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24Aug By PriyankaNo Comments

FUNDING

Shaadisaga Raises Funding From Kunal Shah & Others

New Delhi: Online wedding platform Shaadisaga had raised an undisclosed amount of pre-series A funding from Anupam Mittal, founder of matrimonial website Shaadi.com, Freecharge founders Kunal Shah and Sandeep Tandon, and Dheeraj Jain, partner at UK-based hedge fund Redcliffe Capital. ah!Ventures and Rohit Chokhani of White Unicorn Ventures were among the other investors who participated in the round. Founded by Himanshu Kapsime and Manish Garg, Shaadisaga offers couples wedding planning services, providing photographers, make-up artists, marriage venue and so on. “Our team is using technology to essentially bring the offline wedding planning experience onto an online platform, while adding convenience and cost-effectiveness,” said Kapsime. The company will use the money in technolo...

NCR Startups Face Funding Crunch; Attract Just $170M in 2016

24Aug By Press Trust of IndiaNo Comments

ANALYSIS

NCR Startups Face Funding Crunch; Attract Just $170M in 2016

Funding activity in the national capital region witnessed a slowdown with deals signed worth $170 million in 155 transactions so far this year, says a report. According to 'VCCEdge Startup Funding Insights' the NCR startup ecosystem witnessed funding crunch and attracted $170 million (about Rs 1,140 crore) this year. "At the going run-rate, funding deals for the year 2016 may not be able to cross the 2014 deal value of $289 million," the report said. The year 2015 was a landmark year that registered a deal value totalling $608 million as against $289 million in 2014. "The slowdown is attributed to investor pragmatism and selectiveness in funding enterprises that have business models that best optimise the funding they receive. Startups have to, perforce, 'Conserve and Grow...

19Aug By NitishNo Comments

FUNDING

Cuberoot Technologies Raises Nearly $0.5 Million in Funding

Cuberoot Technologies, a preeminent data driven technology company, recently raised nearly USD 0.5 million from undisclosed investors. The funds will assist the organization to expand its business across the country and shall further be utilized in scaling up growth parameters such as expansion of technology team, enhancing product technology, investing in better infrastructure and strategic acquisitions. Cuberoot is geared to launch its flagship product; an Audience Management Platform also known as Cuberoot in the Indian market in the coming months, expanding to other cities in the upcoming months. Also,the company will be incorporating bases in Asia - Pacific market over the next 12-18 months. Such installations of sufficient funds will play a major role in the growth of the or...

19Aug By PriyankaNo Comments

FUNDING

Salebhai.com Secures INR 10 Cr Funding From Brand Capital

Salebhai.com, an e-commerce platform for regional goods from across India that is representative of a culture, has received a major boost from Brand Capital of Times Group. The media conglomerate has come on board with a deal size of Rs 10 crore for a minority stake in the company. The online portal, which operates on a back-to-roots philosophy, currently meets requirements of 17 diaspora communities by sourcing authentic and unique products from their native places. It offers sweets, namkeen, chocolates, bakery, spices, dry fruits, beverages, pickles, handicrafts, paintings, puja items, and herbal products from over 100 cities and 250 sellers. Brand Capital has decided to back this portal considering the huge opportunity in solving a longstanding problem through an integrated platfo...

11Aug By reutersNo Comments

News

Google Ventures CEO Bill Maris Quits

Bill Maris, the chief executive and founder of Alphabet Inc's venture capital arm GV, is leaving the company, Recode reported, citing sources. Maris, who leaves on Friday, will be replaced by GV managing partner David Krane, Recode said. on.recode.net/2b0aaNx A GV spokeswoman declined to comment on the report. GV, previously known as Google Ventures, was founded in 2009 and has invested in more than 300 companies including Uber Technologies Inc and online retailer Jet.com, according to GV's website. Alphabet's projects have seen some high-profile departures in recent months. Chris Urmson, chief technical officer for its self-driving car project, left last week, while Anthony Levandowski, product manager for the program, left earlier this year to co-found a startup. Tony Fade...

Zenoti Raises $15 million From Norwest VP & Accel

11Aug By AnkitaNo Comments

FUNDING

Zenoti Raises $15 million From Norwest VP & Accel

Zenoti a SaaS based startup which provides cloud-based software for spas and salons has raised Rs 100 crore ($15 million) led by Norwest Venture Partners along with existing backer Accel India. Zenoti had already received funding of Rs 38 crore from Accel last year. The Seattle and Hyderabad-based company founded by serial entrepreneur Sudheer Koneru, now plans to aggressively expand operations in the United States and European markets. Zenoti already earns about half its revenues from clients in the US including large chains like Massage Green and Massage Heights. In India it has clients like Kaya Skin, Enrich Salons, O2 Spas and Blush Clinics. It recently also got Naturals on board with all its 600 outlets throughout the country. In the US market, Zenoti will compete with player...

8Aug By AnkitaNo Comments

FUNDING

AdPushup Raises Series A Funding; Enters into Partnership With Japan’s Largest Supply

US-based ad tech startup AdPushup, creator of a patent-pending ad layout optimization platform, has secured an undisclosed amount of financing as part of its Series A round led by Geniee Inc , whose major shareholder is SoftBank Group Corp; other investors include Purvi Capital, and existing investors have also participated in the round. The companies have also formed a strategic partnership aimed at extending services to Japan and Southeast Asia and collaborating mutually on proprietary ad optimization technologies. Geniee currently serves over 60 billion impressions every month in this region, which are to be further optimized using the machine-learning driven ad layout optimization platform developed by AdPushup. Both companies aim to bring together their strengths in terms of pro...

8Aug By AdityaNo Comments

FUNDING

8TV Raises $500,000 Funding To Enter Indian market

San Francisco-based startup 8TV has raised USD 500,000 funding (about Rs 3.34 crore) from investors including Redcliffe Capital Managing Partner Dheeraj Jain, Google executive Tidhar Carmeli and angel investor Thomas Korte. The company, which offers short form video network for brands, is also supported by the US tech giant Amazon that has invested about USD 100,000 worth of AWS services credit. The startup graduated from Angelpad, a tech accelerator in Silicon Valley, and its customers include firms like Unilever. "We have received a USD 500,000 investment from Dheeraj Jain (Managing Partner at Redcliffe Capital), Tidhar Carmeli and Thomas Korte (ex Google and Angelpad), with additional USD 100,000 invested by Amazon in form of AWS services," 8TV founder Leon Crutchley said. The i...

How Apple Backing Helped China’s Taxi Aggregator Didi Chuxing To Outrun Uber in China

4Aug By reutersNo Comments

Story

How Apple Backing Helped China’s Taxi Aggregator Didi Chuxing To Outrun Uber in China

Apple Inc's $1 billion investment in car-hailing app Didi Chuxing in May helped accelerate Uber's decision to agree a halt to a costly two-year battle with its rival in China, people close to the companies and analysts said. Didi Chuxing Technology Co and Uber Technologies Inc raised billions of dollars in funding and spent heavily on discounted rides as they slugged it out for drivers, passengers and market share in the world's second-biggest economy. Uber finally ceded this week, realizing it was no match for a cash-rich rival with the backing of three of the world's largest technology giants. It agreed to give up its independence in return for a nearly one-fifth stake in a bigger Didi. Didi raised far more money than Uber China making China the first market where Uber's strategy of...

24Jul By Press Trust of IndiaNo Comments

FUNDING

Qdesq Raises Angel Funding To Tap Workspace Market

Qdesq, a workspace rental platform, has raised an undisclosed amount from a clutch of investors, led by Kajaria Ceramics Joint MD Rishi Kajaria, Jaipuria Beverage and Food Director Ruchirans Jaipuria and Jai Drinks Director Anuraag Jaipuria. The angel round also saw participation from existing investors Dheeraj Jain (Partner, Redcliffe Capital), Ankush Nijhawan, Gaurav Bhatnagar and Manish Dhingra. The company, however, declined to share details of the funding. "We are currently at 216 venues across Delhi NCR in both formats - short occupancy (meeting rooms, workspace for a day and Qcafe) as well as long occupancy (workspace on monthly basis). With a current growth of 60 per cent month-on-month on the revenue side, 20-25 Qdesq verified venues are appended to the list on supply side ...

22Jul By RishabhNo Comments

FUNDING

Skrilo Raises $1.5 Million In Seed Funding

Mobile marketing and rewards platform Skrilo today said it has raised $1.5 million in seed funding from a clutch of industry veterans. "The roster of investors includes Anuj Srivastava (ex-Google, CEO and Co-founder - Livspace) and Arvind Tiku (Founder and Group Chairman, AT Capital Group) amongst others," the company said in a statement. It will use the funding largely for marketing a reward programme to the consumers and building on product pipeline. "In India, it is estimated that the smartphone usage will jump from 200 million to 650 million in the next 3-4 years. Digital advertising is still in its nascent stage and mobile marketing is an extremely small percentage of digital advertising and overall global advertising and marketing industry today," Skrilo founder and CEO M...

Day Before IPO Advanced Enzyme Tech Raises Rs 123 crore

20Jul By NitishNo Comments

FUNDING

Day Before IPO Advanced Enzyme Tech Raises Rs 123 crore

Ahead of its initial public offer tomorrow, Advanced Enzyme Technologies today mopped up nearly Rs 123 crore from as many as 15 anchor investors. Little over 13.71 lakh shares were allotted to the anchor investors at Rs 896 apiece, the upper end of the price band for the Rs 411 crore IPO. DB International (Asia) Ltd, Kuwait Investment Authority Fund, DSP Blackrock Equity Fund, SBI Life Insurance Company Ltd, L&T Mutual Fund Trustee Ltd and Kuwait Investment Authority Fund, DSP Blackrock Equity Fund, SBI Life Insurance Company Ltd, L&T Mutual Fund Trustee Ltd are among the anchor investors. Advanced Enzyme Technologies is the largest domestic enzyme company, engaged in research, development, manufacture and marketing of over 400 proprietary products developed from 60 indigenous e...