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OYO Acquires Chennai based Startup in all Cash Deal

19Mar By Sheldan RungasamyNo Comments

ACQUISITION

OYO Acquires Chennai based Startup in all Cash Deal

OYO, the network of budget hotels recently made the acquisition of Chennai-based service apartment operator Novascotia Boutique Homes, which moreover marks the company’s first major takeover and proves its dominance in the market they operate. The deal’s negotiations begun in last October and materialized last month. Despite OYO company executives’ opting to keep the financial details of the deal confidential, the company backed by SoftBank Group is rumored to have struck the Novascotia acquisition at around $1 million. This deal is a significant landmark for the Gurgaon-based company as it marks its first all-cash deal for a brick-and-mortar company. Previously, OYO began negotiations to acquire smaller competitor Zo Rooms, but wrote off the deal in October 2017 after finding out th...

Gurgaon Based RenewBuy Bags $9.2 Mn From Amicus Capital

16Oct By AnkitaNo Comments

FUNDING

Gurgaon Based RenewBuy Bags $9.2 Mn From Amicus Capital

D2C Consulting Services Pvt. Ltd, which operates online insurance aggregator RenewBuy, has raised an equity fundraising of $9.2 million from Amicus Capital, a mid-market growth capital fund. The capital will be used for expansion of the company to newer geographic locations and addition of new segments like healthcare, accident and term life. Started in 2014, in Gurgaon by former MetLife senior executives, RenewBuy provides real-time quotes from various motor insurance plans. “Given the size of the market, we see huge scope for continued growth and it was important to partner with a strong institutional partner like Amicus Capital who understands our category space and shares the same vision on how to grow the business, said Balachander Sekhar, co-founder, and CEO of RenewBuy.co...

11Oct By PriyankaNo Comments

FUNDING

Artificial Intelligence Startup ParallelDots Raises $1.4 Mn Funding

Artificial Intelligence and deep learning startup ParallelDots has recently raised $1.4 million (around Rs 9.1 crore) in a fresh round of funding from its existing investor Multipoint Capital LLC. Delaware, US and Gurgaon, India based AI startup was founded in January, 2014 by Angam Parashar along with Ankit Narayan Singh and Muktabh Mayank and incubated at TLabs, a startup incubator managed by Times Internet. The newly infused capital will be use by the startup to increase the headcount of its technology team, as well as to support its expanding global footprint. The money will also be spent on general operational expenses. ALSO READ Google Uncovered Russia-Backed Ads on YouTube, Gmail : Source ParallelDots earlier raised a funding of $600K from Multipoint...

99HomeMade.com- A Startup Giving You a Bite of Homemade Food

6Feb By NitishNo Comments

Story

99HomeMade.com- A Startup Giving You a Bite of Homemade Food

As you bunker down in your house, probably listening to light music or binge watching and suddenly realize your stomach growls for food! Fortunately, if you are in Gurgaon, you can cater to your stomach by serving it the TRULY Homemade food and that too without creating a big hole in your pocket! With 99HomeMade.com, now customers can get a totally customizable meal at tremendous low costs of just Rs. 99/ onwards on their doorsteps. “At 99homemade.com you just need to select your meal from immense varieties, from breakfast to dinner. You can customize your meal or plate select according to your diet and like, in addition you can add chutney and other additives, which are freshly prepared.” Encountering the Brand for the First Time The 99Homemade.com comprises of several, what...

iAugmentor Labs Invests in Gurgaon Based Volunteer4India

26Oct By AnkitaNo Comments

FUNDING

iAugmentor Labs Invests in Gurgaon Based Volunteer4India

Gurgaon, 26th Oct,2016: iAugmentor Labs, a technology-enabled learning platform, has invested in Volunteer4India, an online aggregator for brand sponsored Social causes, NGOs and student/ youth/ employee volunteers. Volunteer4India (V4I) harnesses the energy of new millennial volunteers through a technology (Web/Mobile App) enabled volunteering platform. It connects them to Corporates wishing to execute their cause marketing mandates, Colleges who wish to encourage their students to apply their academic knowledge on real-world challenges, and NGOs requiring operational and execution support for their projects & Government initiatives. Ranjoy Dey, CEO of Volunteer4India commented, "We see iAugmentor's strategic investment into Volunteer4India as a validation of the importance of e...

Gurgaon Based RupeePower Eyes Rs 15 Cr Revenue in FY17

11Sep By NitishNo Comments

BUSINESS

Gurgaon Based RupeePower Eyes Rs 15 Cr Revenue in FY17

Financial products platform RupeePower expects to grow about 70 per cent this year, clocking Rs 15 crore in revenue as it expands its product portfolio and facilitates disbursal of Rs 10,000 crore in loans. The Gurgaon-based startup, which had sold a majority stake in the company to eCommerce major Snapdeal in April 2015, has bought back control in August this year. Snapdeal is now a minority shareholder in the company. "We want to become a platform to guide users in making the right investment choices. They (currently) get access to a number of products like loans and credit cards through our platform and using analytics based on their spending patterns, social media profile, we want users to be able to access the right financial products," RupeePower founder Tejasvi Mohanram said. H...

Microsoft Opens Cyber Security Center in Gurgaon

8Jun By NitishNo Comments

News

Microsoft Opens Cyber Security Center in Gurgaon

Technology giant Microsoft has unveiled its Cyber Security Engagement Center (CSEC) in Gurgaon in a bid to drive public-private partnerships to fight cybercrime and strengthen cooperation with Indian businesses, government and academic organisations on cyber security. "India stands at an exciting threshold today as data becomes a key driver of growth across every sector and industry and cloud-based computing become more prevalent. Cyber security is crucial for Digital India. A data driven economy can flourish only when governments, businesses and individuals have access to hyper scale and hyper flexible cloud computing with the confidence that their data is secure," said Bhaskar Pramanik, Chairman, Microsoft India. Microsoft's CSEC will work with the National Cybersecurity Coordinato...

20Apr By Press Trust of IndiaNo Comments

FUNDING

Rapido Raises Funding From Pawan Munjal, Rajan Anandan & Others

Bike taxi operator Rapido has received undisclosed amount of funding from a clutch of investors, including Hero MotoCorp Chairman Pawan Munjal, Google India head Rajan Anandan and early stage investment firms AdvantEdge Partners, Astarc Ventures and Tesellate Ventures among others. "Rapido is a commendable initiative and has the potential to generate significant employment, besides making convenient motorised transport accessible to the masses. With their strong background and passion, I believe that the founders of Rapido are well positioned to deliver on their promise," Munjal, who invested in his personal capacity, said Munjal, who invested in his personal capacity, said. Other investors include People group founder Anupam Mittal, Smile Group Partners; former Flipkart chief business o...

Uber launches Bike Taxi “UberMOTO” in Gurgaon

30Mar By Press Trust of IndiaNo Comments

News

Uber launches Bike Taxi “UberMOTO” in Gurgaon

After Bengaluru, taxi-hailing app Uber today launched a pilot of its bikesharing product "uberMOTO" in Gurgaon. "Uber today announced a pilot of Uber's bikesharing product - uberMOTO in Gurgaon... This follows our agreement with the government of Haryana to introduce technology based ride-sharing services in the state," it said in a statement. The company has set minimum fare at Rs 15, followed by Rs 3 per km and Rs 1 per min of ride-time charges. The minimum fare is Rs 20. It will compete with companies like Baxi. "UberMOTO works towards the vision of reducing congestion by helping fill every empty seat on the bikes on road. It enables riders to push a button and share a motorbike ride within minutes," Uber Delhi General Manager Gagan Bhatia said. It's a great way for people t...

21Mar By AdityaNo Comments

News

Baxi App to Now Work Without Internet

NEW DELHI: Gurgaon-based Baxi will roll out a new feature to help users book rides on the app without using Internet. The bike-taxi hailing app, which offers services in Gurgaon and Faridabad, will make the feature available to its 30,000 users from next week. "All customers that have an Android smartphone without a data connection can now use the new Baxi app. Customers can also use the app even when their Internet connection isn't working," Baxi co-founder and CTO Manu Rana told said. This feature will help the company reach out to a larger number of customers as they will not have to rely on or spend money on data packs. Upon opening the app, the user has to press the BOOK button to get the nearest Baxi. If the app is offline, it uses an SMS to send the user's loc...

Gurgaon Based Baxi To Expand Operations in UP Market

6Mar By Press Trust of IndiaNo Comments

News

Gurgaon Based Baxi To Expand Operations in UP Market

NEW DELHI: Gurgaon-based Baxi will start services in Noida and Ghaziabad in the next few weeks as it expands operations and tap into the booming on-demand motorbike taxi segment. The company, which offers about 3,000 rides a day, is operational in Gurgaon and Faridabad in Haryana. "Before commencing operations in Gurgaon, we met the authorities and after certain changes were brought in, making motorbike taxis legitimate, we started operations there. Similarly, we have had discussions with the authorities for offering services in Noida," Baxi co-founder Ashutosh Johri told PTI. He added the company expects to start services in Noida later this month, followed by Ghaziabad. "There were no rules for two-wheelers under the Motor Vehicles Act, and therefore, we had to get it modi...

81 Crores Cash Transactions From 116,000 Gadgets in 3 Years is Just The Beginning For Reglobe

19Feb By Sonia MotwaniNo Comments

Story

81 Crores Cash Transactions From 116,000 Gadgets in 3 Years is Just The Beginning For Reglobe

It was the year 2013 when Nakul Kumar was looking to sell his laptop but unable to find someone to buy it. That’s when the idea of ReGlobe, a re-commerce website for electronics was born. Nakul joined hands with Mandeep Manocha to startup in Gurgaon. A huge amount of waste is being dumped in an open area on the outskirts of Delhi and electronic waste can be reduced. “We realized that it was not the correct way of getting rid of any kind of waste ‘manually’ and it was certainly not helping the environment to get any better,” says co-founder Mandeep. ReGlobe offers an end to end service wherein the customer can sell old gadgets hassle-free. Privacy, instant cash, free home pickup & an instant price quotes are just some of the things that drive the users towards ReGlobe without havi...