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26May By PriyankaNo Comments

FUNDING

Online Tax Returns Filing Platform ClearTax Raises $2 million (Rs 13.3 crore) Funding

Online tax returns filing platform ClearTax, has raised $2 million (Rs 13.3 crore) from FF Angel, and Sequoia Capital. The company will use the proceeds from the round to launch a slew of consumer-focused tax-saving products, including mutual funds and other equity-linked saving schemes. "We have taken the long route, and now we are extremely excited to have some of the biggest thought leaders and investors on board as our partners," Archit Gupta, co-founder of Cleartax said. "We are an instrument-agnostic platform that will allow consumers to choose their rate of return and select what to have in their tax savings basket." ClearTax has over 1 million consumers e-filing their tax returns, and the company is targeting bringing on board 5 million users by the end of the current fiscal,...

One More Down, Tech Mahindra Pulled Out From Payments Bank Race

24May By PriyankaNo Comments

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One More Down, Tech Mahindra Pulled Out From Payments Bank Race

IT firm Tech Mahindra today said it will not pursue its plans to set up payments bank operations in the country, becoming the third player to pull out from the race. "With reference to the earlier communication dated August 20, 2015, about the in-principle approval granted by RBI for setting up a payments bank, Board of Directors of the company have decided that the company will not pursue this opportunity," it said in a filing to the BSE. Sun Pharma founder Dilip Shanghvi who along with IDFC Bank and Telenor got in-principle approval from the Reserve Bank for payments bank, also pulled out of the race last week. A couple of months back, Cholamandalam group also dropped plans of setting up a payments bank. "It was a conscious decision that we wanted to be in this business. We ...

23May By PriyankaNo Comments

News

Tata Cliq Tie-up With Genesis Fashion Brand

Tata Groups upcoming e-commerce platform TataCLiQ.com today entered into a strategic partnership with Genesis Luxury Fashion to sell a wide range of international luxury brands exclusively in India. Genesis is the marketing and distribution partner for more than 14 international brands, including Burberry, Hugo BOSS, Jimmy Choo, Giorgio Armani, Emporio Armani, Armani Jeans, Canali, Michael Kors and Paul Smith, in India. This alliance will make TataCLiQ.com the only authorised partner to offer several international luxury brands in India that the Genesis represents, the company said in a statement. Partnering with Genesis will help TataCLiQ.com get some of these brands online in an authentic and authorised manner to the consumer. TataCLiQ.com CEO Ashutosh Pandey said: "Together,...

Exclusive: Dilip Shanghvi, IDFC Bank Withdraw From Payments Bank

20May By PriyankaNo Comments

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Exclusive: Dilip Shanghvi, IDFC Bank Withdraw From Payments Bank

Telenor Financial Services, IDFC Bank and Sun Pharma's Dilip Shanghvi have decided to withdraw their licence to set up a payments bank. They are the second applicant to withdraw from the licence after Cholamandalam group pulled out of payments banks race a couple of months back. In a joint press statement, the partners said: "Dilip Shanghvi, IDFC Bank and Telenor Financial Services jointly agree to withdraw plans to establish a payments bank venture and consequently the payment bank licence will not be pursued." Last September, Dilip Shanghvi, Chairman of Sun Pharma, as lead applicant along with Telenor Financial Services and IDFC Bank, was granted in-principle licence by Reserve Bank to form a payments bank. "Following the mutual decision to withdraw from setting up a payments bank,...

Meet Google New Army – ‘Google Assistant’, ‘Google Home’, ‘Allo’ ‘Duo’ And Android N

20May By PriyankaNo Comments

News

Meet Google New Army – ‘Google Assistant’, ‘Google Home’, ‘Allo’ ‘Duo’ And Android N

Internet giant Google's Chief Executive Sundar Pichai has announced several new features like 'Google Assistant', 'Google Home', a new messaging app called 'Allo' and video calling feature 'Duo' at the ongoing I/O (input/output and 'Innovation in the Open') conference in Mountain View, California. 'Google Assistant' helps one with performing daily tasks like booking movie tickets and 'Google Home' is a voice-activated product that lets users enjoy entertainment, manage everyday tasks and get answers from Google. "It makes it easy to buy movie tickets while on the go, to find that perfect restaurant for your family to grab a quick bite before the movie starts, and then help you navigate to the theater. It's a Google for you, by you," Pichai wrote in a blog post. "The Assistant is an am...

Ratan Tata Invest in An Artificial Intelligence Based Chatbot Niki.ai

19May By PriyankaNo Comments

FUNDING

Ratan Tata Invest in An Artificial Intelligence Based Chatbot Niki.ai

Leading industrialist Ratan Tata has invested in niki.ai , an artificial intelligence (AI) based chatbot . The company has also received funding from existing investor Ronnie Screwvala-led Unilazer, it said in a statement. It, however, did not disclose the details of the funding or the total amount it has raised till date. The Tata Sons Chairman Emeritus has made more than 25 investments in startups in the last two years, including online marketplace Snapdeal , digital wallet provider Paytm , cab hailing service Ola, data analytics company Tracxn Technologies, online pet supplies store Dogspot.in and online lingerie store Zivame. Last year, Tata had invested in Infinite Analytics, an artificial intelligence-based predictive analytics startup. Founded in April 2015 by IIT Kha...

18May By PriyankaNo Comments

FUNDING

Bengaluru Based Bhive Co-working Space Raises $1million Funding

BHIVE Workspace, one of the well known brands in Bangalore’s startup ecosystem, has raised about $1 million in funding led by Blume Ventures. BHIVE Workspace is the largest co-working space in Bangalore catering to over 150+ ventures. With this $1 million funding, BHIVE plans to expand strongly in Bangalore while also establishing a presence in the top 6 cities of India. The funds will also be used to attract top talent, build technology that will further enhance customer experience and in turn position BHIVE as an undoubted leader in the office space market. Prior to this, BHIVE had attracted investments, from the likes of Raghunandan G (Founder, TaxiForSure), Rajesh Rai (Venture Capitalist and co-Founder, Venturesity), Arihant Patni (Managing Director, Hive Technologies), Sanjay M...

Logistics Solutions Provider Rivigo Eyes on 3000 Truck Fleet

18May By PriyankaNo Comments

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Logistics Solutions Provider Rivigo Eyes on 3000 Truck Fleet

Eyeing a larger market share, logistics solutions provider Rivigo is banking on drivers relay system for faster delivery of goods and is looking to take its trucking fleet to 3,000 this fiscal. The firm, which has a fleet of 800 trucks, claims that based on its innovative drivers relay system, truck loads are delivered to Chennai from Delhi in two days instead of conventional eight days. "Logistics is one of the largest industries -- more than USD 100-billion size -- and there is enough to do in this market... we started working on the Driver Relay Model wherein we change over the drivers after every few hundred kms... This improves the turnaround time and service levels," Rivigo CEO Deepak Garg said in a statement. Garg, who is an alumnus of IIT Kanpur and IIM Lucknow, is a f...

Tatas E-commerce Platform CliQ to Go Live on May 27

17May By PriyankaNo Comments

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Tatas E-commerce Platform CliQ to Go Live on May 27

Tata Unistore, a Tata group business venture, today announced that its e-commerce platform, Tata CLiQ, will open to consumers from May 27 across its website, mobile site and mobile apps. At the launch, Tata CLiQ will offer consumers a new shopping experience in apparel, electronics and footwear categories. Over the next few months, the plan is to expand the offering by adding many more categories, brands and exciting features, Tata Unistore said in a statement here. Over the past few years, e-commerce in India has been growing at a faster rate than brick-and-mortar retail. Ads by ZINC. According to a Goldman Sachs report released last year, the e-commerce market will account for 2.5 per cent of India's gross domestic product by 2030, growing 15 times and reaching USD 300 billion....

16May By PriyankaNo Comments

FUNDING

Apple Raises One Billion Funding From Warren Buffett Led Company Berkshire Hathaway

Warren Buffett's Berkshire Hathaway Inc revealed a more than $1 billion stake in Apple Inc, a rare foray into the technology sector that the billionaire has largely shunned, apart from a poorly performing investment in IBM. Shares of Apple got a boost from the Berkshire imprimatur, rising more than 3 percent on Monday. Berkshire made its investment in the first quarter, before the iPhone maker in April reported its first quarterly revenue decline in 13 years. In a regulatory filing detailing most of its stock holdings, Berkshire said it held 9.81 million Apple shares worth $1.07 billion as of March 31. The value has since fallen into the low $900 million range. Berkshire's largest technology bet has been Buffett's $12 billion stake in International Business Machines Corp. Apple...

16May By PriyankaNo Comments

FUNDING

Smartivity, an Augmented Reality Based Education Technology Startup Has Raised Rs 6.6 crore Funding

An augmented reality-based education technology startup Smartivity, has raised about Rs 6.6 crore in a pre-Series-A round of funding led by publishing firm S Chand and early-stage investment firm AdvantEdge Partners. The round also saw participation from Singapore-based fund CFG Offshore Holdings, Silicon Valley-based fund Tandem Capital and a clutch of angel investors. The company said the funds will also be used to expand its reach and aim for the global market. “With this round of funding, we want to expand our current portfolio in STEM and augmented reality products to provide interactive learning to kids and also develop IoT (internet of things)-enabled toys and robot-led learning for kids,” said Ashwini Kumar, cofounder of Smartivity. “Smartivity has shown tremendous gro...

Saudi Arabia Blocked Social Networking Giant Facebook’s Messenger Service

16May By PriyankaNo Comments

MIDDLE EAST

Saudi Arabia Blocked Social Networking Giant Facebook’s Messenger Service

In a bid to protect the revenues of traditional telecom companies, Saudi Arabia has now blocked social networking giant Facebook's Messenger service. Internet calling over WhatsApp and Viber were already blocked in Saudi Arabia but similar apps including Tango and Line are still available in the country. Although the authorities claimed that the service has been blocked since it violated regulations, the independent reports. "The service had been banned because it failed to comply with regulations," an official told local news services. експресс займзайм с автоматическим одобрениемзайм онлайн только по паспорту