funding | Pixr8 News

Now Softbank Said Paytm Karo, Invested $1.4 Billion in Paytm

18May By AnkitaNo Comments

FUNDING

Now Softbank Said Paytm Karo, Invested $1.4 Billion in Paytm

Japanese conglomerate SoftBank has pumped in USD 1.4 billion (over Rs 9,079 crore) in Indian digital payments platform, Paytm, marking the largest fund infusion by a single investor in an Indian start-up. This is Softbanks largest investment in a single company in India. While both the companies have declined to comment on the valuation, market watchers say that the deal values Paytm at about USD 8 billion. The funding will help Paytm expand fast its soon-to-be launched payments bank operations as well as grow its user base and introduce more financial products for consumers. SoftBank joins Alibaba and its payments affiliate Ant Financial as amongst the largest investors in One97 Communications which operates Paytm. Interestingly, SoftBank was an early investor in Alibaba. "In ...

The Indian Institute of Management Kozhikode (IIM-K) Launches Business Incubator LIVE

16May By RishabhNo Comments

News

The Indian Institute of Management Kozhikode (IIM-K) Launches Business Incubator LIVE

The Indian Institute of Management Kozhikode (IIM-K) has launched its Laboratory for Innovation, Venturing and Entrepreneurship (LIVE), a business incubator and entrepreneurship development center. A proposal for LIVE was submitted by the institute in 2016, following which the Department of Science and Technology (DST) sanctioned a grant of Rs three crores. IIM-K has made available required space and facilities on campus and is developing a series of programmes and products that would ensure long term sustainability of LIVE, which has offered admission to twelve startups in its first ever job creation programme, an IIM-K release said here today. "LIVE would gain immensely from the faculty members, students, alumni, international linkages and other institutional networks of IIM-Ko...

Fynd Raises Series A of USD 500k From Silicon Valley Based Rocketship

15May By AnkitaNo Comments

FUNDING

Fynd Raises Series A of USD 500k From Silicon Valley Based Rocketship

Mumbai, May 15th, 2017: Underlining its commitment to offer superior customer experiences with real time fashion discovery, Fynd, the unique fashion e-commerce portal, recently raised follow-up funds of USD 500k from Silicon Valley-based Rocketship. This new capital has been raised in an extension of the Series A funding round wherein the fashion e-commerce portal had raised USD 500k from Venture Catalysts in March. Fynd seeks to chiefly utilise the funds to strengthen its tech backbone, optimize its operations and further enhance its customer offerings as well as strategies. Fynd will leverage the VC firm’s expertise in data mining and machine learning capabilities to emerge as a household name in the fashion e-commerce space. The Series A funding comes close on the heels of the compan...

15May By PriyankaNo Comments

FUNDING

E-commerce Platform Infibeam to Invest $468k in RemitGuru

E-commerce firm Infibeam Incorporation Ltd has agreed to invest Rs 3 crore ($468,000) in global digital remittance solutions platform RemitGuru. “As a part of this investment transaction, Infibeam and CC Avenue will invest Rs. 3 crore in RemitGuru wherein Infibeam will invest Rs. 2 crore,” Infibeam said in a statement. The deal would be a cash deal transaction helping Infibeam to increase cross-border e-commerce business transactions with cash-free modes through fintech solutions. CC Avenue already holds 26.76 per cent stake in RemitGuru. “This partial acquisition would not fall within related party transactions and no governmental or regulatory approvals are required for the same,” it said. займ в тамбовезайм на 100000займ на карту честное слово...

14May By PriyankaNo Comments

FUNDING

Online Fee Platform OnFees Looking to Raise Fresh Funding

Cash may have been the most-prevalent payment mode for educational institutions traditionally, but a push for digital economy post-demonetisation is making them change too and this has prompted three young professionals to start OnFees an online fee platform. Having tasted big success in Mumbai region with 35 organisations including some chains of institutions, and over 70,000 students on board in a very short span of just about 3 months, OnFees is now looking to expand to other parts of the country and is in talks for the second round of funding. While the first round of funding came from HNIs, the startup is looking for funding from established private equity and venture capital firms in India and abroad, its Chief Marketing Officer Manisha Thakur told Pixr8. 30-year-old Manisha...

12May By AdityaNo Comments

FUNDING

LegalRaasta Raises INR 32 Crore Series A Funding From Impanix Capital

The Delhi-based startup, LegalRaasta, which provides finance and taxation services to SMEs, raises approximately $5 million in Series A funding from Impanix Capital. LegalRaasta intends to use these funds in building GST compliance software for SMEs, CAs and enterprises. They will offer both - a standalone GST Software and an API interface, to connect ERP (such as SAP, Oracle and Tally) with GST systems. LegalRaasta has already applied as a GSP (GST Suvidha Provider) with the government. LegalRaasta intends to serve its existing SME clients and over 80 lakh+ potential SMEs to be covered under the GST regime. Through its GST software solution, LegalRaasta intends to simplify GST filing through features such as reconciliation, excel upload, app-based GST filing, etc. LegalRaasta alread...

12May By reutersNo Comments

FUNDING

SoftBank Investing $5 Billion in China Ride Hailing Firm Didi Chuxing

SoftBank Group Corp said it has agreed to invest $5 billion in China's Didi Chuxing, confirming it led a recent fund-raising round by the ride-hailing firm that sources said valued Didi at more than $50 billion. Didi said last month it raised more than $5.5 billion to expand its business overseas and develop artificial intelligence technology. Sources had said investors included SoftBank. A SoftBank spokesman said on Friday the investment was related to Didi's last fund-raising round. SoftBank is trying to transform itself into the "Berkshire Hathaway of the tech industry" with the launch soon of a $100 billion technology fund as telecoms services markets mature. It has already announced plans to invest at least $25 billion over the next five years in the fund, which would be o...

Vidooly Raises $1.4 Million From GVFL, Times Internet

10May By Press Trust of IndiaNo Comments

FUNDING

Vidooly Raises $1.4 Million From GVFL, Times Internet

Video intelligence startup Vidooly has raised USD 1.4 million (Rs 8.9 crore) in funding from GVFL and Times Internet. Vidooly will utilise the series A funds towards product engineering, marketing, and enhancing sales and distribution channels, it said in a statement. Previously, the company has raised about USD 1 million. "Video consumption over the last couple of years has exploded given faster and affordable internet access and also the rising demand for devices and high quality online content," Vidooly co-founder Nishant Radia said. The aim is to be a dominant player in this space globally, he added. "We plan to utilise the funds raised to expand in attractive markets such as the US, Europe and Asia and also strengthen the team at Vidooly," he said. Vidooly was also a par...

FinTech Startup EarlySalary Raises USD 4 Million From IDG Ventures India & Others

10May By AdityaNo Comments

FUNDING

FinTech Startup EarlySalary Raises USD 4 Million From IDG Ventures India & Others

EarlySalary India’s first FinTech startup to offer Salary Advances and Instant Cash Loans has announced its Series A funding of $4 Million from IDG Ventures India (IDGVI) and Dewan Housing Finance Corp Ltd (DHFL). The company focuses on helping young working professionals get Instant Loans and Salary Advances in minutes and is fast becoming the first line of credit to young working Indians. More than 80% of its customer base is in their first career roles and most of them are new to credit and are first time borrowers. Over the past year, EarlySalary developed its Underwriting System which is a self-learning Algo Based Decisioning System. The System in real time reviews Social Media and Credit Bureau data of customers and helps approve the loan for them. Targeted at young working pro...

Cyber Security Startup Sequretek Raises $2 Million

9May By AdityaNo Comments

FUNDING

Cyber Security Startup Sequretek Raises $2 Million

Cyber security start-up Sequretek today said it has raised funding from GVFL and Unicorn India Ventures. While the company did not disclose the size of the funding, sources said Sequretek has raised under USD 2 million in fresh funding in the series A. The Mumbai-based company plans to use the funds for further building on intelligence within their current product offerings and foray into new markets within India and outside, Sequretek said in a statement. Launched in 2013 by Anand Naik, Sequretek offers a suite of products and services to enterprises for securing information. Its clients include HDFC Bank, IDBI Federal, HDFC Limited and NCDEX as well as companies in sectors like retail, pharma and IT-ITeS. The founders had pumped in about Rs 4.5 crore in 2013 and raised USD...

Paytm Looking To Invest 193 Crore in Mumbai Based Insider.in

8May By PriyankaNo Comments

FUNDING

Paytm Looking To Invest 193 Crore in Mumbai Based Insider.in

Alibaba-backed Paytm is in discussions with Insider.in to pick up stake in the Mumbai based events platform for about Rs 193 crore. According to sources, Paytm could pump in as much as USD 30 million to pick up majority stake in Insider.in. They added that the deal could be announced in the next few weeks. Mails sent to Paytm and Insider.in did not elicit any response. Insider.in is a leading ticketing platform for events and properties, which includes the likes of Bacardi NH7 Weekender and TV series The Dewarists. If the deal fructifies, the digital payments and commerce platform will be able to strengthen its presence in the online ticketing business. The sources said Paytm has scaled up its operations in the movie ticketing business and now, the Noida-based firm is lookin...

Online Match Making Platform Matrimony.com Files For Rs 350 Crore IPO

8May By AnkitaNo Comments

BUSINESS

Online Match Making Platform Matrimony.com Files For Rs 350 Crore IPO

Matrimony.Com, which runs online match making business under BharatMatrimony brand, today filed draft papers with markets regulator Sebi to raise an estimated Rs 350 crore through an IPO. The initial public offer (IPO) consists of a fresh issue aggregating up to Rs 130 crore and an offer for sale of up to 3,767,254 equity shares. Proceeds from the issue will be utilised for advertising and business promotion activities, purchase of land for construction of office premises in Chennai, repayment of overdraft facilities and general corporate purposes. According to sources, the company is expected to garner Rs 350 crore through the public offer. Axis Capital and ICICI Securities are the book running lead managers to the issue. Matrimony business currently comprises two segments ...