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India’s Leading Advertiser Firm Inmobi Announced Partnership With US Based Analytical Startup Moat

29Oct By AnkitaNo Comments

BUSINESS

India’s Leading Advertiser Firm Inmobi Announced Partnership With US Based Analytical Startup Moat

InMobi, the world's largest independent mobile advertising and discovery platform, today announced a partnership with Moat to offer brand advertisers mobile video measurement and currency through both InMobi Exchange and the InMobi network. The partnership will enable advertisers to measure, among other metrics, "human and viewable" and "human, viewable, and audible" (sound, sight and motion) viewability and attention metrics across all mobile ad formats including mobile video and native advertising, as well as transact on these metrics using Moat Currency. According to Strategy Analytics, worldwide revenue from mobile video will reach $25 billion by 2021. As advertisers shift their digital ad dollars to video, ad viewability is an increasing priority for advertisers. This partnership w...

27Oct By reutersNo Comments

INDIA

India Allows Startups to Raise up to $3 Million Each via ECB

India has allowed start-ups to raise up to USD 3 million each in a fiscal year via the external commercial borrowings (ECB) route, the country's central bank said in a statement on Thursday. Overseas branches or subsidiaries of Indian banks will not be allowed to lend to start-ups via the ECB framework, the Reserve Bank of India statement (RBI) said. The RBI did not specify the maximum cost at which start-ups can raise money via ECB and said it will be mutually agreed between the borrower and the lender. Typically, the central bank specifies the maximum cost for financial institutions to raise money via ECB. About ECB According to wikipedia, an external commercial borrowing(ECB) is an instrument used in India to facilitate the access to foreign money by Indian corporat...

Bengaluru Based BHIVE Workspace Launches Its Largest Co-Working Space in Bengaluru

26Oct By AnkitaNo Comments

News

Bengaluru Based BHIVE Workspace Launches Its Largest Co-Working Space in Bengaluru

India’s leading shared office provider BHIVE Workspace has launched its largest co-working office in the heart of the Bengaluru city. The new office will be located at Prestige Towers, Residency Road and will have a capacity of over 600 members. With this, the company will strengthen its position as the largest co-working space provider in the city. “We are committed to extending the ‘BHIVE Experience’ to all entrepreneurs and professionals at the most convenient and premium locations. Our new co-working space at Residency Road is a huge step in this direction,” said Shesh Paplikar, co-founder and CEO of BHIVE Workspace. “We are focused on delivering the best co-working environment and our new office will set new benchmarks for office design and overall working experience,” he added. ...

24Oct By AnkitaNo Comments

FUNDING

Food Delivery Startup Box8 Raises Rs 50 Cr Funding From IIFL, Mayfield

Food delivery start-up Box8 today said it has raised Rs 50 crore in funding from IIFL Seed Ventures Fund & Mayfield. Box8 is a full stack online food delivery player that specializes in preparing and delivering Indian food. Its diverse menu consists of over 100 dishes in all-in-1 Indian meals, biryanis, wraps, sandwiches and salads. Started by two IIT graduates, Amit Raj and Anshul Gupta, Box8 now serves 12,000 meals a day to its consumers through a network of 60 stores across three cities -- Mumbai, Pune and Bengaluru. The funds helps strengthening the supply chain eco system, building superior technology, enhancing product development and expanding to new geographies, Amit Raj said. "Our strategy of establishing ourselves in certain key markets, instead of spreading wide and ...

Former HCL Tech CEO Sets up Rs 100-cr Fund For New Venture Techcelx

21Oct By Press Trust of IndiaNo Comments

FUNDING

Former HCL Tech CEO Sets up Rs 100-cr Fund For New Venture Techcelx

Following in the footsteps of many of his industry peers like Nandan Nilekani and Azim Premji, former HCL Technologies chief executive Anant Gupta has now set up a Rs 100-crore fund to support ventures developing cutting-edge technology products. Gupta, whose departure from HCL Technologies was announced today, has founded a new investment firm 'Techcelx' that will focus on developing next-gen digital technology products and platforms. "With Techcelx, I am pursuing my long-term goals and passion towards promoting our country's entrepreneurship and innovation potential in the technology space," Techcelx Founder Chairman and CEO Anant Gupta said. The Rs 100-crore fund will focus on ventures with specialisation in technologies like machine learning, IoT (Internet of Things), artifici...

Saudi Arabia, SoftBank Plan $100 Billion Tech Fund

14Oct By reutersNo Comments

FUNDING

Saudi Arabia, SoftBank Plan $100 Billion Tech Fund

Saudi Arabia and Japan's SoftBank Group said they will create a technology investment fund that could grow as large as $100 billion, aiming to create one of the world's largest private equity funds. The plan is part of a series of dramatic business initiatives launched by Riyadh this year as Saudi Arabia, its economy hurt by low oil prices, deploys huge financial reserves in an effort to move into non-oil industries. SoftBank's founder and chairman Masayoshi Son, who has built his company into a $68 billion telecommunications and tech investment behemoth from a $50,000 start-up, has been seeking to expand in new areas. The Public Investment Fund (PIF), Saudi Arabia's top sovereign wealth fund, is set to be the lead investment partner and may invest up to $45 billion over the next ...

LIC, Pension Funds Must Step in To Fund Startups: DIPP Secretary

7Oct By Press Trust of IndiaNo Comments

News

LIC, Pension Funds Must Step in To Fund Startups: DIPP Secretary

Life Insurance Corporation of India and other pension funds "must step in" to fund startups, Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said on Friday. "LIC and other pension funds must step in... definitely that money needs to be leveraged," Abhishek said here at the India Economic Summit, jointly organised by CII and WEF. Speaking at a session on startups, founder of Pinstorm and Seedfund Mahesh Murthy stated that big companies like LIC and cigarette firms are found wanting as far as funding of start-ups is concerned. "I am taking note (of this suggestion)," Abhishek said, adding that the government is engaging with start-ups to resolve issues to give a push to budding entrepreneurs. On the Rs 10,000-crore Fund of Funds, the secretary s...

InnoVen Capital Invests $20 Million in 15 Deals

7Oct By AdityaNo Comments

BUSINESS

InnoVen Capital Invests $20 Million in 15 Deals

ANI- Asia's leading venture debt and specialty lending business InnoVen Capital has announced deals funded in the second quarter for FY17. The company has provided venture debt worth over $20 million in 15 deals across new clients on-boarded and existing portfolio companies that have exhibited strong performance. Among the new clients that InnoVen Capital has added to its growing portfolio are: OYO Rooms - Indian hotel brand that owns and operates as well as aggregates standardized hotel rooms, RAW Pressery - fresh cold pressed juices, and Rentomojo - online furniture rental platform. Between July and September this year, InnoVen as a platform has also closed its first two cross-border deals with Capillary Technologies and Simplilearn, in order to cater to their global aspirations an...

Kishore Biyani Led Future Group Launches It’s Own Digital Wallet FuturePay

6Oct By AdityaNo Comments

News

Kishore Biyani Led Future Group Launches It’s Own Digital Wallet FuturePay

Kishore Biyani-led Future Group has launched FuturePay, which is a digital loyalty wallet that helps consumers shop without card or cash across formats such as Big Bazaar, Ezone and Home Town. The app is directly linked with all existing loyalty programs and cards bringing all kinds of transactions under one roof. "We are providing a friendly account management to our customers through FuturePay. We are ensuring that the customer has the confidence to shop with us and not go anywhere else," said Kishore Biyani, Group CEO, Future Group. The app's Price Match feature will compare the price items on the customers bill with that of competitors -both online as well as offline -and credit the difference to the FuturePay wallet in case it finds a lower price for the product. Future Group...

4Oct By NitishNo Comments

FUNDING

Global Payments Company Remitr Raises $1 Million Funding From Kunal Shah & Vijay Shekhar Sharma

MUMBAI, OCTOBER 4: Global payments company Remitr has raised around $1 million from a clutch of well-known global start-up founders and angel investors including Paytm founder Vijay Shekhar Sharma, FreeCharge’s Kunal Shah and Sandeep Tandon, GOQii founder Vishal Gondal, and Seedfund founder Pravin Gandhi. Founded in 2015 by Kanchan Kumar, Sandeep Jhingran and Sandeep Todi, Remitr’s platform routes end-to-end payments using its proprietary payment network, which integrates with clearing systems and third-party payment networks in various countries. There are a multitude of processing layers involved in cross-border payments, and each layer adds its own costs, coupled with exhaustive compliance requirements, making it expensive and complex. Remitr helps connects all the dots by ensuring c...

4Oct By reutersNo Comments

FUNDING

Juno, The Uber Rival Which Offers Equity to Drivers, Looks to Raise $50M Funding

Juno, a startup looking to attract drivers from bigger ride-sharing rivals such as Uber by offering them its own stock, is seeking $50 million in its biggest fundraising round to date, according to a person familiar with the matter. Investors have poured more than $28 billion into the ride services sector over the past decade, propelling growth at Uber, Lyft, China's Didi Chuxing and a host of smaller upstarts, such as Gett. Economists have said there may be scope for even more competition, because ride-sharing services are relatively cheap to start, depend on contract labour with no inherent loyalty or specialized skills, and have free apps that can be downloaded in seconds. Juno is working with investment bank Mizuho Financial Group Inc to find investors, according to the person...

DIPP to Hire Consultants to Push Startup India

29Sep By Press Trust of IndiaNo Comments

News

DIPP to Hire Consultants to Push Startup India

The commerce and industry ministry is looking to engage consultants to promote the government's Startup India campaign for budding entrepreneurs. The department of industrial policy and promotion (DIPP), under the ministry, has issued an advertisement for engaging a senior consultant and two consultants for the Startup India initiative. It has invited applications from eligible candidates for "engagement as senior consultant/consultant on contractual basis." It said the job responsibilities for the senior consultant include assessment of the existing startup ecosystem in the country, identifying the national and international best practices, making recommendations to facilitate growth of startups and monitoring implementation of action plans, schemes and programmes. Those of th...