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Oil India Limited (OIL) Setup Rs 50 Crore Startup Fund For New ideas in Oil & Gas Sector

7Nov By Press Trust of IndiaNo Comments

FUNDING

Oil India Limited (OIL) Setup Rs 50 Crore Startup Fund For New ideas in Oil & Gas Sector

GUWAHATI: Oil India Limited (OIL) has set up an OIL Startup fund of Rs 50 crore to encourage new "out of the box" ideas related to the oil and gas sector, particularly in the Northeast. The oil exploration major's chairman-cum-managing director Utpal Bora today said in a press conference that the initiative was in line with the Centre's 'Start-up India' initiative. "The OIL Start-Up fund is to encourage students, young entrepreneurs and institutions to come out with out of the box ideas for the benefit of the oil and gas sector that is contributing enormously to the growth of the economy," Bora said. The initiative was to create an ecosystem that was conducive for growth of start-ups in the oil and gas sector, which has a huge scope for application of technology-enabled ideas, he ...

6Nov By AnkitaNo Comments

FUNDING

Gurgaon based On Demand Laundry Startup Pickmylaundry Raises Funding

Pickmylaundry, a Gurgaon-based on demand laundry startup has raised $200k in a new funding round from Kedar Lele (a top level executive of a leading FMCG major) and existing investor GHV Accelerator. The startup has raised about $200K and had commitment of another $300K from a couple of angels. The new round of funding will use the newly raised funding in expanding its operations to entire NCR and explore opportunities in other cities. Pickmylaundry will also set up offline stores to reduce the last mile logistics cost, which is at currently around Rs 100 per order. “We will also roll out 24 hours delivery service and overnight service,” said Gaurav Agarwal, Founder, Pickmylaundry. Founded by Gaurav Agarwal, along with Ankur Jain and Samar Sisodia in May 2015, Pickmylaundry had previ...

5Nov By NitishNo Comments

FUNDING

Delhi Based Food Joint QD’s Has Raised an Undisclosed Funding

Delhi based food joint QD's has raised an undisclosed amount from Chanana Group of Delhi and is all set to expand its chain of restaurants in the city. The capital will be used for new restaurants and strengthening the brand, the company said in a statement. QD's is a popular food restaurant chain in Delhi, famous for its Indian and Chinese cuisine offerings. Currently it has four outlets across the capital (Laxmi Nagar, Kirti Nagar, Satya Niketan and Hundson Lane). QD's was founded in 2010 by Akhil Malik and his team. It initially opened to the public in Satya Niketan and Hudson Lane, better known as South Campus and North Campus of the Delhi University respectively. Later, two more outlets were launched in Kirti Nagar and Lakshmi Nagar due to its rising popularity. "We have r...

5Nov By reutersNo Comments

FUNDING

Online Retailer Bonobos Reportedly in Talks to Raise $100 Million Funding

E-commerce menswear company Bonobos is speaking to investors about raising $100 million in a new round of funding that would value the company roughly at half a billion dollars, according to people familiar with the matter. Bonobos is using the new funds to expand its retail footprint, highlighting the crossover that e-commerce companies are making into traditional brick and mortar retail as they push for growth, the sources said on Friday. Bonobos, which is profitable, generates around $150 million in sales and is working with Citigroup to assist with the fundraising, according to the people, who asked not to be named because the matter is private. Citi and Bonobos declined to comment. New York-based Bonobos was founded in 2007 by Stanford business school graduates who wanted ...

Google Capital Rebrands as CapitalG; Discloses Snapchat Investment

5Nov By reutersNo Comments

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Google Capital Rebrands as CapitalG; Discloses Snapchat Investment

Alphabet's venture capital arm CapitalG, earlier known as Google Capital, disclosed an investment in Snapchat by adding the social networking firm's logo to a page on its investment portfolio website. CapitalG has not made a formal announcement and it was not clear when Google made the investment. The company was not immediately available to comment. Snap, which operates the popular messaging app Snapchat, has hired Morgan Stanley and Goldman Sachs Group as lead underwriters for an initial public offering. The banks were notified last month that they had been awarded one of most coveted and potentially lucrative IPO mandates in recent years, as the Venice, California-based company vies for a $25 billion valuation in the stock market. Snapchat, which lets users send smartphone p...

3Nov By AdityaNo Comments

FUNDING

Zarget Raises $6 Million Series A Funding From Sequoia India

Zarget today announced it has raised $6M Series A round of funding, led by Sequoia India, with participation from current investors Accel, and Matrix Partners. The company plans to use funds to scale its marketing automation products and help small businesses easily optimize their web presence in real-time without any coding skills required. With Zarget’s all-in-one platform, any business owner has an easy and affordable way to become an effective digital marketer and improve performance of their websites instantly, without learning how to code or hiring an expensive IT department. Zarget offers all of the capabilities of competing solutions and more – including A/B testing, dynamic heatmaps, funnel analysis, form analytics, and user polls and feedback – but at 10% of the cost, and it’s...

TalentNext.com Raises $1 Million From Angel Investors

3Nov By NitishNo Comments

FUNDING

TalentNext.com Raises $1 Million From Angel Investors

TalentNext.com, an online platform that connects talent like actors and screenwriters with recruiters, has secured a second round of funding of USD 1 million from angel investors. Launched in July 2016, the platform focuses on providing recruitment within television, advertising, films and digital content. "Our aim is to support and augment the growth of promising talent across the country. This investment helps us expand to hundreds of cities across India and beyond the typical metropolitan and tier I regions," TalentNext.com CEO Shekhar Purohit said. According to Purohit, the talent discovery and recruitment platform has partnered with over 30 casting directors in Mumbai and has partnerships with industry bigwigs including Dharma Productions, OML, Culture Machine and Balaji Telefil...

Amazon Founder Bezos Invested in Biotechnology Company Unity

30Oct By NitishNo Comments

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Amazon Founder Bezos Invested in Biotechnology Company Unity

UNITY Biotechnology known as Unity today announced the closing of a $116 million Series B financing from Bezos Expeditions (the investment vehicle of Jeff Bezos) and existing investors WuXi PharmaTech and Mayo Clinic Ventures. ARCH Venture Partners, Baillie Gifford, Fidelity Management and Research Company, Partner Fund Management, Venrock and other investors was also participated in this round. The funding will be used to expand ongoing research programs in cellular senescence and advance the first preclinical programs into human trials. Unity is a privately held biotechnology company creating therapeutics that prevent, halt, or reverse numerous diseases of aging. The company also announced that Keith Leonard, 25-year biotech industry veteran and current executive chairman, will ...

India’s First Electric Scooter Startup Ather Energy Raises 205 Cr From Hero Motocorp

27Oct By AdityaNo Comments

FUNDING

India’s First Electric Scooter Startup Ather Energy Raises 205 Cr From Hero Motocorp

Ather Energy, India’s first smart electric scooter startup has raised 205 Cr Series B funding from India's leading Bike Company Hero Motocorp. The startup will use this funding in engineering and production work for the S340 (Ather's first e-scooter model) and on ubiquitous charging infrastructure. The startup has already raises funding from investors like Tiger Global and Sachin and Binny Bansal. But this is the first time Ather Energy investor list includes any automobile veteran. Ather Energy in a press release said, "Hero understands where the future of vehicles is headed. And this change will be quite a rapid one which will change the landscape of this industry. One cannot sit on the side-lines. One cannot not participate. A company of their size cannot move like a start-up but ...

Omnivore Partners Invested 6.5 Cr in Tech Startup For Trucks FR8

27Oct By NitishNo Comments

FUNDING

Omnivore Partners Invested 6.5 Cr in Tech Startup For Trucks FR8

Chennai-based FR8, a platform for trucking system raises Rs 6.5 Cr from Omnivore Partners Venture fund. The fund will be used for expansion, investing in technology and talent. FR8 founded in June 2016 by Jayend ran Panneerselvam and Vasanth Immanuel, already has 2,500 trucks from 400 vendors on the marketplace. It currently books around 1,000 orders worth about Rs 2.5 crore a month. The company has enterprise and F&B clients like Philips, Asian Paints, Pepperfry, Britannia, Preethi Kitchen Appliances and Paperboat. Immanuel, FR8 Founder, who worked for seven year at Asian Paints managing supply chain, said,“We offer a four-hour commitment to our clients and manually connect orders which have not gotten matched automatically. We believe that we are very capital efficient as we...

iAugmentor Labs Invests in Gurgaon Based Volunteer4India

26Oct By AnkitaNo Comments

FUNDING

iAugmentor Labs Invests in Gurgaon Based Volunteer4India

Gurgaon, 26th Oct,2016: iAugmentor Labs, a technology-enabled learning platform, has invested in Volunteer4India, an online aggregator for brand sponsored Social causes, NGOs and student/ youth/ employee volunteers. Volunteer4India (V4I) harnesses the energy of new millennial volunteers through a technology (Web/Mobile App) enabled volunteering platform. It connects them to Corporates wishing to execute their cause marketing mandates, Colleges who wish to encourage their students to apply their academic knowledge on real-world challenges, and NGOs requiring operational and execution support for their projects & Government initiatives. Ranjoy Dey, CEO of Volunteer4India commented, "We see iAugmentor's strategic investment into Volunteer4India as a validation of the importance of e...

25Oct By PriyankaNo Comments

FUNDING

Bengaluru Based KredX Raises $6.25 Million Series A Funding

Invoice discounting marketplace, KredX has raised USD 6.25 million in Series-A round of funding led by Sequoia India. Company’s existing investor Prime Venture Partners also participated in this round and had earlier invested USD 750,000 in April of this year. The funding will be used by KredX to strengthen its technology, data and sales functions within the company. Bangalore-based KredX, Formerly known as Mandii is an online marketplace for SME lending that connects enterprises looking for financing and investors looking to earn higher short-term yields with lesser risk. Borrowers can upload payment pending invoices or post-date instruments of their customers, select from among the best bids available and receive funds. Investors can view invoices, PDIs from SMEs along with cred...