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Bengaluru Based Venture Firm Acquires Beverages Firm

9Jan By AnkitaNo Comments

ACQUISITION

Bengaluru Based Venture Firm Acquires Beverages Firm

Co-Create Ventures, a Bengaluru based investment firm has acquired Indulge Beverages, which owns coffee and tea brand Bonhomia. Financial details of the deal were not disclosed. "Indulge is a great company and the founders have done a fantastic job in building the brand Bonhomia. We are delighted to take on the baton from the founders and grow the company multi-fold over the next few years," Suresh Narasimha, CEO, Co-Create said in a statement. City-based Indulge Beverages was founded by London-based former investment banker Kunal Bhagat and ex-Pepsico executive Tuhin Jain. Both the founders exited the venture via sale to Co-Create. "Bonhomia has redefined coffee consumption in India and our figures show that the trend is here to stay. We have taken the brand from concept to market do...

Hyperlocal Tasks Management App dunzo Bags $12.3M From Google

5Dec By RishabhNo Comments

FUNDING

Hyperlocal Tasks Management App dunzo Bags $12.3M From Google

Alphabet Inc's tech giant Google has led a $12.3 million round in Bangalore based Dunzo Digital Pvt Ltd owned daily tasks management app Dunzo, ET reported. The round also saw participation from its existing investors Blume Ventures and Aspada Investment Advisors, a person familiar with the development told the source. The investment is part of Google's Next Billion Users (NBU) push. The startup, which is present only in Bengaluru right now, plans to expand to other cities across India. "We want to expand to top 5-6 cities by end of 2018 and scale up from 1 lakh transactions a month right now to 1 lakh transactions a day," Biswas told ET. dunzo provides hyper local services like employ its app for an assortment of errands such as pick up food or grocery from that don't have deli...

Bengaluru Businessman Filed Complaint Against Fraud By Flipkart

27Nov By AdityaNo Comments

News

Bengaluru Businessman Filed Complaint Against Fraud By Flipkart

Flipkart founders Binny and Sachin Bansal and three other executives have found themselves into another legal battle. As per the recent report by TOI a Bengaluru businessman Naveen Kumar, owner of C-Store Company has filed an FIR against them for a Rs 9.96 crore fraud. The copy of FIR with TOI quoted sales director Hari, accounts managers Sumit Anand and Sharauque among other employees. In his complaint lodged on November 21, Naveen has said that he had entered into a contract with Flipkart to supply laptops and other electronic goods, and had supplied 14,000 laptops to the company between June 2015 and June 2016 for its Big Billion Day sale. "Flipkart returned 1,482 units but did not pay for the remaining units. TDS and shipping charges for those units too were not paid. When asked...

15Nov By RishabhNo Comments

FUNDING

Healthcare Startup ElderAid Secures Angel Funding

[dropcap]B[/dropcap]engaluru based healthcare startup that provides social care support for senior citizens has raised an undisclosed amount of funding from Hong Kong based entrepreneur Rugmini Menon, it said in a press statement. This fresh funding will be used to boost up its operations and strengthen its customer management technology. Founded back in 2015 by Vandana Nadig Nair and Santosh Abraham, the startup provides a range of in-home healthcare services for senior citizens with services like caretaker support, doctors and emergency assistance. Besides that it also provides volunteers to accompany elders through social gatherings, events and support volunteering interests. “ElderAid Wellness was founded in response to a growing need within my own extended family. I saw my au...

27Oct By No Comments

BLOGS

The ‘Rule’ Of Continental Food In India

The British ruled India for over 200 years. So goes the story. Some do argue that they took a 100 years to conquer and ruled another 100 before they were sent back. But, that is a debate for another day. During this tenure they did influence many aspects in India. Education, medical services, fashion and food are probably some of the very obvious ones. Their influence on food is a definite yes as continental food is a huge contribution by the British to Indian culinary. Some stories do indicate that continental food was introduced to the then royal families of India by the British as a token of friendship. It is said that continental food percolated to the commoners through the kitchens of Indian royals. There is no way to ratify any such observations. The popularity and accep...

6Sep By AnkitaNo Comments

FUNDING

OncoStem Diagnostics Raises $6 Mn Funding From Sequoia Capital

Bengaluru based oncology startup, OncoStem Diagnostics, has recently raised $6 million from VC firm Sequoia Capital India Advisors, a senior executive of the company said. OncoStem focuses on personalized cancer treatment planning through the development of tests that try to effectively predict the chance of cancer recurrence in patients. It was founded by Manjiri Bakre in 2011. The startup earlier raised its first funding in 2011 from California-based VC firm Artiman Ventures which invested $3 million in the company in multiple tranches. “There are no affordable tests in India to accurately predict the risk of cancer recurrence. We aim to develop innovative and cost-effective tests that will help predict and assess the risk of recurrence in cancer patients, thus providing doctors ...

7Jun By Ankita SinghNo Comments

News

Flipkart Announces Hackathon to Deal With Bengaluru Traffic Problem

E-commerce major Flipkart today announced a hackathon to crowdsource "innovative", "implementable" solutions from the tech community and concerned citizens, that could help ease the cities perennial traffic problem. Termed "Gridlock Hackathon," the initiative marks the start of the "Month of Innovation" at Flipkart, a part of its 10th year anniversary celebrations, the company said. The contest will run from June 7, 2017 until June 21, 2017 and is open for technology-centric solutions, as well as those that partially leverage technology through out-of-the-box thinking, it said in a release. "The idea is to give back in some way to the city we all love, and ensure it retains the vibrant ecosystem that has been a major catalyst in the growth story of Flipkart and so many other ...

BHIVE Co-Working Space Raises $1.2 Million From Blume Ventures

5Jun By AdityaNo Comments

FUNDING

BHIVE Co-Working Space Raises $1.2 Million From Blume Ventures

Leading co-working and shared office space provider BHIVE Workspace has raised USD 1.2 Million in a fresh round of funding, to fuel its pan-India and international expansion of premium co-working spaces. The latest round is led by Blume Ventures, along with marquee investors like Actor-Director Ramesh Aravind, Mr. Meera Reddy, MD of SKCL and other high net-worth individuals. In an earlier funding round in 2015, BHIVE raised around USD 1 Million from Blume Ventures and high profile investors like Raghunandan G, Founder, TaxiForSure; Rajesh Rai, Venture Capitalist; Arihant Patni, Managing Director, Hive Technologies; Sanjay Mirchandani, Owner, Mirchandani Group; Arun Narayan, Director, UK India Business Council; among others. "In the last two years, we've expanded our co-working space ...

Bengaluru Firm Chosen For Building Hyperloop Pod Prototype

12May By Press Trust of IndiaNo Comments

News

Bengaluru Firm Chosen For Building Hyperloop Pod Prototype

Hyperloop India has tied up with a city-based Workbench Projects to build the prototype pod that will feature in the global design competition for the super fast transportation system using magnetic levitation technology. "Hyperloop India team has partnered with us to build the prototype pod in Bengaluru by the end of July. The building work will start from May 22. This will mark India's entry into the international Hyperloop race," Workbench Projects founder and CEO Pavan Kumar said today. Hyperloop India comprises more than 80 students from BITS Pilani, Indian School of Business and IIM-Ahmedabad, and their scaled down pod prototype 'OrcaPod' has been selected for the final stage of SpaceX's Hyperloop Pod Design competition, he told PTI. OrcaPod, being developed by Hyperloop Ind...

2Apr By AdityaNo Comments

News

Shell Opens New State of the Art Technology Centre in Bangalore

Up to 1,500 staff will work at the Bangalore technology centre. Their expertise will include gas technology, geological modelling, data analysis and computational research. Shell opened a new major technology hub in Bangalore today - a 52-acre, custom-built technology center - that can house up to 1,500 experts, who would collaboratively work on worldwide innovative energy projects. The inauguration was conducted in the presence of Chief Guest, Shri. Dharmendra Pradhan, Hon'ble Minister for Petroleum and Natural Gas, Govt. of India. Commenting on the opening of Shell Technology Centre Bangalore, Shri. Dharmendra Pradhan said, " India has an opportunity to make a significant contribution to the world's incremental energy needs in the years ahead. Shell is developing a waste-to-fuel tech...

Interior Design Startup Furdo Races to Profitability in Under 14 Months

22Mar By PriyankaNo Comments

Story

Interior Design Startup Furdo Races to Profitability in Under 14 Months

Bangalore-based online interior design platform, Furdo, has achieved what most well-funded startups have struggled to achieve since inception - 'Become Profitable'. Started with an angel investment of $400K, Furdo has been growing at an average of 30% month-on-month since April 2016, that lead to them achieving operational breakeven in September 2016. The key driver to this breakeven story lies in a single word, that everybody at Furdo across verticals and hierarchies, is asked to internalise - 'IMPACT'. "We are an impact focused organisation. Maximum impact from minimum effort/spend has always been the primary goal across verticals," says Ishwar Sundararaman, Co-founder & CEO, on the single-most important thing that has been responsible for Furdo's race to profitability. Foun...

Vacancy of Office Space Lowest in Bengaluru at 4%

12Mar By AdityaNo Comments

News

Vacancy of Office Space Lowest in Bengaluru at 4%

Bengaluru has the lowest vacancy of office space at nearly 4 per cent among the seven major cities on account of robust demand from corporates, according to property consultant JLL India. The demand of office space is expected at 8 million sq ft in the 2017 calendar year against 8.6 million sq ft occupied in last year. "Among the seven major office markets in India, Bengaluru continues to have the lowest vacancy levels at slightly less than 4 per cent," JLL India CEO and Country Head Ramesh Nair said in a report. "In a trend led by the IT capital of India, how can other IT cities be far behind? Pune and Hyderabad too have vacancy levels at over 5 per cent and 9 per cent respectively," he added. The vacancy level in Chennai is around 11 per cent, Mumbai 18 per cent, Kolkata at o...