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GM invest $500 Million in Lyft To Create a Network Of On-Demand Self-Driving Cars

4Jan By RishabhNo Comments

FUNDING

GM invest $500 Million in Lyft To Create a Network Of On-Demand Self-Driving Cars

American Multinational corporation, Automaker General Motors or popularly known as GM has decided to invest a sum of $500 million in Lyft Inc. a ride-sharing service provider alliancing with it to create a network of On-demand Self-Driving cars. Lyft is one of the biggest ride-hailing companies which is fastest growing rideshare company in US and is available in more than 190 cities which, along with GM has announced the joint venture on Monday that involved an investment of $500 by GM. The invested $500M in the company is the part of a round of a $1 billion round of fund-raising. (more…)

Ratan Tata invests in pet care portal DogSpot.in

4Jan By Press Trust of IndiaNo Comments

FUNDING

Ratan Tata invests in pet care portal DogSpot.in

New Delhi, Jan 4 (PTI) Top industrialist Ratan Tata has invested in pet care portal DogSpot.in, continuing the slew of investments he has made in various startups globally. However, the value of the investment was not disclosed. "Ratan Tata has invested an undisclosed amount in DogSpot.in. Ronnie Screwala also invested in this round along with a few new and existing investors," DogSpot.in co-founder and CEO Rana Atheya said. The other investors in this round include Ashok Mittal, Rishi Parti, Dheeraj Jain and Abhijeet Pai. "The investment by Mr Tata is an endorsement of the long-held belief by us and our investors that the Indian pet care sector is going through a phase of huge growth and transformation. DogSpot.in is poised to become an agent of this transformation," he said. Prev...

Snapdeal to invest in logistics to speed up delivery

29Dec By AdityaNo Comments

News

Snapdeal to invest in logistics to speed up delivery

Reuters: Online marketplace Snapdeal, backed by Japan's SoftBank Group Corp and others, will spend more on logistics and technology to better compete with Flipkart and Amazon's Indian unit, its co-founder said on Monday. Shopping online is becoming more popular in India due to the rising use of cheaper smartphones and e-commerce firms are struggling to cope with the growing demand and make faster deliveries in different parts of the country. The e-commerce market in India is expected to grow to $220 billion in the value of goods sold by 2025, up from an expected $11 billion this year, Bank of America Merrill Lynch said in a recent report. Flush with $500 million from a funding round in August, led by China's Alibaba, SoftBank and Foxconn, Snapdeal is now looking to expand its serv...

JustRide in Google Launchpad list, to get equity-free seed funding

25Dec By AnkitaNo Comments

News

JustRide in Google Launchpad list, to get equity-free seed funding

Self-drive car rental aggregator JustRide will get up to $50,000 (around Rs 3.3 million) in equity-free seed funding from Google as part of being selected for the internet giant’s startup accelerator programme, Google Launchpad. Google Launchpad is specifically for mobile startups in India, Brazil and Indonesia. The Launchpad accelerator provides a two-week mentorship programme, up to $50,000 in equity-free seed funding and a further $250,000 of assistance including access to Google’s products such as Maps and Adwords and financial assistance for office space. The accelerator programme kicks off on January 18 in Silicon Valley with its first batch of companies. JustRide is currently in the process of raising Series A round of funding which it plans to use to scale services to o...

22Dec By NitishNo Comments

FUNDING

First seed funding from HT Media, NBM – Invests in Planet GoGo

Planet GoGo Pvt. Ltd, which operates news aggregation website Planet Gogo, has raised an undisclosed amount in a seed round from HT Media Ltd through its subsidiary HT Digital Media Holdings Ltd and US-based investment firm North Base Media (NBM). The fund will be used in growing its user base, Damandeep Singh Soni, co-founder of Planet GoGo, said on Friday. The three-month-old company aggregates news and entertainment content from over 60 partner publishing sites including HT Media and displays them on the lock screen of mobile phones. “With the ever-increasing number of smartphone users, GoGo focuses to revolutionize content consumption for mobile users without having them to spend for it. A large part of the population today rely on apps for everyday content needs and GoGo provides...

22Dec By NitishNo Comments

FUNDING

PepperTap Acquires Jiffstore, Also Raises Series B funding

Peppertap, Gurgaon based hyperlocal service startup has taken over Bangalore based hyperlocal grocery delivery startup, Jiffstore for an undisclosed amount. Jiffstore’s team will join PepperTap’s Gurgaon and Bengaluru offices. Peppertap aims to use synergies with Jiffstore to build an excellent customer experience. PepperTap also closed its Series B round of funding; with an additional $4 millon from Innoven Capital, in addition to the $36 million raised recently from SnapDeal, Sequoia India, SAIF Partners, Ru-Net, Beenext & JAFCO Asia. Total fund raise in PepperTap now stands at around $51.2 million. PepperTap earns more than 90% of its revenue from the commissions it earns from shops. The rest comes from the delivery cost. It charges consumers for orders below a minimum deliver...

This startup will fund your wedding, but if you divorce you have to pay them back

12Dec By AnkitaNo Comments

Story

This startup will fund your wedding, but if you divorce you have to pay them back

Do you think your love is forever? Well this startup is willing to put up the funds for your wedding if you think it is. SwanLuv is currently accepting applications from soon-to-be-wed couples who think they've found everlasting love, Geekwire reports. After you've filled out the form, the company will make its own assessment of your bound and give out a loans of up to $10,000 to fund your dream nuptials. The catch? If you get a divorce, you have to pay the loan back - with interest. The couples that do stay together will never have to pay a cent. But in a depressing twist, it's the couples that part that end up funding the blissful couple's wedding day. (This sounds like it has potential for a reality show spin-off.) The Seattle-based company mines online data and uses algorithm so...

Logistics startup BlackBuck raises $25M from Tiger Global

10Dec By PriyankaNo Comments

News

Logistics startup BlackBuck raises $25M from Tiger Global

BlackBuck, a business-to-business logistics startup, has raised $25 million in Series B funding from Tiger Global and other investors. Russian billionaire investor Yuri Milner’s Apoletto fund and existing investors Accel Partners and Flipkart also put money in this round, BlackBuck said in a statement. The startup, owned by Zinka Logistics Solutions Pvt Ltd, would use the funds for expansion, to build products and set up the team. BlackBuck was founded in April this year by IIT Kharagpur alumni Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B. It had received $5 million in funding earlier this year from Accel Partners and Flipkart. BlackBuck has 200 employees and has presence in 40 locations across the country. It plans to expand to 200 locations over the next year. The c...

Dr Lal PathLabs raises $28.6M ahead of IPO

8Dec By AdityaNo Comments

News

Dr Lal PathLabs raises $28.6M ahead of IPO

Dr Lal PathLabs Pvt Ltd, operator of the second-largest medical diagnostics services chain in the country, has raised Rs 191 crore ($28.6 million) by selling shares to anchor investors ahead of its initial public offering. The company allotted 34.80 lakh shares at Rs 550 apiece to anchor investors, it said in a statement on Monday. The anchor investors included investment funds and mutual fund schemes operated by Fidelity, T Rowe Price, JP Morgan, Birla Sun Life Mutual Fund and SBI Magnum Mutual Fund. Mutual fund schemes of DSP Blackrock, ICICI Prudential, Kotak Mahindra and Reliance Capital also invested. The IPO will hit the capital markets on Tuesday and close on Thursday. The company has fixed the price band for the IPO between Rs 540 and Rs 550 per share. The firm had file...

Ola joins global alliance to take on Uber

4Dec By PriyankaNo Comments

News

Ola joins global alliance to take on Uber

India’s largest cab aggregator Ola has joined international peers Didi Kuaidi, Lyft and GrabTaxi to form an alliance against San-Francisco-based Uber. The global alliance enables international travelers to avail cab-hailing services of the four companies through the same app they use in their home country. The partnership would provide ride-sharing coverage for India, China, Southeast Asia and the US, Ola said in a press statement. The arrangement is an extension of an ongoing pact between US-based Lyft and Chinese cab aggregator Didi Kuaidi. Didi Kuaidi had recently participated in a $500 million fund raising round at Ola. Ola, Didi Kuaidi, Lyft and GrabTaxi have collectively raised about $7 billion in external funding. The taxi-hailing business in India is heating up as...

3Dec By AdityaNo Comments

Story

Lenskart Office – A Place of Lens

Lenskart is India's fastest growing eyewear company founded by Peyush Bansal in November 2010. With a unique brick and mortar presence, Lenskart today offers over 10,000 different styles and high quality prescription eyeglasses, sunglasses and contact lens to fit all pocket sizes. Lenskart has grown more than 200% year on year in the last 2 years, to be among the top 3 optical businesses in India today. Lenskart currently has over 100 stores across more than 66 cities in the country with delivery in over 100 cities. (more…)

24Oct By AnkitaNo Comments

FUNDING

Ratan Tata And American Express Join Series A Funding Round Of Digital Currency Start-Up Abra

MOUNTAIN VIEW, CALIFORNIA – Abra, the company changing how people use cash and their smartphones to send and receive money around the world, announced that the Abra app will be available to all registered users in the US and Philippines in the coming weeks, with more countries to follow soon. The company also announced their entry into online, digital cash-based merchant payments. In addition, Abra announced that Ratan Tata, the Chairman Emeritus of Tata Sons, and American Express have made strategic investments in Abra as part of the recently-announced Series A round. These are the first investments in the crypto currency world for both American Express and Ratan Tata. “As people and businesses transact more globally, there’s a need for more convenient and affordable w...