Chinese e-tailing giant Alibaba has been reported seeking formal approval Competition Commission of India(CCI) to acquire substantial stakes in the Indian online grocery startup BigBasket. Earlier in July, Alibaba and SoftBank backed Paytm initiated a discussion to acquire stakes by investing $200 million in the online grocer. Although Paytm and BigBasket declined at that moment […]
Merely two weeks after Snapdeal CFO Anup Vikal’s exit, its Chief Technical Officer Rajiv Mangla quits the online retailer, a company spokesperson confirmed on Saturday. Rajiv Mangla is said to have resigned from his post on Friday, October 27; and will be transiting out of his role by 15 December. “Rajiv has played a key role […]
B2B logistics startup BlackBuck, operated by Zinka Logistics Solutions has raised around Rs 50 crore ($7.6 million) from InnoVen Capital, venture debt arm of Singapore’s Temasek. The development will be used to expand its service offerings. “The funds will get ploughed into the growth of the organization, which is typically around people, processes and product. We […]
Indian taxi company Meru Cabs has stepped up its legal challenge against local competitor Ola and U.S. rival Uber, alleging the firms are abusing their market position, and believes that planned investments in both by Japan’s SoftBank underscore its view. The head of Meru Cabs said the company has filed four new complaints with the […]
One of India’s unicorn, Ola, operated by ANI Technologies Pvt Ltd has confirmed that it has closed a $1.1 billion funding from Tencent Holdings, a leading Chinese internet company. The round also saw participation from its existing investor- SoftBank Group and other new US-based financial investors. Ola also said that it is in advanced talks with […]
Digital payments firm MobiKwik plans to invest Rs 60-80 crore on marketing and promotions in the next six months as it looks to drive transaction volumes on its platform and get more consumers onboard. MobiKwik, which competes with the likes of Alibaba-backed Paytm and Flipkarts PhonePe, also expects to see 2.5X growth in daily transactions […]
Indian team has made “substantial progress” and was in the “right direction” said an international panel of judges from the Google Lunar XPRIZE during visit of the Teamindus office today. TeamIndus is the only Indian team competing for the USD 30 million prize that requires privately funded teams to land their spacecraft on the surface of the moon, […]
Zefo, an online marketplace for pre-owned furniture and appliances has recently raised Rs 60 crore(around $9 million) from Sequoia Capital India, Helion Venture Partners and Beenext Pte. Ltd in a Series B round. Based out of Bengaluru, the Silicon Valley of India, Zefo will be using the funds to widen up its operations, expand inventory size and […]
Tech giant Google unveiled the second generation of its Pixel smartphone – Pixel 2 and Pixel 2 XL – which will be available in India from November 15 priced at Rs 61,000 onwards. The devices, which will compete in the premium segment with devices like Apples iPhone 8 and X as well as Samsungs Note […]
Another Indian Unicorn saw $2 billion fund raising on Monday. Ola- India’s ride hailing company raises $2 billion from SoftBank Group Corp and Tencent Holdings Ltd, another high profile funding in this year after Flipkart which competes with Amazon. Although as per the Bloomberg’s report the amount is not fixed for now and can change in […]
Yes, startups fail, but entrepreneurs don’t! This is an undeniable fact. 2017 has seen some of record breaking fund raisings and set new milestones for the ecosystem; not to forget Flipkart’s $2.5 billion funding from SoftBank Group. If we look at the report by Institute for Business Value and Oxford Economics, it highlights that more […]
India’s Unicorn Internet startups Flipkart and Ola are grouping together with peers including travel portal MakeMyTrip to launch a Nasscom like industry body that will be representing their interests and aim to deal with deep pocketed rivals, and sustain their existence in one of the world’s most prized markets for digital commerce. The lobby group […]