TECHNOLOGY

Co-working space The Hive, LetsVenture join forces to set up incubators

March 16, 2017 | TEAM VCC

Virtuous Retail Services Pvt. Ltd, which operates collaborative workspace The Hive, has joined hands with online fundraising platform LetsVenture to set up and manage incubator spaces for startups. 

Myntra launches first offline store in Bengaluru to push private label brand

March 16, 2017 | Vijayakumar Pitchiah

Nearly seven months after Myntra announced its intent to go offline, the Flipkart-backed online fashion and lifestyle e-tailer has launched its first offline store in Bengaluru.

Exclusive: Amazon elevates India head Amit Agarwal

March 16, 2017 | Dearton Thomas Hector

US-based Amazon.com, Inc. has elevated India chief Amit Agarwal to senior vice president (SVP), making him one of the few SVPs at the e-tailing giant globally, a person familiar with the development told VCCircle.

Agri-tech startup FarMart raises seed funding from IAN

March 16, 2017 | Arti Singh

Indian Angel Network (IAN) has made an undisclosed investment in Gurgaon-based FarMart, a renting platform for farm equipment, a statement issued by the company stated.

Stayzilla’s Vasupal files bail plea; startup world rallies behind him

March 16, 2017 | Dearton Thomas Hector

Chennai-based homestay aggregator Stayzilla’s co-founder and chief executive Yogendra Vasupal, who was arrested on charges of defrauding a vendor, has filed for bail before Chennai’s Special Metropolitan Magistrate. Vasupal is currently at Chennai's Puzhal Central Prison.

Social fitness app Fitso raises $200K from former Flipkart exec, others

March 16, 2017 | Shruti Jain

Gurgaon-based Jogo Technologies Pvt.

Women-focused media startup POPxo raises $2.7 mn from GREE Ventures, others

March 16, 2017 | Binu Paul

POPxo.com, a digital publication targeted at young women, has raised $2.7 million in a Series B funding round led by Japanese venture capital firm GREE Ventures with participation from its existing investors Kalaari Capital and IDG Ventures India.

Exclusive: Virtual reality startup ShilpMIS raises angel funding

March 16, 2017 | Disha Sharma

Surat-based ShilpMIS Technologies Pvt. Ltd has raised an undisclosed amount in funding from Puneet Gupta, a digital industry veteran and angel investor, Nimitt Desai, partner at Deloitte US, and other high net worth individuals (HNIs), a top company executive told VCCircle.

Bhavin Turakhia to invest $25 mn more in enterprise messenger Flock

March 16, 2017 | Arti Singh

Billionaire Bhavin Turakhia plans to invest $25 million in enterprise team messenger app Flock to enhance product innovation and meet global demand, the company said in a statement.

PickMyLaundry acquires OneClickWash in all-cash deal

March 16, 2017 | Varun Arora

New Delhi-based PML Solutions Pvt Ltd, which runs on-demand dry cleaning and laundry services provider PickMyLaundry, has acquired subscription-based laundry and dry cleaning startup OneClickWash for an undisclosed amount in an all-cash deal.

Rewards startup m.Paani raises $1.35 mn from IDG Ventures, others

March 16, 2017 | Disha Sharma

Loyalty rewards app mPaani Solutions Pvt Ltd has raised $1.35 million in its pre-series A investment round led by IDG Ventures, Blume Ventures and Saha Fund, the company said in a statement.

Flipkart may raise $1.5 bn from Tencent and eBay

March 16, 2017 | Vijayakumar Pitchiah

Homegrown e-commerce major Flipkart is in talks to raise $1.5 billion (Rs 10,000 crore) from Chinese Internet giant Tencent and US-based online selling platform eBay, a report in a financial daily stated citing three people aware of the development.

Online business goods marketplace Tolexo shuts down retail B2B wing

March 16, 2017 | Dearton Thomas Hector

Noida-based IndiaMART InterMESH Ltd is shutting down the retail B2B wing of its online business goods marketplace Tolexo due to flagging sales and underperformance following the government's demonetisation move, Dinesh Agarwal, the company's founder and chief executive, told VCCircle. 

Franklin Templeton-backed fintech firm Deal4Loans rebrands to Wishfin, eyes M&A

March 15, 2017 | Vijayakumar Pitchiah

Lending marketplace Deal4Loans, run by Noida-based Mywish Marketplaces Pvt. Ltd, has rebranded to Wishfin as the company looks to bring loans, mutual funds and insurance products under one platform.

Exclusive: Lightbox invests more in ed-tech startup Embibe

March 15, 2017 | Disha Sharma

Indiavidual Learning Pvt. Ltd, which runs online test preparation startup Embibe, has raised fresh funding from Lightbox Ventures, an existing investor in the company.

Exclusive: Last-minute hotel booking startup RoomsTonite shuts down

March 15, 2017 | Binu Paul

RoomsTonite, a mobile app for last-minute hotel bookings, has closed down operations as funds dried up following a failed $1.5 million fundraising bid, two persons familiar with the development told VCCircle.

Big data company Infoworks raises $15 mn from Centerview Capital, Nexus

March 15, 2017 | Disha Sharma

Data warehousing company Infoworks.io Inc. has raised $15 million (Rs 98 crore) in its Series B round of investment led by Centerview Capital Technology.

Existing investor Nexus Venture Partners also took part in this round, Infoworks said in a statement.

Stayzilla co-founder Vasupal arrested on vendor's complaint

March 15, 2017 | Dearton Thomas Hector

Yogendra Vasupal, the co-founder and chief executive of Chennai-based homestay booking startup Stayzilla, has been arrested by the police on allegations of non-payment of dues by an advertising agency the company worked with.

ShopClues investors rally behind Radhika and Sanjay in battle against Sandeep Aggarwal

March 14, 2017 | Manu P Toms

ShopClues investors have rallied behind the firm’s management led by Radhika Aggarwal and Sanjay Sethi in their showdown with founder and former CEO Sandeep Aggarwal—the estranged husband of Radhika—who went public about their marital discord and accused her of stalling his re-entry into the comp

Home services startup Frapperz raises $100K in seed funding

March 14, 2017 | Binu Paul

On-demand home services provider Frapperz has raised $100,000 (Rs 66.6 lakh) in seed funding from a group of investors led by an Australia-based healthcare entrepreneur.

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