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19Jan By AnkitaNo Comments

CHINA

China May Allow Foreign Company’s and Startups to Launch IPOs

China may allow foreign companies to launch IPOs on its stock exchanges and issue corporate bonds, the government said, after President Xi Jinping promised the world his country was committed to opening its markets. The State Council, China's Cabinet, issued a notice yesterday saying it had granted approval in principle for foreign companies to launch IPOs and issue corporate debt and other financing instruments in order to "support the widening of foreign companies' financing channels". The announcement was the latest in a series of broad liberalisation pledges from China as it braces for the incoming administration of US President-elect Donald Trump. Trump has repeatedly blamed China, and globalisation, for the loss of millions of US jobs, raising fears of a trade war between the w...

18Jan By AdityaNo Comments

FUNDING

CashRich, an Indian Fintech Startup, Raises Seed Funding

CashRich, a Mumbai-based fintech startup, has raised an undisclosed amount in seed funding from three prominent angel investors in the UK. CashRich is a smart mobile investment app for anyone seeking better ways to manage their money. The app is currently in beta phase (pilot-testing) and shall be launched in the coming months. Sougata Basu, Founder of CashRich, said, "We are excited to receive this funding from investors who share our vision to build a technology-driven financial services company that creates user-friendly products. This equity capital infusion is an early validation of our idea and business model." CashRich complies with SEBI regulations and helps in secure investment transactions with multiple fund houses. The company is currently exploring partnership opportuniti...

Chinese Smartphone Maker Oppo Plans $216 million Industrial Park in Greater Noida

27Dec By Press Trust of IndiaNo Comments

News

Chinese Smartphone Maker Oppo Plans $216 million Industrial Park in Greater Noida

Betting big on the booming Indian smartphone market, Chinese smartphone maker Oppo is planning an industrial park in Greater Noida which will house a manufacturing unit. "We already have a production unit in India and the SMT (surface-mount technology) centre is now undergoing the furnishment...it will be finished in February. Also, with regard to the industrial park, we will have the agreement signing press conference at the end of next month," Sky Li, vice president of Oppo and managing director of international mobile business and President of Oppo India. He said the industrial park is spread over 1,000 acres and entails investment of about 1.5 billion RMB (Renminbi) yuan or about USD 216 million. Oppo already has manufacturing operations in Noida. Exuding confidence on the co...

Amazon Invests 2010 Crore into Amazon India, Total Investment 7000 Crore in Past 12 Months

20Dec By AnkitaNo Comments

FUNDING

Amazon Invests 2010 Crore into Amazon India, Total Investment 7000 Crore in Past 12 Months

It seems Jeff Bezos led American e-tailer Amazon launched full fledged e-commerce war against India's leading e-commerce firm Flipkart. According to latest information Amaon has invested Rs 2,010 crore into Amazon.in. The total investments in Amazon Seller Services to Rs 7,000 crore in the past 12 months, according to regulatory filings. The latest investment strategy from Amazon, making the points raised by Flipkart Founder Sachin Bansal and cab aggregator Ola Founder Bhavish Aggarwal, seeking government intervention and asking the country to protect Indian-origin startups to counter capital dumping by foreign rivals. Last week, Amazon rolled out Prime Video and prime service for which it is in discussions with content players and offers its users a host of features like quicker del...

Will Surpass $10 Billion Investment Commitment For India: Masayoshi Son

3Dec By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Will Surpass $10 Billion Investment Commitment For India: Masayoshi Son

Positive on India's prospects, Japan's SoftBank today pledged that it will "surpass" the stated commitment of investing USD 10 billion in the country as it ramps up investments in solar power generation and Internet-led businesses. "We have already invested USD 2 billion in last few years... we will surpass my commitment of investing USD 10 billion," SoftBank Chairman and Chief Executive Masayoshi Son said at the HT Leadership Summit here. He further said SoftBank is investing in areas like solar power generation and "lots of Internet-related companies". "We continue to expand on that," said the high-profile businessman, who made headlines earlier this year when he decided to continue as the head of SoftBank instead of handing over the baton to India-born Nikesh Arora. SoftBank in...

30Nov By Ankita SinghNo Comments

News

Biggest Shake for SAMSUNG In 47 Years..

REUTERS- India has the highest level of collaboration globally between sales and marketing departments to strengthen their relationship to drive business success and achieve revenue growth, showed a research by network tech giant Samsung Electronics Co Ltd, under pressure from shareholders to improve investor returns, said on Tuesday it will consider creating a holding company in what would be the biggest shake-up in its 47-year history. The move and a plan to raise dividends come after U.S. hedge fund, Elliott Management in October called for the South Korean firm to split itself into a holding vehicle and an operating company. However, the world's top maker of smartphones, memory chips and televisions, said it was "absolutely neutral" about whether to proceed and provided little de...

Flipkart eyes groceries; renewed push in furniture

20Nov By reutersNo Comments

News

Flipkart eyes groceries; renewed push in furniture

Led by Bansal's, India's top e-commerce player Flipkart plans to move into the groceries space and make a renewed push in the online furniture business, as it expands its product portfolio and looks to outmaneuver global giant Amazon.com in a burgeoning Indian market. Flipkart Chief Executive Binny Bansal said the home-grown e-commerce player plans to begin experimenting with grocery sales next year and scale up operations over a three year period. "There's definitely room to build a profitable grocery business, but it's hard. That doesn't mean it's not possible, but it's hard," Bansal told Reuters in an interview on Sunday. Amazon has already began to pilot grocery sales in select Indian cities. More and more people in India, a country of over 1.2 billion people, are logging on to t...

Mohandas Pai Warns Indian Businessmen For Not Investing in Indian Startups

20Nov By NitishNo Comments

Entrepreneurs Talk

Mohandas Pai Warns Indian Businessmen For Not Investing in Indian Startups

With China and the US pumping in massive foreign capital into India's digital economy, a top Indian investor and educationist has warned that the country could become a "digital colony" unless Indian businesses start investing in it. "India could become a digital colony," warned Mohandas Pai, chairman of Manipal Global Education, referred to possible consequences of the massive money being pumped into India's digital economy by the US and China. "There is a fight between US and China to dominate digitally. And the Indian capital where they are, buying real estate in California?" he asked. "If you miss this digital revolution, our big companies would be controlled by Chinese capital which is very dangerous," Pai warned. India, which has the world's third largest startup eco system, has ...

Accion Venture Lab Completes First Successful Exit in India

15Nov By PriyankaNo Comments

News

Accion Venture Lab Completes First Successful Exit in India

Accion Venture Lab, the seed-stage investment vehicle of financial inclusion leader Accion, announced today that it has successfully exited an investment for the first time. Venture Lab has sold its stake in Varthana, a company providing specialized loans and support to affordable private schools in India, promoting access to and the quality of education for India's poor and emerging middle class. Venture Lab led the first institutional investment round in Varthana in May 2013. As of August 2016, with Venture Lab's active support, Varthana has supported more than 2,000 schools, 38,000 teachers, and one million students, and has disbursed more than $35 million to schools that serve lower and middle income Indians. "Varthana has reached great heights as an innovative financial services...

Infosys Invested Undisclosed Amount in US-based TidalScale

11Nov By NitishNo Comments

FUNDING

Infosys Invested Undisclosed Amount in US-based TidalScale

Country's second-largest IT firm Infosys today said it has invested an undisclosed amount in US-based TidalScale. The California-headquartered firm's solution collates all physical server resources as if it were running on a single large computer to help clients with large computing problems. TidalScale helps companies draw insights from big data faster, more easily and with greater flexibility at improved costs. "Among our client base, we see a need for inventive and cost-effective approaches to derive business value from big data, and our investment in TidalScale underscores our commitment to our clients to bring innovative new solutions across our platforms and offerings," Infosys Executive Vice-President of Corporate Development and Ventures Ritika Suri said in a statement. ...

Average Size of Startup Funding Up 27% to Rs 4.6 Cr: Report

6Nov By Press Trust of IndiaNo Comments

ANALYSIS

Average Size of Startup Funding Up 27% to Rs 4.6 Cr: Report

The average size of Startup Funding received from angel investors grew 27 per cent to Rs 4.67 crore in 2015, from Rs 1.06 crore in 2009, a report said. Also, the average investments made by these angel investors individually saw an annual growth rate of 34 per cent from Rs 0.21 crore in 2009 to Rs 1.69 crore in 2015, according to the '2016 India Venture Capital and Private Equity Report on Start-Ups' by Indian Institute of Technology, Madras (IIT-Madras). "Start-ups have an important role to play in the modern innovation economy. The national government has recognised this and start-ups have emerged as a focus area for policy making now," IIT Madras Director Bhaskar Ramamurthi said. This report provides an interesting commentary on the trends in start-ups and the start-up ecosyste...

Patanjali Ayurved to Invest Rs 1,300 Crore in Assam

6Nov By Press Trust of IndiaNo Comments

INDIA

Patanjali Ayurved to Invest Rs 1,300 Crore in Assam

Patanjali Ayurved, the FMCG venture promoted by Yoga guru Ramdev, will hire around 5000 people at its upcoming Rs 1,300-crore facility in Assam by the end of this fiscal year. Assam Chief Minister Sarbananda Sonowal today laid the foundation stone of the Patanjali Herbal and Mega Food Park at Balipara in Sonitpur district. "The unit will give direct employment to 5000 people and benefit one lakh farmers. The complete profit from the Food Park will be dedicated for the welfare of Assam by setting up school and skill development centres in each district," Ramdev said at a function. "The unit will give direct employment to 5000 people and benefit one lakh farmers. The complete profit from the Food Park will be dedicated for the welfare of Assam by setting up school and skill developme...