the company by Ratan Tata in February 2016. Moglix caters to over 20,000+ SME buyers and 100+ large manufacturing houses through their platform. The funds will be deployed to expand operational footprint across major industrial hubs, increase the SME customer base by...
Kiran Mazumdar Shaw Invested in Two Cancer Startups
FUNDING

Kiran Mazumdar Shaw Invested in Two Cancer Startups

As per the report, Kiran Mazumdar Shaw, founder of Biocon invested in two cancer curated startups. She invested $1.6 million (around Rs 11 crore) in Philadelphia and Mumbai-based UE Lifesciences. UE Lifesciences, founded by Indian American entrepreneur Mihir Shah in 2015, earlier raised $3 million from Aarin Capital and received a grant of Rs 50 lakh from Unitus Seed Fund. Its develop an affordable breast cancer screening device. “Cancer therapy is not one-size-fits-all, if you stratify them based on genomics, among other things. So you can tailor-make therapy, which are less harsh and for that early detection is very important.”, Kiran said. Her bet on UE’s iBreastExam device is based on the uncomfortable experience women face with mammograms. But Shaw calls UE’s scans “intellige...
Travel Website Musafir.com Ties Up With Amazon Ahead of the Festive Season
BUSINESS

Travel Website Musafir.com Ties Up With Amazon Ahead of the Festive Season

Musafir.com, one of India's fastest-growing travel websites has tied up with Amazon India in a unique marketing campaign, this festival season. The company will offer 200 lucky winners, who shop at 'Amazon Great Indian Festival', an all-expense paid couples' trip to Dubai for three nights and four days. "The festive season is all about giving, sharing and experiencing. We are extremely excited to announce our festive association with Amazon India. This unique partnership featuring one of the biggest online sales in the country with one of the biggest holiday giveaways in the history of Indian retail, is our way of wishing everyone a happy festive season and a prosperous year ahead," said Ms. Giya Diwaan, CEO, Musafir.com. Musafir.com is dedicated towards providing an inspiring and premiu...
Brigade Group Signs MoU With Rental Solutions Provider NestAway
BUSINESS

Brigade Group Signs MoU With Rental Solutions Provider NestAway

Leading real estate player Brigade Group signed a Memorandum of Understanding (MoU) with NestAway, a premier rental solutions provider today to become the first builder in India to address the commonly-faced rental concerns of its customers on exclusive basis. Through this collaboration, Brigade Group will offer comprehensive rental assistance to all of its existing customers as well as over 10,000 apartments in different stages of construction that are currently in the process of being readied for handover, across our projects. Brigade customers will now be able to avail of a rental default guarantee that assures them timely rent. NestAway is India's largest 'managed home rental marketplace' backed by stalwarts in the industry such as the legendary Mr. Ratan Tata, Tiger Global, DST ...
Google Launches Its own Messaging App Allo
News

Google Launches Its own Messaging App Allo

Search engine giant Google has launched its AI based messaging app Allo, which would compete with the likes of WhatsApp and Facebook Messenger. Available for both Android and iOS platforms, Allo will also mark the debut of Google Assistant in a preview edition. "Whether it is planning a night out or just catching up, we rely on messaging to stay in touch with friends and family every day. But too often we have to hit pause on our conversation ? whether it is to check the status of a flight or look up that new restaurant. So we created Allo, a messaging app that helps you keep your conversation going, by providing assistance when you need it," Google Group Product Manager Amit Fulay said. Powered with artificial intelligence, Allo packs in features including smart reply, options for sh...
IIT Guwahati Gets State-of-The-Art Supercomputer “Param-Ishan”
INDIA

IIT Guwahati Gets State-of-The-Art Supercomputer “Param-Ishan”

A state-of-the-art supercomputer, Param-Ishan, was today unveiled in IIT Guwahati by HRD minister Prakash Javadekar, as the government looks to give a push to research and innovation in Indian institutions. "It is a one of the glad moments to have the fastest and most powerful computer in northeastern, eastern and southern regions," Javadekar said after the launch. Calling IITs "modern temples for development", Javadekar said a nations potential for growth is evaluated on the quality of its research and development. Several technology areas will be positively affected through the introduction of the new supercomputer, he said. Officials said several institutions in the country will get supercomputers in the near future to boost innovation and research. "While some institutions ...
PayU Acquires Indian Payments Technology Citrus Pay For $130 Million
ACQUISITION

PayU Acquires Indian Payments Technology Citrus Pay For $130 Million

PayU, a global online payment service provider has acquired Indian payments technology Citrus Pay for $130 million in an all-cash deal, a joint-statement said here on Wednesday. The agreement is due to close in the third quarter of 2016. The statement described $130 million transaction as the largest ever merger and acquisition cash deal in the Indian fintech sector. "Today's announcement is a significant milestone for both businesses, as well as the fintech industry in India. It is exciting for everyone across the PayU and Citrus teams as we bring together new capabilities that will help us to better serve our collective clients." said Laurent le Moal, CEO of PayU. The deal will grow PayU India customers to more than 30 million, processing a forecasted 150 million trans...
Patanjali Start Operation in International Markets, Setup Unit in Bangladesh & Nepal
News

Patanjali Start Operation in International Markets, Setup Unit in Bangladesh & Nepal

Yoga guru Ramdev-owned Patanjali group is all set to explore international markets with its FMCG products and may also enter Pakistan and Afghanistan in future. "We have already set up our units in Nepal and Bangladesh and our products have reached the Middle East and became popular in some of the countries, including Saudi Arabia," Baba Ramdev told reporters here. "We should be concentrating in poor countries as the profits from those countries will be utilised for development work there itself. "The entry to Pakistan and Afghanistan will mostly depend on the prevailing political situation, and if the situation is politically conducive, units will be set up there," he said. He said their company products are reaching right up to Canada. Patanjali has already entered Azerbaijan which ...