TECHNOLOGY

Messaging app Snap set for stock market debut after raising $3.4 bn in IPO

March 02, 2017 | Reuters

Snap Inc's in-demand shares are set to start trading in New York on Thursday after the owner of the popular Snapchat messaging app raised $3.4 billion in its initial public offering (IPO) on Wednesday, above its price expectations.

Rural India to drive next phase of growth in internet usage: IMAI-IMRB report

March 02, 2017 | Shruti Jain

Despite a moderation of growth in urban internet usage, the number of Indian users will cross 450 million by June, says a report, Internet in India 2016, jointly published by Internet and Mobile Association of India and Indian Market Research Bureau.

Exclusive: HR solutions platform Tydy raises $275K from angel investors

March 02, 2017 | Binu Paul

Bangalore-based employee onboarding and engagement platform Tydy has raised $275,000 in angel investment from a group of individuals, including existing investor Bhupen Shah, former co-founder of Sling Media.

Exclusive: Chandigarh Angels Network backs social enterprise LetsEndorse

March 02, 2017 | Varun Arora

Bangalore-based LetsEndorse Development Pvt. Ltd, which runs online network for social causes LetsEndorse, has raised an undisclosed amount from Chandigarh Angels Network, Tata Trusts-backed Social Alpha and other unnamed angel investors.

Sequoia-backed KredX acquires New York-based Hummingbill

March 02, 2017 | Dearton Thomas Hector

Bangalore-based Minions Ventures Pvt. Ltd, which runs invoice discounting platform KredX, has acquired New York-headquartered accounts receivable software startup Hummingbill for an undisclosed sum, the company said in a press statement on Thursday.

MakeMyTrip-SAIF Partners is exit of the year: VCCircle Awards

March 02, 2017 | Arti Singh

Venture capital and growth equity investment firm SAIF Partners has won the News Corp VCCircle exit of the year award for its wonderfully-engineered exit from NASDAQ-listed MakeMyTrip Ltd, wherein it pocketed more than 16 times the money it invested in stages, underlining the importance of patien

Practo is consumer internet company of the year: VCCircle Awards

March 02, 2017 | Dearton Thomas Hector

Online healthcare platform Practo Technologies Pvt. Ltd has bagged the News Corp VCCircle consumer internet company of the year award for a disruptive business model that has gone beyond its consumer play into the enterprise space. 

Simplilearn is education company of the year: VCCircle Awards

March 02, 2017 | Manu P Toms

Ed-tech firm Simplilearn Solutions Pvt. Ltd has won the News Corp VCCircle education company of the year award for 2017 for the business innovation it has demonstrated and the progress it has made on the global expansion front. 

Scalability, innovation & digitisation to define entrepreneurship: CII-KPMG report

March 01, 2017 | Shruti Jain

Changing customer preferences, digitisation and competition are pushing entrepreneurs to innovate on a dynamic basis, a report by CII-KPMG titled Entrepreneurship, growth, and opportunities – 2017 has said.

E-commerce solutions provider Kreate Konnect raises seed investment

March 01, 2017 | Disha Sharma

Kreate Konnect, which manages operations for e-commerce companies, has raised an undisclosed amount of investment from advertising agency Langoor, one of the company’s co-founders told VCCircle.

Lending startup RedCarpet raises $2.5 mn from Lightspeed

March 01, 2017 | Shruti Jain

Gurgaon-based micro-lending startup RedCarpet Tech Pvt Ltd has secured $2.5 million (Rs 16 crores) in a funding round led by venture capital firm Lightspeed Venture Partners, according to a financial daily.

Ideaspring makes maiden investment in packaging software startup Karomi

March 01, 2017 | Binu Paul

Marking its first investment, early-stage venture fund Ideaspring Capital has put in a little over $500,000 (Rs 3.5 crore) in Chennai-based Karomi Technology Pvt. Ltd, which runs Karomi, a tech startup in the packaging artwork management space.

Exclusive: Makaan co-founder launches workspace aggregator The Office Pass

March 01, 2017 | Disha Sharma

Aditya Verma, co-founder of real estate company Makaan.com, is starting up again. This time, he is launching a co-working firm called The Office Pass.

Ankit Nagori and Mukesh Bansal’s CureFit acquires Kristys Kitchen

March 01, 2017 | Disha Sharma

Healthcare platform CureFit has acquired Bengaluru-based premium online food delivery startup  Kristys Kitchen in a cash and equity deal, the company said in a statement today. 

Exclusive: Sistema Asia Fund investing in Bangalore-based startup

March 01, 2017 | Arti Singh

Sistema Asia Fund, a $50 million venture capital fund floated by Russian conglomerate Sistema JSFC last year, has made its fourth investment in India, a person aware of the development told VCCircle.

Hiring startup Belong.co ropes in former Groupon top exec

March 01, 2017 | Shruti Jain

NASDAQ-listed deals aggregator Groupon Inc’s chief operating officer Bharath Devanathan has joined Bangalore-based recruitment solutions startup Belong.co as chief customer officer, his LinkedIn profile shows.

Morgan Stanley slashes Flipkart valuation to $5.39 bn

February 28, 2017 | Binu Paul

Indian e-commerce firm Flipkart has suffered its second markdown in as many months with a mutual fund managed by Morgan Stanley slashing the value of its stake in the company by 3%.

Exclusive: Agri-tech startup Paalak.in raises seed funding

February 28, 2017 | Binu Paul

Delhi-based VDSS Agri Tech Pvt. Ltd, which owns and operates agri-tech startup Paalak.in, has raised an undisclosed amount in seed funding from a clutch of angel investors as it looks to expand and strengthen its IT infrastructure. 

Hotel solutions provider Hostmaker raises $6.5 mn from Ventech, others

February 28, 2017 | Disha Sharma

Hospitality management services startup Hostmaker.co has secured $6.5 million (Rs 43.37 crore) in Series A funding led by Paris-based venture capital fund Ventech and existing investor DN Capital, the company said in a press statement.

ShopClues appoints former Zopper, Reliance execs to lead marketing, HR

February 28, 2017 | Disha Sharma

E-commerce firm ShopClues has appointed Zopper executive Harneet Singh as vice president of marketing and Reliance executive Babu Vittal as head of human resources, a statement issued by the firm said.

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