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Bengaluru Based Virtual Reality Startup Absentia Raises Rs 8 Crore

18Apr By RishabhNo Comments

FUNDING

Bengaluru Based Virtual Reality Startup Absentia Raises Rs 8 Crore

Absentia, a bengaluru based virtual reality startup raised Rs 8 crore in a pre-series-A round. Investors like Exfinity Venture Partners, former Infosys executives V Balakrishnan and Mohandas Pai, Deepak Ghaisas and Girish Paranjpe participated in the round of funding. The company will use this fund to build Norah AI, an artificial intelligence engine that can create interactive content for games with minimal human intervention. According to the company, AI can create a completely new set of interactive content for arcade games, casual games, puzzles, animation and graphics.Norah. “With Norah AI, we are aiming to become the world's first auto content-generation company with a focus on the media and entertainment segment. Over the past few months, the team has been successful ...

Ola readies big push for electric vehicles in India

9Apr By Press Trust of IndiaNo Comments

News

Ola readies big push for electric vehicles in India

SoftBank-backed Ola will soon launch a pilot to test electric vehicles on its platform in the country. Ola, which is locked in an intense battle in the Indian market with US-based Uber, is expected to roll out its pilot in cities like Nagpur in the coming months. Ola CEO and co-founder Bhavish Aggarwal today said the company will pilot electric vehicles in Indian cities this year, but did not disclose details. "Electric vehicles can transform transportation completely in India by enabling lower cost of operation and ownership," he said. In December, Softbank Group chairman Masayoshi Son had said Ola may introduce one million electric vehicles in India over the next five years. Ola's push comes even as sales of electric vehicles in India has remained sluggish despite government ...

Hyderabad Based Startup Smartron Raise Rs 250 Crore

8Apr By PriyankaNo Comments

FUNDING

Hyderabad Based Startup Smartron Raise Rs 250 Crore

Technology company Smartron today said it will raise up to Rs 250 crore more and plans to more than double its workforce over the next 18 months. Smartron, a Hyderabad-based start-up today celebrated its first anniversary of the public launch and introduction of tbook, tphone, and ttab devices and tronxIoT platform. The day also marked the expansion of the R&D and other operations with the opening of the new corporate headquarters located in Gachibowli here, which was inaugurated by Telangana’s IT Minister K Taraka Rama Rao. Smartron Founder and Chairman Mahesh Lingareddy said "this expansion is a step towards building a stronger base to support the R&D and innovation to create a smart product ecosystem." Smartron, in the last two years, went from inception to 200 plus team...

Paytm Steps In Healthcare Domain, Invested in Startup

7Apr By PriyankaNo Comments

FUNDING

Paytm Steps In Healthcare Domain, Invested in Startup

Paytm, India's leading mobile payment company has invested in healthcare startup QorQI. The funding amount has been undisclosed. The startup offers a solution that gives doctors access to patient’s health and clinical data at the touch of a button. The startup aims to use AI and big data to improve productivity and care quality of doctors and help patients manage their health and existing ailments better. Commenting on the funding, QorQl’s Sanjay Singh said, “QorQL is pursuing the vision to democratise healthcare access. Our connected health applications are leveraging AI and big data to collect, integrate and interpret data for all users. This not only helps us solve tough problems but also helps our users stay healthy.” “Paytm’s investment in QorQl is a huge endorsement of our prod...

Challenge for Startups to Get Series C & Beyond Funding: Kris Gopalakrishnan

7Apr By Press Trust of IndiaNo Comments

Entrepreneurs Talk

Challenge for Startups to Get Series C & Beyond Funding: Kris Gopalakrishnan

Securing series C and beyond funding is a challenge for start-ups, Information Technology veteran Kris Gopalakrishnan said as he called for a simple, orderly and fast-track mechanism to shut failed businesses. The start-ups scenario in India is pretty good but when those firms go for series C and beyond funding, there are some challenges, the co-founder and former CEO of Infosys said. "But at the seed stage or series A (funding), there is still money available; good ideas will get funded and there are lot of opportunities for innovation and new startups in the area of financial services, healthcare, niche retail and deeper technologies, converting research into new products and new businesses," Gopalakrishnan told Pixr8 here. "So, there are significant opportunities still (to tap in t...

Crowdfunding Platform DesiredWings Acquires Catapooolt

7Apr By AnkitaNo Comments

ACQUISITION

Crowdfunding Platform DesiredWings Acquires Catapooolt

Promoters of crowdfunding platform Desiredwings.com have acquired Catapooolt.com for an undisclosed sum. Both the brands will stay in the market post this acquisition, focusing on different segments of the crowdfunding industry. By virtue of this acquisition, together Desired Wings and Catapooolt "stand as leaders and the largest crowdfunding platform" with various diversified successfully funded campaigns to its portfolio, a company release said. "Post this acquisition, we have secured the leadership position in the industry and now with the combined strength of both the brands, we can grow faster and also help shape this industry," Shabir Momin, co-founder, DesiredWings, said. DesiredWings facilitates business idea validation and development, helps start-ups prefund their future pro...

IIT Bombay incubated Startup Raises 2 Crore

6Apr By AdityaNo Comments

FUNDING

IIT Bombay incubated Startup Raises 2 Crore

Nanosniff Technologies, an IIT Bombay incubated company, has raised Rs 2 crore (about USD 300,000) from 1Crowd and its investor community. Nanosniff is a deep technology company working on high impact offerings in MEMS domain with applications in healthcare and security markets. "Nanosniff is an exemplary case where genuine IP has been created from robust R&D to address healthcare and security markets," 1Crowd co-founder Anil Gudibande said in a statement. It had previously raised an undisclosed amount from a group of angel investors.

3Apr By PriyankaNo Comments

FUNDING

Education Technology Startup Testbook Raises Funding From Matrix Partners India

Matrix Partners India announced today that it has invested an undisclosed amount in education technology startup, Testbook. "We are on a mission to reshape the process of how students prepare for competitive exams. Our endeavor is to deliver world class, personalised learning content for students while solving the problem of access and affordability for the masses," Ashutosh Kumar, founder and CEO of Testbook, said. Founded by a team of IIT graduates, Testbook is an online learning platform enabling students to prepare for recruitment exams for Government jobs such as SBI PO, SSC CGL, IBPS PO, Railways and many more, Matrix said in a statement here. Government jobs exam preparation is one of the largest education markets in India with over 40 million students appearing every year ...

Woman Entrepreneur Writes to PM Modi Against Stayzilla Fraud

3Apr By AdityaNo Comments

News

Woman Entrepreneur Writes to PM Modi Against Stayzilla Fraud

The woman proprietor of Chennai-based advertising Jigsaw Solutions, which was allegedly defrauded of Rs 1.69 crore by Stayzilla, today urged Prime Minister Narendra Modi and his government to address issues of funding and transparent business models at the earliest. Radha Shekhar, in a letter to Modi, said this was needed to avoid any suffering women entrepreneurs like her face at the hands of a few 'unscrupulous businessmen' posing as startups. Jigsaw had alleged Stayzilla had defrauded it of about Rs 1.68 crore for services it rendered since last year. Yogendra Vasupal, co-founder of Stayzilla, an online hotel and homestay booking company, was arrested on March 14 for alleged cheating and criminal intimidation. He has twice been denied bail. Radha also wrote to IT Minister Ravi ...

Axel & Boris from Germany – The First Yessspreneurs Ready To Conquering the Indian market

1Apr By AnkitaNo Comments

Story

Axel & Boris from Germany – The First Yessspreneurs Ready To Conquering the Indian market

Born and raised in Germany, Axel & Boris grew up together and started their first IT company together in 1997 and were since then involved in technology and energy projects. They also creators of the Yesss Spirit, a powerful way to be energetic and positive every day - doesn't matter what's going on in life. Axel & Boris consider themselves as explorers, seeking for amazing people, new innovative ideas and discoveries worldwide. They founded Yesss CAPITAL to invest in technology, energy, and entertainment startups from India & Europe. Yesss CAPITAL was born out of their passion for innovations and the recognition that synergies do exist between diverse sectors, companies, & humans, and their growth can be greatly enhanced if their efforts are synchronized. The strate...

Route Mobile Founders Invests 65 Crores to Start Its Gaming Startup

29Mar By AnkitaNo Comments

FUNDING

Route Mobile Founders Invests 65 Crores to Start Its Gaming Startup

Route Mobile founders Rajdip and Sandip Gupta today announced an investment of USD 10 million or over Rs 65 crore to start an electronic gaming startup, Cobx Gaming Ventures. "As avid gamers ourselves we have always wanted to contribute to the growth of professional esports," Rajdip, the founder of Cobx, was quoted as saying in a statement. He added the esports category has matured in such a way that gamers can now consider it as a career as well. Mujahid Rupani has been named as chief executive of the new venture, the statement said. Cobx has also announced the launch of an international and Indian esports league. It will also be forming new international teams for popular online games, it added. Route Mobile is a city-based messaging and voice API company serving global clien...

Letsmd.com- One Stop Platform To Compare & Find Best Hospitals & Doctors

29Mar By AdityaNo Comments

Story

Letsmd.com- One Stop Platform To Compare & Find Best Hospitals & Doctors

Seeking to help patients get cheaper hospital treatment and loans to cover the cost, a group of entrepreneurs has launched an online aggregator. Founded by Mr. Prakhar Gupta and Tenzin Thargay, this New Delhi based healthcare startup Letsmd.com provide options to a person who can choose the hospital, the doctor and get the price/cost comparisons from 300 of the 500 speciality tertiary-care hospitals in the capital. Letsmd.com also facilitates loans for patients for a duration of 10-24 months at an interest of 6.5-10 per cent. It closed a USD 750,000 funding from a clutch of angel investors like Calcutta Angels, Waterbridge Ventures and Anupam Mittal, recently, founder Nivesh Khandelwal told Pixr8. The elective medical needs covered by the aggregator includes only IVF treatment, b...