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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...

23Dec By Press Trust of IndiaNo Comments

News

Harbhajan Singh to invest in Sri Lanka

Harbhajan met Finance Minister Ravi Karunanayake in his office and discussed investment opportunities in Sri Lanka. The star Indian spinner Harbhajan Singh is to invest in Sri Lanka, the Ministry of Finance announced on Wednesday. Harbhajan met Finance Minister Ravi Karunanayake in his office and discussed investment opportunities in Sri Lanka. The Ministry quoted Harbhajan as saying he was looking forward to invest in Sri Lanka given the long standing friendly relations between the two countries. Karunanayake had stressed that his 2016 budget approved in parliament early this week encourages foreign direct investment and Harbhajan's expression of interest was a justification of the budget policy goals on investment.

Logistics startup BlackBuck raises $25M from Tiger Global

10Dec By PriyankaNo Comments

News

Logistics startup BlackBuck raises $25M from Tiger Global

BlackBuck, a business-to-business logistics startup, has raised $25 million in Series B funding from Tiger Global and other investors. Russian billionaire investor Yuri Milner’s Apoletto fund and existing investors Accel Partners and Flipkart also put money in this round, BlackBuck said in a statement. The startup, owned by Zinka Logistics Solutions Pvt Ltd, would use the funds for expansion, to build products and set up the team. BlackBuck was founded in April this year by IIT Kharagpur alumni Rajesh Yabaji, Chanakya Hridaya and Ramasubramaniam B. It had received $5 million in funding earlier this year from Accel Partners and Flipkart. BlackBuck has 200 employees and has presence in 40 locations across the country. It plans to expand to 200 locations over the next year. The c...

3Dec By AdityaNo Comments

Story

Lenskart Office – A Place of Lens

Lenskart is India's fastest growing eyewear company founded by Peyush Bansal in November 2010. With a unique brick and mortar presence, Lenskart today offers over 10,000 different styles and high quality prescription eyeglasses, sunglasses and contact lens to fit all pocket sizes. Lenskart has grown more than 200% year on year in the last 2 years, to be among the top 3 optical businesses in India today. Lenskart currently has over 100 stores across more than 66 cities in the country with delivery in over 100 cities. (more…)