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Data Centre Company Netmagic To Invest Rs. 2,000Cr To Set Up Two Data Centres!

17Apr By RishabhNo Comments

BUSINESS

Data Centre Company Netmagic To Invest Rs. 2,000Cr To Set Up Two Data Centres!

Netmagic plans to invest about Rs 2,000 crore to set up two new facilities, one each in Mumbai and Bengaluru, by April 2018, apart from increasing its headcount to meet growing business. The Mumbai-based company operates eight data centres in the country across Mumbai, Chennai, Delhi-NCR and Bengaluru. "When we launched our last projects in Bengaluru and Mumbai, we thought it would take 5-6 years to fill their capacity but within six months of the launch of Mumbai data centre, we have started to build two new facilities. We are seeing demand beyond our expectation," Netmagic Executive Director and President Sunil Gupta said to the source. He said there is huge demand from the e-commerce sector and the launch of 4G services will fuel demand for videos and high-definition content. ...

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...

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...

Lulu group to Invest Rs 5,000 Crore in India in Next 4 Years

10Apr By Press Trust of IndiaNo Comments

BUSINESS

Lulu group to Invest Rs 5,000 Crore in India in Next 4 Years

United Arab Emirates-based Lulu Group, which runs a retail chain of over 120 hypermarkets in the Middle East, has decided to invest Rs 5,000 crore in India over the next four years, largely for setting up shopping malls. The group, promoted by Indian businessman Yusuff Ali M A, has already zeroed in on constructing mega shopping complexes in Chennai, Hyderabad, Bengaluru and Thiruvananthapuram. "We are planning to invest Rs 5,000 crore in India over the next four years," said Ali, who is also managing director of the group which has operations in over 30 countries. Ali, who hails from Kerala, also said his company has decided to open 12 hypermarkets in Saudi Arabia at an investment of Rs 2,700 crore in the next few years. The Lulu group currently owns 14 hypermarkets in Saudi Arabia. ...

Facebook Co-Founder Eduardo Saverin invested in Mumbai Based Startup

29Feb By RishabhNo Comments

FUNDING

Facebook Co-Founder Eduardo Saverin invested in Mumbai Based Startup

Eduardo Saverin, co-founder of Facebook has invested $13 million (around Rs. 90 crore) in Hopscotch, a Mumbai-based online retailer in a Series C round. Hopscotch is an E-commerce service, focusing on Kids Fashion Wear. Hopscotch is the same company that secured $11 Million funding last year in a Series B round led by Saverin's Velos Partners. It is the first Indian Company in which Saverin has invested so far. (more…)

130 Start-ups in India to Raise $700 Million in a Year and Create 5,000 Jobs

20Feb By Press Trust of IndiaNo Comments

ANALYSIS

130 Start-ups in India to Raise $700 Million in a Year and Create 5,000 Jobs

Start-up companies in India are expected to raise $700 million and create 5,000 jobs in next 12 months, as per India Startup Outlook Report 2016 by InnoVen Capital. "About 130 companies are expected to raise $700 million in the next 12 months," said the report. InnoVen Capital India has provided over 100 loans to 70 companies across early to mid-growth stage that include Snapdeal, Freecharge, Myntra, Practo, Portea, PepperTap, Byju's, Faasos, Capillary Technologies and Manthan Systems. As per the report, an industry-wise analysis revealed that irrespective of funding stage, consumer internet and e-commerce are the most popular segments and from a hiring perspective, 97% start-ups felt they were likely to hire new employees where on an average 28% would be on the technology front. ...

18Feb By Press Trust of IndiaNo Comments

INDIA

‘Make in India Week’ gets Rs 15.2 lakh crore investment commitments

MUMBAI: The week-long Make in India event here has secured investment commitments worth Rs 15.2 lakh crore, with host state Maharashtra alone accounting for Rs 8 lakh crore. Besides, it received investment enquiries worth Rs 1.5 lakh crore. "The multi-sectoral Make in India Week has been a great success. We've managed to get investment commitments to the tune of over Rs 15.2 lakh crore from the event," DIPP Secretary Amitabh Kant told reporters at the closing press meet at the MMRDA Grounds here today. He is hopeful that the summit will create a favourable environment for investors from across the world. Out of the total investment commitments, the host state made up for more than half, at Rs 8 lakh crore, Kant said, adding that Maharashtra could become the gateway for the rest of ...

IT services firm Cambridge Tech Invests Rs 8 cr in US Based Photo Sharing Platform PhotoKarma

30Jan By AdityaNo Comments

FUNDING

IT services firm Cambridge Tech Invests Rs 8 cr in US Based Photo Sharing Platform PhotoKarma

Hyderabad based IT services firm Cambridge Technology has invested Rs 8 crore ($1.3 million) in US-based automated photo-sharing platform PhotoKarma. Idealab, Bessemer and New York Angels are also participated in this investment round. Before this investment Cambridge Tech has also invested in MyCrowd, a crowd-testing platform for website and mobile applications. The investments is aim to create a potential market for CTE's solutions on big data analytics and cloud services. The fund typically participates in the seed stage with a commitment of close to $250,000. "Our focus is on investing in 12 US-based and Indian startups by March 2017 as a means of incubating our clients as well as helping these companies with delivery so that they can focus on marketing and financing challenge...

17Jan By No Comments

INDIA

Softbank CEO says will ‘seriously’ accelerate investments in Indian Startups

Japanese telecom and media group SoftBank will "seriously" accelerate its investments in India, Chief Executive Masayoshi Son told a start-up conference in New Delhi on Saturday. Softbank had previously said it would invest $10 billion in India over 10 years. "The time has come that the Indian economy will be big enough going forward. Mobile internet will make the domestic internet market big enough," Son said. "I think we would seriously accelerate our investments in India going forward." image credit- reuters

China’s Baidu in talks with Indian e-commerce start-ups for funding

13Jan By reutersNo Comments

BUSINESS, News

China’s Baidu in talks with Indian e-commerce start-ups for funding

Baidu Inc, a Chinese web services company, is in talks to invest in Indian e-commerce start-ups including Zomato, BookMyShow and BigBasket, a spokesman for China's top online search provider said on Wednesday. "The Indian market represents an enormous opportunity for us to connect more people with services, and we plan to put more resources there in the future," the spokesman told Reuters by email. Baidu declined to comment on possible investment amounts or time frames. India's technology start-up market is booming as more and more people shop online, in a country where about 20 percent of a population of 1.3 billion are connected to the Internet. The e-commerce market could grow in terms of the value of goods sold to $220 billion by 2025 from $11 billion in 2015, Bank of America Merr...

Quikr lost Rs 9 for every Re 1 earned last fiscal

4Jan By No Comments

ANALYSIS

Quikr lost Rs 9 for every Re 1 earned last fiscal

One of the top two online classifieds sites in the country, Quikr saw its losses more that double last fiscal as it sought to stretch its lead over Naspers' controlled OLX with turbo charged marketing. Quikr, that counts Warburg Pincus, eBay, Kinnevik, Tiger Global, Falcon Edge, Steadview, Matrix Partners, Omidyar and Norwest Venture Partners among its investors, saw its revenue from operations grow 23.7 per cent to touch Rs 24.78 crore. The firm, however, saw total income rise to Rs 52.5 crore, thanks to 'other income'. At the same time its EBITDA (or operating) loss and net loss more than doubled from around Rs 200 crore to Rs 440 crore. This means for every Re 1 worth of income it generated it lost some Rs 9. Indeed, if one factors out its non-operating revenues, it lost Rs 18 for...

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...