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20Apr By PriyankaNo Comments

FUNDING

Mobile Fashion App Fashalot Raises Funding From YourNest & Others

Location-based mobile fashion platform Fashalot has received Series-A strategic funding led by YourNest Angel Fund and marquee investor Rahul Garg for an undisclosed amount. The company said it will invest the fund in product development, top talent and accelerating its business growth. Operational in Delhi-NCR and Bengaluru, the brand aims to aggressively ramp up operations in new cities by the end of this year, it said in a statement. "We are on track to be the largest online-to-offline location-based fashion discovery network in India and the capital raised will contribute significantly for us to achieve this goal," Amit Koshal Founder and CEO of Fashalot said. The startup connects shoppers with offline stores through its horizontal network effect platform. It claims to have ...

What’s the Cost of Surfing the Internet? ‘Earth Mode’ Browser Plug-in Will Tell You

19Apr By PriyankaNo Comments

News

What’s the Cost of Surfing the Internet? ‘Earth Mode’ Browser Plug-in Will Tell You

You might not realise it but the amount of time you spend and what you do online takes its toll on the environment. Research* suggests that the average online user consumes 130 kgs of carbon a year - the equivalent to driving 740 km in a car - which could be offset by planting four trees. A new plug-in for Google's Chrome browser launched ahead of Earth Day on Friday (22 April) will help educate people about how much energy they consume online by calculating their digital carbon footprint and, as a result, inspire them to think about their everyday energy efficiency. The new Chrome plug-in comes from Johnnie Walker®, makers of the world's best-selling Scotch whisky, who are partnering with Earth Day Network to urge people to take a small but progressive step towards he...

18Apr By PriyankaNo Comments

ACQUISITION

JK Tyre Completes Rs 2,195 cr Acquisition of Cavendish

JK Tyre & Industries has completed the Rs 2,195 crore acquisition of Cavendish Industries, a Kesoram Industries unit, enhancing its position in the domestic market, especially the truck and bus radial segment. "With the completion of the acquisition of Cavendish Industries we have further strengthened our position in the truck and bus radial segment. It has also given us entry into two and three wheeler vertical," JK Tyre & Industries Chairman and MD Raghupati Singhania told reporters here. The acquisition is in line with strategic vision of JK Tyre to become one of the leading tyre companies of the world having a well rounded portfolio of product offerings, he added. The acquisition brings an additional capacity of 100 lakh tyres to the JK Tyre, he added. Caven...

“It’s Lack of Journalistic Ethics” Said Ola After a Report on Uber Acquisition

16Apr By PriyankaNo Comments

News

“It’s Lack of Journalistic Ethics” Said Ola After a Report on Uber Acquisition

India's leading Taxi aggregator platform Ola and its one of the investors Matrix Partners India denied a report on DNA, which alleged that Uber was acquiring stakes of all the investors, including the founders, except SoftBank, with a term sheet likely to be signed by this quarter. "We would like to state that the article, attributed to an 'unnamed source' is completely false, misleading, malicious and planted in the said newspaper with the intent of causing harm to the Ola brand and creating confusion among our stakeholders." a statement from Ola said. Ola slammed the publication for its lack of journalistic ethics, and said that it will initiate appropriate legal action and seek redressal and compensation from the newspaper for the damage caused due to the report. "We also had received...

Prime Venture Partners Invests $750,000 in KredX

13Apr By PriyankaNo Comments

FUNDING

Prime Venture Partners Invests $750,000 in KredX

Prime Venture Partners today said it has invested USD 750,000 (about Rs 4.95 crore) in KredX, an invoice-discounting platform that connects credit-worthy MSMEs looking to raise working capital against their unpaid invoices to individual financiers. Launched last year by IIT and Stanford alumni Manish Kumar, Anurag Jain and Puneet Agarwal, KredX (previously known as Mandii), enables the growth of micro, small and medium enterprises (MSMEs) by unlocking cash tied up in customer invoices that would otherwise be paid in 30 to 90 days. "There are 36 million SMEs in India. Many of these often struggle to keep their cash flow intact and can hardly withstand the burden of late payments. They are in dire need for working capital. With our technology platform, we are helping them get access to w...

10Apr By PriyankaNo Comments

Story

India’s Affordable Home Automation Module App

A startup by two college students has developed a compact home automation module claiming it to be the most affordable in the market. The prices of 'Smitch' module, ranging from Rs 2,999 to Rs 13,499 and focussing on savings and comfort, will be launched at a consumer fair here on April 21, H R Sanathkumar of PSG College of Technology said. Sanathkumar, also Chief Executive Officer of start up firm Karsan Technologies Pvt Ltd, said the compact smitch module can be placed comfortably behind any existing switchboard and does not require rewiring or change in existing wiring. The product, with its interactive mobile app and on-board timers allows customers to control and schedule any home appliance, he said, adding that it also allows users to optimise energy consumption b...

Digital Ad Spending in India Will Touched $1 bn in 2017, $11.82 billion in 2020: eMarketer

8Apr By PriyankaNo Comments

News

Digital Ad Spending in India Will Touched $1 bn in 2017, $11.82 billion in 2020: eMarketer

Digital ad spending in India is forecast to surpass the USD 1-billion mark, accounting for 14.3 per cent of the total media advertisement outlay, in 2017, a report by eMarketer today said. The report, which pegs the total media advertisement spending to grow to over USD 8.2 billion next year, said advertisers in India will spend more than USD 1.1 billion towards digital advertisement. "This year, just 12.6 per cent of all advertisement spending will go towards digital. In 2017, digital ad spending in India will surpass USD 1 billion and will amount to 14.3 per cent of total outlays. By 2020, the figure will be 20.2 per cent," it added. eMarketer estimated that advertisers in India will spend about USD 7.41 billion on paid placements in all media in 2016, up 11.3 per cent over the ...

A New Smartphone App With Shakespearean Touch

7Apr By PriyankaNo Comments

Story

A New Smartphone App With Shakespearean Touch

To celebrate the 400th anniversary of the world famous playwright, a new smartphone app with Shakespearean touch using text messaging, was launched today. The app is called ShakeSpeak. ShakeSpeak has been developed by software company SwiftKey, best known for their language prediction app. By analysing the Complete Works of Shakespeare they developed an app that helps turn users text messages into Shakespearean prose by predicting the playwrights best known phrases. Swiftkeys app, which is available to download free of cost, allows the user to simply type the first word or two of a famous Shakespearean quote and the technology will do the rest. SwiftKeys Head of Partnerships Sarah Rowley said: "We are delighted to be combining the Bards works with our smartphone ke...

HP Unveils Worlds Thinnest Laptop, Business Notebook

7Apr By PriyankaNo Comments

Tech

HP Unveils Worlds Thinnest Laptop, Business Notebook

Personal computers and printing major HP Inc today launched eight new personal products including the worlds thinnest laptop at 10.4 mm thickness, a calling device, and a business notebook. According to the company, Spectre is the worlds thinnest laptop and has a battery life of up to nine and a half hours. The new calling device, HP Elite x3, is built-for-business mobile device and runs on Windows 10. HP Elite x3 bridges phablet, laptop and desktop to enable users to run key productivity apps across these different experiences seamlessly. The third product launched by the company HP EliteBook Folio is the thinnest and lightest business notebook with 12.4 mm thickness and weighs under 1 kg. It will come with a starting price of Rs 1.30 lakh. HP Envy notebook comes with a 15.6 inch dis...

Google Pulls Taliban App After It Was on Play For Two Days

5Apr By PriyankaNo Comments

News

Google Pulls Taliban App After It Was on Play For Two Days

Internet giant Google has removed a propaganda app created by Taliban militants over hate speech concerns. The App called "Pashto Afghan News- Alemara," that was initially accepted on the Play store, reportedly featured videos and statements from the groups main website. The app, which allowed users to access the groups Pashto website, is part of a growing digital campaign by the Taliban to grow its audience. "We dont allow apps that advocate against groups of people based on their race or ethnic origin, religion, disability, gender, age, nationality, veteran status, sexual orientation, or gender identity," a Google spokesperson said. The company removed an app created by the Taliban from its Play Store on Saturday. The app was reportedly published to Google Play on April 1, 20...

DataWind Going To Set-up a New Manufacturing Unit in Telangana

2Apr By PriyankaNo Comments

News

DataWind Going To Set-up a New Manufacturing Unit in Telangana

Leader in low-cost Internet connectivity for emerging markets, DataWind Inc. is all set to establish its second manufacturing unit in Telangana after a successful unit in Amritsar. The affordable tablet provider in India made Telangana its instant choice after the receptive behavior of the state govt. In an exclusive interview with ANI, CEO Datawind Inc. Suneet Singh Tuli said, "The govt. of Telangana was very receptive towards the idea. They were very aggressive to woo new manufacturers to come into the state. The govt. had already been successful in signing up other phone manufacturers to help set up an ecosystem that further catered to aggressive policies and fast processing time frames." "We made our obvious choice with Telangana due to the positive experience coupled with th...

Flipkart Acquired Third Payments Start-up PhonePe

1Apr By PriyankaNo Comments

News

Flipkart Acquired Third Payments Start-up PhonePe

Bengaluru, 1st April 2016: Flipkart Ltd, India's leading E-commerce platform has acquired payments start-up PhonePe Internet Pvt. Ltd.. The startup was launched last December by former Flipkart executives Sameer Nigam, Rahul Chari and Burzin Engineer. The amount of the deal is not confirmed yet but according to sources, the deal size is between $10 million to $20 million. The PhonePe team will join leading e-commerce company but will function as an independent business unit. This is Flipkart’s third major acquisition in payments, after it bought payments start-up NGPay (Jigrahak Mobility Solutions Pvt. Ltd) in 2014, and FX Mart Pvt. Ltd, which owns a prepaid wallet licence last August. “Payments has been one of the biggest hurdles for mass adoption of online shopping in India. UPI has ...