Friday, March 29

Author: Priyanka

Try & Buy Fashions Raises $1 Mn From Venture Catalysts
FUNDING

Try & Buy Fashions Raises $1 Mn From Venture Catalysts

World's first real-life virtual trial room Try & Buy Fashions raises $1 million funding. The company is planning to bring online shopping as close to the offline experience as possible by allowing trying and buying of apparel through virtual stylists and virtual trial rooms. "VCats is a great platform that endeavours to back early- stage companies such as ours with the right mentorship and financial support. While we have already made our game strong in the industry through our tech, products and patent ring fencing along with 5 years of deep research in solving the problem of understanding the body shape of men and women, this Pre-Series A funding will further propel our growth," said Nikki, Innovation Head, Try & Buy. Try & Buy creates lifelike animated 3D models of user...
Softbank Net Profit Surges Record 50 Fold After Flipkart Acquisition
BUSINESS

Softbank Net Profit Surges Record 50 Fold After Flipkart Acquisition

Masayoshi Son led Japanese leading tech company SoftBank net profit soared more than 50-fold from a year earlier to 313.7 billion yen (USD 2.8 billion) in the latest quarter thanks to Flipkart acquisition and coworking space Wework growth in India. Last year in the same quarter, SoftBank's profits slumped to 5.5 billion yen due to its investment in Chinese e-commerce company Alibaba. Sales in the April-June quarter edged up 4 percent to 2.3 trillion yen. The value of the fund's stake in Flipkart increased 164.3 billion yen after Walmart agreed in May to buy it. Sales were flat at SoftBank's U.S. mobile provider Sprint, dropping 0.4 percent to USD 8.1 billion. The Tokyo-based company realized a one-time gain of 161.3 billion yen from the sale of a large share in the Chinese o...
Tata Motors Invests First Time in a Startup, Acquires 26% Equity
ACQUISITION

Tata Motors Invests First Time in a Startup, Acquires 26% Equity

India's biggest automobile company Tata Motors acquired 26% stakes in a tech-based freight aggregator TruckEasy. This is the first investment in a startup being done through Tata Motors Finance Holdings, a wholly-owned subsidiary of Tata Motors. However, the company did not disclose the amount. The Bengaluru based startup Truckeasy will use this investment to expand its footprint in other cities. Bengaluru based logistics company TruckEasy registered as a Loginomics Technologies Solutions Ltd, was formed in 2015 providing service for transporting needs of businesses within the city. As per the information on the website, TruckEasy transport anything within Bangalore using Light commercial vehicles. You can rent Tata Ace, Super Ace at the click of a button. Sign up and book mini...
Facebook Applying Security Measures Ahead of Pak Elections
News

Facebook Applying Security Measures Ahead of Pak Elections

Facebook has enhanced its security measures to protect the integrity of the July 25 general elections in Pakistan and prevent the spread of false news, a spokesperson for the social media giant, which has been plagued by a massive data leak scandal, said. Facebook founder Mark Zuckerberg had to face a grilling in the US and in the European Parliament over the Cambridge Analytica scandal, in which Facebook was accused of unduly influencing the 2016 US electoral process. Sarim Aziz, Facebook's spokesperson in Pakistan, said that for the coming elections in Pakistan the company had increased its safety and security staff to monitor all activities connected with the elections and to protect the integrity of the elections. "We have increased the number of safety and security people on our ...
Despite of Data Controversy, Facebook Stock Closes All Time High
Market

Despite of Data Controversy, Facebook Stock Closes All Time High

The social media giant Facebook stock closes at an all-time record high of USD 203.23. Despite Cambridge Analytica data scam controversy, Facebook is still fetching a good number of returns. Investors are loving the social network more than ever that saw its stocks dipping earlier in 2018 after the scam controversy hits. Facebook revenue projections for 2020 at USD 87.5 billion. The firm currently has Facebook with a buy rating and a price target of $275. "Messenger has been deploying more ads in recent weeks and should be “highly material” to profits. And Instagram has reached 1 billion monthly active users," the company said today. ALSO READ: Online Startup SaleBhai Received BSE Approval for SME IPO After grabbing attention in 2012, Facebook has seen its stock rise...
What is Aadhar, Eligibility and Process to Download Aadhar Using Name and DOB
INDIA

What is Aadhar, Eligibility and Process to Download Aadhar Using Name and DOB

Aadhar Card is a 12 digit unique identification number issued by the UIDAI (Unique Identification Authority of India). The Aadhar card is based on a person’s biometric and demographic data. Aadhar card has become a very crucial document in India and is linked to a wide range of services like bank account, passport, etc and government benefit schemes like LPG subsidy, pension payment, etc. In fact Aadhar card has made life easier as just one card serves as both identification and residential proof.   How to get an Aadhar Card The applicant needs to head to their nearest Aadhar Enrolment Centre, fill the form, provide necessary document and information, get his/her biometrics recorded and finally collect the acknowledgement slip. An applicant can check the status of their application o...
Mahindra Electric Collaborated With Cab Aggregator for E-vehicle Service
BUSINESS

Mahindra Electric Collaborated With Cab Aggregator for E-vehicle Service

Mahindra Group and online taxi aggregator company Meru cabs announced a collaboration for a pilot Electric Vehicle project in India. As per the press release by the Mahindra Group, the pilot project will see Meru deploy a fleet of eVeritos, the all-electric sedan by Mahindra and the model will be replicated in other cities soon. Mahindra Electric CEO, Mahesh Babu said, "As pioneers of electric mobility, we at Mahindra Electric are happy to lead electric fleet adoption in India and are glad to partner with Meru for pilot deployment of eVeritos in Hyderabad." "This is definitely going to make it easier for the city to adopt EV technology and will also be in line with our constant endeavor to make EVs more accessible to a larger urban population. We are now looking forward to working...
IKEA Invest up to 3000 Crore in India, Will Open 25 Stores by 2025
BUSINESS

IKEA Invest up to 3000 Crore in India, Will Open 25 Stores by 2025

Swedish home furnishings chain IKEA today said it has signed a memorandum of understanding (MoU) with the Gujarat government to set up its stores in the state with an expected investment of up to Rs 3,000 crore in the long term. IKEA, which received government approval in 2013 for its Rs 10,500-crore proposal to open retail stores under 100 percent FDI, has earlier signed MoUs with Karnataka, Telangana, Maharashtra, Uttar Pradesh and Haryana to open retail stores. The company plans to open 25 stores by 2025 in nine Indian cities. The MoU with Gujarat government stands for a mutual commitment from both parties and intends to provide clarity on working methods and ensure a legally and ethically compliant, corruption-free business environment, IKEA said in a statement. "Gujarat is...
Accel Partners Invests Rs 40 Crore in Online Logistics Startup
FUNDING

Accel Partners Invests Rs 40 Crore in Online Logistics Startup

Accel Partners, a private equity investment firm has invested about Rs 40 crore in online freight logistics firm Cogoport. In a press release, the Cogoport said, "it has secured Series A funding round from Accel Partners, however, the company did not disclose the amount it has raised but according to our sources the amount is around 40 crore." "The fund will enable Cogoport to invest in developing new products and fuel business growth by expanding globally and increase its footprint in the domestic market," the statement said. Cogoport is an online international freight exchange currently offering price discovery and booking using a data-driven technology solution. Incorporated in May 2016, Cogoport provides end-to-end global freight solutions for importers and exporters. The b...
Reliance Jio Could Boost India’s GDP by 5 Percent
ANALYSIS

Reliance Jio Could Boost India’s GDP by 5 Percent

Highlights The report released by the Institute for Competitiveness, India seeks to analyze the impact of Reliance’s entry into Telecom on the Indian economy   Jio has managed to change the face of the Indian telecom industry by changing the basis of competition from being voice-based to a data-based platform   The analysis shows that Jio has significantly increased the accessibility and affordability of data. Merely by reducing data prices even the most conservative estimates show that due to Reliance's entry the annual financial savings to the consumer has been to the tune of $10 billion.   Due to improved accessibility and affordability of data our country became the highest mobile data user all over the world within a span of just six months since the launc...
Fintech Startup Raises $2 million Pre series A Funding
FUNDING

Fintech Startup Raises $2 million Pre series A Funding

SmartCoin, a Bengaluru based Fintech startup raises $2 million funding in pre-Series A round from a top Chinese VC fund and Accion Venture Lab. An existing investment group Unicorn India Ventures also participated in the round, along with ISME ACE, a leading fintech accelerator. This funding round will use to expand the team and operation with an aim to cover a much larger customer base. SmartCoin is a mobile app based lending platform, capable of assessing the risk profile of a prospective borrower in real time, using data science and machine learning algorithms. "With this round, we expect to grow the momentum and further scale 10X over the next six to twelve months. Having specialists as investors, who are passionate about micro-lending, on board will only help us cover more g...
These Tweets Reveal How “India’s Two Leading Parties” Data Can be Easily Hack
INDIA

These Tweets Reveal How “India’s Two Leading Parties” Data Can be Easily Hack

CleverTap, a five-year-old US-based startup founded by three Indians is facing the heat after a pseudonymous researcher alleged that Indian PM Modi's Namo app was disclosing private information like name, email, mobile number, device information, and location, to servers controlled by the firm without the user's consent. The hacker & researcher known as Elliot Alderson on twitter, in a series of tweets, pointed the privacy lapses in the NaMO App and alleged that mobile marketing platform CleverTap was the beneficiary of the data transfer. Tweet 1- 1/ In this request, the @narendramodi's #Android #application sends silently and without the user's consent, his IP address and a unique identifier of his phone. This personal data is sent to the website https://t.co/XTWhe9kc5T whic...