startup | Pixr8 News

18Jun By AnkitaNo Comments

INDIA

Indian Government Approved a Start-up Incubation Centre for Mangaluru

The Indian government has approved a start-up incubation centre for Mangaluru to provide basic facilities for people intending to set up self-employment units, Union Minister Nirmala Sitharaman said. The Centre would start functioning within four months with an investment of Rs 1.18 crore, she said. Facilities would be provided to 60 start-up companies at the centre in the initial phase, the Minister of state for for Commerce and Industry said after inspecting the site identified for the centre here last evening. The start-up companies could function here for a specified term and required facilities would be provided in the second floor of the corporation sub office. Kanara Chamber of Commerce and Industry, Nitte University, National lnstitute of Technology, Karnataka (NIT-K)...

NetApp Launches NetApp Accelerator in India

8Jun By PriyankaNo Comments

News

NetApp Launches NetApp Accelerator in India

NetApp today announced launch of NetApp Accelerator programme, the company's first startup accelerator here, which will provide startups with access to productivity tools and networking opportunities with potential investors. The programme will provide an equity-free grant of USD 15,000 to these startups on completion of the programme, NetApp India Senior Vice President and Managing Director Deepak Visweswaraiah said in a statement here. "What is more is that the startups can own their IP (Intellectual Property) and NetApp would not seek a stake in the same," he added. The programme will provide startups with access to collaboration and productivity tools, co-working space out of the company?s global centre of excellence in Bengaluru as well as networking opportunities wit...

US Based Ebix Acquire 80% Stake in India Based Digital Payment Startup Itzcash For 800 Crores

25May By AdityaNo Comments

ACQUISITION

US Based Ebix Acquire 80% Stake in India Based Digital Payment Startup Itzcash For 800 Crores

US headquartered Ebix today said it has invested about Rs 800 crore to acquire 80 per cent stake in payment solutions exchange ItzCash. Ebix is an international supplier of on-demand software and e-commerce services to the insurance, financial, e- governance and healthcare industries. Founded in 2006, ItzCash is Indias leading digital payments firm, the company has since expanded verticals such as remittances, financial services, corporate solutions, PoS and payment gateway. With the new investment by Ebix, the company is looking to foray into areas such as credit, insurance, healthcare and investments to accelerate growth momentum going forward, a release said. "We are big believers in the power of exchanges and thus have been keen to take an early position in India in terms o...

Softbank-Saudi Tech Fund Becomes World’s Biggest With $93 Billion of Capital

21May By reutersNo Comments

FUNDING

Softbank-Saudi Tech Fund Becomes World’s Biggest With $93 Billion of Capital

The world's largest private equity fund, backed by Japan's Softbank Group and Saudi Arabia's main sovereign wealth fund, said on Saturday it had raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics. "The next stage of the Information Revolution is under way, and building the businesses that will make this possible will require unprecedented large-scale, long-term investment," the Softbank Vision Fund said in a statement. Japanese billionaire Masayoshi Son, chairman of Softbank, a telecommunications and tech investment group, revealed plans for the fund last October and since then it has obtained commitments from some of the world's most deep-pocketed investors. In addition to Softbank and Saudi Arabia's Public Investment Fund (PIF), the ...

12May By AdityaNo Comments

FUNDING

LegalRaasta Raises INR 32 Crore Series A Funding From Impanix Capital

The Delhi-based startup, LegalRaasta, which provides finance and taxation services to SMEs, raises approximately $5 million in Series A funding from Impanix Capital. LegalRaasta intends to use these funds in building GST compliance software for SMEs, CAs and enterprises. They will offer both - a standalone GST Software and an API interface, to connect ERP (such as SAP, Oracle and Tally) with GST systems. LegalRaasta has already applied as a GSP (GST Suvidha Provider) with the government. LegalRaasta intends to serve its existing SME clients and over 80 lakh+ potential SMEs to be covered under the GST regime. Through its GST software solution, LegalRaasta intends to simplify GST filing through features such as reconciliation, excel upload, app-based GST filing, etc. LegalRaasta alread...

12May By reutersNo Comments

FUNDING

SoftBank Investing $5 Billion in China Ride Hailing Firm Didi Chuxing

SoftBank Group Corp said it has agreed to invest $5 billion in China's Didi Chuxing, confirming it led a recent fund-raising round by the ride-hailing firm that sources said valued Didi at more than $50 billion. Didi said last month it raised more than $5.5 billion to expand its business overseas and develop artificial intelligence technology. Sources had said investors included SoftBank. A SoftBank spokesman said on Friday the investment was related to Didi's last fund-raising round. SoftBank is trying to transform itself into the "Berkshire Hathaway of the tech industry" with the launch soon of a $100 billion technology fund as telecoms services markets mature. It has already announced plans to invest at least $25 billion over the next five years in the fund, which would be o...

FinTech Startup EarlySalary Raises USD 4 Million From IDG Ventures India & Others

10May By AdityaNo Comments

FUNDING

FinTech Startup EarlySalary Raises USD 4 Million From IDG Ventures India & Others

EarlySalary India’s first FinTech startup to offer Salary Advances and Instant Cash Loans has announced its Series A funding of $4 Million from IDG Ventures India (IDGVI) and Dewan Housing Finance Corp Ltd (DHFL). The company focuses on helping young working professionals get Instant Loans and Salary Advances in minutes and is fast becoming the first line of credit to young working Indians. More than 80% of its customer base is in their first career roles and most of them are new to credit and are first time borrowers. Over the past year, EarlySalary developed its Underwriting System which is a self-learning Algo Based Decisioning System. The System in real time reviews Social Media and Credit Bureau data of customers and helps approve the loan for them. Targeted at young working pro...

Techmagnate Acquires BlogX, the Largest Blog Conference in India

10May By PriyankaNo Comments

ACQUISITION

Techmagnate Acquires BlogX, the Largest Blog Conference in India

Techmagnate, India’s leading Digital Marketing Agency acquired BlogX, India’s largest blog conference where bloggers and content managers connect. Upon the acquisition, Mr. Manmeet Pal Singh, founder of BlogX said, “A new chapter begins today for BlogX under the management and expert guidance of Mr. Sarvesh Bagla, CEO of Techmagnate, which is rated as one of the best digital agency offering digital marketing services in India. We didn’t have the bandwidth or resources to scale BlogX and extend its reach across the country. But with this sale we’re confident that our vision to create a better platform for content creators and revive local blogging communities will come to fruition under Sarvesh’s leadership.” The first BlogX event took place in July 2016 in New Delhi, and since then t...

Chaayos Will Open 20-30 Outlets in Few Months

9May By AnkitaNo Comments

News

Chaayos Will Open 20-30 Outlets in Few Months

Homegrown tea cafe chain Chaayos is looking to scale up its presence in Mumbai and Delhi, and plans to open about 20-30 outlets in the next few months. "We are looking at expanding in and around our current hubs Delhi and Mumbai. We are looking to open about 20-30 outlets in the next few months," Chaayos co-founder Raghav Verma told Pixr8. Chaayos currently runs 31 outlets across Delhi-NCR and Mumbai. "We can open another 15-20 outlets in Mumbai itself going forward, as it is under-penetrated. We are looking to open outlets in Pune, Gujarat, Goa, Chandigarh, Jaipur, and highways around NCR this year," he added. The Tiger Global-backed company is also betting big on the deliveries business, Verma said. "Our deliveries business is growing rapidly at almost 20 per cent month on...

Cyber Security Startup Sequretek Raises $2 Million

9May By AdityaNo Comments

FUNDING

Cyber Security Startup Sequretek Raises $2 Million

Cyber security start-up Sequretek today said it has raised funding from GVFL and Unicorn India Ventures. While the company did not disclose the size of the funding, sources said Sequretek has raised under USD 2 million in fresh funding in the series A. The Mumbai-based company plans to use the funds for further building on intelligence within their current product offerings and foray into new markets within India and outside, Sequretek said in a statement. Launched in 2013 by Anand Naik, Sequretek offers a suite of products and services to enterprises for securing information. Its clients include HDFC Bank, IDBI Federal, HDFC Limited and NCDEX as well as companies in sectors like retail, pharma and IT-ITeS. The founders had pumped in about Rs 4.5 crore in 2013 and raised USD...

Indian Narcotics Control Bureau Busted an Illegal Internet Pharmacy Startup

20Apr By AnkitaNo Comments

News

Indian Narcotics Control Bureau Busted an Illegal Internet Pharmacy Startup

The Narcotics Control Bureau of India today said it has arrested two persons involved in an illegal internet pharmacy business and has seized psychotropic drugs worth lakhs of rupees from them. The NCB teams of Andhra Pradesh, Karnataka and Telangana raided on April 18 night a "clandestine and unregistered" call centre at Thanisandra that used to sell psychotropic substances and other prescription drugs through the internet to thge US, Australia and various European countries. During the search, a large quantity of psychotropic substances like Alprazolam, Amphetamine, Diazepam, Clonazepam, Lorazepam among others were seized, NCB said in a statement. It said two persons, Salim Pasha and Mohammed Suhail Ahmed, were arrested under the Narcotic Drugs and Psychotropic Substances (NDPS)...

Myntra Acquires Bengaluru Based Logistics Startup InLogg

20Apr By AnkitaNo Comments

ACQUISITION

Myntra Acquires Bengaluru Based Logistics Startup InLogg

Fashion e-tailer Myntra today said it has acquired Bengaluru-based InLogg for an undisclosed amount, a move that will further strengthen the supply chain capabilities of the Flipkart-owned company. Founded in 2015, InLogg offers a technology platform that provides end-to-end logistics solutions for the e-commerce sector. "As part of the acquisition, the team at InLogg has been inducted into Myntra, making it an acquihire that will further strengthen and expand Myntras supply chain capabilities," Myntra said in a statement. "With an 80 per cent year-on-year growth, we are on a strong trajectory... The Inlogg acquihire with the platform and capabilities will help us scale while delivering great customer experience in Tier II, III and IV cities," Myntra Chief Strategy and Planning Of...