Wednesday, May 8

Tag: India

Problem & Solution of India’s Next Unicorn
23Apr By No Comments
BLOGS

Problem & Solution of India’s Next Unicorn

Recent Global News Highlights Report: TutorGroup, a Shanghai-based online language learning provider, raised nearly $200M in Series C round, led by Singaporean sovereign fund, GIC and Goldman Sachs bringing its valuation to over $1B Varsity Tutors, an online platform connecting students with tutors for in-person and online sessions, raised $50M in Series B round led by Technology Crossover Ventures. Instructure, a cloud-based learning management system provider, went public on 13 Dec, 2015. Apple acquired Education Startup LearnSprout   Is EdTech today an increasingly attractive business for venture funding? According to Tracxn global EdTech report (Mar 2016), over $9.9B has been invested in the sector in the last 10 years with more than one third of the amount invested ...
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Expanding India’s Connectivity to the World, Reliance Jio Stretched 8,100 km Cable System in Bay of Bengal
18Apr By AdityaNo Comments
BUSINESS

Expanding India’s Connectivity to the World, Reliance Jio Stretched 8,100 km Cable System in Bay of Bengal

Mumbai, 18 April 2016: Reliance Jio announces the launch of a new, state of the art 8,100 km cable system, the Bay of Bengal Gateway (BBG). BBG provides direct connectivity to South East Asia and the Middle East, then onward to Europe, Africa and Far East Asia through seamless interconnection with existing cable systems. Reliance Jio owns and operates the strategically important undersea cable landing facility in Chennai, providing a high-speed, high-capacity, low latency route connecting India to the rest of the world.“ “We are excited about the launch of BBG as it offers not just direct connectivity in and out of India through Chennai and Mumbai but also acts as a state-of-the-art 100 Gbps extension of Jio’s 100 Gbps core network,” said Mathew Oommen, President Reliance Jio. “This globa...
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Indian Minister Nirmala Sitharaman Will Visit The Co-working Place in Delhi Today
16Apr By AdityaNo Comments
News

Indian Minister Nirmala Sitharaman Will Visit The Co-working Place in Delhi Today

To take stock of Start-up India action plan, Commerce and Industry Minister Nirmala Sitharaman today have an open chat with budding entrepreneurs at a centre that provides basic facilities to new-age ventures. "Rather than budding entrepreneurs coming to the ministry to raise their grievances and share feedback on the action plan, the minister has decided to visit the co-working office of young entrepreneurs and have an open chat with them about their expectations and experience," an official said. The exercise is aimed at giving a thrust to budding entrepreneurs, he said. As many as 50 start-up companies and over 70 budding entrepreneurs are expected to participate in the interaction with the Minister. Prominent ones include Velmenni Lifi, Fitternity, Glance, DeliveryTrack, ...
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Micromax May Invest Rs 2,000 cr in Next 5-yr
15Apr By NitishNo Comments
BUSINESS

Micromax May Invest Rs 2,000 cr in Next 5-yr

Micromax, country's second-largest handset maker is likely to invest around Rs 2,000 crore in the next five years in manufacturing and new product lines, its co-founder Rajesh Agarwal said today. He said the company is expected to clock Rs 15,000 crore revenues during the current fiscal. It recorded Rs 12,000 crore revenues last year. "We are planning to manufacture accessories such as batteries, chargers here in the country. The backward integration will happen in a period of next five to six years. I think over next five to six years we will be investing Rs 2,000 crore on complete manufacturing activities," Agarwal told reporters here. The new manufacturing facility of Micromax was today inaugurated here by Telangana IT Minister K T Rama Rao in presence of state Transport Minister...
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13Apr By AnkitaNo Comments
BUSINESS

Standard Chartered Will Invest $1.6 million in India For Eyecare Projects

Standard Chartered today said it will commit USD 1.6 million in India to five eyecare projects to bring in innovation and strengthen the delivery mechanism for the needy in 2016-19 under its Seeing is Believing programme. "Standard Chartered Bank today announced the launch of five new eyecare projects to bring in innovation and strengthen the delivery of eyecare to the needy between 2016 and 2019, with a donation commitment totaling USD 1.6 million," it said in a release. These projects will be delivered through a partnership forged among the bank, International Agency for the Prevention of Blindness (IAPB) and leading eyecare NGOs across 15 states, thereby pooling in resources and expertise. "Eyecare is a critical component of healthcare. By building eyecare capacity in the country...
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Video Platform 90 Seconds Raises $7.5 mn Funding From Sequoia
12Apr By AnkitaNo Comments
FUNDING

Video Platform 90 Seconds Raises $7.5 mn Funding From Sequoia

Cloud video production platform 90 Seconds today announced it has raised USD 7.5 million in Series A financing led by Sequoia India. The round was supported by SKY TV NZ, Airtree Ventures, Beenext and Fotolia.com (sold to Adobe for USD 860 million) and the founder of the platform Oleg Tscheltzoff, will accelerate 90 Seconds global expansion as the market leader in cloud video production, Sequoia said in a statement here. 90 Seconds reduces the complexity of video production, giving brands and agencies access to a marketplace of creatives, and an automated, end-to-end suite of workflow tools. "We are excited to work with new and existing investors who understand the opportunity 90 Seconds has to completely change the global video production landscape," Founder and CEO of 90 Seconds...
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PureCircle to Invest $200 mn in India
12Apr By Press Trust of IndiaNo Comments
BUSINESS

PureCircle to Invest $200 mn in India

Malaysia-based natural sweetener firm PureCircle will invest USD 200 million (about Rs 1,330 crore) over 5 years in India as it forays into the country. PureCircle, which sells zero-calorie natural sweetener, stevia across the world, received FSSAI nod in December 2015. "We will invest USD 200 million over the next five years in India in supply/value chain, increasing cultivation, getting insights and so on. We are already in talks with multinational food and beverage companies," PureCircle Senior Director South Asia Region Ajay Chandran told PTI. Chandran said the companys clients in markets outside India includes Nestle, Pepsi, Coca Cola and Danone. The company plans to partner with Indian farmers for 5,000 hectares Stevia cultivation in India. Stevia is called Meeth...
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16-yr-Old NRI Student Invents Low-Cost Hearing Aid
12Apr By NitishNo Comments
Story

16-yr-Old NRI Student Invents Low-Cost Hearing Aid

A 16-year-old Indian-American boy has created a low-cost hearing aid costing USD 60 to help those who cannot afford expensive devices. Technology that could help hearing-impaired individuals have come along with over the years with items such as phones for hearing impaired and other items. Mukund Venkatakrishnan of Kentuckys Louisville city worked on the device for two years and presented it at the Jefferson County Public Schools Idea Fest and recently won first place the Kentucky State Science and Engineering Fair. The device, which can be used with even the cheapest set of headphones, is built to first test hearing by playing several different sounds at seven different frequencies through headphones. It then programs itself to be a hearing aid, amplifying volume based on the test r...
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BSNL Testing Wi-Fi Technology to Connect 1 Lakh Panchayats in a Year
11Apr By Press Trust of IndiaNo Comments
INDIA

BSNL Testing Wi-Fi Technology to Connect 1 Lakh Panchayats in a Year

As the government's rural broadband project is facing long delays, telecom PSU BSNL is testing an alternative Wi-Fi-based network to connect about 1 lakh village panchayats in a year with high-speed Internet. "The process of laying fibre network calls for huge amount of physical labour. We have started a pilot to test broadband connectivity to village panchayats using Wi-Fi network. With this we are hopeful of connecting about 1 lakh village panchayats in a year," BSNL Chairman and Managing Director Anupam Shrivastava told PTI. The state-run firm is testing sustainability of technology in three villages in Alwar district of Rajasthan. "We have written to the Department of Telecom about this project and looking for support of USO fund for it. Once we get the approval, we will start...
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Cost of New Mobile Connection Could be Zero Using Aadhaar eKYC
10Apr By AdityaNo Comments
News

Cost of New Mobile Connection Could be Zero Using Aadhaar eKYC

Trai Chairman R S Sharma Friday said cost of activation of a new mobile connection can virtually come down to zero if electronic KYC of Aadhaar is implemented as authentication will be done digitally. He said transaction costs are reduced substantially when Aadhaar is used as an authentication tool. "If you are taking a mobile connection, currently the cost of activation of a mobile customer is Rs 150 because you have to fill a customer acquisition form (CAF), you have to give paper documents... if you use digital identity authentication, you can fill the customer form, digitally sign it and get your electronic KYC. So, essentially the cost is equal to zero," Sharma said at the annual growth Net summit in New Delhi. Sharma has made recommendations to the Department of Tele...
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Defence Ministry of India To Promote Startups: Manohar Parrikar
9Apr By Press Trust of IndiaNo Comments
INDIA

Defence Ministry of India To Promote Startups: Manohar Parrikar

Defence Minister Manohar Parrikar on Friday said his ministry was in the process of formulating a special programme to promote startups. "The defence ministry will start a programme to promote startups. The ministry has never done something like this before but is going out of the way into (doing) something different," Parrikar said at the inauguration of a business incubation centre here. Parrikar, a former Goa chief minister, said he was keen on offering defence ministry-related research and development projects to the coastal state. "There is an open offer to the Goa government... in another month or two, we can work out a mechanism to ensure that the talent among the Goans doesn't go waste," the minister said. Lamenting the brain drain from Goa, Parrikar said: "All ...
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