Rishabh | Pixr8 News

11Jul By RishabhNo Comments

FUNDING

IvyCap Ventures Backed Purplle To Close $6 Million Series-B Round Funding

Purplle, an online marketplace, backed by IvyCap Ventures; for beauty products, spa and salon services, has closed a Series-B round of around $6 million with participation from JSW Ventures, existing investors and another investor who's likely to join in. The company will use some part of the capital to set up a warehouse in Bengaluru to serve the Southern market which makes up 15 per cent of its annual GMV of Rs 150 crore. "We will continue to be a marketplace as it is very difficult to predict which SKUs do well in the beauty segment. Our focus will be on enabling sellers who stock upto 15 days inventory with us in our warehouses for insight on price elasticity and sales," says Manish Taneja, cofounder of Purplle.com. He adds that the platform will grow its beauty services business ...

Paytm To Help Small Merchants By Lending Money

11Jul By RishabhNo Comments

BUSINESS

Paytm To Help Small Merchants By Lending Money

Mobile payments and commerce platform Paytm said it has tied up with financial institutions to facilitate collateral-free working capital loans of up to Rs 1 lakh for small merchants and service providers like General store owners and auto drivers. The credit profile of the merchants, based on earlier transactions, will be used for screening process. The screening will be done by third-party financial institutions including Capital Float, Aditya Birla Finance and Capital First. "Chances of getting a loan increases as the merchants' usage of Paytm increases since there is more data available for underwriting," said Kiran Vasireddy, senior vice-president at Paytm. The move will help Paytm achieve its objective of tapping the under-banked and unbanked segments of the population and bring...

Whatsapp Co-founder Invested In Delhi-based Startup

11Jul By RishabhNo Comments

FUNDING

Whatsapp Co-founder Invested In Delhi-based Startup

Delhi-based Trak N Tell, a car tracking telematics solution startup has recently raised an undisclosed amount of funding from a group of investors, led by Whatsapp co-founder Brian Acton. This is one of the major investment in any Indian startup involving a high profile Silicon Valley's entrepreneur. While the terms of the Series-A round were not disclosed, Acton, along with two other investors, whose names have also not been revealed, are believed to have pumped in about $3.5 million (Rs 23.3 crore) in the nine-year-old venture. "We are very pleased to have Brian on board, and he's been of tremendous help in terms of strategising, and planning for the company's next stage of growth," Pranshu Gupta, chief executive of Trak N Tell, said in a statement. Founded by Pranshu Gupta, a syste...

HDFC Bank To Focus On Digital Platform For Substantial Growth

10Jul By RishabhNo Comments

BUSINESS

HDFC Bank To Focus On Digital Platform For Substantial Growth

PTI: Private sector HDFC Bank plans to focus on digital platforms in rural and semi-urban markets to achieve sustained growth in the coming years. The bank is well positioned to continue to grow faster than the banking sector both in retail and wholesale segments, HDFC Bank said in its annual report for 2015-16. According to the report, "over the next couple of years, the bank will leverage on its distribution strength and digital platforms especially in the rural and semi-urban parts of the country for a more sustained growth." During the year, the bank introduced digital innovations including loans at ATMs, missed called recharge and 10 second personal loan. The report further said the bank will continue its focus on five core values of customer focus, operational excellence, pro...

LatestOne.com To Invest Rs 15 Crore To Strengthen Its Customer Base

10Jul By RishabhNo Comments

FUNDING

LatestOne.com To Invest Rs 15 Crore To Strengthen Its Customer Base

LatestOne.com, a tech and mobile accessory retailer is planning to invest Rs 15 crore to double its customer base and improve operations. Last year in December Latestone.com had raised a total funding of Rs 50 crore out of which Rs 20 crore was from Palred Technologies Limited (PTL). The company showed great potential after its launch in June 2014 by Reddy. Now with this investment, the company plans to open over 100 franchise-based kiosks in malls over the next few years, a senior executive said. "We are looking to invest Rs 15 crore into strengthening our operations and looking to double our customers to 2 million by the end of the fiscal," Palem Srikanth Reddy, Chairman of Palred Technologies said. LatestOne.com has done 1 million successful deliveries with a customer base of 1.5 m...

3 Indian Startups Making Their Way To The Silicon Valley

9Jul By RishabhNo Comments

News

3 Indian Startups Making Their Way To The Silicon Valley

Y Combinators(YC) has inducted three of Indian Startups for the summer batch. It is fit the first time that a bunch of Indian startups have made their ways into Silicon Valley's one of most coveted accelerator programmes. The three startups that have been selected by YC are Innov8, a co-working space in CP, New Delhi, JustRide, a self-ride car rental app, and Meesho, an app for sellers on Whatsapp and Facebook. The accelerator will be investing $120,000 in startups for a 7% equity stake across two batches every year, and the programme is based out of its Mountain View headquarters. "Each of the founders from India in the current batch has personal experience with the problems they are solving, which gives them unique insights into the market they operate in. India is now only second...

Electronicsewa: A Solution To Complete Mobile Protection

9Jul By RishabhNo Comments

Story

Electronicsewa: A Solution To Complete Mobile Protection

With the world going digital and everything on our fingertips, our mobile phones have become quite an integral part in our daily lives! Eventually most of our daily domestic as well as office-work are now done via mobile-phones. Hence nowadays the fear of losing our phones is much more than that of our wallets! Our mobile phones now not only have access to our personal lives and data but is a house of all our account details and its access. Mobile phones are now an irreplaceable item that beside its greater support, now needs a better care! “Every day new mobile-phones are launching; the demands are very high but the supply of services is very minimal! There is a hassle of companies in the market providing an abundant supply of handsets, who often fail in providing an equivalent number...

Vibrant Gujarat Startup Summit To Be Held In October

8Jul By RishabhNo Comments

News

Vibrant Gujarat Startup Summit To Be Held In October

Gujarat government would be organising Vibrant Gujarat Start-Up Summit, a first of its kind event dedicated to the start-ups, on October 21 and 22 at Mahatma Mandir in Gandhinagar here, a senior official said. It would be in the run-up to the Vibrant Gujarat Global Summit to be held in January next year, said Additional Chief Secretary, Industries and Mines, Arvind Agarwal. "To focus more on this sector, we have decided to organise a special summit for start-ups. This summit is for everyone who is interested in learning how to build and grow a business from ground up," said Agarwal at a press conference. It would be organised in association with FICCI and Entrepreneurship Development Institute of India (EDI). The event will see participation of more than 3,500 delegates from across I...

Freecharge Ready To Compete With Paytm In Taxi Fare Payment

8Jul By RishabhNo Comments

News

Freecharge Ready To Compete With Paytm In Taxi Fare Payment

The taxi industry, with a potential of $7 billion to be reached by 2020( as predicted by SoftBank) has started sheltering e-payment besides cab hailing services. While everyone is familiar how Uber and Ola are striving to gain an upper hand in this sector, theres a silent battle brewing between the wallet and payment service providers Paytm (One97 Communication Pvt. Ltd) and Freecharge(owned by Snapdeal) to make the most of the taxi market. Paytm had already partnered with Uber, as it realized this great potential much before the Freecharge. It's already been accepted in many auto and taxi. Entering this market, Freecharge will enable cashless payments in at least 100,000 taxis by the end of this year. Freecharge claims to have on-boarded about 15,000 taxis already to accept cashless...

Paytm To Launch Its Payments Bank This Diwali

8Jul By RishabhNo Comments

News

Paytm To Launch Its Payments Bank This Diwali

Online recharge and e-commerce platform Paytm is investing Rs 350 crore in its payments bank arm, which is looking to start operations by Diwali this year, a company executive said. The capital will be primarily utilised to build the platform's technology infrastructure and physical branch presence in rural areas, chief executive of Paytm's payments bank Shinjini Kumar told TOI. "Our plans show this initial capital is adequate for rolling out a payments bank as we are not looking to open too many branches in one go. We have got separate solutions to address urban and rural consumers as both have different sets of challenges," Kumar said. Paytm will be using Infosys' Finacle platform fpr the payments of the bank. The company is right now working on partnerships with financial products suc...

Reliance Jio Raises Rs 2,000Cr Through Electronic Bidding Platform (EBP)

7Jul By RishabhNo Comments

FUNDING

Reliance Jio Raises Rs 2,000Cr Through Electronic Bidding Platform (EBP)

Reliance Jio Infocomm Ltd. today raised Rs 2,000 crore through issuance of non-convertible debentures on the BSEs new platform and the proceeds would be utilised for roll out of its digital services business. The issue received bids worth over Rs 3,500 crore. The five-year debentures will bear a coupon of 8.32% per annum. "The proceeds of the issuance shall be utilised by Reliance Jio Infocomm Ltd for rolling out a state-of-the-art digital services business in India," it said. Reliance Jio said it is the first non-financial company to raise funds digitally through an electronic bidding platform (EBP). “This is also the largest debt issuance in the Indian market by any issuer since the electronic bidding platform has been mandated by Securities and Exchange Board of India (Sebi) for pr...

Amazon Invests in 6 New Fulfilment Centres Ahead of Festivals

7Jul By RishabhNo Comments

News

Amazon Invests in 6 New Fulfilment Centres Ahead of Festivals

E-commerce major Amazon has invested in six new Fulfilment Centres (FCs) to meet growing requirements of its fast-increasing seller base in the country. The new FCs, to be set up in Chennai, Coimbatore, Delhi, Jaipur and Mumbai, will bolster the companys presence in India ahead of the festive season, the company said in a statement today. With the launch of these new FCs, Amazon has a total area of 2.5 million square feet with a one-and-a-half times growth in storage capacity at 7.5 million cubic feet. An Amazon fulfilment centre serves as a modern, secure facility equipped with highly automated pick, pack and ship processes to facilitate safe and timely processing of orders. The company says it will keep investing in fulfilment and logistics capability to empower sellers. "It...