India | Pixr8 News

28Mar By NitishNo Comments

INDIA

E-commerce Platform to Support Tribal People Launched in India

Indian government launched an e-commerce portal to support tribes in India. The tribal ministry launched the portal www.tribesindia.com and an android app "Tribes India". The website looks good and shows the handcrafted products in segments like fashion, bags etc. Indian Tribal Affairs Minister Jual Oram also launched the Tribes India banner on India's leading e-commerce portals Snapdeal, Amazon, Paytm for the marketing of tribal products. The project was launched under TRIFED programme with having more than 55000 tribal artists showcasing their products online. TRIBES India organization will start marketing tribal handicrafts product on e-commerce portals namely, Amazon, Flipkart etc. This move will be a game-changing strategy for tribal people in India. The organization ha...

Dubai’s Quick Service Restaurant Chain Will Open 200 Stores in India

27Feb By NitishNo Comments

MIDDLE EAST

Dubai’s Quick Service Restaurant Chain Will Open 200 Stores in India

Doner & Gyros, a Dubai-based quick service restaurant chain will open about 200 stores in India in the next 5 to 7 years. The restaurant chain is currently active in 21 locations including London, the UAE, Saudi Arabia and Lebanon etc. The fast food restaurant will open its first store by August 2018 are looking to invest Rs 200 crore in India. It will compete with the global giants such as Dominos Pizza, McDonalds and KFC. Their products inspired by the street food of Berlin and Chicago. Launched in 2014, Doner & Gyros CEO Nabi Naseeb said,"One store will cost somewhere around Rs 1.5 crore and we plan to open 150 to 200 stores in the next 5-7 years that makes it around Rs 200 crore". He also added, "Our products will be customized as per the Indian market".

Silicon Valley based Bessemer Venture plans to invest upto $50 Million in India in 2018

22Feb By Sabhyata AgarwalNo Comments

FUNDING

Silicon Valley based Bessemer Venture plans to invest upto $50 Million in India in 2018

The Silicon Valley based Bessemer Venture Partners who already invests in some of the companies in India, is planning to invest another $40 to $50 million in the country this year. The company that is best known for its investment in companies such as professional social network LinkedIn and restaurant directory player Yelp, is looking for opportunities in the growing healthcare and financial technology. "We are more selective than spray and pray. Investing pace in India is business as usual. In the last 18 months we have backed five new companies." says Vishal Gupta who manages the firm's operation in India. Silicon Valley has previously invested $700 million in 47 portfolio companies over the last decade in India. The venture capital firm is all prepped up energy with Anant V...

PNB and Gitanjali Gems Shares Tumbled 7 to 10%

20Feb By AdityaNo Comments

Market

PNB and Gitanjali Gems Shares Tumbled 7 to 10%

Shares of Gitanjali Gems & Punjab National Bank (PNB) tumbled over 10% to 7% yesterday, following the Rs 11,400-crore fraud by Nirav Modi. PNB shares were down to 7.16 per cent to its 52-week low of Rs 116.65 on BSE. At NSE, shares of the company dived 6.77 per cent to hit a one-year low of Rs 117.05. In four trading sessions, the stock has lost nearly 28 per cent and suffered an erosion of Rs 10,781.12 crore from its market capitalisation. While the stock of Gitanjali tumbled 9.99 per cent to Rs 33.80, its lower circuit limit on BSE. At NSE, shares of the company plunged 9.87 per cent to hit its lowest trading permissible limit of Rs 33.75. On February 14, Punjab National Bank (PNB) disclosed that it detected some fraudulent transactions with financial implication of about Rs 1...

Micro-Lender Aye Finance Raises $3.8 Mn From Hinduja Leyland And Others

19Feb By Sabhyata AgarwalNo Comments

FUNDING

Micro-Lender Aye Finance Raises $3.8 Mn From Hinduja Leyland And Others

Aye Finance, a Fintech company providing loan to micro, small and medium enterprises has raised $3.8 Mn (INR 25 Cr) from three investors including including Hinduja Leyland Finance and IntelleGrow. The investment took place through a securitisation deal, facilitated by Vivriti Capital. Aye Finance, which was founded by bankers Sanjay Sharma and Vikram Jetley in 2014, have previously secured $6.28 million from IFMR which happened less than a month ago. It also bagged $1.5 Mn (INR 10 Cr) in a similar kind of securitisation deal in July 2017. Speaking of the current funding and two of the investors Hinduja Leyland Finance and IntelleGrow, Sanjay Sharma, Co-Founder and Managing Director of Aye Finance said, “I believe if India has to rise with a social balance, the micro businesses at ...

Virgin Hyperloop One: Pune to Mumbai in just 25 Minutes

19Feb By Sabhyata AgarwalNo Comments

INDIA

Virgin Hyperloop One: Pune to Mumbai in just 25 Minutes

The transport of the future is here with the Virgin Hyperloop One announcing on Sunday its plan to build a hyperloop between Pune and Mumbai beginning with an operational demonstration track. The hyperloop is believed to decrease the present travel time of approximately 3 hours to 25 minutes. The hyperloop route is planned to link central Pune, Navi Mumbai International Airport, and Mumbai. The company is aiming to connect 26 million people with the hyperloop and supporting 150 Mn passenger trips per year. Why I believe @Virgin @HyperloopOne could have the same impact upon India in the 21st century as trains did in the 20th century https://t.co/IkYbfIs2yi pic.twitter.com/WEuS6VWbzU — Richard Branson (@richardbranson) February 18, 2018 The American Company declared the fra...

Why Vijay Shekhar Sharma concern may be Valid For Whatsapp Pay Feature

19Feb By Sabhyata AgarwalNo Comments

News

Why Vijay Shekhar Sharma concern may be Valid For Whatsapp Pay Feature

The day since the popular messaging app WhatsApp rolled out its digital payment feature, everybody but the founder and CEO of Paytm is not happy. However, maybe its all for the right reasons. WhatsApp, the Facebook owned application announced its entry in the electronic payment space with the feature that allows peer-to-peer money transfer through the messaging app. The payment service is launched in the beta version of WhatsApp for selected users on trial basis. The feature of the messaging platform, that is a fruit to its 200 million users in India with no Login ID and Password, is facing wrath of Vijay Shekhar Sharma, the founder and CEO of the most used digital payment application all over India, Paytm. The founder of Paytm is angry with Facebook and taking a jibe on the forme...

16Feb By Sabhyata AgarwalNo Comments

FUNDING

Expense Management Platform Happay Raises Funding From Sequoia And Others

The expense management software for enterprises, Happay has raised Rs 1.60 crore ($250,000) in a fresh round of funding, a report by TechCircle confirms. The IT services company raised a total of $10 million (Rs 65.13 crore) in the round led by existing investor Sequoia Capital. Happay which was found in 2012 in Bangalore, Karnataka raised the same amount at its previous Series B funding in December. The company had raised that round at a post-money valuation of $53-55 million. The funding round observed the involvement of Sequoia Capital, Singapore-based private equity fund Axiom Capital and AME Cloud Ventures, the venture led by Yahoo co-founder Jerry Yang and other investors etc. Previously in 2015, Happay had raised $7.2 million from Sequoia Capital and Prime Venture Partners ...

When Mukesh Ambani & Andhra CM Did Facebook Live

14Feb By Sabhyata AgarwalNo Comments

INDIA

When Mukesh Ambani & Andhra CM Did Facebook Live

Mukesh Ambani, the Chairman and Managing Director of Reliance Industries, met with Amaravati Chief Minister N. Chandrababu Naidu on Tuesday at the state. For the first time, any of such discussion was done live on Facebook, which was viewed by over 3 lakh people thus maintaining transparency. They discussed on matters of e-governance, investment opportunities and business. Andhra CM opened the discussion with him, explaining about what they do and his team has achieved since years. He explained that how everything is done electronically in Andhra Pradesh and said he desires to do every process at one platform which makes the work easy and hassle-free. His system seemed so impressive to the RIL chairman, that he asked the CM jokingly to "expose this system to the whole of India." which ...

Competition Commission of India Imposes Rs 136 Crore Fine on Search Giant Google

9Feb By RishabhNo Comments

News

Competition Commission of India Imposes Rs 136 Crore Fine on Search Giant Google

Competition Commission, the statutory body of India, has imposed a fine of Rs 136 crore (around $ 21.1 million) after finding it guilty of abusing its dominant position in India. The amount of penalty charges is equivalent to about 5 percent of Google's revenue from India. What is the case all about? The case was filed back in 2012 by Matrimony.com, former Bharat Matrimony (Case No. 7), and Consumer Unity & Trust Society (Case No. 30), when they complained the watchdog CCI about Google's about Google's anti-competitive behavior. Alphabet Inc's search giant provides online search services and advertisement space- AdWords and AdSense. The complaints submitted to the CCI focused on Google's biased search results, in which it was favoring Google's own services and partners, ...

Are The Days of Bitcoin Over? Becomes One-Third In Less Than 2 Months

6Feb By RishabhNo Comments

ANALYSIS

Are The Days of Bitcoin Over? Becomes One-Third In Less Than 2 Months

Bitcoin has been tumbling since the past few, and it's been over 1.5 months that it last it's all time high. Bitcoin hit an all time high $19,343 in December 16, 2017 after which it fell and topped at $17,135 on January 6, 2018. Ever since then its has been falling and hit $6,083 by IST 10:36 am February 6, 2018. Investor firms think that it is the time that Bitcoin will have to settle after being too dynamic with its price. The downfall is amidst the raising worries about regulation on the ungoverned cryptocurrency. Even on Friday, Citigroup, JP Morgan Chase and Bank of America said that they will ban cryptocurrency purchase by their credit card customers. In India, at the time of Union Budget 2018 pre-poll the Finance Minister of India, Arun Jaitley said,"Cryptocurren...

Electric Vehicles and its Impacts on Future

5Feb By RishabhNo Comments

Automobile

Electric Vehicles and its Impacts on Future

"We will not stop until every car on the road is electric"- Elon Musk The above line by founder of Tesla (world's first electric automobile company) is somewhat going to be true in upcoming decades. Electric vehicles are taking over the traditional diesel and petrol engines, due to the growing concerns on fossil fuel consumption and pollution; electro-mobility is now bound to happen in the following decade. Going back into the history, a similar transition happened when horses were replaced by high-horsepower internal combustion engines that gave birth to the automobile sector, which is now a prominent figure in GDP of most countries in the world. “HUMAN inventiveness…has still not found a mechanical process to replace horses as the propulsion for vehicles,” lamented Le Petit Journal...