TECHNOLOGY

Enterprise payments firm Airpay secures Series A funding from Kalaari Capital, others

March 21, 2017 | Shruti Jain

Mumbai-based payment services startup Airpay has raised Rs 24 crore ($3.6 million) as part of a Series A round led by Kalaari Capital and existing investors Rakesh and Rajesh Jhunjhunwala.

Exclusive: Tiger Global may be part-exiting Flipkart with 3x return

March 21, 2017 | Manu P Toms

Tiger Global, the biggest investor in Flipkart, may have struck a deal with Microsoft and other new investors to sell a part of its stake in the e-commerce company in the latest fund-raising round that valued it at $9.3 billion pre-money, a person familiar with the conversations told VCCircle. 

Two Bangalore women give a ‘clean’ twist to co-working spaces

March 21, 2017 | Arti Singh

Co-working spaces – the idea of an open and communicative work culture – is finally picking up in the Indian startup ecosystem.

Bombay High Court bars taxi unions from disrupting Uber's operations

March 21, 2017 | Vijayakumar Pitchiah

US-based Uber Technologies Inc's India subsidiary Uber India Technologies Pvt. Ltd has obtained a restraining order from the Bombay High Court that prevents dissenting taxi union bodies from disrupting its operations in Mumbai.

ShopClues looks to raise $75-100 mn in pre-IPO round

March 21, 2017 | Disha Sharma

Clues Network Pvt. Ltd, which runs e-commerce company ShopClues, is looking to raise $75-100 million (Rs 490-652 crore) in fresh funding even as it begins discussions with merchant banks for an initial public offering (IPO), a financial daily reported on Tuesday.  

Key takeaways from Airbnb CEO Brian Chesky’s India visit

March 20, 2017 | Shruti Jain

Home-sharing company Airbnb Inc has introduced a new offering in India, as it seeks to expand its operations in a market that is still tiny but growing rapidly.

WorkApps can now track field teams in real time with Google Maps integration

March 20, 2017 | Vijayakumar Pitchiah

Pune-based WorkApps Solutions Pvt. Ltd, which offers an enterprise workplace collaboration tool, has introduced an update to integrate its app within the Google Maps application programming interface (API).

How was StanChart PE’s partial exit from Redington?

March 20, 2017 | Bruhadeeswaran R

Standard Chartered Private Equity (StanChart PE) partially exited its six-year-old bet on Chennai IT products distributor Redington (India) Ltd on Monday.

Flipkart raises $1 bn in down round: Report

March 20, 2017 | Dearton Thomas Hector

Flipkart Pvt Ltd, the Singapore-based holding company of India’s largest e-commerce marketplace, has reportedly raised $1 billion in a massive fundraising round.

India stocks fall; Idea Cellular plunges after Vodafone deal

March 20, 2017 | Reuters

Indian shares snapped a two-session winning streak to end lower on Monday as software service exporters took a hit on concerns over a stronger rupee, and as investors took a breather after the NSE Nifty hit a record high last week.

Exclusive: Hiring startup PMaps Assessment raises angel funding

March 20, 2017 | Joseph Rai & Debjyoti Roy

Mumbai-based analytics-driven hiring services provider PMaps Assessment, which is run by PMaps HR Consultants Pvt. Ltd, has raised its first external funding from a group of Pune-based investors, a top company executive told VCCircle.

Snapdeal strategy head Jason Kothari formally takes over at FreeCharge

March 20, 2017 | Arti Singh

E-commerce firm Snapdeal, operated by Jasper Infotech Pvt. Ltd, has appointed Jason Kothari as chief executive officer of its mobile recharge platform FreeCharge.

Exclusive: GrabOnRent close to raising Series A round

March 20, 2017 | Dearton Thomas Hector

Bangalore-based GrabOnRent Internet Pvt. Ltd, which runs product rental marketplace GrabOnRent, is close to raising $3 million (Rs 19.5 crore) in Series A funding from new and existing investors, two persons familiar with the matter said.

Exclusive: Baring PE India revives venture-stage deals after nearly a decade

March 20, 2017 | Joseph Rai

Baring Private Equity Partners India Ltd (Baring PE India), which had stopped making fresh investments three years ago, has recently returned with a venture-style investment in an Internet startup, a person privy to the development told VCCircle.

Two senior executives resign from Snapdeal’s Bangalore centre

March 18, 2017 | Arti Singh

E-commerce firm Snapdeal, owned by Jasper Infotech Pvt. Ltd, continues to see senior-level churn. 

Meet the 12 startups selected for Yes Bank’s accelerator programme

March 17, 2017 | Varun Arora

India’s fifth largest private sector lender Yes Bank has chosen 12 fintech startups for the inaugural cohort of its accelerator programme.

Myntra set to invest in 10 fashion brands with accelerator programme

March 17, 2017 | Vijayakumar Pitchiah

Flipkart-backed fashion e-tailer Myntra is set to sign term sheets with 10 domestic brands and get them aboard its recently launched Brand Accelerator programme, a top company official told VCCircle.

Why Inventus' Kanwal Rekhi doesn't regret giving Flipkart, Snapdeal a miss

March 17, 2017 | Manu P Toms & Bruhadeeswaran R

Many moons ago, Kanwal Rekhi and John Dougery, the founding partners of Inventus Capital, carefully examined two fledgling e-commerce ventures but passed up the investment opportunity.

Exclusive: Former India head Latif Nathani quits eBay

March 17, 2017 | Binu Paul

Latif Nathani, who was heading eBay’s India business up until recently, has resigned from the company. Nathani served as the managing director and vice president of eBay India since May 2013 until last month when he moved back to the US.

Myntra and Jabong to integrate back end, logistics functions

March 17, 2017 | Vijayakumar Pitchiah

Flipkart-backed Myntra and Jabong will share the same logistics infrastructure by bringing together their back end and supply chain functions, a report in a financial daily stated.

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