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17Jun By AdityaNo Comments

FUNDING

Fashion Marketplace Startup Voonik Raises 133 Cr Funding From Kunal Shah & Others

Fashion marketplace Voonik has raised USD 20 million (around Rs 133 crore) in Series-B round of funding to scale up operations. Sequoia Capital led the round with participation from Times Internet, Seedfund, Beenos, Beenext, Parkwood Bespin, Tancom Investments and Kunal Shah, it said in a statement today. "The funds will enable Voonik to enhance customer experience, strengthen their personalisation engine, and to scale up Mr Voonik and Vilara," the company said. "Series A helped us in gaining scale, and now with this renewed investor confidence through Series B, we are all set to consolidate our leadership in fashion commerce," co-founder and CEO Sujayath Ali Voonik said. Launched in August 2014, The company has 10 million registered users, 8 million app downloads, 100 million annu...

14Jun By AdityaNo Comments

INDIA

Indian Telecom Operators Mobile Data Revenue May Hit Rs 95.5K cr in 5yrs

Indian telecom operators are expected to rake in Rs 95,500 crore in revenues from mobile data services over the next five years, says a report by ICRA. Mobile data revenues are expected to grow at a compounded annual growth rate (CAGR) of 21 per cent by financial year 2021 and are expected to contribute 34 per cent to the total mobile service earnings, the ratings agency said. At present, mobile data accounts for about 20 percent of the telecom operators revenues, the report said. "Over the last five years, data revenues for the ICRA Sample of telcos traced a strong CAGR of 54 per cent from Rs 3,200 crore in FY 2011-12 to Rs 27,450 crore in FY 2015-16," ICRA AVP Corporate Sector ratings Harsh Jagnani said. Nevertheless, when compared to international levels, the data revenues as pr...

Alibaba Expects $900 Billion Transaction Volumes By 2020

14Jun By AdityaNo Comments

CHINA

Alibaba Expects $900 Billion Transaction Volumes By 2020

Chinese e-commerce giant Alibaba Group Holding Ltd said on Tuesday it expects to nearly double its transaction volumes by 2020, signalling it still expects rampant growth as Executive Chairman Jack Ma pledged to intensify a crackdown on fake goods. At an investor conference at its headquarters in Hangzhou, Zhejiang province, Alibaba said it expects to record 6 trillion yuan ($912 billion) in gross merchandise volume (GMV) in fiscal 2020, nearly double 3.09 trillion yuan in fiscal 2016. Echoing that growth, Ma said Alibaba expects to have 2 billion consumers on its books by 2036, up from 423 million active buyers in 2016. Addressing concerns about the company's efforts to remove counterfeit products from its online platforms, Ma said Alibaba will do "anything to stop the fake produ...

Telecom Solutions Provider U2opia Will Invest Around Rs 20 Cr in Indian Startups

11Jun By AdityaNo Comments

FUNDING

Telecom Solutions Provider U2opia Will Invest Around Rs 20 Cr in Indian Startups

Telecom solutions provider U2opia Mobile will invest USD 3 million (around Rs 20 crore) over the next three years to fund startups working on scalable mobile technology. Under its Catapult programme, in the first year, U2opia will invest in five-six companies that have about 2-4 members. The programme is aimed at helping early-stage startups and entrepreneurial teams that are finding it difficult to raise funds, U2opia Mobile co-founder and MD Sumesh Menon said. These companies could be working in areas like mobile security (antivirus), gaming or solutions for operators, he said. "Under this programme, all teams will be given access to state of the art technology infrastructure, ample working space, brand and marketing support, management and financial cover," Menon added. Bes...

10Jun By AdityaNo Comments

News

Maxus Bags Media PR Rights of Tata CLiQ

Global communications consultancy Maxus today said it has bagged the media mandate for Tata Groups e-commerce platform Tata CLiQ, following a multi-agency pitch. The mandate involves management of all media across television, print, radio, cinema and will be handled from Maxus Mumbai office. "In a category cluttered with product forward, sales, discount advertising or high-end fashion and lifestyle imagery that is indistinguishable from one brand to the other, we chose to tell a quirky tale using camels and associating them with the guarantee of finding authentic and genuine products at TataCLiQ.com," Tata CLiQ Head ? Marketing Prathyusha Agarwal said in a statement. "With a novel proposition and communication idea, we are sure that we will build a strong salient brand. We believe...

8Jun By AdityaNo Comments

FUNDING

UK Based Koovs Raises 30 Cr Funding From HT Media

UK-based online fashion player Koovs plc today announced raising 3.3 million pounds (over Rs 30 crore) from HT Media Ltd and Dragon Asia Holdings Pte Ltd to fund its marketing and brand building activities in India. Koovs said it has issued 1.2 crore new ordinary shares at a price of 25 pence per ordinary share to HT Media translating to 8.2 per cent stake in the enlarged issued share capital of the fashion portal. Similarly, the company issued 12 lakh new ordinary shares at a price of 25 pence per share to Dragon Asia Holdings Pte Ltd taking total holding in it to 19.2 per cent. "This investment shows further momentum in our Capital Raising and supports our focus on marketing in order to accelerate brand awareness and sales growth for Koovs in India. Our ambition remains t...

8Jun By AdityaNo Comments

FUNDING

CreditVidya Raises $2M Series A Funding From Kalaari Capital

Kalaari Capital, an early-to-mid-stage venture capital firm invested a Rs 13.3 crore funding in Mumbai-based startup CreditVidya. Creditvidya is a financial technology startup Infocredit Services, which operates credit score advisory platform. It has also received additional 1 crore from Paragon Partners, Siddharth Parekh, an early backer of the venture of the creditvidya in his personal capacity. The company will use the Series A funding to further build its technology platform, launch new products and expand its headcount, with a particular focus on ramping up its data sciences team. "India's demographic profile consists primarily of people without a credit history. CreditVidya's solutions enable lenders to increase profitability by more accurately assessing the credit risk o...

Education Start-up Cuemath Raises $4 million

7Jun By AdityaNo Comments

FUNDING

Education Start-up Cuemath Raises $4 million

Cuelearn Pvt Ltd also known as Cuemath runs an Education start-up has raised $4 million from Sequoia venture capital firm and existing investor Unitus Seed Fund. With this round of funding, Cuemath aims to expand to international markets and increase the number of teachers that use its platform from 1,200 to 5,000. The firm declined to say how many students use its platform. “What we are essentially saying is that we don’t require someone to teach actively. Unlike others, in our case, the system is doing the teaching, and not the teacher. Math is the biggest need for children. Fitting many subjects into the same time slot will dilute the learning,” said Manan Khurma, founder of Cuemath. The firm had in August raised an undisclosed amount from Alok Mittal, former managing director of ...

5Jun By AdityaNo Comments

ANALYSIS

Nearly 3000 Fitness Apps Aren’t Science-Based – Study

You may be wasting your time fighting those extra kilos with fitness apps as according to a recent study, many of them lack certified content-expertise or evidence of effectiveness. Overweight and obese people are turning to a multitude of smartphone apps to help them lose weight, but this study said that only 17 (0.5 percent) of the apps identified by the researchers have been developed by a certified health organisation or university. Also, there is no published evidence of the effectiveness for weight-loss or weight-gain prevention apps. Overweight and obesity is a major health challenge worldwide, demanding new, cost-effective approaches for life-long treatment and prevention. The mobile 'app' technology revolution offers new potential approaches for receptive, younger, people, w...

3Jun By AdityaNo Comments

FUNDING

Jobs Aggregator Platform Glassdoor Raises $40 million Funding

Glassdoor, Inc., the world's most transparent jobs and recruiting marketplace, today announced the closing of a $40 million investment round led by funds and accounts advised by T. Rowe Price Associates, Inc. Existing investors Battery Ventures, Google Capital, Sutter Hill Ventures and Tiger Global also participated in the round. The company has raised approximately $200 million since it was founded in 2007. While best known for its proprietary user-generated content, Glassdoor is now one of the largest job aggregation engines in the world. No other job site offers as many job listings combined with such a vast array of workplace insights, including company ratings and reviews, CEO approval ratings, detailed pay data by job title, interview reviews, benefits reviews and office photos...

2Jun By AdityaNo Comments

News

Now ‘ConfirmTkt Alternates’ Will Help Waitlisted Passengers to Get Confirmed Tickets

India's train PNR predictor ConfirmTkt.com has launched a new product 'ConfirmTkt Alternates' to help the waitlisted train passengers to get confirmed tickets by unlocking all the hidden and other best available travel options. Available on Android as well as Apple iOS, the app takes into consideration the delay in the train arrivals and departures while suggesting alternates. "Sometimes no quota can get you confirmed tickets for a train journey. So we have built algorithms. We call it as ConfirmTkt Alternates. We all use these techniques to get to our destination, but we end up wasting a lot of time. Our new feature solves that problem," said Co-founder and COO of ConfirmTkt, Sripad Vaidya. "ConfirmTkt Alternates is a simple solution for the complex problem which eliminat...

Softbank Sold $8 Billion Shares of Alibaba To Repay The Debt

2Jun By AdityaNo Comments

News

Softbank Sold $8 Billion Shares of Alibaba To Repay The Debt

SoftBank Group said on Tuesday it would sell at least $7.9 billion of shares in Alibaba to cut the Japanese company's debt. It said it would remain Alibaba's largest shareholder after the sale. Singapore state funds bought $1 billion of shares in Chinese e-commerce company Alibaba Group Holding Ltd as part of an $8.9 billion sale by Japan's SoftBank Group Corp, Alibaba's biggest shareholder, the company said on Wednesday. Singapore sovereign wealth fund GIC Pte Ltd, and state investor Temasek Holdings each purchased $500 million of Alibaba shares at $74.00 apiece through subsidiaries, Alibaba said, offering details of the SoftBank sale announced on Tuesday. GIC and Temasek confirmed the transactions but declined to provide further comment. Temasek is an existing investor in Alibab...