FUNDING | Pixr8 News

31May By NitishNo Comments

FUNDING

India’s Only Profitable Ecommerce Platform Invested 45 Crores in CCAvenue

India's first profitable e-commerce portal Infibeam said that it's investing Rs 45 crore in one of India's largest payment gateway CCAvenue and is currently "in further discussion for signing of definitive agreement". CCAvenue's payment solutions will be deeply integrated to Infibeam e-commerce marketplace and BuildaBazaar merchant store. Infibeam operates via its subsidiary NSI Infinium Global that holds e-commerce marketplace Infibeam.com and the do-it-yourself e-commerce platform BuildaBazaar. It's already has a joint venture with Avenues India called Avenues Infinite that operates the e-commerce marketplace Dhamaal.com. Infibeam owns 49.9% stake in the venture while the remaining 50.01% is owned by Avenues India. Infibeam likely to compete with other e-commerce platform in paym...

Snapchat Raises $1.81Bn For a Reported $20Bn Valuation

26May By reutersNo Comments

FUNDING

Snapchat Raises $1.81Bn For a Reported $20Bn Valuation

Messaging app Snapchat has raised $1.81 billion in an equity offering, indicating strong investor interest in the company despite concerns that it is struggling to attract advertisers. Snapchat did not disclose its valuation in the latest round of funding in its filing on Thursday but technology website TechCrunch reported on Monday, citing sources, that the company could be valued at about $20 billion. Snapchat, which makes a free mobile app that allows users to send videos, photos and messages that vanish in seconds, has faced concerns that the company's estimated valuation is not justified because of its uneven revenue stream. Investors in this round included General Atlantic, Sequoia Capital, T. Rowe Price, Lone Pine and Fidelity, among others, TechCrunch reported on Thursday,...

mChamp, Bags Rs 5 Crore Seed Fund From MoMagic Technologies

26May By AdityaNo Comments

FUNDING

mChamp, Bags Rs 5 Crore Seed Fund From MoMagic Technologies

Delhi-based mChamp Entertainments, a celebrity and entertainment-driven contest app, bags Rs 5 crore seed funding from MoMagic Technologies, a leading mobile Internet market and app ecosystem player. mChamp, a fund-driven contest app, in the past 9 months of its launch has already conducted 50 'Celebrity Meet and Greets' for contest(s) players. And the app is witnessing a 15% growth month-on-month, in terms of tie-ups and partnerships with leading FMCG brands, celebrity shows (TV/concerts) and productions houses. Founder, Paresh Shah, mChamp Entertainments, said, "We are indeed very honored and happy to bag the very first round of seed funding from MoMagic, a Foxconn and MediaTek invested company. Along with being seed funded, we believe our mission of: mChamp being the No 1 Cele...

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,...

24May By NitishNo Comments

FUNDING

Fxkart.com Looks To Raise USD 5 mn Series A Funding

Fxkart.com, an online aggregator of authorised foreign exchange dealers, is looking to raise USD 5 million in Series A funding by the end of this quarter. "We are in advanced stage of negotiations and by end of this (June) quarter, we hope to raise USD 5 million," Fxkart Business Development Head (East and North) Dhruba Khatua said. The fund will help Fxkart.com in marketing, technology and increased dealer participation. Fxkart.com FZ LLC is a UAE-based Free Zone Company, having its research and technical base at Bengaluru and had received a seed funding of USD 2 million in March 2015. The start-up, claimed to be Indias first forex aggregator, operates through over 200 money changers catering to over 1,000 locations in the country. Khatua said they get a commission from the dea...

Anand Mahindra Invested in SheThePeople.TV

23May By NitishNo Comments

FUNDING

Anand Mahindra Invested in SheThePeople.TV

Anand Mahindra, Chairman of Mahindra Group has invested into India’s largest digital storytelling platform for women SheThePeople.TV, founded by award winning journalist Shaili Chopra. Mr Mahindra has invested in his private capacity in the video platform, which is building a much-needed digital media space and ecosystem for women achievers and is dedicated to championing and promoting their success stories. Regarding his decision to support the platform, Mr Mahindra said ‘Women need a space that quenches their intellectual hunger, engages, and empowers them with relatable content. With Shaili as founder possessing a solid understanding of both conventional and digital media over 15 years, I have great confidence that SheThePeople.TV will become a focal point of inspiration for tomor...

20May By AnkitaNo Comments

FUNDING

i2ifunding, Leading Peer-to-Peer Lending Platform Raises Angel Funding

i2ifunding , one of the leading peer to peer lending platforms in India, today announced that the company has secured Angel funding from a group of industry veterans. Company plans to utilize the fund towards technology expansion and also towards increasing its presence geographically. "We are delighted that this distinguished group of investors has chosen to support i2ifunding in our mission to increase financial inclusion in India by helping the borrowers access loans for various needs at lower than market rates and at the same time provide an alternative high return investment option to retail investors," said Vaibhav Pandey, the CEO of the company. "This investment could not have come at a better time as RBI has talked about 2 Cr capital requirement for P2P players in the concept pa...

20May By AnkitaNo Comments

FUNDING

O2O Retail Discovery Platform Appie Raises $1million Funding

Appie Mobiquity Pvt. Ltd, a Mumbai-based offline retail discovery platform raised $1 million funding (around Rs 6.7 crore) from a Mumbai-based angel investor and two European investors. “We plan to add 10,000 retailers across three cities and expand user base to half a million in the first year,” Kartik Sanghavi, founder of Appie said. As an O2O platform, we tied up with 1,200 retailers in Mumbai. The app is currently in beta mode and a formal launch is scheduled in June. The firm charges a commission of 0.2-0.9% per transaction from the retailers. In the online-to-offline (O2O) market, Appie’s competitors include Fashalot (raises fund fom yournest), Zakoopi and Ratale, Paytm (acquire Near.in). The O2O theory works on when users express an intent for buying a product, the retaile...

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...

Ratan Tata Invested in Medical Startup MUrgency Inc

17May By NitishNo Comments

FUNDING

Ratan Tata Invested in Medical Startup MUrgency Inc

Tata Sons Chairman Emeritus has invested in San Francisco-based medical emergency response MUrgency Inc. Financial details of the deal were not disclosed. "He (Tata) clearly wanted us to launch and grow the network in India first before taking it overseas. Mr Tata's investment in MUrgency will help attract leading talent to the company and major partnerships beyond India," MUrgency Inc Fonder Shaffi Mather said in a statement. Founded in 2014 in Silicon Valley and incubated out of Stanford ChangeLabs, MUrgency recently received investments from Kris Gopalakrishnan and S D Shibulal led Axilor Ventures. The company launched its service in Tricity area in Punjab on February 16, with a responder network of 36 hospital emergency rooms, over 40 ambulances and more than 350 me...

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...