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KKR Backed Emerald Media Invests $50mn in Video Platform YuppTV

11Oct By AdityaNo Comments

FUNDING

KKR Backed Emerald Media Invests $50mn in Video Platform YuppTV

Emerald Media, a Pan-Asian platform established by leading global investment firm KKR for investing in the media and entertainment sector today announced that it has acquired a significant minority stake in YuppTV for US$50mn. YuppTV is one of the world’s leading over-the-top (OTT) video platforms for South Asian content offering live TV, catch-up TV and movies on-demand in 14 languages across the globe. The growth capital will help company to further its global footprint, expand its content library through original productions and acquisitions, and rapidly grow its paid subscriber base. Headquartered in Atlanta, Georgia, YuppTV is a leading Internet Pay TV platform for South Asians, reaching more than 400 million households across the world. It also have more than 5 million monthly ...

10Oct By AnkitaNo Comments

FUNDING

Machine-learning Platform for Healthcare DocSynk Closes $1 Million Seed Funding

DocSynk's new machine-learning platform uses data science to put people in control of their healthcare, driving productivity and reducing costs for employers, insurers, and doctors. Finding doctors, scheduling appointments, keeping on top of insurance, and complying with wellness and treatment plans are challenges we all have to face. It's a lot to keep track of. DocSynk is working to make it all much easier with a smarter, simpler app that uses the latest in machine learning and data science to deal with the complexity. Today, the company announced that it closed a $1 million seed funding round led by Hyderabad-based Naya Ventures. "DocSynk's mission of bringing transformation in patient engagement is sorely needed in US healthcare. Organizations of every size are looking for DocSyn...

LIC, Pension Funds Must Step in To Fund Startups: DIPP Secretary

7Oct By Press Trust of IndiaNo Comments

News

LIC, Pension Funds Must Step in To Fund Startups: DIPP Secretary

Life Insurance Corporation of India and other pension funds "must step in" to fund startups, Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said on Friday. "LIC and other pension funds must step in... definitely that money needs to be leveraged," Abhishek said here at the India Economic Summit, jointly organised by CII and WEF. Speaking at a session on startups, founder of Pinstorm and Seedfund Mahesh Murthy stated that big companies like LIC and cigarette firms are found wanting as far as funding of start-ups is concerned. "I am taking note (of this suggestion)," Abhishek said, adding that the government is engaging with start-ups to resolve issues to give a push to budding entrepreneurs. On the Rs 10,000-crore Fund of Funds, the secretary s...

Facebook Has Invested $250M in VR “Oculus” To Make it More Social

7Oct By AnkitaNo Comments

FUNDING

Facebook Has Invested $250M in VR “Oculus” To Make it More Social

Zuckerberg said his company has invested $250 million to back developers building new games and other virtual-reality programs for Oculus, and is vowing to double that amount. The investment will make virtual reality more social as the industry gets more crowded. Facebook's Oculus division is hoping to distinguish its offerings from other leading tech companies whose selling their VR products. At an event on Thursday, the company announced a long-awaited shipping date - Dec. 6 - for its Oculus Touch hand controllers. In a two-hour presentation, Facebook CEO Mark Zuckerberg, meanwhile, donned one of those headsets for an onstage demonstration in which he visited Mars, played virtual cards with two other people, then made a video call to his wife while standing in a digital simulation ...

InnoVen Capital Invests $20 Million in 15 Deals

7Oct By AdityaNo Comments

BUSINESS

InnoVen Capital Invests $20 Million in 15 Deals

ANI- Asia's leading venture debt and specialty lending business InnoVen Capital has announced deals funded in the second quarter for FY17. The company has provided venture debt worth over $20 million in 15 deals across new clients on-boarded and existing portfolio companies that have exhibited strong performance. Among the new clients that InnoVen Capital has added to its growing portfolio are: OYO Rooms - Indian hotel brand that owns and operates as well as aggregates standardized hotel rooms, RAW Pressery - fresh cold pressed juices, and Rentomojo - online furniture rental platform. Between July and September this year, InnoVen as a platform has also closed its first two cross-border deals with Capillary Technologies and Simplilearn, in order to cater to their global aspirations an...

5Oct By AnkitaNo Comments

FUNDING

Pune Based Muhurtmaza Raises Funding From HNI investor

Pune based Muhurtmaza, an online puja booking service has raised an undisclosed amount of seed funding from a US based HNI investor. Muhurtmaza currently operates in Pune, Bengaluru and Hyderabad among a few other cities, and will focus on increasing consumer awareness and strengthening its supply chain over the next few months using this funding round. As per the company they are the first company in this space to have received funding so far. On Muhurtmaza customers can book a priest online, depending on specific rituals and samagri required to conduct the ritual. Sowale told Pixr8 "We currently have 300 pandits on our platform and the plan is to scale this up to 600 by January". According to various estimates, this market segment is pegged at about $30bn and is almost entirely uno...

Ratan Tata Backed Moglix Raises Rs. 28 Crore From Accel Partners, Jungle Ventures and SeedPlus

4Oct By AdityaNo Comments

FUNDING

Ratan Tata Backed Moglix Raises Rs. 28 Crore From Accel Partners, Jungle Ventures and SeedPlus

Leading B2B e-commerce company Moglix specializing in procurement of industrial products has announced that it has raised Rs. 28 crore in Series A round of funding led by Accel Partners with participation from Jungle Ventures and SeedPlus. Founded in August 2015, Moglix is focused on technologically disrupting the B2B Industrial products space for suppliers and buyers across the globe. Moglix has raised Pre-Series A funding from Accel Partners and Jungle Ventures in October 2015 and an undisclosed financial investment in the company by Ratan Tata in February 2016. Moglix caters to over 20,000+ SME buyers and 100+ large manufacturing houses through their platform. The funds will be deployed to expand operational footprint across major industrial hubs, increase the SME customer base by...

4Oct By NitishNo Comments

FUNDING

Global Payments Company Remitr Raises $1 Million Funding From Kunal Shah & Vijay Shekhar Sharma

MUMBAI, OCTOBER 4: Global payments company Remitr has raised around $1 million from a clutch of well-known global start-up founders and angel investors including Paytm founder Vijay Shekhar Sharma, FreeCharge’s Kunal Shah and Sandeep Tandon, GOQii founder Vishal Gondal, and Seedfund founder Pravin Gandhi. Founded in 2015 by Kanchan Kumar, Sandeep Jhingran and Sandeep Todi, Remitr’s platform routes end-to-end payments using its proprietary payment network, which integrates with clearing systems and third-party payment networks in various countries. There are a multitude of processing layers involved in cross-border payments, and each layer adds its own costs, coupled with exhaustive compliance requirements, making it expensive and complex. Remitr helps connects all the dots by ensuring c...

4Oct By reutersNo Comments

FUNDING

Juno, The Uber Rival Which Offers Equity to Drivers, Looks to Raise $50M Funding

Juno, a startup looking to attract drivers from bigger ride-sharing rivals such as Uber by offering them its own stock, is seeking $50 million in its biggest fundraising round to date, according to a person familiar with the matter. Investors have poured more than $28 billion into the ride services sector over the past decade, propelling growth at Uber, Lyft, China's Didi Chuxing and a host of smaller upstarts, such as Gett. Economists have said there may be scope for even more competition, because ride-sharing services are relatively cheap to start, depend on contract labour with no inherent loyalty or specialized skills, and have free apps that can be downloaded in seconds. Juno is working with investment bank Mizuho Financial Group Inc to find investors, according to the person...

Kiran Mazumdar Shaw Invested in Two Cancer Startups

4Oct By AdityaNo Comments

FUNDING

Kiran Mazumdar Shaw Invested in Two Cancer Startups

As per the report, Kiran Mazumdar Shaw, founder of Biocon invested in two cancer curated startups. She invested $1.6 million (around Rs 11 crore) in Philadelphia and Mumbai-based UE Lifesciences. UE Lifesciences, founded by Indian American entrepreneur Mihir Shah in 2015, earlier raised $3 million from Aarin Capital and received a grant of Rs 50 lakh from Unitus Seed Fund. Its develop an affordable breast cancer screening device. “Cancer therapy is not one-size-fits-all, if you stratify them based on genomics, among other things. So you can tailor-make therapy, which are less harsh and for that early detection is very important.”, Kiran said. Her bet on UE’s iBreastExam device is based on the uncomfortable experience women face with mammograms. But Shaw calls UE’s scans “intellige...

Ratan Tata Fosters Another Startup, Invests in Fitness Band GOQii

3Oct By Press Trust of IndiaNo Comments

FUNDING

Ratan Tata Fosters Another Startup, Invests in Fitness Band GOQii

Adding one more to his startup funding list, leading industrialist and serial investor Ratan Tata has invested in virtual fitness coaching platform, GOQii. The size of the funding was however not disclosed. The company, which is a leading player in the Indian wearables market, is backed by angel investors like Shriram Nene and his wife and Bollywood actress Madhuri Dixit Nene and Neeraj Arora (WhatsApp). It offers a fitness tracker band coupled with a personal coach. The US-based company had earlier raised USD 13.4 million in a series A funding in November 2015. "With the recent developments and tie-ups on the platform, the investment from Tata is a testimony to us being a defining player of services in our category making long-term impact in people's life," GOQii CEO and founder ...

Bengaluru Based Bitcoin Startup Unocoin Raises $1.5 million From U.S., Indian Investors

30Sep By AnkitaNo Comments

FUNDING

Bengaluru Based Bitcoin Startup Unocoin Raises $1.5 million From U.S., Indian Investors

Bangalore-based bitcoin startup, Unocoin has raised $1.5 million in funding from a mix of Indian and U.S. investors, the company announced on Thursday. The company, which runs a trading platform to buy, sell, and store bitcoins for Indian customers, said the money raised was the largest for an Indian bitcoin startup. Unocoin, which has 100,000 users and more than 30 employees, has been in operation since December 2013. Unocoin describes itself as the Coinbase of India. San Francisco-based Coinbase is the largest U.S. bitcoin company and runs an exchange and a wallet service, among other businesses. Funding came from Indian entities such as Blume Ventures, Mumbai Angels and ah! Ventures along with U.S. investors such as Digital Currency Group, Boost VC, Bank to the Future, and Fund...