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Cryptocurrency Platform Liquid.com becomes Unicorn

4Apr By AnkitaNo Comments

FUNDING

Cryptocurrency Platform Liquid.com becomes Unicorn

Global cryptocurrency platform Liquid.com raises Series C funding that puts the company valuation at over $1 billion. This valuation establishes Liquid as one of only two tech unicorns in Japan's startup space. Founded in 2014, Liquid has achieved unicorn status in less than five years. This latest round of funding is led by investment firm IDG Capital, with participation from the world's largest maker of cryptocurrency mining rigs, Bitmain Technologies. This investment in Liquid marks an addition to IDG's current portfolio of crypto investments, which include Coinbase, Ripple, Bitmain and Kakao's crypto unit. This deal marks the latest investment for Bitmain this year into a regulated digital asset trading platform, following their investment into ErisX, another deriv...

Tencent raises $6 bn funding through bond sales

4Apr By AnkitaNo Comments

CHINA

Tencent raises $6 bn funding through bond sales

Shenzhen-based internet giant Tencent raises USD 6 billion in the bond sale. This is one of the biggest money collection through bond sales in Asia this year. Tencent confirmed this news in a filing to the Hong Kong stock exchange on Thursday with the biggest 10-year tranche of USD 3 billion priced at 3.975 percent. The social media giant in china also sold a five-year tranche of USD 2 billion in fixed and floating rate, USD 500 million in seven-year notes, and USD 500 million in 30-year notes. The dollar bond offering marks the biggest sale in Asia excluding Japan so far this year, according to data compiled by Bloomberg News, when sources tipped the offering to raise around USD 5 billion earlier this week. "The market is keenly anticipating Tencent's jumbo offering given the ...

New Street Technologies raises USD $2 Million

4Apr By AdityaNo Comments

FUNDING

New Street Technologies raises USD $2 Million

Bengaluru, March 25, 2019: Bengaluru-based technology company New Street Technologies has raised a USD 2 million investment led by Unitus Ventures & Other investors including Mohit Davar, Chairman, International Association of Money Transfer Networks etc. Founded in August 2017, New Street Technologies builds and operates blockchain enabled platforms for institutional clients. The company’s flagship platform – MIFIX brings together, banks, business correspondents and cash outlets to efficiently originate and manage credit through easy integration with existing systems and processes. MIFIX has a wide range of customers such as banks, non-banking financial corporations, and money transfer operators / networks in India and overseas. It is estimated that the market for smal...

Venuelook, an online marketplace for booking venues raises pre-series A

2Apr By AdityaNo Comments

FUNDING

Venuelook, an online marketplace for booking venues raises pre-series A

New Delhi: Venuelook, an online-to-offline (O2O) platform and marketplace for venue aggregation, recommendation and booking has raised an undisclosed amount in their pre-series A funding from marquee angel investors and successful entrepreneurs like Srikant Sastri (Co-founder, Crayon Data), Shailesh Rao (Senior Advisor - TPG; McKinsey & Co; Board Member - JLL), VP Rajesh (Managing Partner - Banyan Capital Advisors LLP) and Vishal Sampat (Founder of Convonix). Venuelook’s proprietary aggregation and AI backed algorithms help identify and match customer requirements with the best venue options available, thus simplifying the venue discovery and booking process for weddi...

1Apr By NitishNo Comments

FUNDING

Zivame Closes around $8 million in Series C Funding

Online lingerie brand Zivame raises around $8 million additional funding as part of a bridge round, led by Zodius Technology Fund and a group of high net worth individuals. The latest fund infusion, which is part of the company's Series C funding, will be followed by a larger round later in 2019. Zivame, however, did not disclose details of the larger round that is being planned. "The funding will enable us to further enhance our footprint and leadership in existing and newer markets as we continue to build on our mission to be the destination for women for all her intimate needs. We continue to build the category as the Indian lingerie market is largely unorganised and under-served," Zivame Chief Executive Officer Amisha Jain said.She added, that the funds would be used for ongoing...

BigBasket raises $150 million from Alibaba and Others

29Mar By PriyankaNo Comments

FUNDING

BigBasket raises $150 million from Alibaba and Others

Mirae has pumped in about $60 million, while CDC and Alibaba have infused $40 million and $50 million, respectivelyBigBasket has previously stated that it aims to garner $2.5 billion (around 17,500 crores) in revenue by 2020. New Delhi: Online grocery platform BigBasket has raised about $150 million from South Korea's Mirae Asset Management, UK's CDC Group, and existing investor Alibaba, according to regulatory filings. BigBasket had raised $300 million in February last year from Alibaba and others. In November, it had said it was looking at raising fresh funds of up to $200 million. Mirae has pumped in about $60 million, while CDC and Alibaba have infused $40 million and $50 million, respectively, according to documents filed with the corporate affairs ministry. The grocery se...

29Mar By Press Trust of IndiaNo Comments

FUNDING

Inito becomes the First Medical Device Startup from India to Secure Funding from Y Combinator

New Delhi: Inito, a Bangalore based medical technology startup, has been selected by Y Combinator in their Winter ’19 Cohort. By doing so, it becomes the first Indian medical device startup to be supported by Silicon Valley based Y Combinator. The Silicon Valley based startup incubator boasts of a portfolio of well-known startups like AirBnB, Reddit, Quora and Dropbox etc. Inito’s flagship innovation is a small device that enables smartphones to perform lab-grade fertility diagnostic tests at home. The device is based on the company’s patent-pending ‘Flat-lens’ technology and comes with the Inito Reader, App and test strips. Right now, Inito’s Monitor measures two fertility hormones, Estrogen & Luteinizing Hormone (LH), in urine and enables women to track their fertile days at home...

Delhivery Raises $413 Million From Softbank Vision Fund

26Mar By reutersNo Comments

FUNDING

Delhivery Raises $413 Million From Softbank Vision Fund

MUMBAI: Delhi based logistics service provider Delhivery has raised fresh investment of $413 million in a financing round led by the Softbank Vision Fund, they said in a joint statement on Sunday. Carlyle and Fosun, both existing investors in the e-commerce business, also participated in the latest financing round. Delhivery was founded in 2011 as a food delivery company but has since shifted to providing a full suite of logistics services in more than 1,800 cities. "We will be scaling up our newer warehousing and freight services through large investments in infrastructure and technology and global partnerships, in addition to improving the reach, reliability and efficiency of our transportation operations and sharing these benefits with our customers and partners," Delhivery CEO...

23Mar By NitishNo Comments

FUNDING

Doubtbox Raises Investment From Times Group Owned Brand Capital

Kochi, Kerala, India: The strategic investment arm of the Times Group Media House, Brand Capital, has done an Investment of undisclosed amount in a Kerala based Educational Technology startup company, Doubtbox. Doubtbox is a learning platform that will make the child learn effortlessly and easily.Doubtbox is founded by the promoters of eTutor, a path-breaking digital content repository, which is used by more than half a million school students for the last one decade. According to Ranjith Balan, the Founder and CEO of Doubtbox, the freshly raised funds will be used for branding in order to compete with other players especially Byju’s and Toppr Learning. Post this funding, the valuation of Doubtbox is expected to be between INR 50 Crores and 60 Crores. The online education sec...

Investment Father of Indian Startups “Lee Fixel” is Leaving Tiger Global

15Mar By PriyankaNo Comments

News

Investment Father of Indian Startups “Lee Fixel” is Leaving Tiger Global

Lee Fixel, one of the most famous low flying name of Tiger Global is leaving the company, according to a letter sent to clients on Thursday seen by Reuters. In the letter, it's written that Lee Fixel a partner and head of the $13 billion private equity business at Tiger Global Management LLC, plans to leave the firm on June 30. Scott Shleifer and Chase Coleman will continue as co-portfolio managers of Tiger Global’s private equity business, with Shleifer to take over as its head, according to the letter. Fixel, who joined Tiger Global in 2006, will invest his own money and “may start an investment firm in the future,” Tiger Global wrote in the letter. “We are grateful for Lee’s innumerable contributions,” the letter said. “Lee has been a driving force behind the expansion of T...

14Mar By AnkitaNo Comments

FUNDING

Acko raises USD 65 mn from Investors

Acko on Wednesday said it has raised USD 65 million from investors, including Flipkart co-founder Binny Bansal. The round of funding also saw participation from existing investors such as Amazon, Accel, SAIF and TechPro Ventures, the company said in a statement. Founded in 2016, Acko General Insurance claims to be the country's first digital native insurer, offers an intuitive purchase experience, cheaper prices and stress-free claims. The company uses a direct-to-consumer approach for distributing motor insurance, allowing for favourable risk selection and superior underwriting. Earlier, the company raised its largest seed rounds of $30 million. Founded by Varun Dua in 2016, Acko completed 12 months of operations and distributed over 20 million insurance policies to customers...

Ola, Hyundai in talks for $300 million fund infusion

9Mar By Press Trust of IndiaNo Comments

News

Ola, Hyundai in talks for $300 million fund infusion

NEW DELHI: Ola is in talks with Hyundai Motor Company for investing about USD 300 million in the cab-hailing platform, according to sources. The discussions are at an advanced stage and a deal could be closed in the next few weeks, sources said. If the deal goes through, it would be Hyundai's second investment in the Indian startup ecosystem. Previously, it had led a ₹100-crore funding round in car rental startup Revv. Ola did not respond to an e-mailed query on the development. A Hyundai Motors India spokesperson said the company is "open to cooperation with various potential partners but it is our policy not to comment on market speculation and rumours". The fresh funding will give the Bengaluru-based company more ammunition to compete with rival Uber in I...