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Delivery Platform Daily Ninja Raises $3 Mn

14Jun By Gauri SinghNo Comments

FUNDING

Delivery Platform Daily Ninja Raises $3 Mn

A subscription-based delivery platform Daily Ninja that delivers everyday essentials to its customers has reportedly raised funds from Bengaluru-based Saama Capital and its existing investor Sequoia Capital worth $3 million. Daily Ninja is a unique hyperlocal platform which is based on prepaid subscriptions. The service delivers products of daily needs to its customers through its mobile app. It aims to give the easiest, hassle-free ordering experience to its customers ideally suited to high quality and speedy ordering of household needs with a subscription-based model. The funds raised by Daily Ninja will be utilized in the growth and expansion purposes. It aims to build its name and fame in the households across Bengaluru and Hyderabad. It wants to grow its business by attracting a...

Ather Energy Launches First-Ever Smart Scooters

6Jun By Gauri SinghNo Comments

News

Ather Energy Launches First-Ever Smart Scooters

Ather Energy, a five-year-old hardware startup of IIT graduates Tarun Mehta and Swapnil Jain, has launched India’s first-ever smart electric scooter called the ‘Ather 340’. The company has also come up with a better version of the entry-level model, which came as a surprise, along with higher power and higher speed retaining similar physical appearance named 'Ather 450'. The Tiger Global, Hero MotoCop and the founders of Flipkart have been the investors of the startup in 2015. The scooter’s commercial launch in the two-wheeler market has been initiated more than two years after the co-founder and CEO Tarun Mehta first introduced the 340 at a tech conference in Bengaluru, stating the availability of the scooter by the end of 2016. But the delay occurred because of the company’s struggle ...

Reliance Jio on a Hiring Spree of Experts Under Akash Ambani

4Jun By Gauri SinghNo Comments

BUSINESS

Reliance Jio on a Hiring Spree of Experts Under Akash Ambani

The Mukesh Ambani-led Reliance Jio Infocomm has started its hunt for a team of experts to work under Akash Ambani regarding the Artificial Intelligence (AI) of the firm. Apart from AI, the company is also seeking for young people to work on machine learning and blockchain technology (a digital ledger in which transactions are recorded). It has been reported that Reliance Jio has already appointed some of the senior officials who are responsible for building this team. Akash Ambani is interestingly getting involved in this process and is being assumed to lead the initiative. The company is planning to set up this team in either of the two cities – Hyderabad or Bengaluru. An artificial intelligence (AI) oriented brand engagement platform called ‘JioInteract’ was launched by Reliance Ji...

Hike Lays off 25% Workforce, Shuts down Bengaluru Operation

29May By Lavina TolaniNo Comments

News

Hike Lays off 25% Workforce, Shuts down Bengaluru Operation

While hiring season was just picking up, startups now seem to counter the trend. Messaging platform Hike has announced employee layoffs for up to 20-25% as it is shutting down its Bengaluru operations. A Hike representative confirmed the news stating, We made a few acquisitions last year that skyrocketed the team size, mostly in Bengaluru. We’re integrating and streamlining these teams. Just business as usual. Kavin Bharti Mittal, company's co-founder informed that it had become increasingly difficult for the company to manage both the locations. As a result, the platform is finally moving its base to Delhi. The report has speculated that most of the reductions are from its last two acquisitions — Creo and InstaLively. Moreover, the layoffs are expected in multiple functions such a...

22May By Lavina TolaniNo Comments

INDIA

Netherlands to Set up a “Startup Link” in Partnership with Startup India

As Netherlands Prime Minister Mark Rutte is heading to Bengaluru on 25th May, Netherland government is looking forward to deepening the innovation system between the two countries. The initiative called as "Startup Link" will be launched in collaboration of Government of India’s Startup India programme which will focus on helping Dutch startup explore Indian market. Netherlands business trade delegation accompanying the Prime Minister will be visiting Indian cities like Delhi and Mumbai promote technology and Innovations at all levels universities to SMEs and Corporates. The visit will focus on strengthening bilateral trade relationships in areas such as life sciences, healthcare, waste management, cybersecurity. Meanwhile, Netherland has also expanded its Bengaluru, South India offi...

Nandan Nilekani Invests 12.99 Crore in E-commerce Platform

17Apr By NitishNo Comments

FUNDING

Nandan Nilekani Invests 12.99 Crore in E-commerce Platform

SHOPX, India’s fastest growing digital offline platform, fueling retailers in India, has received ₹12.99 Cr of fresh capital from existing investor, Nandan Mohan Nilekani. ShopX has so far raised a total of ₹122 Crore of which Mr Nilekani's contribution has been almost all of it. The former UDAI Chairman and Infosys co-founder, Nandan Nilekani has been a strategic investor in ShopX. His first investment of ₹3 Cr in ShopX was as early as April 2015. He has been since then backing the startup with a steady infusion of funds every now and then. Founded by Amit Sharma and Apoorva Jois, ShopX claims to enable retailers to earn 30 to 40 percent more than the traditional retail model. Bangalore-based SHOPX is India’s fastest growing digital offline platform, which provides significant...

16Apr By NitishNo Comments

FUNDING

India’s First Electric Bike Company Raises 2 Crore Funding

Bengaluru based India's first electric bike Emflux Motors has secured ₹2 Cr in fresh capital from existing and new investors. The investors participated in this round were R Gopal Reddy, MD of Concorde Group, Narendra Sujan, Director of Sujan Group, Fabian Brian Crain, Co-founder of Chorus One and Epicenter, and existing investors - Meher Roy & Risabh Gupta along with other HNIs. Founded by Varun Mittal and Ankit Khatry, Emflux motors planning to launch it's first prototype a sports bike in October 2018. The bike is estimated to be priced between ₹5 Lakhs to 6 Lakhs. The charging time of bike is- from 0-80% in 36 minutes. The company was also showcased in Auto Expo 2018 in Hall 08. The bikes will be given a 5-year warranty. Electric Vehicles are no doubt the future of the...

Blockchain Related Jobs Witness a High-demand in India

10Apr By Lavina TolaniNo Comments

News

Blockchain Related Jobs Witness a High-demand in India

A recent report released by Job search portal Indeed revealed that blockchain sector in India has a significant demand for professionals with opportunities concentrated in prominent metropolitan cities of the country. While Bengaluru has topped the list in terms of city listing maximum job postings accounting for 36 percent all the blockchain job opportunities in India, other cities like Mumbai, Chennai, Pune, Hyderabad have also secured a place. The current statistics expect that global market for blockchain related products will reach $7.7 Bn in 2022, thus adding in more jobs in the sector in future. Speaking on the subject, Sashi Kumar, MD at Indeed India said, There is a lot more we need to learn about blockchain technology, given the enormous scope of its application, it is he...

Microsoft Launch ‘The Garage’ Project in India

27Mar By Sheldan RungasamyNo Comments

News

Microsoft Launch ‘The Garage’ Project in India

Microsoft installed its first ‘Garage’ in Hyderabad to encourage employees to come up with new products and solutions relevant to the modern age such as Internet of Things (IoT), robotics and quantum computing. The huge facility of 8,000 sq. ft. is the Microsoft’s second biggest unit of the type worldwide with the Redmond facility in US being the largest. The initiative of ‘The Garage’, a workplace to promote innovative creations among employees has been in force since 2014 but a specifically designed space for the purpose was not yet dedicated to the workers. The newly erected workplace in Hyderabad possesses three dedicated lab sections more specifically a hub for hackathons and workshops, a makerspace and a reality room. “The Garage is a platform for our employees that supports and ...

13Mar By Sheldan RungasamyNo Comments

News

Apple Manufacturer Acquires New Site in India

A department of Apple Inc’s contract manufacturer from Taiwan, Wistron Corp has received approval from the government of Karnataka to construct a new Apple facility in Bengaluru. The Karnataka state government granted Wistron Infocomm Manufacturing India Pvt Ltd’s request for 43 acres of land. The new site will be located at the Narasapura Industrial Area, located some 50 km away from the Bengaluru International Airport. The location is already home to the assembly operation of numerous firms with the likes of Honda Motorcycle, Scooter India and Mahindra Aerospace. Wistron is planning to invest around $105 in developing the land and producing smartphones, internet of things (IoT) apparels and other bio-tech devices, according to the document. On the application, Wistron did mentio...

26Jan By PriyankaNo Comments

FUNDING

Axis Biosolutions Raises 47 Crore Funding From Ratan Tata & Others

Bengaluru based Axio Biosolutions has raised $7.4 million (about Rs 47 crore) in a Series-B funding round led by Ratan Tata's RNT Capital, Accel Partners and IDG Ventures India. The company will use the funds for geographical and product portfolio expansion. The medtech company that specialises in wound care also gave an exit with 7X returns to the company's first institutional investor, GVFL, an Ahmedabad-based venture capital firm. "We were focused on the Middle East and India but we will branch out now... get into Europe and the US. We are working on another product in wound care. We are also looking into the consumer segment... we want to introduce a product portfolio in that market. This will be both through channel tie ups and direct to consumer", said Axio Founder. Axio ...

Ratan Tata Backed Artificial Intelligence Startup Tied Up With Federal Bank

23Jan By RishabhNo Comments

BUSINESS

Ratan Tata Backed Artificial Intelligence Startup Tied Up With Federal Bank

Indian industrialist tycoon Ratan Tata backed Niki.ai has tied up with Kerala-headquartered Federal Bank to launch a virtual assistant in Federal Bank's smartphone application, a financial daily reported. Federal Bank confirmed saying that the chatbot will be helping customers to access m-commerce services right within the app, VCCircle reported. With this integration, the customers can simply perform operations by writing it in the virtual assistant's chat box like top-up their numbers, book movie tickets and pay their bills. The bills will automatically be charged on the user's account. “For payments, the customer need not get redirected to any other platform or take the hassle of loading their digital wallets, the debit happens directly from the federal bank account and the pay...