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Matrix Cellular Launches App, Enters Into E-commerce Space

20Apr By AnkitaNo Comments

News

Matrix Cellular Launches App, Enters Into E-commerce Space

International mobile sim seller Matrix Cellular today launched an app for international travellers to help them book movie tickets, restaurants and taxi, among other things. Matrix Travel Companion App is now available for free on Android and Apple iOS platform, Bollywood actress and Matrix Cellular Independent Director Gul Panag said. She said the app has been incubated by Matrix Cellular but its business will operate independently from sim service business of Matrix. "Though we will like existing Matrix users to use this app but it is not mandatory for them to download it. It is free for everyone across the globe," Panag said. She said the company has partnered with Zomato, Uber to provide services in which they specialise while Matrix on its own has worked on tie-up with ven...

BigBasket and Grofers are in Talks For Possible Merger

19Apr By AnkitaNo Comments

ACQUISITION

BigBasket and Grofers are in Talks For Possible Merger

India's online grocery delivery service BigBasket and smaller rival Grofers India Pvt. Ltd. have begun talks on a possible merger, Indian newspaper Mint reported on Wednesday, citing sources. If the merger goes through, SoftBank Group (9984.T), which is an existing investor in Grofers', will participate in a $60 million to $100 million funding round in the merged company, the report added. The talks, which are in early stages, may value BigBasket at about $700 million to $800 million, while Grofers could be valued at $150 million to $200 million, Mint added. Online grocery sales are a fast growing segment in India's e-commerce industry as more consumers log in to internet for their purchases.

Will Take Action If India Shields Its Local Mobile Phone Makers: Chinese media

19Apr By AnkitaNo Comments

CHINA

Will Take Action If India Shields Its Local Mobile Phone Makers: Chinese media

India should resist the temptation of resorting to "protectionism" to shield local mobile phone makers against Chinese smartphone firms, China's official media said on Tuesday warning that Beijing could take countermeasures against any such move. The Indian mobile firms are seeking government action to ease the pain of their defeat to Chinese rivals, an article in the state-run Global Times said referring to pleas by the mobile phone makers that government should raise supplementary levies against handsets from Chinese companies. "As for China, the Chinese government is unlikely to sit idly while India harms the interests of Chinese companies. We cannot rule out the possibility that China will take countermeasures if India takes unfair measures to protect its home grown companies from ...

Infosys Foundation Offers Rs 2 Crore Grant for Open Online Resource Sahapedia

17Apr By AnkitaNo Comments

FUNDING

Infosys Foundation Offers Rs 2 Crore Grant for Open Online Resource Sahapedia

Infosys Foundation, the philanthropic arm of IT major Infosys, today announced a partnership with Sahapedia, an open online resource, to support the development of an online interactive web module on the arts, culture and histories of India. The Foundation has offered a corpus grant of Rs 2 crores invested for a period of 25 years towards the initiative. It said through this association with Sahapedia, a non-profit organisation, the foundation aims to provide content comprising multimedia modules made up of articles, interviews, photographs, performance videos timelines, walkthroughs and bibliographies thereby assimilating a rich experience of Indian history and culture on the web. "We are proud of our partnership with Sahapedia and look forward to jointly positioning the effort ...

Ola Cabs Raises Rs 1,675 Crore From Softbank

14Apr By AnkitaNo Comments

FUNDING

Ola Cabs Raises Rs 1,675 Crore From Softbank

New Delhi: Japanese investor SoftBank has pumped in about Rs 1,675 crore in fresh funding in Indian transportation startup Ola to give it more muscle to take American rival Uber head-on. SoftBank subsidiary SIMI Pacific Pte picked 12,97,945 shares valued at Rs 10 at a premium of Rs 12,895 in ANI Technologies -- which runs Ola -- filings with the Registrar of Companies showed. The allotment of shares was done in November last year, it added. The latest funding, however, is believed to have come at a lower valuation. According to sources, the move comes at a time when Softbank is working on selling Snapdeal, an e-commerce platform it invested heavily in India, to larger rival Flipkart. The Bengaluru-based firm was aggressively looking at raising funds to compete with Uber, the wo...

Cisco to Make India Hub For Global Hardware Export

11Apr By AnkitaNo Comments

News

Cisco to Make India Hub For Global Hardware Export

Networking giant Cisco today said it plans to make India a global export hub for its products, after recently having started manufacturing access points and routers at a facility in Pune. The US-based company also expects to complete 50 digitisation projects by the end of the year across India, which is part of its USD 100 million investment announced last year. "Our roadmap is very clear. Our first intention was to start with 5 or 6 products that we wanted to make in India for domestic market such as access points, routers etc. "The second stage is to make that centre (Pune) a global export hub. That is the next stage we are working on right now," Cisco President India and SAARC Dinesh Malkani said at the Cisco India Summit 2017. In March, Cisco had unveiled its first 'Made in...

8Apr By AnkitaNo Comments

News

Uber Android App Banned in Italy

An Italian court has banned the use of smartphone apps for the ride-hailing group Uber, saying they contribute to traditional taxis facing unfair competition, local media reported. In a ruling that is subject to appeal, a court in Rome yesterday upheld a complaint filed by taxi unions and gave Uber ten days to end the use of various phone applications on Italian territory, along with the promotion and advertising of them. If Uber does not comply it could face a fine of 10,000 euros for each day it remains in defiance of the court. Uber said it was shocked by the ruling and that it would appeal immediately, seeking suspension of the ruling. The court's ruling follows a decision by a court in Milan two years ago to ban the company's UberPop application, which was deemed under Ita...

Crowdfunding Platform DesiredWings Acquires Catapooolt

7Apr By AnkitaNo Comments

ACQUISITION

Crowdfunding Platform DesiredWings Acquires Catapooolt

Promoters of crowdfunding platform Desiredwings.com have acquired Catapooolt.com for an undisclosed sum. Both the brands will stay in the market post this acquisition, focusing on different segments of the crowdfunding industry. By virtue of this acquisition, together Desired Wings and Catapooolt "stand as leaders and the largest crowdfunding platform" with various diversified successfully funded campaigns to its portfolio, a company release said. "Post this acquisition, we have secured the leadership position in the industry and now with the combined strength of both the brands, we can grow faster and also help shape this industry," Shabir Momin, co-founder, DesiredWings, said. DesiredWings facilitates business idea validation and development, helps start-ups prefund their future pro...

Warburg Pincus Invests Rs 500 Cr in Kalyan Jewellers

3Apr By AnkitaNo Comments

FUNDING

Warburg Pincus Invests Rs 500 Cr in Kalyan Jewellers

Kerala-based Kalyan Jewellers today announced American private equity firm Warburg Pincus has invested an additional Rs 500 crore in the company. The proceeds will be used for expansion of its network in both domestic and overseas market, a company statement said. With the second round of investment, the American PE firms total investment in Kalyan Jewellers has increased to Rs 1,700 crore. It had invested Rs 1,200 crore in 2014. "The investment by Warburg Pincus is a vindication of the strong growth trajectory of the company," Kalyan Jewellers Chairman and Managing Director T S Kalyanaraman said in a statement. The company plans to nearly double its presence to 200 plus showrooms using a combination of equity, debt and internal accruals, he said. It is also working on a bluepri...

Axel & Boris from Germany – The First Yessspreneurs Ready To Conquering the Indian market

1Apr By AnkitaNo Comments

Story

Axel & Boris from Germany – The First Yessspreneurs Ready To Conquering the Indian market

Born and raised in Germany, Axel & Boris grew up together and started their first IT company together in 1997 and were since then involved in technology and energy projects. They also creators of the Yesss Spirit, a powerful way to be energetic and positive every day - doesn't matter what's going on in life. Axel & Boris consider themselves as explorers, seeking for amazing people, new innovative ideas and discoveries worldwide. They founded Yesss CAPITAL to invest in technology, energy, and entertainment startups from India & Europe. Yesss CAPITAL was born out of their passion for innovations and the recognition that synergies do exist between diverse sectors, companies, & humans, and their growth can be greatly enhanced if their efforts are synchronized. The strate...

SHAREit’s Global Users Surpass One Billion

30Mar By AnkitaNo Comments

News

SHAREit’s Global Users Surpass One Billion

On March 16, 2017, SHAREit announced that its global user number surpassed one billion, including over 300 million internet users contributed by India, and more than 60% were Indian netizens. Up to now, SHAREit has already covered over 200 nations with monthly active users of nearly 400 million. Consistently ranking No.1 in the GooglePlay Popular Tool List among 33 nations and No.1 in the AppStore Productivity Rating among 62 nations. More than 700 million documents are distributed through SHAREit every day. It has a huge potential of crunching big data. Along with the technological development from Internet to mobile Internet, the world is even more interconnected. But in the current stage, India is facing a lot of obstacles. Among them, the comprehensive construction of internet in...

Rooter Raises Funds From Intex Technologies

30Mar By AnkitaNo Comments

FUNDING

Rooter Raises Funds From Intex Technologies

Intex Technologies, a mobile handset and consumer electronics company, said it has invested in Rooter, a sports engagement platform, thus marking its foray in start up funding. Commenting on the investment, Keshav Bansal, Director, Intex Technologies said, "As sports is an extremely emotion-driven phenomenon and the sports fan engagement platform is a completely uncharted territory, Rooter has limitless scope for growth...By funding start-up ventures like Rooter, we want to take brand Intex to the next level where it connects with the global audience. "Intex Technologies...is now entering into funding innovative start-ups with the first being Rooter - the world’s first digital platform that connects, engages and helps sports audiences to interact with each other on a real-time basis ...