Wednesday, May 1

Author: Lavina Tolani

A computer engineer turned blogger, she has always been a writer at heart. It was the perfect combination of utilising her research and analytical skills and her enthusiasm for writing that sparked her interest in writing about the Indian startup ecosystem – the latest tech and gadgets and the startups that create them. She is always on the lookout for industry-specific stories in niche areas of interest such as e-commerce, fintech, green tech and more.
Uber hires ex-Facebook Executive as Driver Product Head
14Jun By Lavina TolaniNo Comments
News

Uber hires ex-Facebook Executive as Driver Product Head

American Cab Aggregator Uber has appointed Daniel Danker, a product director at Facebook who was responsible for video and Facebook live. Under the new role, Danker will work as Senior Director and Head of Driver Product at Uber responsible for handling planning, strategy, and execution. Danker has also been associated with Microsoft before his three-year stint in facebook. Notably, the cab-hailing company had been bereft of a product head since Aaron Schildkrout left in December.   Psyched to have @MrDanielDanker join our team so we can continue to improve, innovate and build great experiences for our driver partners! Uber brings on Facebook product director to lead driver product — dara khosrowshahi (@dkhos) June 13, 2018 Uber's Chief Executive Officer Dara Khos...
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We “Pixr8 News” Raise 2.5 Mn Angel Funding
13Jun By Lavina TolaniNo Comments
FUNDING

We “Pixr8 News” Raise 2.5 Mn Angel Funding

Delhi based Online Business Media Platform Pixr8 News has raised 2.5 Million Seed Funding From an Angel Investor. The digital media house plans to use the newly raised funds in expanding its customer base, acquiring readership and hiring new talent that could boost its market reach and business operations. Currently, with offices in Lucknow and Delhi, the organisation has helped many leading Global Companies, SMEs & Startups to promote their brand, business & portfolio. Confirming on the latest funding round, Mr Nitish Singh, CEO and Founder at Pixr8 News said, "We feel lucky to have raised seed funding at such a crucial juncture. We now aim to use the latest funding for company expansion in India and Internationally.  Founded in 2014 by Mr Nitish Singh, Pixr8 News is an emerg...
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Food Delivery Platform Swiggy Expands Service in Lucknow
13Jun By Lavina TolaniNo Comments
News

Food Delivery Platform Swiggy Expands Service in Lucknow

Swiggy, the popular food ordering and delivery platform in India has announced the expansion of its service to Lucknow, the 15th city where the company will go onboard in the country. The company has tied up with over more than 220 restaurants and will be serving in areas such as Gomti Nagar, Indira Nagar, Mahanagar, Nishatganj, Hazratganj, Aliganj, Nirala Nagar and Khurram Nagar by end of this month. Confirming its launch in the city of Nawabs, Srivats T.S., Vice President-Marketing at Swiggy said, Lucknow has a mix of different cuisines and influences woven into its culinary tradition, and we are excited to serve here. Our App has witnessed thousands of downloads for the app in Lucknow even before our launch. This not only shows that food ordering and delivery has become an integr...
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Truecaller acquires Sequoia Backed Payment Startup Chillr
13Jun By Lavina TolaniNo Comments
ACQUISITION

Truecaller acquires Sequoia Backed Payment Startup Chillr

Sweden based caller identification app Truecaller has acquired payment startup Chillr to boost its payment business in the country, as announced at a press conference in Bengaluru on Wednesday. The acquisition has come in just after the company announced to roll out credit and other financial services to Indian users in the coming months. Chillr team members which include Anoop Sankar, Sony Joy, Mohamed Galib and Lishoy Bhaskaran will be absorbed into the company with co-founder Sony Joy serving as the vice president of Truecaller Pay. Notably, Truecaller had ventured into digital payments last year in India with its UPI service. Co-founder Nami Zarringhalam had earlier informed that the company is incorporating payments as a core part of its offerings. Commenting on the recent a...
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Amazon to Launch Audible Service During Diwali in India
13Jun By Lavina TolaniNo Comments
Tech

Amazon to Launch Audible Service During Diwali in India

E-commerce giant Amazon is set to debut its audiobook and entertainment business Audible in India during the Diwali season, as reported by familiar sources. The company has already announced a six-book deal with India's most renowned English author, Chetan Bhagat as a part of which it will publish these books globally in print, eBook and audio formats, with the first title expected to be out in October 2018. Meanwhile, Amazon is also looking for a reduction in GST on ebooks before it can go ahead with locally produced Audible books narrated by Indians. Interestingly, e-books attract 18% GST compared to none in physical books. An Amazon spokesperson's said in an email statement as reported by ET, We are always looking to continue to develop our offerings on behalf of our global me...
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SEBI sets up Expert Panel to Facilitate Attractive Startups Listing
13Jun By Lavina TolaniNo Comments
INDIA

SEBI sets up Expert Panel to Facilitate Attractive Startups Listing

Market Regulator, The Securities and Exchange Board of India (SEBI) has constituted an expert committee to look into the existing Institutional Trading Platform framework (ITP) to suggest measures that could facilitate the listing of startups. At the same time, SEBI is also examining the possibility of allowing unlisted Indian companies to directly list equity overseas while also allowing foreign companies to list directly on the Indian bourses. In its official statement, SEBI was quoted saying, Considering the evolution and internationalisation of the capital markets, it would be worthwhile to consider facilitating companies incorporated in India to directly list their equity share capital abroad and vice versa. The nine-member panel board will include representatives from the I...
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Kodak Aims to Make Big in E-commerce to boost TV sales
12Jun By Lavina TolaniNo Comments
Tech

Kodak Aims to Make Big in E-commerce to boost TV sales

The American technology giant Kodak known for its historic photography niche that marked a reentry in 2016 into the Indian market, is now eyeing to make it big in the white goods segment with India in its crosshairs. The company is reportedly signing brand licencing deals that will mean for us to see more of Kotak branded washing machines, microwaves, air conditioners and more launching in the country.   Kodak to aggressively opt for more licensing deals in India Commenting on from their inception to latest strategy, Avneet Singh Marwah, Director and CEO of Super Plastronics Pvt Ltd said, We launched Kodak televisions in 2016 in India. Initially, we had partnered with e-commerce player Shop Clues. After receiving feedback from the market, we had then partnered with Flipka...
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Lifestyle Media Platform Raises Funding From Television Actor Ranvijay Singh Singha
12Jun By Lavina TolaniNo Comments
FUNDING

Lifestyle Media Platform Raises Funding From Television Actor Ranvijay Singh Singha

Digital Media platform What's Up Life has raised fresh funding from actor and television personality Ranvijay Singh Singha, who will now also be the brand ambassador for the organisation. Based in Gurugram, What's Up Life was founded in 2014 by Gaurav H Luthra. The platform is involved in content development for editorials, social media pages, calendar keeping users abreast of the latest happenings and events across categories. Confirming on the investment, Ranvijay Singh said,“I liked the platform and the way ‘What’s Up Life’ is reaching out to people with their engaging content and events.” While, sharing the good news Gaurav H Luthra, discussed how the organisation is looking for expansion planning to operate in Mumbai, Bengaluru, Pune, Chandigarh and Jaipur in the next six mon...
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Qatar takes UAE to UN Court over Human Rights Violation
12Jun By Lavina TolaniNo Comments
MIDDLE EAST

Qatar takes UAE to UN Court over Human Rights Violation

The government of Qatar has alleged UAE over human rights violation and now is taking it to the UN International Court of Justice (ICJ) as cited to the official Qatar News Agency (QNA). The move has come a year after Qatar accused of "terrorism" tied diplomatic and trade relations with Saudi Arabia, Bahrain and Egypt. On the other hand, Doha has repeatedly rejected the allegations as "baseless". According to the government statement,"As set forth in detail in Qatar’s application to the International Court, the UAE led these actions, which have had a devastating effect on the human rights of Qataris and residents of Qatar." Qatari Foreign Minister Sheikh Mohammed bin Abdulrahman Al Thani said, The unlawful measures imposed by UAE have torn apart families, with parents being separa...
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Railway PSU RITES aims for $550 Mn valuation in IPO
12Jun By Lavina TolaniNo Comments
Market

Railway PSU RITES aims for $550 Mn valuation in IPO

The public sector undertaking (PSU) of Indian Railways, RITES is looking forward to Rs. 3700 crore valuation in its initial public offering slated for June 20-22. RITES, which is a state-owned railway consultant has designated a price band of Rs. 180-185 apiece resulting in an IPO size of Rs 466.20 crore. Additionally, there is a Rs. 6 discount that will be given to retail investors and eligible employees. According to the sources, the proposed IPO will involve a sale of 25.2 million shares by the government which also includes the stock reserved for the employees. Meanwhile, another news is ongoing rounds regarding RITES likely to acquire around 25 per cent stake in Indian Railway Stations Development Corporation (IRSDC), the nodal agency for the redevelopment projects. The gover...
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Unicorn India and Ascension Ventures Launch a Cross Border Fund
12Jun By Lavina TolaniNo Comments
FUNDING

Unicorn India and Ascension Ventures Launch a Cross Border Fund

Unicorn India, a Mumbai based early stage VC has collaborated with British counterpart Ascension Ventures to launch a cross-border evergreen fund between two countries. Dubbed as "Unicorn Ascension EIS Fund", it is an open-ended fund (Enterprise Investment Scheme)that aims to raise up to Rs. 45 crores ( £5 million approx) per year with investments at the pre-series A stage across 6-8 UK-based startups building products and services relevant to the Indian market. An Enterprise Investment Scheme, abbreviated as EIS is a tax relief scheme offered by UK government that allows investors to avail income tax relief for their investments into small companies based in the UK. Chair of the audit committee at Koovs and former partner at KPMG UK, Nina Amin will lead the investment committee f...
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Marketing Head Daman Soni steps down from MobiKwik
12Jun By Lavina TolaniNo Comments
News

Marketing Head Daman Soni steps down from MobiKwik

Digital Wallet Firm MobiKwik's marketing and growth department head, Daman Soni has resigned from his post, marking another senior level exit from the company. While the firm witnessed a growth as compared to its previous reports it has lost some prominent employees in its senior level hierarchy in a span of last 6-8 months. A year back in November 2017, Akash Gupta Vice President and marketing head to walked away to launch his own green tech venture. Earlier, Vineet Singh, Chief Business Officer too had stepped down in April this year. Additionally, Rukaiya Rangwala, head at payment gateway business also called a quit in April, while retail head Vivek Sinha resigned in May. Soni has confirmed his exit informing that he would be looking at fresh opportunities in the mobile tech...
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