Connecting Businesses with Opportunities in India

News You Can Use

Sept 1, 2018

1. Google is partnering with four Indian banks to launch digital lending for consumers in India.

2. Uber Elevate, the aerial taxi arm of Uber, is considering India as one of the five countries where it wants to launch the service.

3. Leap India, a logistics company that rents out pallets and large foldable containers, has raised Rs 200 crore debt from Piramal Capital & House Finance and is in talks with private equity firms to raise equity worth another Rs 250 crore.

4. Kalaari-backed SME payments platform Instamojo launched two new products, MojoXpress and MojoCapital, on Tuesday, and said it was targeting $1b in transactions by 2019.

Aug 29, 2018

1. Indian Space Research Organisation (ISRO) has announced its plans to launch incubators across India to groom space startups that build newer solutions in rocketry, communication satellites, and applications based on remote sensing data.

2. One97 Communications, the parent of digital payments company Paytm, has invested $16M in Gamepind Entertainment Pvt Ltd, a mobile gaming offering, in a joint venture (JV) with AGTech, a Hong Kong-based mobile games development company.

3. PolicyBazaar plans to work with China’s Ping An Insurance Group, which owns and operates Ping An Good Doctor — the world’s largest healthcare portal — to strengthen its new healthcare business DocPrime.

4. OYO has acquired Mumbai-based Weddingz.in, an online marketplace for wedding venues and vendors, for an undisclosed sum.

5. Ola has appointed Ben Legg as managing director of its recently announced UK operations.

6. Hotstar's parent Novi Digital media has received an investment of Rs 516 crore from Star US, as per financial documents sourced from business intelligence platform paper.vc. 

7. Bengaluru and Delaware-based biopharma startup, Bugworks Research, has raised a Series A round of $9 million (about Rs 62.2 crore) led by the University of Tokyo Edge Capital (UTEC). 

8. Online mattress company Wakefit is in advanced talks with three venture capital funds including Sequoia Capital to raise about Rs 40 crore ($6 million), reported ET.

9. Saama Capital and Blume Ventures-backed queue management startup Sminq is in talks with private equity firms to raise $8-10 million, reported ET.

10. Amazon India on Friday has signed a memorandum of understanding (MoU) with the Uttar Pradesh government to support MSME entrepreneurs across nine districts as a part of the state’s One District One Product (ODOP) scheme, reported PTI.

11. Ultraviolette Automotive Pvt Ltd (UAPL), which is developing electric two-wheelers, has raised Rs 6 Cr in a Series A funding round from TVS Motor Company.

12. Zomato on Friday announced that it has extended its food delivery services to Dehradun, Agra, Patna, Mysore, Ranchi, Raipur, and Aurangabad.

13. 3 startups won cash prize at Samsung Global Startup Acceleration Program in Bangalore

 

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1. Self-drive car rental startup Revv has raised a funding of $14.27M (Rs 100 Cr) in a Series B funding round led by South Korea’s largest automaker Hyundai.

2. Online stock broking startup Zerodha has invested Rs 2.5 crore as seed fund in Sensibull, a startup working in the options trading business.

3. Tez by Google has just crossed 50 million downloads in India.

4. After raising its sixth fund at $695 million on Tuesday, Sequoia Capital India became the largest VC fund in the country, losses three directors (Abhay Pandey, VT Bharadwaj, Gautam Mago) in past 15 months.

5. Global ecommerce company eBay is starting an export business to facilitate Indian sellers to sell across its major markets.

6. Augmented reality startup, HoloSuit has raised an undisclosed sum of funding from three investors—Shabir Momin, co-founder of digital video platform Zenga Media Pvt Ltd; Rohit Nanda, a Singapore-based infrastructure sector equity investor; and Mohammed Sirajuddin, co-founder at co-working space provider Creator's Gurukul.

7. Info Edge (India) Ltd, which runs internet businesses Naukri.com and 99acres.com, has invested Rs. 2.64 crore ($377,071) in medical healthcare records platform Medcords.

8. Male grooming brand Bombay Shaving Company has raised Series A round of funding led by consumer goods major Colgate-Palmolive.

9. Packaged food products startup Sattviko has raised an undisclosed amount of funding from a bunch of angel investors.

10. Apple has removed Facebook's Onavo VPN app from the App Store since it did not comply with its privacy rules.

11. Indian community workplace discussion app Hush has raised an undisclosed amount as part of its first external round of investment led by early-stage venture capital firm Accel along with participation from Sanjay Nadkarni, currently country manager at Houzz India as also from a clutch of high networth individuals.

12. Car and bike pooling platform Quick Ride is in talks to raise $4 million in a round led by Sequoia Capital, reported ET.

13. IT company Tech Mahindra today said it will acquire Czech Republic-based engineering services firm Inter-Informatics for around Rs 8 crore through a wholly-owned subsidiary.

14. Oppo has finalized discussions with some of its key components makers to establish production facilities in India.

15. Recommerce platform InstaCash has raised an undisclosed amount in funding from CompAsia, a Singapore-based mobile lifecycle solution provider.

16. Cognizant said it has agreed to acquire SaaSfocus, a consulting firm specializing in digital transformation, leveraging the Salesforce Platform.

 

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Aug 23, 2018: “ Chinese Mobile Maker, Forme Trading plans to invest Rs 100 crore in its new mobile phone manufacturing unit at IITGN (Integrated Industrial Township Greater Noida) which is likely to create 600 direct and 1,000 indirect jobs.”

Keywords: Make in India, Manfacture in India, Invest in India

Aug 23, 2018: The consumer electronics company, Hair, to invest $492 Milllion (Rs. 3,069 Crore) in a manufacturing unit in Greater Noia and that will generate direct employment for 3,950 people with this project, according to Delhi Mumbai Industrial Corridor Development Corporation (DMICDC).

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Keywords: Manufacturing in India, Make in India, invest in india, doiing business in india

Aug 22: The gap between exports and imports reached $18 billion in July, fanned by a higher oil import bill, according to data released by India’s commerce ministry on Tuesday. That compared with the $15.7 billion median estimate in a Bloomberg survey of 24 economists and $16.6 billion in June.
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