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Fashion Venture 6Degree Raises $200K From IAN

9Jun By AnkitaNo Comments

FUNDING

Fashion Venture 6Degree Raises $200K From IAN

Indian Angel Network (IAN),India's largest angel investor group, has invested $200,000 in fashion talent and tech startup 6Degree. 6Degree said it will use the proceeds from the round to enhance its technology and to expand its reach. It also plans to expand its fashion services and launch enterprise solutions for fashion weeks. "Fashion as a genre cannot be underrated and it is important to integrate technology with fashion. Our aim is to unite various domains of fashion and create one holistic group of like - minded people," said Nikhil Hegde, chief executive of 6Degree. Founded in 2014 by Hegde and Amit Bhardwaj, 6Degree offers a platform that brings together various members of the fashion and lifestyle sector, such as, fashion designers, bloggers, brands, model's and photographers. T...

8Jun By AdityaNo Comments

FUNDING

UK Based Koovs Raises 30 Cr Funding From HT Media

UK-based online fashion player Koovs plc today announced raising 3.3 million pounds (over Rs 30 crore) from HT Media Ltd and Dragon Asia Holdings Pte Ltd to fund its marketing and brand building activities in India. Koovs said it has issued 1.2 crore new ordinary shares at a price of 25 pence per ordinary share to HT Media translating to 8.2 per cent stake in the enlarged issued share capital of the fashion portal. Similarly, the company issued 12 lakh new ordinary shares at a price of 25 pence per share to Dragon Asia Holdings Pte Ltd taking total holding in it to 19.2 per cent. "This investment shows further momentum in our Capital Raising and supports our focus on marketing in order to accelerate brand awareness and sales growth for Koovs in India. Our ambition remains t...

8Jun By AdityaNo Comments

FUNDING

CreditVidya Raises $2M Series A Funding From Kalaari Capital

Kalaari Capital, an early-to-mid-stage venture capital firm invested a Rs 13.3 crore funding in Mumbai-based startup CreditVidya. Creditvidya is a financial technology startup Infocredit Services, which operates credit score advisory platform. It has also received additional 1 crore from Paragon Partners, Siddharth Parekh, an early backer of the venture of the creditvidya in his personal capacity. The company will use the Series A funding to further build its technology platform, launch new products and expand its headcount, with a particular focus on ramping up its data sciences team. "India's demographic profile consists primarily of people without a credit history. CreditVidya's solutions enable lenders to increase profitability by more accurately assessing the credit risk o...

Education Start-up Cuemath Raises $4 million

7Jun By AdityaNo Comments

FUNDING

Education Start-up Cuemath Raises $4 million

Cuelearn Pvt Ltd also known as Cuemath runs an Education start-up has raised $4 million from Sequoia venture capital firm and existing investor Unitus Seed Fund. With this round of funding, Cuemath aims to expand to international markets and increase the number of teachers that use its platform from 1,200 to 5,000. The firm declined to say how many students use its platform. “What we are essentially saying is that we don’t require someone to teach actively. Unlike others, in our case, the system is doing the teaching, and not the teacher. Math is the biggest need for children. Fitting many subjects into the same time slot will dilute the learning,” said Manan Khurma, founder of Cuemath. The firm had in August raised an undisclosed amount from Alok Mittal, former managing director of ...

Naspers Invests $60 Million in Online-Learning Startup Udemy

3Jun By NitishNo Comments

FUNDING

Naspers Invests $60 Million in Online-Learning Startup Udemy

Udemy, a global marketplace for learning and teaching online, today announced a strategic investment of $60 million from Naspers through its Naspers Ventures division. Larry Illg, CEO of Naspers Ventures, is joining Udemy’s Board of Directors. Udemy plans to use the new capital to continue its strong international momentum, including growing its localized course content library and product offerings to meet the global demand for online learning. The investment is a follow-on to Udemy’s $65 million Series D round of financing from June of 2015. Over the past year, Udemy has experienced significant growth, particularly among its international business. With more than 40,000 courses now available in 80 different languages, Udemy offers the largest selection of online course content. ...

3Jun By AdityaNo Comments

FUNDING

Jobs Aggregator Platform Glassdoor Raises $40 million Funding

Glassdoor, Inc., the world's most transparent jobs and recruiting marketplace, today announced the closing of a $40 million investment round led by funds and accounts advised by T. Rowe Price Associates, Inc. Existing investors Battery Ventures, Google Capital, Sutter Hill Ventures and Tiger Global also participated in the round. The company has raised approximately $200 million since it was founded in 2007. While best known for its proprietary user-generated content, Glassdoor is now one of the largest job aggregation engines in the world. No other job site offers as many job listings combined with such a vast array of workplace insights, including company ratings and reviews, CEO approval ratings, detailed pay data by job title, interview reviews, benefits reviews and office photos...

Venture Catalysts Seed Investment in Fashion Startup CoutLoot

2Jun By NitishNo Comments

FUNDING

Venture Catalysts Seed Investment in Fashion Startup CoutLoot

Venture Catalysts, India's first seed investment and innovation platform, has facilitated a seed investment into CoutLoot, an end-to-end fashion reselling service. CoutLoot will be utilizing the funds secured through VCats for geographical expansion and launch of new product categories, and will be additionally strengthening its technological framework. Founded by Mahima Kaul, Sahil Khimavat, Vinit Jain and Jasmeet Thind, CoutLoot is a one-stop solution to de-clutter one's closet for cash. While sellers get paid for selling off unused branded and boutique fashion items from their closet, buyers get to avail products from the best brands in a nearly-mint condition at up to 80 percent off. CoutLoot has seen sales of 2,000 items since inception, has an inventory of 6,000 clothes, and see...

Softbank Sold $8 Billion Shares of Alibaba To Repay The Debt

2Jun By AdityaNo Comments

News

Softbank Sold $8 Billion Shares of Alibaba To Repay The Debt

SoftBank Group said on Tuesday it would sell at least $7.9 billion of shares in Alibaba to cut the Japanese company's debt. It said it would remain Alibaba's largest shareholder after the sale. Singapore state funds bought $1 billion of shares in Chinese e-commerce company Alibaba Group Holding Ltd as part of an $8.9 billion sale by Japan's SoftBank Group Corp, Alibaba's biggest shareholder, the company said on Wednesday. Singapore sovereign wealth fund GIC Pte Ltd, and state investor Temasek Holdings each purchased $500 million of Alibaba shares at $74.00 apiece through subsidiaries, Alibaba said, offering details of the SoftBank sale announced on Tuesday. GIC and Temasek confirmed the transactions but declined to provide further comment. Temasek is an existing investor in Alibab...

Uber Raises $3.5 billion From Saudi Investment Fund

2Jun By No Comments

FUNDING

Uber Raises $3.5 billion From Saudi Investment Fund

AFP- Uber announced on Wednesday that it has raised $3.5 billion from the Public Investment Fund of Saudi Arabia to help fuel global expansion plans for the ride-sharing giant. The deal gives Uber a valuation, or implied value, of $62.5 billion, according to the company. The deal will help Uber's global expansion, including in the Middle East and North Africa, which the company sees as one of its fastest-growing regions. The head of the Saudi fund, Yasir Al Rumayyan, will join the Uber board, and will boost Uber's cash holdings to more than $11 billion. "We appreciate the vote of confidence in our business as we continue to expand our global presence," Uber chief executive Travis Kalanick said in a statement. "Our experience in Saudi Arabia is a great example of how ...

1Jun By PriyankaNo Comments

FUNDING

Online Automobile Marketplace Droom Raises 200 Crores Funding

Online automobile marketplace Droom today said it has raised an undisclosed amount from BEENEXT, Digital Garage and other existing investors to expand its presence in the South East Asian countries like Indonesia. However, according to sources, Droom has raised nearly Rs 200 crore in this round of funding. The company will also use the proceeds of the Series B funding to expand its domestic operations and strengthen its technology platform. "The amount raised for the new round of funding is significantly higher than Series A that we raised last year," Droom founder and CEO Sandeep Aggarwal told reporters. He declined to comment on the funding raised and the valuation of the company. Previously, Droom has raised seed funding of USD 1.5 million and USD 4 million in May and October 20...

1Jun By AdityaNo Comments

FUNDING

Delhi Based Startup Tpot Raises Seed Funding

New Delhi-based food-tech startup Tpot has raised undisclosed amount in seed funding from Ashish Gupta, Founder & Trustee of Ashoka University and Co-founder of Evalueserve. Using this fund, Tpot plans to expand its presence by taking its outlet count from 20 to over 50 by the end of the year. Also, the fund will be used in channelising the team expansion and on the ideation of introducing innovative products involving tea. “Our team has built a strong foundation in Delhi/NCR region. Having gained a good traction in Chai-Nashta segment of consumers here, we are confident to establish our brand presence in the other markets too,” said Robin Jha, Co-founder, and CEO of Tpot. The company is currently generating revenue of INR 6 crores and is targeting to reach INR 12 crores by the yea...

BRIDGEi2i Analytics Solutions Firm Raises Series A From Edelweiss Private Equity

1Jun By NitishNo Comments

FUNDING

BRIDGEi2i Analytics Solutions Firm Raises Series A From Edelweiss Private Equity

BRIDGEi2i Analytics Solutions, a Bangalore based analytics solutions company, announced that it has secured Series A growth capital from Edelweiss Private Equity. The amount has not been disclosed. Edelweiss Private Equity is the private equity and venture capital arm of Edelweiss Financial Services, one of India’s leading diversified financial services conglomerate. With this investment, Edelweiss has acquired a minority stake in the company. Pranav Parikh, Head of Edelweiss Private Equity will be joining the Board of Directors of BRIDGEi2i. Prithvijit Roy, Chief Executive Officer, BRIDGEi2i commented on this development, “This investment will fuel our ability to deliver greater value to customers by enabling us to accelerate the development of our machine learning based business appl...