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Mobikwik Offers 6% Annual Interest Rate on 5000/month Balance in Wallet

1Jun By AdityaNo Comments

News

Mobikwik Offers 6% Annual Interest Rate on 5000/month Balance in Wallet

Fin-tech company MobiKwik today said it will offer 6 per cent annual interest on the account balance to its mobile wallet users. The company, which competes with Alibaba-backed Paytm, has over 30 million wallet users in the country. MobiKwik claims it is growing at 250 per cent per year and expects to touch 70 million users by the end of 2017. "This is the first time in India that users can get higher profits than institutional savings on their mobile wallet balance," MobiKwik said in a statement. To avail the 6 percent annual return, users would have to maintain an average of Rs 5,000 or more in their wallets per month. "Profits will be credited to users MobiKwik accounts on a monthly basis only. The announcement is part of the company's plan to expand its services across solution...

1Jun By AdityaNo Comments

FUNDING

Delhi Based Startup Tpot Raises Seed Funding

New Delhi-based food-tech startup Tpot has raised undisclosed amount in seed funding from Ashish Gupta, Founder & Trustee of Ashoka University and Co-founder of Evalueserve. Using this fund, Tpot plans to expand its presence by taking its outlet count from 20 to over 50 by the end of the year. Also, the fund will be used in channelising the team expansion and on the ideation of introducing innovative products involving tea. “Our team has built a strong foundation in Delhi/NCR region. Having gained a good traction in Chai-Nashta segment of consumers here, we are confident to establish our brand presence in the other markets too,” said Robin Jha, Co-founder, and CEO of Tpot. The company is currently generating revenue of INR 6 crores and is targeting to reach INR 12 crores by the yea...

31May By AdityaNo Comments

FUNDING

Vahanalytics Raises $200000 Seed Funding From Venture Catalysts

Vahanalytics, a tech-driven startup aimed at making Indian roads safer and better has raised USD 200, 000 through Venture Catalysts, India's first Seed Investment and Innovation Platform. The investment was led by prominent VCats angels Vikram Lakhotia and Anirudh Damani. With driverless smart cars increasingly being explored as a viable medium to improve the on-road transportation efficiency by tech giants around the world, the investment into Vahanalytics is aimed at addressing a global problem on a local scale. Speaking on the investment, Dr. Apoorv Ranjan Sharma, Co-founder, Venture Catalysts, said, "Data analytics in transportation using telematics is the need of the hour. The space is extremely exciting and opens the door for almost limitless possibilities for implementation. The...

Sudha Murty, Infosys Chairperson Launches Infosys Household Biogas Digester Project

30May By AdityaNo Comments

News

Sudha Murty, Infosys Chairperson Launches Infosys Household Biogas Digester Project

Software major Infosys today announced the launch of a Rs 22 crore household biogas project in Ramanagara district in Karnataka. Under the project, Infosys will build 7,620 household biogas units and provide an equal number of biogas stoves to as many families in the district. Over a 10-year period, the project is expected to generate biogas equivalent to about 1 million cylinders of domestic LPG, the company said in a release here. SKG Sangha, a Karnataka-based NGO with experience in implementing biogas projects, will be the implementation partner for the project, it said. Infosys will train the beneficiaries, maintain the biogas digesters and monitor their performance, the release added. The project was inaugurated by Sudha Murty, Chairperson of the Infosys Foundation, Ind...

30May By AdityaNo Comments

News

Myntra Launches ‘Try Myntra’ Campaign to Encourage Online Shopping

Myntra - India's leading fashion portal has launched 'Try Myntra, you'll love it' campaign as a successor to its popular '#JustArrived' tagline. Through this campaign, Myntra aims to address the inhibitions of shoppers who are reluctant to buy clothes online. The campaign is estimated to reach out to 20 million online shoppers who avoid online shopping of clothes due to constraints such as touch, feel, fitting, exchange policy and others. The campaign targets the key essence of easy returns and cashback policies, while emphasizing the fact that clothes purchased online are perfectly fitting. As a part of campaign, two short films have been launched. The first film starts with Abhay Deol andIra Dubey, as a married couple, wherein Ira is trying a new one piece dress, only to realize th...

Delhi-NCR Emerged as The Top Job Creator City in January-March: Report

29May By AdityaNo Comments

News

Delhi-NCR Emerged as The Top Job Creator City in January-March: Report

Delhi-NCR emerged as the top job creator among eight major cities in January-March, generating over 2.6 lakh new employment opportunities in the period, says a report. A total of 8.5 lakh jobs were created in eight major cities across the country, the report said. "Delhi-NCR emerged on top with over 2.6 lakh new jobs created during January to March 2016 followed by Bangalore (1.9 lakh), Mumbai (1.5 lakh), Chennai (82,200) and Hyderabad (60,000). About 88.9 per cent of job openings have been recorded in these top five cities," the report by Assocham said. In Delhi-NCR, about 61.1 per cent of job openings were recorded from the information technology enabled services (ITeS) followed by services (18.5 per cent), manufacturing (8.4 per cent), banking financial services & insurance (...

Now Book Ride in Jaguar at Rs 19/km Using Ola Lux

28May By AdityaNo Comments

News

Now Book Ride in Jaguar at Rs 19/km Using Ola Lux

Country's largest taxi aggregator Ola, which recently launched a riding offer at as low as Rs 6/km, today introduced luxury service Ola Lux in the city, under which a rider can choose from a slew of luxe cars. The company said under the new scheme, a passenger can book a Jaguar, Merc, Audi, BMW, Fortuner, Honda Accord for a minimum fare of Rs 200 and charged at Rs 19/km. A ride time charge of Rs 2/min is also applicable, it said. The new chic category is available across south Mumbai to begin with, and would be introduced to other parts of the city soon, Ola Chief Marketing Officer Raghuvesh Sarup said. "With a growing number of young executives, entrepreneurs and professionals, the need for on-demand luxury sedans is growing tremendously in cities," Sarup said, citing t...

mChamp, Bags Rs 5 Crore Seed Fund From MoMagic Technologies

26May By AdityaNo Comments

FUNDING

mChamp, Bags Rs 5 Crore Seed Fund From MoMagic Technologies

Delhi-based mChamp Entertainments, a celebrity and entertainment-driven contest app, bags Rs 5 crore seed funding from MoMagic Technologies, a leading mobile Internet market and app ecosystem player. mChamp, a fund-driven contest app, in the past 9 months of its launch has already conducted 50 'Celebrity Meet and Greets' for contest(s) players. And the app is witnessing a 15% growth month-on-month, in terms of tie-ups and partnerships with leading FMCG brands, celebrity shows (TV/concerts) and productions houses. Founder, Paresh Shah, mChamp Entertainments, said, "We are indeed very honored and happy to bag the very first round of seed funding from MoMagic, a Foxconn and MediaTek invested company. Along with being seed funded, we believe our mission of: mChamp being the No 1 Cele...

Nikesh Arora Received $73M Pay Cheque From Softbank in 2016

26May By AdityaNo Comments

News

Nikesh Arora Received $73M Pay Cheque From Softbank in 2016

Nikesh Arora, a Ex-Googler and the president and COO of SoftBank Group, received heafty pay check of $73 million (8.04 billion yen) in 2016. Arora's compensation includes $14.2 million (1.56 billion) paid by other SoftBank units. After Google, Arora had joined SoftBank as its vice-chairman and CEO of SB Group US (previously SoftBank Internet and Media Inc) in September 2014. In 2014-15, Arora had received a $135 million pay package including signing bonus during joining the company in September and end of March 2015. Nikesh Arora count among top paid executives in the world. During his tenure, Arora has led SoftBank's investments into Snapdeal, Ola, Housing, Oyo Rooms and Grofers. He also faces several criticism from a group of SoftBank Group investors, which alleged conflict of ...

Govind Rajan Replaces Kunal Shah as a New CEO of Freecharge

25May By AdityaNo Comments

News

Govind Rajan Replaces Kunal Shah as a New CEO of Freecharge

Snapdeal acquired FreeCharge, a digital payments platform announced Govind Rajan as the new Chief Executive Officer of the company replaces Kunal Shah who is now the chairman. "In Govind, we have an exceptional leader, who will lead FreeCharge to become the No. 1 player in the payments ecosystem in the country," said Kual Shah in a press release. Govind joined FreeCharge in August 2015 and was the Chief Operating Officer at the company. In his previous stints, Govind was the Chief Marketing Officer (B2C) at Bharti Airtel and concurrently also served as the CEO for Airtel Money. An alumnus of Indian Institute of Foreign Trade (IIFT), Govind spent the first 15 years of his professional life at Hindustan Unilever, where he served in various marketing and leadership roles. In April...

UrbanClap, Industrybuying Tie Up to Offer Toolkits to Service Orofessionals

23May By AdityaNo Comments

BUSINESS

UrbanClap, Industrybuying Tie Up to Offer Toolkits to Service Orofessionals

UrbanClap, India's leading marketplace for trusted services has teamed up with leading B2B e-commerce platform Industrybuying for its service professionals to offer them toolkits at subsidized prices, catering to the plumbers, electricians, carpenters, and appliance repair technicians registered on the UrbanClap platform. Both company have seen significant interest from investors in their respective segments. While Industrybuying focuses on solving inefficiencies in industry supply operations and offer reliable procurement of industrial products, similarly UrbanClap is seeking to solve the problem of the unorganized services marketplace in India. "Industrybuying's emphasis on standard, reliable products is in line with our strong focus on providing high quality services. But, along w...

8 Key Points of India’s Own Space Shuttle RLV-TD Successful Launch

23May By AdityaNo Comments

News

8 Key Points of India’s Own Space Shuttle RLV-TD Successful Launch

India today successfully launched the first technology demonstrator of indigenously made Reusable Launch Vehicle (RLV), capable of launching satellites into orbit around earth and then re-enter the atmosphere, from Sriharikota in Andhra Pradesh. "Mission accomplished successfully," an Indian Space Research Organisation (ISRO) spokesman said, soon after RLV-TD HEX-01 was flight tested with the take off at 7 am. Here are the some key points of India's own Own Space Shuttle RLV-TD: This is the first time ISRO has launched a winged flight vehicle, which glided back onto a virtual runway in the Bay of Bengal, some 500 kilometres from the coast. Known as hypersonic flight experiment, it was about 10 minutes mission from liftoff to splashdown. The RLV-TD is a scale...