Sunday, December 22

Author: Rishabh

A love for stories and urge to be more exposed to the outer world made Rishabh to work with Pixr8 as a content writer. He choses to go with his personal interest of writing and hence is a writer not only by profession, but also by heart and choice. He is currently pursuing his B-tech from Noida.
Online Seller Bluestone scores $30 Million Funding by IIFL and Accel Partners
19Jul By RishabhNo Comments
FUNDING

Online Seller Bluestone scores $30 Million Funding by IIFL and Accel Partners

Bangalore-based jewellery e-tailer BlueStone has raised $30 million (Rs 200 crore) in a fresh round of investment led by financial services firm IIFL Holdings Ltd and Accel Partners. Kalaari Capital, RB Investments and IvyCap Ventures also invested in the Series D round, Bluestone Jewellery and Lifestyles Pvt. Ltd said in a statement. Founded in 2011 by Gaurav Kushwaha and Vidya Nataraj, BlueStone also has Dragoneer, Saama Capital, Ratan Tata, and Meena Ganesh among its backers. “BlueStone.com has a high quality team and has grown rapidly over the last year. With the strong foundation and this capital infusion, we believe BlueStone.com is well-positioned to build a large online jewellery brand in India.” said Vani Kola, Managing Director, Kalaari Capital. BlueStone raised $5 millio...
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Online Rental Solution RentoMojo Has Raised $5 Million From IDG Ventures and Accel Partners
18Jul By RishabhNo Comments
FUNDING

Online Rental Solution RentoMojo Has Raised $5 Million From IDG Ventures and Accel Partners

RentoMojo, an online rental solution startup has raised funds of $5 million in a first strategic round (Series A) from IDG Ventures and Accel Partners. Since its inception in November 2014, the Bengaluru headquartered company has expanded to three more cities - Delhi, Mumbai and Pune. The funds raised will be used to further strengthen the product and data driven structure within the company, it said in a statement here on Monday. "We want our users to indulge in the benefits of curated, personalised lifestyle without actually owning it. Apart from the cities we are operating in currently, we plan to expand to two more cities in the coming quarter," said Bamania, founder of RentoMojo. Geetansh Bamania is a serial entrepreneur and has worked with e-commerce majors such as Flipkart a...
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SRI Capital Invested $2.3 Million in Three SaaS Startups
18Jul By RishabhNo Comments
FUNDING

SRI Capital Invested $2.3 Million in Three SaaS Startups

Hyderabad and Philadelphia-based SRI Capital has invested a total of $2.3 million in three SaaS startups -- WorkApps, Yellowdig and Zuppler. SRI Capital is an investment firm and was founded by Sashi Reddi. Reddi is working as Managing Partner of SRI Capital, would join the Boards of all three companies soon. Workapps is a Pune-based startup which was founded by Rudrajeet, who is a first-generation entrepreneur in the consumer internet and mobile industry space, while co-founder MVS Murthy is a BFSI professional. “Though there are many players in this space, none of them cater to the large enterprise market, which is where WorkApps has built a very robust and scalable product”, he said. Yellowdig is a Social collaboration tool which aims at bringing knowledge from outside of the cl...
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Fresca Juices To Raise Rs 100 Cr This Year For Expansion
17Jul By RishabhNo Comments
FUNDING

Fresca Juices To Raise Rs 100 Cr This Year For Expansion

Fresca Juices is looking to raise Rs 100 crore by the end of this calendar year as it steps on the pedal to expand operations and increase turnover by threefold to Rs 300 crore in two years. "We are looking at raising Rs 100 crore by end of this year to fund expansion. A lot of private equity investors have approached us for investment. We will close funding by end of this year," Fresca Juices MD Akhil Gupta told PTI. On growth targets, he said: "We are targeting Rs 250-300 crore turnover by fiscal 2019. We are looking at expanding our operation pan-India in the next 2-3 years as we set up our plants in different parts of the country." The company is expected to report turnover of around Rs 100 crore this fiscal. Gupta said Fresca Juices will also grow distribution reach from 50,00...
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Apple Gears Up For Technology Integration With Cisco
14Jul By RishabhNo Comments
News

Apple Gears Up For Technology Integration With Cisco

Technology giant Apple is working on plans to facilitate integration of Ciscos Spark business collaboration service with iPhones in an effort to offer enterprise customers a better calling experience over Internet. Apple chief Tim Cook has said the company is making iOS devices to work better on Cisco technologies than any other mobile platform. "With iOS 10, we are making it easier to make and receive voice and video calls over IP(Internet Protocol). Now, Cisco Spark will integrate with iPhone for first-class calling experience. Its a seamless integration," Cook said in a video message at the Cisco Live Conference. Last year, Cisco had forged a strategic partnership with Apple, under which it optimised its network for iOS devices and apps, integrating iPhones with its solutions and ...
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ShareChat, India’s First Vernacular Social Network, Raises $1.3 million Seed Funding
14Jul By RishabhNo Comments
FUNDING

ShareChat, India’s First Vernacular Social Network, Raises $1.3 million Seed Funding

Bengaluru-based ShareChat, a vernacular social network received funding of $1.35 million from SAIF Partners. ShareChat was also selected for the second batch of the Google's Launchpad accelerator in Mountain View, California, along with five other Indian startups. The funds will be used for ramping up its tech infrastructure to cater to its constantly growing user base and to reach out to more people across India with a variety of content formats. Founded in October 2015, by IITK Alumni Farid Ahsan, Bhanu Singh and Ankush Sachdeva, ShareChat has built a first-of-its-kind social networking platform for India's vernacular language users, available in four Indian languages Hindi, Marathi, Malayalam and Telugu. The app has hit 1.3 million downloads out of which around 500,000 are a...
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Lyft, Ola’s Global Partner Finally Steps Out Of US
12Jul By RishabhNo Comments
BUSINESS

Lyft, Ola’s Global Partner Finally Steps Out Of US

Ola's global partner Lyft Inc. now ready to open up outside its home US. The second-largest US ride-hailing company will "very likely" expand to other countries, said John Zimmer, the president and co-founder of Lyft. Against its rival Uber, Lyft has so far focused only on US, while Uber expands in several countries of the world. The smaller San Francisco startup is defending its home turf from Uber partly by spending aggressively on marketing, including promotions targeted at riders and drivers in major US cities. Speaking onstage at the Fortune Brainstorm Tech conference in Aspen, Colorado, Zimmer didn't specify when the company might expand or where it plans to go. A Lyft spokesman declined to comment. Lyft's global alliance includes China's Didi Chuxing, India's Ola and Sou...
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Piramal Groups Chairman Invested In Chennai-based Utoo
12Jul By RishabhNo Comments
FUNDING

Piramal Groups Chairman Invested In Chennai-based Utoo

The Chairmam of Piramal Groups has bought a 'marginal' stake in Chennai-based cab aggregator Utoo, the company's promoter C Sivasankaran said on Monday. Chennai-bases Utoo was launched just over a month ago to compete against Ola and Uber, has been valued at Rs 1,000 crore, Sivasankaran, a former owner of telecom firm Aircel, said. The company has so far received Rs 74 crore from Sivasankaran's friends and family. It will open investment talks with venture companies and hedge funds for raising about Rs 2,000 crore once it achieves the milestone of one-lakh rides a day in eight cities. This marks the first investment of Ajay Piramal in any tech based cab aggregator startup. Sivasankaran had applied for bankruptcy protection in Seychelles in 2014 following a financial claim by Bahr...
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Management Tech Startup SirionLabs Raises $12.25 Million From Sequoia, And Others
12Jul By RishabhNo Comments
FUNDING

Management Tech Startup SirionLabs Raises $12.25 Million From Sequoia, And Others

SirionLabs, a startup that provides supplier management technology products has recently raised $12.25 million (about Rs.85 crore) in a Series B round of funding led by existing investor Sequoia India, a top company executive said. The funding round also saw the participation of QualGro Asean Fund and Canopy Ventures. SirionLabs was founded by Ajay Agrawal in 2012 and helps large enterprises manage outsourcing and procurement services. “There has been a tremendous growth in strategic outsourcing in the recent years and most large manufacturer of goods have started offering their goods more as a service. SirionLabs provides buyers of these managed services with software monitors their relationship with the suppliers,” said Agarwal. The funds will be used to support expansion and R&...
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redBus Acquired Majority Stakes In Peru-based Busportal.pe
11Jul By RishabhNo Comments
ACQUISITION

redBus Acquired Majority Stakes In Peru-based Busportal.pe

PTI: Ibibo Group's redBus.in has recently bought a majority stake in Peru-based bus ticketing platform Busportal for an undisclosed amount, a move that will help the Indian entity foray into the Latin American market. redBus, which also has operations in Malaysia and Singapore, will now gain entry into large and under-penetrated online bus ticketing markets in the Latin American region like Peru, Colombia and Chile. No financial details of the deal were disclosed. In addition to its local market expertise, Busportal.pe will leverage the redBus technology, product and brand name to launch and grow these markets, redBus said in a statement. The co-founders of Busportal -- Hassan Bourgi and Carol Riboud -- will continue to drive the operations in Peru and further expand into Colo...
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Amazon Crosses 1 Lakh Sellers On Its Platform
11Jul By RishabhNo Comments
BUSINESS

Amazon Crosses 1 Lakh Sellers On Its Platform

PTI: E-commerce firm amazon.in has crossed one lakh sellers on its platform during April-June quarter, witnessing a growth of over 250% year-on-year. "Since our launch in June 2013, we have been working extensively to meet different business requirements of sellers and help them grow their business profitably online," said Gopal Pillai, General Manager and Director Seller Services, Amazon India. Seller initiatives include extensive education and skilling programmes, offering Fulfilment By Amazon wherein amazon.in packs, ships and delivers products to customers, manages returns and does customer service on behalf of the sellers, and other assisted shipping services. Amazon is also giving sellers access to over 304 million active customers through the Amazon Global Selling programme. "Ove...
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Myntra Acquired Cubeit For An Undisclosed Amount
11Jul By RishabhNo Comments
ACQUISITION

Myntra Acquired Cubeit For An Undisclosed Amount

Online fashion retailer Myntra has recently acquired Bengaluru-based Cubeit for an undisclosed amount. Cubeit focuses on building mobile applications that allows users to aggregate content from any given location. "As part of the acquisition, the team at Cubeit has been inducted into Myntra, making it an Acqui-Hire that will further strengthen and expand Myntra's technology team," said the company in a press statement. Cubeit is Myntra's third technology led acquisition. Myntra had earlier acquired Native5, a Bengaluru-based mobile app development platform company in May, 2015 and Fitiquette, a San Francisco-based technology solution in April, 2013. Cubeit was co-founded by Sarthak Jain, Nithin Kumar Gadiparthi & Prathamesh Juvatkar in 2014. Myntra, which is aggressively trying...
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