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Aasaanjobs Raises $5 Million From Aspada Advisors, IDG Ventures

15Feb By Press Trust of IndiaNo Comments

FUNDING

Aasaanjobs Raises $5 Million From Aspada Advisors, IDG Ventures

Online recruitment marketplace Aasaanjobs Monday said it has raised $5 million (roughly Rs. 34 crores) in series A round of funding led by Aspada Advisors with participation from existing investors. The fresh inflow of capital will help the company realise its mission of taking its HR services on the cloud, a company release said adding this technological edge will pave way for Aasaanjobs' expansion into newer geographies. Founded in November 2014, Aasaanjobs is based out of Mumbai. Aasaanjobs' tech solutions speed up the process of recruitment by connecting perfectly-matched candidates to recruiters. This makes the entire process quick, effective and convenient for both job seekers and recruiters. This was a follow-up from the seed round where the platform raised a funding of $1....

13Feb By No Comments

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A Meeting With Mr. Ratan Tata

My favorite story about Ratan Tata has to be the one where the Tatas bought Jaguar from Ford in 2008, and how as a Tata company, it became profitable once more. I think what converted it from a loss-making to profitable company was not just the TATA presence, but Mr. Ratan Tata’s ability to address its fundamental issue – he asked Jaguar what the problem was, found that they knew what needed to be fixed, and allowed them to fix it. An approach that has been the benchmark of the 90+ companies that make the TATA conglomerate. In the last week of December ‘15, Rohan, the Teabox Head of Inbound Marketing, and I found ourselves in Mumbai with an appointment to meet Mr. Ratan Tata himself. Needless to say, I was nervous. He’s a man I admire, as an industry leader and as a person, and it’s not e...

5Feb By NitishNo Comments

FUNDING

Bangalore Based Bhive Workspace Raised Angel Funding

Bengaluru-based Coworking Space BHIVE WORKSPACE has raised an undisclosed angel round of funding from investors including Raghunandan of TaxiForSure, Arihant Patni of Hive Technologies, Rajesh Rai (Venture Capitalist & Co-Founder, Venturesity), Arun Narayan from UK India Business Council, Sanjay Mirchandani (Owner, Mirchandani Group) and others. BHIVE started out as a provider of accessible and quality plug ‘n’ play workspace in Bangalore, a year ago. Co-working spaces are essential to developing a growing and vibrant entrepreneurial ecosystem in India. Finding the right workspace, maintenance of office space, bill payments and operations, housekeeping and security, procuring food and beverages etc. are a few such distractions. Setting up the perfect backdrop to fix this issue or ...

We Started Procmart On Excel Sheet, Made The Website and Received Funding From Dinesh Agarwal (Indiamart)

5Feb By Sonia MotwaniNo Comments

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We Started Procmart On Excel Sheet, Made The Website and Received Funding From Dinesh Agarwal (Indiamart)

ProcMart which (made from PROCurement Market) was envisioned on the foundation of making B2B transactions or procurement smoother, reliable, and most importantly faster. It was started by Anish Popli, Pratik Potnis and Saheel Joshi in Pune to solve the problem of procurement and sourcing. Their team is a group of diverse people who have come together to address this issue of procurement and sourcing. Anish is an NIT Trichy graduate, and an IIM Lucknow alumnus. He worked for a couple of years in BHEL and Energo Engineering before starting up. Pratik on the other hand, is a computer science graduate and a serial entrepreneur. “I was with Cisco before starting my own venture Quexa systems. The venture was sold to a US-based company before beginning on ProcMart,” says Potnis. Saheel was a...

China & India vs USA: Alibaba Came in Rescue For Flipkart, Ready to Invest

4Feb By AnkitaNo Comments

FUNDING

China & India vs USA: Alibaba Came in Rescue For Flipkart, Ready to Invest

New Delhi: A surprise move by China’s Alibaba Group to came into the support of India's Biggest Ecom company Flipkart. As per the news report Alibaba is looking to invest in Flipkart. It has already backed Paytm and Snapdeal. Alibaba this move is to help Indian E-commerce company and eliminate US-backed Ecom companies like Amazon. There are not too many takers for India’s top e-commerce firms at their current valuations, prompting both Flipkart and Snapdeal (run by Jasper Infotech Pvt. Ltd) to approach Alibaba Group for cash, the three people said to Mint. While both have enough cash to fund their current burn rates for 12-15 months, they need to raise money this year in order to refill their fast-emptying vaults, the people added. Flipkart and Snapdeal, in particular, are facing scrut...

3Feb By No Comments

FUNDING

Magic Leap Announces $793.5 Million Fresh Funding Led By Alibaba Group

Dania Beach, Florida - Magic Leap, Inc. ("Magic Leap") announced $793.5 million in new funding today, led by Alibaba Group. Continued investment comes from Google Inc., Qualcomm Incorporated, through its venture investment group, Qualcomm Ventures, and others. New investment also comes from Warner Bros. and tier-one financial institutions, including Fidelity Management and Research Company, J.P. Morgan Investment Management, Morgan Stanley Investment Management, funds and accounts advised by T. Rowe Price Associates, Inc., and Wellington Management Company. “Here at Magic Leap we are creating a new world where digital and physical realities seamlessly blend together to enable amazing new experiences. This investment will accelerate bringing our new Mixed Reality Lightfield™ experience to ...

2Feb By AnkitaNo Comments

FUNDING

Sequoia raised Largest VC Fund Approx $920 Million to Invest in Indian Startups

Sequoia Capital, Silicon Valley's top-tier VC fund closed fresh $920 million fund. Funds will largely invests in Indian startups. The fresh funds takes Sequoia's total investment assets to more than $3 billion in India. This is the biggest raise by any VC fund for India-specific investments, cementing Sequoia's leadership position in the domestic early-to-growth stage investing space. TOI had reported on September 8 last year about Sequoia Capital, a backer of companies like Just Dial, Freecharge, Zomato, Oyo Rooms, among others, being on the road to raise its fifth India fund. At the time, Sequoia was looking to shore up $800 million. Sequoia, which had backed tech giants like Google and Apple in their very early stages, will see the new fund invest in Indian and south-east Asian...

Info Edge Invested $1.1Million in Mobile Tracker Startup Rare Media

29Jan By No Comments

FUNDING

Info Edge Invested $1.1Million in Mobile Tracker Startup Rare Media

Info Edge Ltd has invested about $1.1 million (Rs 7.4 crore) in mobility-and cloud-based software developer Rare Media Company Pvt Ltd. The investment is expected to support Info Edge’s online realty business 99acres, which already uses Rare Media’s services for its sales staff. Founded in 2012 by Siddhartha Gupta, Delhi-based Rare Media’s field force tracking service, known as Blue Dolphin, is used for employee location tracking and timekeeping on 3G devices. “Rare Media has products in the area of B2B sales force management. We have invested in this company because there is a certain sort of dependency that 99acres has on them,” Bikhchandani said. 99acres uses Rare Media’s mobile-based products for data verification of its sales force. “The Rare Media investment is not a regu...

29Jan By No Comments

FUNDING

Truebil has raised 35 Crores Funding Led By Kalaari Capital and Others

BENGALURU: Truebil, an online market for buying and selling second-hand cars, has raised Rs 35 crore Series-A funding from venture capital investors Kalaari Capital, Inventus Capital and San Francisco-based Tekton Ventures. The rounds also participation from existing investor, Kae Capital. The Mumbai-based startup, whose founders include former Housing employees, is focused on peer-to-peer sales of cars unlike large classified players like CarDekho and CarTrade. "The difference between classifieds players and us is that we handhold a customer throughout the experience, helping close the transaction," said co-founder and CEO Suraj Kalwani. "One thing that we are convinced about is horizontal classifieds will start getting unbundled and specialised. Used-car sales is a large market...

Foxconn Invests in Home Automation Firm WiZN Systems

29Jan By AnkitaNo Comments

FUNDING

Foxconn Invests in Home Automation Firm WiZN Systems

Bangalore-based home automation startup WiZN Systems has raised an undisclosed amount in an angel round of funding led by Taiwan’s Foxconn Technology Group, according to a report in The Economic Times. Kanwaljit Singh, cofounder of FireSide Ventures, and a few other angel investors too participated in the funding round. As part of the investment deal, Foxconn, the maker of Apple iPhone, will manufacture the initial set of hardware devices for WiZN. Moreover, Rahul Chowdhri, former partner at venture fund Helion Ventures, will join the startup’s board as a non-executive director. Founded in 2014 by the former Texas Instruments employee, WiZN Systems’ technology helps connect everyday things to the internet and makes them wise. eGlu, a family of products powered by the company’s tec...

Mumbai Based Startup Truce Raises $370,000 From Inmobi and Snapdeal Founders

28Jan By No Comments

FUNDING

Mumbai Based Startup Truce Raises $370,000 From Inmobi and Snapdeal Founders

Mumbai based Startup Truce, which runs a fresh farm vegetables and fruits supply chain venture has raised 2.5 Crores ($370,000) angel funding from the founders of Inmobi and Snapdeal. Truce co-founder Saurabh Jain confirmed that the firm has raised funding but did not talk on about the details. The founders who invested are Kunal Bahl and Rohit Bansal (Snapdeal, co-founders), Anupam Mittal (Shaadi.com, founder), Amit Gupta (InMobi, co-founder), Utsav Somani and Neeraj Goenka of Mumbai Angels besides Farooq Adam Mukadam of Shopsense Retail Technologies were among the group of investors. Truce was launched last year by Kedar Gokhale and Jain. Gokhale, an alumnus of IIT Bombay. Truce procures fruits and vegetables from farmers across Maharashtra and sells them to mid-large sized restau...

Ratan Tata Invests in Teabox, An Online Start-up That Sells Premium Teas

27Jan By No Comments

FUNDING

Ratan Tata Invests in Teabox, An Online Start-up That Sells Premium Teas

Singapore: Ratan Tata, who stepped down as the chairman of the $100 billion Tata Group in 2012, is taking a stake in an online start-up that sells premium teas, the latest example of the Indian businessman becoming an active venture capitalist in his retirement. Tata is putting an undisclosed amount of money into Teabox, an Indian start-up based in the foothills of the Himalayas. It’s the latest of about 25 personal investments that he has made in start-ups, helping spark an e-commerce boom in India along the way. His investments include stakes in three of India’s unicorns, or start-ups worth more than $1 billion, the ride-hailing app Ola, online retailer Snapdeal and a mobile payment venture called Paytm. He has also put money into Chinese smartphone maker Xiaomi Corp., the most hig...