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Apartment Security App myGate Raises Rs 16Cr

18Jan By PriyankaNo Comments

FUNDING

Apartment Security App myGate Raises Rs 16Cr

Bengaluru based apartment security management solution provider myGate has raised Rs 16 crore funding in a round led by Prime Venture Partners. Founded back in 2016 by Vijay Arisetty, the platform comprises of Android/iOS apps for security guards and residents that digitally logs in the visitors' exits and entries, thereby eliminating the traditional "paper and pen system." The company is planning to revamp the technology its platform uses and strengthen its geographical presence in Pune, Hyderabad and Delhi-NCR. "We are looking at scaling up to 2 million homes across the top 7 cities within the next two years," Arisetty said. The security services market in India is valued approximately at $6 billion, out of which gated-premise security market is worth $2 billion, as per the r...

IndiaMart, Taobao Figure in US Notorious Markets List

15Jan By PriyankaNo Comments

USA

IndiaMart, Taobao Figure in US Notorious Markets List

Popular Indian portal IndiaMart. com and Delhi wholesale market Tank Road have figured among the annual American notorious markets list which was released today and is topped by China. The list released by US Trade Representative (USTR) highlights 25 online markets and 18 physical markets around the world that are reported to be engaging in and facilitating substantial copyright piracy and trademark counterfeiting. "The Trump Administration is committed to holding intellectual property right violators accountable and intensifying efforts to combat counterfeiting and piracy," he said. The 2017 Notorious Markets List maintains its special focus on the distribution of pirated content and counterfeit goods online. This years report highlights illicit streaming devices as an emergin...

Lendingkart Raises Rs 30 Cr From Dutch Development Bank

10Jan By PriyankaNo Comments

FUNDING

Lendingkart Raises Rs 30 Cr From Dutch Development Bank

Lendingkart Finance on Tuesday said it has raised Rs 30 crore in non-convertible debentures (NCDs) from Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden NV (FMO), a Dutch development bank that invests in growth and frontier markets. This new influx of debt funds will be used towards growing the loan book and expanding the reach of Lendingkart Finance across SME industries, Lendingkart said in a statement. As of today, Lendingkart Finance has disbursed over 20,000 loans to more than 13,000 SMEs across 23 sectors. "With a committed portfolio of 9.8 billion euros, FMO is one of the larger bilateral private sector development banks globally... This being our first foreign debt raise will open avenues for Lendingkart Finance's future foreign debt funding as well," Lendin...

Paytm Set up Wealth & Money Management Service “Paytm Money”

10Jan By PriyankaNo Comments

News

Paytm Set up Wealth & Money Management Service “Paytm Money”

India's leading online paymen service Paytm set up ‘Paytm Money Limited’ to build Investment & Wealth Management products for users. The product will be launch in the first quarter of 2018 after regulatory approvals. During the launch, Paytm CEO & Founder, Vijay Shekhar Sharma said, “We started as a payments platform and expanded customer offerings to deposits with Paytm Payments Bank. Today, with Paytm Money, we have taken the next logical step in the direction of wealth management. Pravin and his team is on a mission to make wealth management easier and accessible to large number of Indians. We aim to increase the size of the wealth management strategy customer base and bring simple and easy to understand wealth products to our consumers.” Pravin Jadhav will lead this new v...

Flipkarts Payment Arm PhonePe Collaborated With Rival FreeCharge

10Jan By PriyankaNo Comments

News

Flipkarts Payment Arm PhonePe Collaborated With Rival FreeCharge

Flipkarts payment wallet PhonePe today said it has partnered mobile wallet company FreeCharge to allow the latters customers pay for transactions at PhonePes partner merchants. According to the deal terms, PhonePe has now enabled its over 45 million users to link their existing FreeCharge wallets to the PhonePe app, PhonePe said in a statement. Once linked, PhonePe customers will be able to spend their FreeCharge wallet balance at all online and offline merchant outlets that accept payments via PhonePe, it added. "This is in line with our vision of making PhonePe Indias first truly open payments platform, where customers can use any and all payment instruments of their choice," PhonePe Head Banking Products and Strategic Partnerships Hemant Gala said. To pay via FreeCharge on P...

Editors Guild Condemns FIR Against Tribune Reporter Who Exposed Aadhar Leaks

8Jan By PriyankaNo Comments

INDIA

Editors Guild Condemns FIR Against Tribune Reporter Who Exposed Aadhar Leaks

The Editors Guild of India is deeply concerned over reports that the Deputy Director of the Unique Identification Authority of India (UIDAI) had registered an FIR against Rachna Khaira, a reporter of The Tribune, in the Crime Branch of the Delhi Police. The reporter has been booked under IPC sections 419 (punishment for cheating under impersonation), 420 (cheating), 468 (forgery), 471 (using a forged document) and also under sections of the IT Act and the Aadhar Act. The Tribune report of January 3 by Khaira had exposed how, for a small sum of money made to a payment bank, an agent of a private group would allegedly create a gateway to access details contained in an individual’s Aadhar card. Using a false identity, Khaira had posed as an interested party and claimed in her report that s...

Apple Acquires Canadian App Development Service Buddybuild

3Jan By PriyankaNo Comments

ACQUISITION

Apple Acquires Canadian App Development Service Buddybuild

Apple still struggles to let developers make apps easily for its platform. In such an effort, the iPhone maker has acquired Vancouver-based app tool startup- Buddybuild- a mobile iteration platform focusing on continuous integration and debugging tools. Buddybuild makes it easier for developers to develop an app by providing them a simple workflow for iterating and pushing their apps to the users through GitHub, GitLab or BitBucket. "We're excited to share that the buddybuild team has joined the Xcode engineering group at Apple to build amazing developer tools for the entire iOS community." Buddybuild said in a bog-post. As part of the deal, Buddybuild will be rolled into Xcode, Apple’s suite of development tools for iOS, macOS, watchOS and tvOS. As for Buddybuild's existing cu...

Salil Parekh as CEO is a Huge Positive for Infosys: T V Mohandas Pai

3Jan By PriyankaNo Comments

Entrepreneurs Talk

Salil Parekh as CEO is a Huge Positive for Infosys: T V Mohandas Pai

Salil Parekh taking over as CEO is hugely positive for Infosys as he is a team builder who understands the business and changing market environment, says the company's former chief financial officer T V Mohandas Pai. Parekh being based in Bengaluru, the NASDAQ-listed companys headquarters, would also make a huge difference as most clients visit the campuses before they sign the deals and the teams working on their projects there, Pai told PTI. "It (Parekh as CEO) is hugely positive for Infy. They will have a CEO who understands the services business, who understands the changes that are happening and what needs to be done," he said. "He is a customer-facing person and thats exactly the kind of talent thats required. Working in a services company (in Capgemini where he worked earli...

27Dec By PriyankaNo Comments

FUNDING

Lendingkart Raises Rs 25 Cr. In Debt Funding From SBI

Online money lending platform Lendingkart has recently raised Rs 25 crore debt funding from State Bank of India. In a press release, Lendingkart said that the funding is in the form of cash credit facility which will allow the company to draw the amount over separate tranches as and when required. This investment also marks the entry of public sector banks in a rush to reach out to more borrowers by backing up startups in the field. Earlier, Lendingkart got backed up by private banks- Yes Bank and Kotak Mahindra. “We feel extremely privileged to have partnered with India’s largest bank which also shares the same vision of supporting the unbanked SME (small and medium enterprise) sector,” said Harshvardhan Lunia, co-founder and chief executive officer at Lendingkart. “SBI, being...

This New Year, Lose All Negative Thoughts About Your Body

25Dec By PriyankaNo Comments

BLOGS

This New Year, Lose All Negative Thoughts About Your Body

Is shedding weight on your list of New Year resolutions? Scientists suggest that losing the critical thoughts and negative perceptions about your body may be a better idea. Every year, many of us pledge to work harder at being healthy, losing weight or eating more veggies. Researchers from the Florida State University (FSU) in the US tested a new programme encouraging body acceptance and saw dramatic results. "Consider what is really going to make you happier and healthier in 2018: losing 10 pounds or losing harmful attitudes about your body?" said Pamela Keel, Professor at FSU. Body dissatisfaction is a pervasive problem, especially among young women. Over the past 35 years, the ideal body type has become virtually unattainable for most people, and that creates a mismatch w...

Narayana Murthy Dismissed Threats From Artificial Intelligence, Call it “More Hype than Reality”

24Dec By PriyankaNo Comments

News

Narayana Murthy Dismissed Threats From Artificial Intelligence, Call it “More Hype than Reality”

Infosys co-founder NR Narayana Murthy has flayed the high wage hikes that senior managements have been apportioning to themselves when the software industry is in trying times and has advised them to make "sacrifices" to maintain common mans faith in capitalism. Conceding that times are difficult for the IT services sector, Murthy dismissed the commonly attributed threats of artificial intelligence and automation as "more hype than reality". Terming the trend of no hikes for juniors and freshers as "worrisome," Murthy rued that the senior level people have been taking handsome hikes. "I think that is not the way to make capitalism acceptable to the larger masses in a country that has huge poverty," he said, speaking at the IIT-Bombay over the weekend. "If we believe in capitalism, ...

TCS Secures Record $2.25 Billion Deal From Nielsen

23Dec By PriyankaNo Comments

INDIA

TCS Secures Record $2.25 Billion Deal From Nielsen

Those who are saying that the days of Indian IT industries are over are now yet to rethink because one of India's leading IT exporter Tata Consultancy Services (TCS) has bagged a record USD 2.25-billion outsourcing contract from Nielsen, a television rating measurement firm. The partnership, signed in October this year, is a renewal of TCS existing collaboration with Nielsen. The two companies had struck a 10-year deal in 2008 for USD 1.2 billion, which was expanded to USD 2.5 billion in 2013. Under the new deal, the terms of the agreement have been extended for an additional five years so as to expire on December 31, 2025, with three one-year renewal options granted to Nielsen, the TV rating company said in a regulatory filing to the US SEC. "Nielsen has committed to purchase servic...