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Author: Priyanka

Artificial Intelligence Startup ParallelDots Raises $1.4 Mn Funding
11Oct By PriyankaNo Comments
FUNDING

Artificial Intelligence Startup ParallelDots Raises $1.4 Mn Funding

Artificial Intelligence and deep learning startup ParallelDots has recently raised $1.4 million (around Rs 9.1 crore) in a fresh round of funding from its existing investor Multipoint Capital LLC. Delaware, US and Gurgaon, India based AI startup was founded in January, 2014 by Angam Parashar along with Ankit Narayan Singh and Muktabh Mayank and incubated at TLabs, a startup incubator managed by Times Internet. The newly infused capital will be use by the startup to increase the headcount of its technology team, as well as to support its expanding global footprint. The money will also be spent on general operational expenses. ALSO READ Google Uncovered Russia-Backed Ads on YouTube, Gmail : Source     ParallelDots earlier raised a funding of $600K from Multipoint...
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Virtual and Augmented Reality Startup GridRaster Bags $2 Mn Seed Funding
10Oct By PriyankaNo Comments
FUNDING

Virtual and Augmented Reality Startup GridRaster Bags $2 Mn Seed Funding

Palo Alto, California and Bengaluru based startup GridRaster, bagged a seed funding of $2 million from a clutch of investors including Exfinity Ventures, Lumia Capital, Pipeline Capital, NexStar Partners, Unshackled Ventures and Explorer Group. The startup works on enabling high-end virtual and augmented reality experiences on mobile devices, using multiple stack approach. The company plans to utilize the fund in the development of their product and its marketing. The USP of the startup is its ability to host high-quality graphics, around 10 times better, the startup claims. GridRaster claims it solves this problem by hosting the underlying infrastructure on the cloud and managing loads across servers independently. This helps to optimize VR/AR content within the available bandwid...
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Home Decor Startup MyGubbi Raises $2.7 Mn Pre-Series A Funding
9Oct By PriyankaNo Comments
FUNDING

Home Decor Startup MyGubbi Raises $2.7 Mn Pre-Series A Funding

Customized home interiors decor startup MyGubbi has raised $2.7 million pre-series A funding led by the family office of Firoze Irani; Vipul Parekh(co-founder BigBasket), Ananda Kallugadde(co-founder of NeoBytes) and Rajesh K Murthy(President Infosys), among others. Founded by Umesh Sangurmath and Ravi Rao in 2015, MyGubbi (Kannad for 'My Sparrow'), the startup aims on the interior design and furnishing solutions; allowing its customers to design their dream homes. The company earlier raised a funding of around $2.5 million by Vipul Parekh and others. ALSO READ   20 Years Old AOL Instant Messenger To Sign Off   The funds raised will be utilized to grow the business. "We would look at going deeper into existing markets, as well as strengthen our backend. We are a...
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M&M Says Price Quoted By Tata For Electric Cars Is ‘Hard To Comprehend’
6Oct By PriyankaNo Comments
INDIA

M&M Says Price Quoted By Tata For Electric Cars Is ‘Hard To Comprehend’

Mahindra & Mahindra, the sole maker of electric cars says the bid by rival Tata Motors which it bid in the contract with Energy Efficiency Services (EESL) is too low. “We find the price (quoted by Tata Motors) hard to comprehend,” Mahindra managing director Pawan Goenka said. Last week, Tata Motors offered to supply the electric vehicles at Rs 11.2 lakh each, inclusive of the GST and a five-year warranty. Mahindra quoted more than Rs 13 lakh and subsequently agreed to match the bid by Tata Motors to win part of the order. The tender was for 10,000 vehicles. Tata Motors earlier was supposed to supply the electric vehicles (EVs) in two phases– 500 e-cars in the first phase in November 2017 and the remaining 9,500 EVs in the second phase. But now, since M&M has qualified, it will...
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After Tata, Mahindra & Mahindra Bagged The Electric Car Contract From Indian Government
5Oct By PriyankaNo Comments
BUSINESS

After Tata, Mahindra & Mahindra Bagged The Electric Car Contract From Indian Government

State run Energy Efficiency Services (EESL) on Wednesday said that Mahindra & Mahindra has matched the Tata Motor's lowest bid price to supply 150 electric vehicles. The stocks of Mahindra & Mahindra shot up by 2% as soon as the it grabbed the deal. "Post the tender opening, Tata Motors had emerged as the lowest bidder and Mahindra as the second lowest bidder. Mahindra has agreed to match the lowest bidding pricing for phase I and has, therefore, qualified to supply 150 electric vehicles, as per the tender conditions," State-run Energy Efficiency Services Limited (EESL) said in a statement. Tata Motors earlier was supposed to supply the electric vehicles (EVs) in two phases– 500 e-cars in the first phase in November 2017 and the remaining 9,500 EVs in the second phase. But now...
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Know Why Sandeep Aggarwal Filed FIR Against Wife and ShopClues’ Co Radhika
30Sep By PriyankaNo Comments
News

Know Why Sandeep Aggarwal Filed FIR Against Wife and ShopClues’ Co Radhika

E-tailer ShopClues' founder Sandeep Aggarwal, had filed a FIR against his estranged wife and co-founder Radhika Ghai Aggarwal, co-founder and CEO Sanjay Sethi and Sethi’s wife Nupur Sethi three days ago, accusing them of cheating, criminal conspiracy and revoking his voting rights by fraudulently changing the pages of the documents he signed. The issue over the control surfaced nearly six months ago when Sandeep accused Radhika and Sanjay of thwarting his return to the company. Aggarwal had to give up his membership on board due to insider trading charges in the US in 2013. Recently the High Court gave its order that “no coercive steps be taken against the petitioner till the next date”, i.e. October 16 (the petitioner: Ghai Aggarwal and Sanjay Sethi). "The Honorable Court was ple...
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Amazon, Flipkart, Snapdeal Accused of Violation of FDI Norms
25Sep By PriyankaNo Comments
BUSINESS

Amazon, Flipkart, Snapdeal Accused of Violation of FDI Norms

Confederation of All India Traders (CAIT), leading advocate for small traders and businesses in India, with around 6 crore merchants across 40000 affiliates, urged the government to take action against e-commerce firms like Amazon and Flipkart, accusing them of violation of FDI norms by undertaking retail trading activities. (more…)
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Paytm In Talks To Acquire Online Travel Company Via.com
19Sep By PriyankaNo Comments
ACQUISITION

Paytm In Talks To Acquire Online Travel Company Via.com

One97 Communications' Paytm is in discussions and likely to acquire online travel company Via.com as it doubles down on its travel and hospitality business. Paytm has held preliminary discussions although a term-sheet is yet to be signed, according to some people aware of the developments. The valuation of Via.com could could hit as high as $80 million for the sale, according to the source VCCircle. Bengaluru-based Via.com, backed by venture capital investors including IndoUS Venture Partners and Sequoia Capital, had earlier raised about $15 million in funding. The company was founded in 2007, formerly known as FlightRaja has 100,000 active travel partners across 2,600 towns and cities, and covers more than 13,000 pin codes across Asia. RELATED   Paytm In Talks To Acq...
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San Francisco Based Slack Raises $250 Mn From SoftBank Vision Fund
18Sep By PriyankaNo Comments
FUNDING, USA

San Francisco Based Slack Raises $250 Mn From SoftBank Vision Fund

San Francisco based Slack Technologies Inc. raises $250 million funding round led by SoftBank Group Corp.’s Vision Fund, valuing the startup at $5.1 billion. According to the reports, Slack will be utilising the funds for expansion in an increasingly competitive market for workplace messaging services. The Vision Fund was joined by Accel and other investors, Slack said on Sunday. Slack, which originally pitched as a dead-simple collaboration tool, is now looking to become more of a go-to for larger businesses as it faces a very competitive field with products from Microsoft and Atlassian. Slack earlier in this month reported that it has more than 6 million daily active users and has crossed around $200 million in annual recurring. ALSO READ   SoftBank Founder Masayoshi S...
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