FUNDING | Pixr8 News

China & India vs USA: Alibaba Came in Rescue For Flipkart, Ready to Invest

4Feb By AnkitaNo Comments

FUNDING

China & India vs USA: Alibaba Came in Rescue For Flipkart, Ready to Invest

New Delhi: A surprise move by China’s Alibaba Group to came into the support of India's Biggest Ecom company Flipkart. As per the news report Alibaba is looking to invest in Flipkart. It has already backed Paytm and Snapdeal. Alibaba this move is to help Indian E-commerce company and eliminate US-backed Ecom companies like Amazon. There are not too many takers for India’s top e-commerce firms at their current valuations, prompting both Flipkart and Snapdeal (run by Jasper Infotech Pvt. Ltd) to approach Alibaba Group for cash, the three people said to Mint. While both have enough cash to fund their current burn rates for 12-15 months, they need to raise money this year in order to refill their fast-emptying vaults, the people added. Flipkart and Snapdeal, in particular, are facing scrut...

3Feb By No Comments

FUNDING

Magic Leap Announces $793.5 Million Fresh Funding Led By Alibaba Group

Dania Beach, Florida - Magic Leap, Inc. ("Magic Leap") announced $793.5 million in new funding today, led by Alibaba Group. Continued investment comes from Google Inc., Qualcomm Incorporated, through its venture investment group, Qualcomm Ventures, and others. New investment also comes from Warner Bros. and tier-one financial institutions, including Fidelity Management and Research Company, J.P. Morgan Investment Management, Morgan Stanley Investment Management, funds and accounts advised by T. Rowe Price Associates, Inc., and Wellington Management Company. “Here at Magic Leap we are creating a new world where digital and physical realities seamlessly blend together to enable amazing new experiences. This investment will accelerate bringing our new Mixed Reality Lightfield™ experience to ...

2Feb By AnkitaNo Comments

FUNDING

Sequoia raised Largest VC Fund Approx $920 Million to Invest in Indian Startups

Sequoia Capital, Silicon Valley's top-tier VC fund closed fresh $920 million fund. Funds will largely invests in Indian startups. The fresh funds takes Sequoia's total investment assets to more than $3 billion in India. This is the biggest raise by any VC fund for India-specific investments, cementing Sequoia's leadership position in the domestic early-to-growth stage investing space. TOI had reported on September 8 last year about Sequoia Capital, a backer of companies like Just Dial, Freecharge, Zomato, Oyo Rooms, among others, being on the road to raise its fifth India fund. At the time, Sequoia was looking to shore up $800 million. Sequoia, which had backed tech giants like Google and Apple in their very early stages, will see the new fund invest in Indian and south-east Asian...

1Feb By AnkitaNo Comments

FUNDING

Indian Student From Yale Received Funding From Mark Cuban

Shaan Patel the MBA student from Yale University’s School of Management received $250,000 investment from famous Entrepreneur Mark Cuban for 20% of his SAT prep company. The funding pitch happened on America's favourite startup show "The Shark Tank". It took a lot of fast talk on TV to get that money and he had to give up twice as much of his company as he originally wanted. But he left with an endorsement and cash from Shark Tank’s highest profile entrepreneur. 2400 Expert Sat Prep, Patel’s startup, has racked up $1.2 million in revenues in the past four years. Patel claims that his in-person and online courses, which respectively retail for $999 and $599, boast an average SAT improvement of 370 points. The Story of Investment at Shark Tank- But most of the investors at Sha...

IT services firm Cambridge Tech Invests Rs 8 cr in US Based Photo Sharing Platform PhotoKarma

30Jan By AdityaNo Comments

FUNDING

IT services firm Cambridge Tech Invests Rs 8 cr in US Based Photo Sharing Platform PhotoKarma

Hyderabad based IT services firm Cambridge Technology has invested Rs 8 crore ($1.3 million) in US-based automated photo-sharing platform PhotoKarma. Idealab, Bessemer and New York Angels are also participated in this investment round. Before this investment Cambridge Tech has also invested in MyCrowd, a crowd-testing platform for website and mobile applications. The investments is aim to create a potential market for CTE's solutions on big data analytics and cloud services. The fund typically participates in the seed stage with a commitment of close to $250,000. "Our focus is on investing in 12 US-based and Indian startups by March 2017 as a means of incubating our clients as well as helping these companies with delivery so that they can focus on marketing and financing challenge...

Info Edge Invested $1.1Million in Mobile Tracker Startup Rare Media

29Jan By No Comments

FUNDING

Info Edge Invested $1.1Million in Mobile Tracker Startup Rare Media

Info Edge Ltd has invested about $1.1 million (Rs 7.4 crore) in mobility-and cloud-based software developer Rare Media Company Pvt Ltd. The investment is expected to support Info Edge’s online realty business 99acres, which already uses Rare Media’s services for its sales staff. Founded in 2012 by Siddhartha Gupta, Delhi-based Rare Media’s field force tracking service, known as Blue Dolphin, is used for employee location tracking and timekeeping on 3G devices. “Rare Media has products in the area of B2B sales force management. We have invested in this company because there is a certain sort of dependency that 99acres has on them,” Bikhchandani said. 99acres uses Rare Media’s mobile-based products for data verification of its sales force. “The Rare Media investment is not a regu...

29Jan By No Comments

FUNDING

Truebil has raised 35 Crores Funding Led By Kalaari Capital and Others

BENGALURU: Truebil, an online market for buying and selling second-hand cars, has raised Rs 35 crore Series-A funding from venture capital investors Kalaari Capital, Inventus Capital and San Francisco-based Tekton Ventures. The rounds also participation from existing investor, Kae Capital. The Mumbai-based startup, whose founders include former Housing employees, is focused on peer-to-peer sales of cars unlike large classified players like CarDekho and CarTrade. "The difference between classifieds players and us is that we handhold a customer throughout the experience, helping close the transaction," said co-founder and CEO Suraj Kalwani. "One thing that we are convinced about is horizontal classifieds will start getting unbundled and specialised. Used-car sales is a large market...

Foxconn Invests in Home Automation Firm WiZN Systems

29Jan By AnkitaNo Comments

FUNDING

Foxconn Invests in Home Automation Firm WiZN Systems

Bangalore-based home automation startup WiZN Systems has raised an undisclosed amount in an angel round of funding led by Taiwan’s Foxconn Technology Group, according to a report in The Economic Times. Kanwaljit Singh, cofounder of FireSide Ventures, and a few other angel investors too participated in the funding round. As part of the investment deal, Foxconn, the maker of Apple iPhone, will manufacture the initial set of hardware devices for WiZN. Moreover, Rahul Chowdhri, former partner at venture fund Helion Ventures, will join the startup’s board as a non-executive director. Founded in 2014 by the former Texas Instruments employee, WiZN Systems’ technology helps connect everyday things to the internet and makes them wise. eGlu, a family of products powered by the company’s tec...

Mumbai Based Startup Truce Raises $370,000 From Inmobi and Snapdeal Founders

28Jan By No Comments

FUNDING

Mumbai Based Startup Truce Raises $370,000 From Inmobi and Snapdeal Founders

Mumbai based Startup Truce, which runs a fresh farm vegetables and fruits supply chain venture has raised 2.5 Crores ($370,000) angel funding from the founders of Inmobi and Snapdeal. Truce co-founder Saurabh Jain confirmed that the firm has raised funding but did not talk on about the details. The founders who invested are Kunal Bahl and Rohit Bansal (Snapdeal, co-founders), Anupam Mittal (Shaadi.com, founder), Amit Gupta (InMobi, co-founder), Utsav Somani and Neeraj Goenka of Mumbai Angels besides Farooq Adam Mukadam of Shopsense Retail Technologies were among the group of investors. Truce was launched last year by Kedar Gokhale and Jain. Gokhale, an alumnus of IIT Bombay. Truce procures fruits and vegetables from farmers across Maharashtra and sells them to mid-large sized restau...

Ratan Tata Invests in Teabox, An Online Start-up That Sells Premium Teas

27Jan By No Comments

FUNDING

Ratan Tata Invests in Teabox, An Online Start-up That Sells Premium Teas

Singapore: Ratan Tata, who stepped down as the chairman of the $100 billion Tata Group in 2012, is taking a stake in an online start-up that sells premium teas, the latest example of the Indian businessman becoming an active venture capitalist in his retirement. Tata is putting an undisclosed amount of money into Teabox, an Indian start-up based in the foothills of the Himalayas. It’s the latest of about 25 personal investments that he has made in start-ups, helping spark an e-commerce boom in India along the way. His investments include stakes in three of India’s unicorns, or start-ups worth more than $1 billion, the ride-hailing app Ola, online retailer Snapdeal and a mobile payment venture called Paytm. He has also put money into Chinese smartphone maker Xiaomi Corp., the most hig...

22Jan By AnkitaNo Comments

FUNDING

Adult Products Based Portal IMbesharam, Has Raised Series A Funding

An Adult products based portal IMbesharam, has raised Series A funding worth $4 million from US-based investors Pavel Vassiliev and Rafiq Hirani. The company was founded by Salim Rajan and Raj Armani in 2011 and claims to have 120 international brands (and 4,000 SKUs) across apparel, adult toys, jewelry, accessories, cosmetics and gift cards for both men and women. The company will launch a US store, 4 warehouses in India, hire employees in India and the US and launch a responsive website this year with the funding. It also plans to use $1 million for a marketing campaign, according to the report. IMBesharam explains why it chose the name on its website, “..We believe we all are Besharam, whether we like to accept it is another story… Because we want to educate people about sex, g...

Puneet Dalmia Invests in “Online Citizen Engagement Platform LocalCircles”

22Jan By AnkitaNo Comments

FUNDING

Puneet Dalmia Invests in “Online Citizen Engagement Platform LocalCircles”

After getting funded by leading industrialists, Anand Mahindra and Nadir Godrej, online citizen engagement platform LocalCircles said Dalmia Group Managing Director Puneet Dalmia has become an investor in the company. LocalCircles, which enables citizens to connect with national and local governance, will use the funds to expand its presence, strengthen technology and recruit more talent, LocalCircles Chief Strategy Officer K Yatish Rajawat said. He, however, declined to comment on details of the investment. "We have a user base of about one million users. We see this growing to about 30 million in the next 3-5 years. We will use the funds to double our presence to 200 cities," he added. Sachin Taparia, Chairman and CEO, LocalCircles said the company represents Social M...