Softbank Group Corp has promoted Rajeev Misra, the chief executive officer of Vision Fund as the executive vice president of the Softbank board of directors, a move that would now place the director in the list of those in the line up to succeed the Tokyo-based company’s founder Masayoshi Son. Misra took over as CEO […]
The Bengaluru-based Flipkart-owned company PhonePe has reportedly made its way across 100 million registered users on its platform in less than two years of its inauguration. The company’s annual total payments volume (TPV) have also received a boost crossing $20 billion in the month of May. Paytm, the firm’s close rival stated its annualised transactions […]
Amazon Seller Services, the Indian unit of US e-commerce retailer Amazon has witnessed a growth in their losses by 31% in the financial year 2016-17 reaching up to Rs. 4,830.6 crore. This is because of the exaggerated investments in the country in order to fight against its competitor, Flipkart. The Amazon Seller Services handles and […]
Bengaluru based Agritech startup Stellapps raises $14 million funding led by Bill and Melinda Gates Foundation and IndusAge Partners, among others. Stellapps Technologies have one of the largest dairy IoT platforms in India and they will use the current funding for product development and operation expansion including for monitoring the quantity and quality of milk, storage facilities, creating wearable devices for […]
While yesterday we reported Flipkart foraying into grocery market to rival BigBasket and Grofers, another news today has surfaced that E-commerce giant Amazon is aggressively ramping up selection for grocery on its platform and focussing on speedier delivery to capture its hold in the grocery venture. The grocery wing of the online e-tailer has been […]
Bengaluru based YCook, a ready-to-cook processed package food startup raises $5 million (about ₹33.7 crore) in a Series B funding. The current funding round saw participation from Binny Bansal led venture capital firm 021 Capital, Oikocredit. The existing investor Omnivore also participated in this round. The food company will use this funding to acquire certifications, improve facilities and […]
Ed-Tech Startup iNurture, which provides industry-related skill courses has acquired a skill-based student employability platform KRACKiN Technologies Pvt. Ltd.in an undisclosed amount. Post this buyout, Bengaluru based iNurture is looking forward to boosting its network in helping graduates become employable. Ashwin Ajila, the iNurture founder said, While universities and colleges have well-developed metrics to measure […]
This week witness a lot of funding rounds, 14 to be precise for a total amount of around $130 Million. HDM Global was the company which received most funding with $100 Mn, while Bonphul Air Product and Rocketium raised the least funds with $300K funding. Below is a recap of all the funding news that […]
Softbank, the Japanese conglomerate owned by Masayoshi Son, recently agreed to sell its stakes in Flipkart for $4 bn following an investment of $2.5 Bn in mid-2017 for its 20% stakes in the e-commerce company. However, the company is very well focused and determined to bet on other companies that will remain profitable and growing. […]
Bengaluru-based fitness startup CureFit recently raised $878.2K from Bollywood star and brand ambassador Hrithik Roshan. MCA filings reveal that the prominent actor invested directly in Cure.Fit as well as through his entity, Extreme Brands. In August 2017, CureFit secured the ‘Krrish’ star as its brand ambassador, signing a five-year contract for a total of $14.63 […]
Xiaomi, the leading Chinese smartphone company, has announced the launching of its first lending product in India similar to the Mi Credit, a microlending product it already offers in China. The credit product, which was launched in collaboration with lending platform KrazyBee, is already available and will be officially announced in the coming few weeks, […]
BetterPlace, an HRtech startup for the blue-collar workforce, recently raised $3 Mn in Series A funding led by 3one4 Capital. This round of funding also saw the participation of Venture Highway and Unitus Ventures. “We are focused on addressing the $12 Bn blue-collar ecosystem in the country. A significant part of the funds will be […]