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Amazon Invests 2010 Crore into Amazon India, Total Investment 7000 Crore in Past 12 Months

20Dec By AnkitaNo Comments

FUNDING

Amazon Invests 2010 Crore into Amazon India, Total Investment 7000 Crore in Past 12 Months

It seems Jeff Bezos led American e-tailer Amazon launched full fledged e-commerce war against India's leading e-commerce firm Flipkart. According to latest information Amaon has invested Rs 2,010 crore into Amazon.in. The total investments in Amazon Seller Services to Rs 7,000 crore in the past 12 months, according to regulatory filings. The latest investment strategy from Amazon, making the points raised by Flipkart Founder Sachin Bansal and cab aggregator Ola Founder Bhavish Aggarwal, seeking government intervention and asking the country to protect Indian-origin startups to counter capital dumping by foreign rivals. Last week, Amazon rolled out Prime Video and prime service for which it is in discussions with content players and offers its users a host of features like quicker del...

20Dec By AnkitaNo Comments

FUNDING

Jewellery Marketplace VivoCarat.com Raises $50,000 Seed Funding

Online jewellery marketplace, has raised USD 50,000 in seed funding from a group of individual investors. The funds will be used for product development, team building and marketing, it said in a statement. Founded in early 2016 by Ritesh Oza and Abhijith Shetty, VivoCarat is an online portal of diversified jewellery brands that showcases striking and spectacular jewellery products. VivoCarat has successfully managed to join hands with more than 30 reputed brands across Mumbai & other cities like Jaipur, Surat, Kolkata and New Delhi." said Ritesh Oza, CEO, VivoCarat.com. We add a minimum of 100-150 new designs on the site every month and will continue to bring more varieties for customers across the country.

19Dec By AnkitaNo Comments

INDIA

Swachh Internet- Indian Govt to Soft Launch Malware Cleaning System From Dec 20

Government will kick start operations of a long-awaited malware and botnet cleaning centre with soft launch on December 20, a programme aimed at automatically disinfecting computers and mobiles from viruses and malicious software for free. "Major cybersecurity initiative of Digital India. Soft Launch of BotNet cleaning centre of India CERT from December 20," Ministry of Electronics and IT, Additional Secretary Ajay Kumar tweeted today. Botnet is a network of malicious softwares that can steal information, take control of device function and carry out cyber attacks like Distributed Denial-of-Service (DDoS) that prevent access of websites. Government has earmarked Rs 100 crore for setting up this facility. The project was expected to be launched in 2014. When contacted, Kumar said, "...

Sold Business in China Because Wants Full Focus on India – Travis Kalanick, CEO, Uber

17Dec By AnkitaNo Comments

Entrepreneurs Talk

Sold Business in China Because Wants Full Focus on India – Travis Kalanick, CEO, Uber

Months after selling its stake in China, Uber CEO Travis Kalanick today said it sold its stake to rival Didi since the "battle in China became global", prompting the US-based company to focus on other areas such as Ubereats, driverless cars and markets like India. "The battle in China had become global. We had sovereign wealth of China being invested in our competition globally. We had American tech companies that were being compelled to invest in our competitor in China. And so China battle had become a global battle," Kalanick said at the TiE Global Summit here. In August, the Chinese ride-hailing firm Didi Chuxing announced acquisition of Uber's operations in China in a USD 35 billion deal. While Didi acquired Uber China's brand, business operations and data, Uber received 5.89 perc...

Saksoft Acquires Majority Stake in DreamOrbit

16Dec By AnkitaNo Comments

ACQUISITION

Saksoft Acquires Majority Stake in DreamOrbit

Saksoft Limited, a leading digital transformation company, today announced that it has signed an agreement to acquire majority stake in Bengaluru based DreamOrbit Softech Private Limited (technology solution consulting firm with a focus on providing IT services to the Logistics Industry). With this acquisition, Saksoft will further strengthen its offerings in the Digital space with special emphasis on IoT. Incorporated in 2010, DreamOrbit has been providing specialist technology solutions for the logistics & transportation (including air, land & ocean) enterprises and has offices in Bengaluru (India), Delaware (USA). The company has 230 employees and works with 40+ active customers. Almost all the revenues are offshore driven and cater primarily to the US market with a small portion com...

Home Grown Startups Like “Ola and Flipkart” Losing Confidence: Saurabh Srivastava, IAN, Co-founder

14Dec By AnkitaNo Comments

Entrepreneurs Talk

Home Grown Startups Like “Ola and Flipkart” Losing Confidence: Saurabh Srivastava, IAN, Co-founder

Indian startups playing up the 'home-grown' card and asking government to shut doors to global companies indicate that companies are losing confidence, entrepreneur and angel investor Saurabh Srivastava said today. Instead, companies need to focus on ways to create an "enabling environment" without closing the doors for foreign players, he said. "One needs to have a balanced matured view... I think, we are losing confidence... there's no reason for that... We should make sure that the environment that we have is fair, free and level-playing field," Srivastava, who is also the chairman and co-founder of Indian Angel Network (IAN) said at a media briefing ahead of the TiE Global Summit. He added that while Indian companies should not be at a disadvantage, the focus needs to be on "how to c...

Bill Gates Starts $1 Billion “Breakthrough Energy Ventures Fund” on Climate Change

13Dec By AnkitaNo Comments

FUNDING, News

Bill Gates Starts $1 Billion “Breakthrough Energy Ventures Fund” on Climate Change

Microsoft co-founder Bill Gates and a group of high-profile executives are investing USD 1 billion in a fund to spur clean energy technology and address global climate change a year after the Paris climate agreement. Gates launched the Breakthrough Energy Ventures fund on Monday along with billionaire entrepreneurs such as Facebook Inc head Mark Zuckerberg, Alibaba Group Holding Ltd Chairman Jack Ma and Amazon.com chief Jeff Bezos. The fund seeks to increase financing of emerging energy research and reduce global greenhouse gas emissions to help meet goals set in Paris, according to a statement by the investor group known as the Breakthrough Energy Coalition. It marked the first major investment of the coalition formed in December 2015 to spur research, development and deployment of c...

We are Ready to Build Hyperloop Between Mumbai and Pune: Bibop G Gresta, Co-founder of Hyperloop Technologies

8Dec By AnkitaNo Comments

Entrepreneurs Talk

We are Ready to Build Hyperloop Between Mumbai and Pune: Bibop G Gresta, Co-founder of Hyperloop Technologies

Elon Musk-backed Hyperloop Transportation Technologies (HTT) Co-Founder Bibop G Gresta today said the company is ready to build Hyperloop between Mumbai and Pune, but the decision is left with Union Transport Minister Nitin Gadkari to go ahead with the project. "Gadkari has a proposal to build the Hyperloop on his table and he has to take a decision. If he wants to go ahead with it, we are ready, and it will be a feasibility study to begin with to lay line between Bombay (Mumbai) and Pune," he told PIXR8 here on the sidelines of the Carnegie Global Technology Summit 2016 here. Hyperloop runs faster than an aircraft at a speed of 1,120 kmph. Asked about the regulatory challenges to build Hyperloop in India, Gresta said Gadkari, during the meeting, had expressed the Indian Government's w...

You Take Rest, SERVURANCE App Will Clear The Mess

7Dec By AnkitaNo Comments

Story

You Take Rest, SERVURANCE App Will Clear The Mess

There are so many things in our day to day life that we depend on manual help for, for our basic necessities and getting that services on time and with minimum efforts becomes very tedious. How about an online access and a user friendly application for major and even minor household tasks like cleaning and other stuffs? Cleansening and hygiene go hand in hand and we often overlook their importance. An app called SERVURANCE provides solution to this problem and strikes just the right chord. Servurance, the application, gives premium Deep Cleaning Services to Homes and Offices in Delhi/NCR and other metro cities. Servurance uses world class hardware and cleaning specialists to clean and sterilize your home. Their staff is well rounded, prepared and confirmed to guarantee your well bein...

Amazon Launchpad For Startups- Register For Rs 5000 and Sell Your Product Worldwide

6Dec By AnkitaNo Comments

News

Amazon Launchpad For Startups- Register For Rs 5000 and Sell Your Product Worldwide

E-commerce giant Amazon today rolled out its global programme 'Launchpad' in India to provide startups in the country a platform to market, sell and deliver products across the globe. India is the seventh country where Amazon Launchpad has been made available, and the platform, "tailormade" for startups, is available for a fee of Rs 5,000 a month. Launchpad is already available in the US, UK, China, Germany, France and Mexico. Through the Launchpad page startups and entrepreneurs can sell products on a global scale, overcoming general marketplace challenges like requirements of large investments to get noticed and loss of margins in channels, the company said. Amazon Launchpad will offer startups and small enterprises access to custom pages where sellers can showcase their products th...

E-grocery Platform BigBasket Target 300% Growth, Rs 2,000 crore Revenue at Fiscal End

5Dec By AnkitaNo Comments

BUSINESS

E-grocery Platform BigBasket Target 300% Growth, Rs 2,000 crore Revenue at Fiscal End

With people becoming comfortable buying even milk and bread online, e-grocery platform BigBasket today said it has seen 300 per cent growth in revenue in the past one year and expects to cross the Rs 2,000 crore-milestone by the fiscal-end. With four million registered customers, the Bengaluru based firm expects to become profitable by March 2018. "In the past year alone, we have seen over a 300 per cent growth and continue to grow by 10 per cent on a month-on-month basis. We hope to triple revenues to Rs 2,000 crore by March 2017," BigBasket co-founder Vipul Parekh told Pixr8. Parekh added that the company's revenue has grown from Rs 178 crore in FY2015 to Rs 700 crore in FY2016. "However, these numbers do not include the impact of demonetisation that has in fact, pushed our sales up ...

Alibaba Backed Out To Acquire Indian E-commerce Firm Snapdeal

2Dec By AnkitaNo Comments

News

Alibaba Backed Out To Acquire Indian E-commerce Firm Snapdeal

China's Alibaba Group Holding is not buying Indian e-commerce company Snapdeal and is not in talks to do so, a person familiar with the matter said on Thursday, dampening talk that an acquisition was in the works. Rumour rumour on the wall, which troll did you callYou said sold, they said bought, but whoever listened to you didn't get diddly squat.— Kunal Bahl (@1kunalbahl) December 1, 2016 Hangzhou, China-based Alibaba was also in talks with Flipkart for a potential buyout but it seems like the talks have fallen through as Alibaba takes an interest in acquiring Snapdeal, which has raised over $1.76 billion in 12 funding rounds. Alibaba had already invested in India's leading online payment platform Paytm in September 2015, also acquired 40% stake. A strategy likely t...