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Naspers Invests $250 Million In ibibo For Extended Leadership

25Feb By AdityaNo Comments

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Naspers Invests $250 Million In ibibo For Extended Leadership

Indian online travel venture Ibibo Group today announced that Naspers will invest USD 250m in the group, which will focus extending ibibo's leadership position in the Indian hotels category and on additional technology innovations. Ibibo processed more than 6.5m transactions for the period October to December (Q3) 2015. It is the largest online travel company in India, generating more than 2.5x the transaction volumes of its nearest competitor. The group owns integrated online travel properties such as Goibibo.com (India's No 1 hotels booking engine and also a leading air ticketing aggregator), and redBus.in (No 1 online bus ticketing platform). In a recent research report by Morgan Stanley, Goibibo was rated number one by hoteliers across a number of parameters, including booking...

With 10,000 Orders Per day, TaskBob Raised $4 million From Ivy Cap Ventures

22Feb By AdityaNo Comments

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With 10,000 Orders Per day, TaskBob Raised $4 million From Ivy Cap Ventures

February 22, 2016: TaskBob, a Mumbai-based Home services provider startup has raised Rs28 crore ($4 million) from Ivy Cap Ventures and existing investors Orios and Mayfield, according to a report in The Economic Times. Taskbob will use this fund to expand into other cities and boost growth. This is the first investment in the home services space by IvyCap Ventures’. “What we have done in Mumbai is to understand the backend and creating a playbook. The idea is to replicate this playbook across top four-five cities in one and a half years and reach 10,000 orders per day,” said Aseem Khare, CEO of Taskbob. “In Mumbai we want to be profitable at the unit level in the next one and a half years,” he added. Taskbob, which provides pre-screened service persons across a range of home se...

22Feb By AnkitaNo Comments

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Selfi Discovery App for Hyperlocal Magicpin Raises $3 million Series A Funding

Magicpin, a hyperlocal discovery app, founded by Investor-turned-entrepreneurs Brij Bhushan and Anshoo Sharma have raised $3 million in Series A round of funding from Lightspeed Venture Partners. The app offers Instagram-like features where users can take pictures and selfies to avail of offers and discounts at neighbourhood stores. “While looking at the market from an investing lens, it was quite clear that India is entering a phase where everyone would be connected through their smartphones. A trip to China in late 2014 was an eye opener for the kind of businesses and value such an environment would create. There is an opportunity window today in India for creating a massively valuable business that leverages data, technology and people networks around offline transactions, and w...

Google Acquired Singapore Startup Pie, Looking to Build Engineering Team

20Feb By AnkitaNo Comments

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Google Acquired Singapore Startup Pie, Looking to Build Engineering Team

Google has acquired Singapore-based startup Pie.co, a slack like chat platform. The move behind this acquisition is to bring good engineers from Asia-pacific into Google. In its blog Google said, According to the UN, 300 million people came online for the first time last year. Put another way, in 2015, there were more people using the Internet for the first time than there were Americans using the Internet already. But the computing experience for most of these first-timers, coming online in places like India, Indonesia and the Philippines, is very different from the one many of us grew up with – and not the one that most of Google’s services were originally designed for. Their main (and in most cases, only) “computer” is a low-cost smartphone. Connectivity is expensive in relatio...

19Feb By AnkitaNo Comments

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Jana The Second Largest Mobile Advertising Platform in India Raised $57million Funding

Many of you did not hear about this company but Jana (meaning “people” in Sanskrit) the only Facebook competitor in emerging markets regarding free Internet service raises $57million in Series C funding, led by new investor like Verizon Ventures, with participation from our existing investors, Spark Capital and Publicis Groupe. Jana mission is simple, yet ambitious: they want to make the Internet free for the next billion people. Jana known as mCent app launched in July 2014, more than 30 million users in 15 of the fastest-growing emerging markets have benefited from free, unrestricted Internet. Jana is the second largest mobile advertising platform in India next to Google and have partnered with 311 mobile operators around the world to expand their reach into new markets. Jana of...

Nandan Nilekani, Mohandas Pai Invests in Tracxn

18Feb By AnkitaNo Comments

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Nandan Nilekani, Mohandas Pai Invests in Tracxn

BENGALURU: Founded in 2013 by Neha Singh (ex-Sequoia Capital) and Abhishek Goyal (ex-Accel Partners), Tracxn a startup research platform has raised a new round of angel funding from Nandan Nilekani, Mohandas Pai, Neeraj Arora and Junglee Cofounder Anand Rajaraman. Tracxn had earlier raised funding from Ratan Tata, Flipkart's Sachin and Binny Bansal and Delhivery cofounder Sahil Barua besides a $3.5 million series-A round from venture capital firm SAIF Partners. Tracxn have database over 100 sectors including enterprise infrastructure, enterprise applications, tech, consumer, mobile, digital marketing, health, and education across major countries like the US, India, China and Southeast Asia The company grew its customer base by over 400% in the last year with client base including...

17Feb By AnkitaNo Comments

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Online Videos Creator The Viral Fever Raises $10 million Funding

Tiger Global another investment in India and, this time, they invested $10 million (Rs.65.6 crore) in India's popular online video content creator The Viral Fever (TVF) also known as Qtiyapa. As per the report, Tiger Global has picked up close to 25% stake in the firm valuing it at around Rs.270 crore. The Viral Fever aka Qtiyapa was set up by IIT graduate Arunabh Kumar in 2010. He was later joined by Amit Golani and Biswapati Sarkar. For Tiger Global, this is the second investment in the online video content space. In 2015, Tiger, along with venture capital fund Zodius Capital, invested $18 million in Culture Machine, which runs the Being Indian and several other YouTube channels. READ: Podcast with Arunabh kumar (The Q-tiyapa Guy) The American investor has stakes i...

Unitus Seed Fund Invests in BetterPlace, India’s Leading Safety and Trust Platform

16Feb By AdityaNo Comments

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Unitus Seed Fund Invests in BetterPlace, India’s Leading Safety and Trust Platform

16th February, 2016. Bangalore, India: Unitus Seed Fund, India’s most active seed fund supporting startups innovating for the masses, today announced an investment in BetterPlace Safety Solutions, a Bangalore-based digital background verification solution provider aiming to create “A Better Place For A Billion+ Indian Citizens By SAFE Powering Them”. Founded in 2015 by Uday Singh, currently the Group CEO of SIS Group and Pravin Agarwala, former Global head of Cloud ERP Development at SAP, BetterPlace has created India’s first web service that addresses the ‘trust deficit’ in any form of alliance or interaction between individuals and entities. From verifying the credentials of a potential tenant, to hiring a maid, to fulfilling the workforce hiring requirements of large organizations, B...

16Feb By Press Trust of IndiaNo Comments

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SnapBizz Raises Funding From Ratan Tata

Bengaluru-based retail technology startup SnapBizz Sunday said it has raised an undisclosed round of funding from veteran industrialist Ratan Tata. SnapBizz: Amazing Story of $1 Billion Opportunity Spotted By An Employee and Backed By His Company This is Tata's eighth investment in startups in 2016 so far. Tata, former Tata Group chairman, has invested over 20 startups so far. In January 2016, SnapBizz had announced a Series A funding of $7.2 million (roughly Rs. 48 crores) led by Jungle Ventures, Taurus Value creation, Konly Venture and Blume Ventures. With the mission of transforming the unorganised fragmented retail sector in the country, SnapBizz currently works with over a thousand kirana stores across Mumbai, Pune, Delhi, Hyderabad, Chennai and...

Aasaanjobs Raises $5 Million From Aspada Advisors, IDG Ventures

15Feb By Press Trust of IndiaNo Comments

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Aasaanjobs Raises $5 Million From Aspada Advisors, IDG Ventures

Online recruitment marketplace Aasaanjobs Monday said it has raised $5 million (roughly Rs. 34 crores) in series A round of funding led by Aspada Advisors with participation from existing investors. The fresh inflow of capital will help the company realise its mission of taking its HR services on the cloud, a company release said adding this technological edge will pave way for Aasaanjobs' expansion into newer geographies. Founded in November 2014, Aasaanjobs is based out of Mumbai. Aasaanjobs' tech solutions speed up the process of recruitment by connecting perfectly-matched candidates to recruiters. This makes the entire process quick, effective and convenient for both job seekers and recruiters. This was a follow-up from the seed round where the platform raised a funding of $1....

VR Firm Wevr Raises $25 Million From Samsung, HTC, and Others

6Feb By reutersNo Comments

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VR Firm Wevr Raises $25 Million From Samsung, HTC, and Others

Virtual reality company Wevr raised $25 million (roughly Rs. 170 crores) from investors including HTC Corp and Samsung Ventures to fund the launch of a new platform for VR creators to distribute content, executives said on Friday. The platform, called Wevr Transport, is available now to a limited number of users in a test phase. It is designed to run on various virtual reality headsets through an app and on a website. Virtual reality video offers a 360-degree view that immerses people in fantasy settings. The technology has been touted for decades but never reached mass adoption. This year, Facebook Inc's Oculus unit, Sony Corp and others plan to introduce modern VR headsets. Wevr and other companies are making VR videos to lure audiences to the medium. Wevr Transport features ...

5Feb By NitishNo Comments

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Bangalore Based Bhive Workspace Raised Angel Funding

Bengaluru-based Coworking Space BHIVE WORKSPACE has raised an undisclosed angel round of funding from investors including Raghunandan of TaxiForSure, Arihant Patni of Hive Technologies, Rajesh Rai (Venture Capitalist & Co-Founder, Venturesity), Arun Narayan from UK India Business Council, Sanjay Mirchandani (Owner, Mirchandani Group) and others. BHIVE started out as a provider of accessible and quality plug ‘n’ play workspace in Bangalore, a year ago. Co-working spaces are essential to developing a growing and vibrant entrepreneurial ecosystem in India. Finding the right workspace, maintenance of office space, bill payments and operations, housekeeping and security, procuring food and beverages etc. are a few such distractions. Setting up the perfect backdrop to fix this issue or ...