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1mg Acquires Mumbai Based Online Consult Platform MediAngels

15Dec By NitishNo Comments

ACQUISITION

1mg Acquires Mumbai Based Online Consult Platform MediAngels

Indian online pharmacy startup 1mg Technologies Pvt. Ltd has acquired Mumbai-based MediAngels for an undisclosed amount in cash and stocks to enter specialty doctor consultations, corporate health services and insurance partnerships. “Our consumers can now access a deep network of over 450 super specialists across India and the world, and we also get an entry into the corporate health space through this platform,” 1mg’s co-founder Prashant Tandon said in a statement on Wednesday. Founded in 2011 by Arbinder Singhal and Debraj Shome, MediAngels is a platform for patients to seek online consultations for specialized medical cases in cardiology, cancer, neurosurgery, orthopedics and pediatrics, among other areas, from its network of doctors covering 93 specialties. “Within 1mg ecosyste...

Airtel Payments Bank Rolls Out Pilot in Andhra, Telangana

14Dec By PriyankaNo Comments

News

Airtel Payments Bank Rolls Out Pilot in Andhra, Telangana

After Rajasthan, Airtel Payments Bank has now rolled out pilot services in Andhra Pradesh and Telangana. "In Andhra Pradesh and Telangana, Airtel Payments Bank is rolling out pilot services across 8,000 Airtel retail outlets in Andhra Pradesh and 7,000 outlets in Telangana, which also acts as banking points," it said in a statement. This follows the pilot rollout in Rajasthan, where over 1 lakh customers opened savings accounts in less than two weeks of commencement of services, it added. Airtel Payments Bank is the first payments bank in India to go live. Customers opening a savings account with Airtel Payments Bank will get one minute of Airtel mobile talk time for every rupee deposited. For example, if a customer opens an account with a deposit of Rs 500, then he/she will get 5...

None of Mobile Payment Apps in India Fully Secure: Qualcomm

14Dec By PriyankaNo Comments

News

None of Mobile Payment Apps in India Fully Secure: Qualcomm

While government is pushing for digital payments through mobile phones, chipset maker Qualcomm said that wallets and mobile banking applications in India are not using hardware level security which can make online transactions more secure. "You will be surprised because most of the banking or wallet apps around the world don't use hardware security. They actually run completely in Android mode and users password can be stolen. Users use fingerprint which might be captured... in India that is the case for most of all digital wallets and mobile banking apps," Qualcomm Senior Director Product Management SY Choudhury told Pixr8. He said that even most famous digital payment application in India is not using hardware level security. "Reason we are saying that none of them is using it bec...

Vijay Shekhar Sharma Raises Rs 325cr By Selling His 1% stake

10Dec By NitishNo Comments

News

Vijay Shekhar Sharma Raises Rs 325cr By Selling His 1% stake

As per a news report, Vijay Shekhar Sharma India's leading e-wallet and recharge platform, Paytm, has sold 1% of his equity in One97 Communication to raise about Rs 325 crore for Paytm Payment bank. One97 Communications is the company that runs Paytm. The shareholder's name was not disclosed. Vijay had now 20.33% stake in One97 Communication. The transaction values One97 Communications at about $4.7 billion. Earlier Vijay Shekhar Sharma has received in-principle approval from the Reserve Bank of India after the company decided to transfer the e-wallet business to the payments bank entity to start the payments bank but the final approval is awaited. According to RBI rules, Sharma has to hold a 51% stake in the payments bank for which he has created a new entity-Paytm Payments Bank....

8Dec By PriyankaNo Comments

FUNDING

Shared Car Revv Raises $9 Million Funding From Edelweiss Private Equity, Others

World's first self-drive car rental platform Revv has raised USD 9 million in equity and debt from Edelweiss Private Equity and others. The series A equity funding led by Edelweiss Private Equity and debt funding from financing and leasing partners like Mahindra & Mahindra Financial Services and LeasePlan India, it said in a statement. The fresh capital will be used towards expanding into new cities, launching new products, and building proprietary technology to enhance customer experience, it added. The startup already counts the likes of Gautam Kumra (recently elected India MD of McKinsey & Company), Rajat Dhawan (Mentor to McKinsey's automotive practice) and Ananth Narayanan (Myntra CEO) as its angel investors. sms финанс займзайм под залог птс барнаулонлайн займ 24...

You Take Rest, SERVURANCE App Will Clear The Mess

7Dec By AnkitaNo Comments

Story

You Take Rest, SERVURANCE App Will Clear The Mess

There are so many things in our day to day life that we depend on manual help for, for our basic necessities and getting that services on time and with minimum efforts becomes very tedious. How about an online access and a user friendly application for major and even minor household tasks like cleaning and other stuffs? Cleansening and hygiene go hand in hand and we often overlook their importance. An app called SERVURANCE provides solution to this problem and strikes just the right chord. Servurance, the application, gives premium Deep Cleaning Services to Homes and Offices in Delhi/NCR and other metro cities. Servurance uses world class hardware and cleaning specialists to clean and sterilize your home. Their staff is well rounded, prepared and confirmed to guarantee your well bein...

Amazon Launchpad For Startups- Register For Rs 5000 and Sell Your Product Worldwide

6Dec By AnkitaNo Comments

News

Amazon Launchpad For Startups- Register For Rs 5000 and Sell Your Product Worldwide

E-commerce giant Amazon today rolled out its global programme 'Launchpad' in India to provide startups in the country a platform to market, sell and deliver products across the globe. India is the seventh country where Amazon Launchpad has been made available, and the platform, "tailormade" for startups, is available for a fee of Rs 5,000 a month. Launchpad is already available in the US, UK, China, Germany, France and Mexico. Through the Launchpad page startups and entrepreneurs can sell products on a global scale, overcoming general marketplace challenges like requirements of large investments to get noticed and loss of margins in channels, the company said. Amazon Launchpad will offer startups and small enterprises access to custom pages where sellers can showcase their products th...

E-grocery Platform BigBasket Target 300% Growth, Rs 2,000 crore Revenue at Fiscal End

5Dec By AnkitaNo Comments

BUSINESS

E-grocery Platform BigBasket Target 300% Growth, Rs 2,000 crore Revenue at Fiscal End

With people becoming comfortable buying even milk and bread online, e-grocery platform BigBasket today said it has seen 300 per cent growth in revenue in the past one year and expects to cross the Rs 2,000 crore-milestone by the fiscal-end. With four million registered customers, the Bengaluru based firm expects to become profitable by March 2018. "In the past year alone, we have seen over a 300 per cent growth and continue to grow by 10 per cent on a month-on-month basis. We hope to triple revenues to Rs 2,000 crore by March 2017," BigBasket co-founder Vipul Parekh told Pixr8. Parekh added that the company's revenue has grown from Rs 178 crore in FY2015 to Rs 700 crore in FY2016. "However, these numbers do not include the impact of demonetisation that has in fact, pushed our sales up ...

Indian PM Modi Wins Online Reader’s Poll For TIME Person of The Year

5Dec By Press Trust of IndiaNo Comments

INDIA, News

Indian PM Modi Wins Online Reader’s Poll For TIME Person of The Year

Prime Minister Narendra Modi has won the online reader's poll for TIME Person of the Year 2016, beating out other world leaders like US President-elect Donald Trump, incumbent US leader Barack Obama and Russian President Vladimir Putin. Modi won with 18 percent of the vote when the poll closed last night, getting significantly more votes than his closest contenders, including Obama, Trump and Wikileaks Founder Julian Assange, who all received 7 percent of the 'yes' vote. Modi was also placed far ahead of other prominent figures of this year, like Facebook founder Mark Zuckerberg (2 percent) and US Presidential nominee Hillary Clinton (4 percent), Time said. Time's editors will decide the final Person of the Year later this week, but the online poll results provide a look at how the world...

5Dec By AdityaNo Comments

FUNDING

Indore Based Fitness App Froyofit Raises Pre-Series A Funding From Indian Actress

Indore-based fitness discovery platform, Froyofit has raised an undisclosed amount of Pre-series A funding in a round led by Dr. Pooja Gandhi, who is an Indian actress and producer and works mainly in Kannada and Tamil cinema and has two Filmfare awards to her name. Pooja will also be the face of Froyofit in South Indian market. Froyofit is a fitness app available on Android and iOSplatforms and caters mainly to the tier-2 market of fitness enthusiasts. "This capital will give us additional resources to expand strategically into new markets, innovate rapidly, and deliver on our vision to make fitness discovery easy and accessible to everyone," said Piyush Jain, Founder of Froyofit. "The response to the concept of fitness discovery is really overwhelming in tier-2 markets and we consi...

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...

Alibaba Backed Out To Acquire Indian E-commerce Firm Snapdeal

2Dec By AnkitaNo Comments

News

Alibaba Backed Out To Acquire Indian E-commerce Firm Snapdeal

China's Alibaba Group Holding is not buying Indian e-commerce company Snapdeal and is not in talks to do so, a person familiar with the matter said on Thursday, dampening talk that an acquisition was in the works. Rumour rumour on the wall, which troll did you callYou said sold, they said bought, but whoever listened to you didn't get diddly squat.— Kunal Bahl (@1kunalbahl) December 1, 2016 Hangzhou, China-based Alibaba was also in talks with Flipkart for a potential buyout but it seems like the talks have fallen through as Alibaba takes an interest in acquiring Snapdeal, which has raised over $1.76 billion in 12 funding rounds. Alibaba had already invested in India's leading online payment platform Paytm in September 2015, also acquired 40% stake. A strategy likely t...