VCC Startups

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.

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

March 16, 2017 | Binu Paul, 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.

YourNest names Revvx's Satish Mugulavalli as director of technology

March 15, 2017 | Arti Singh

Early stage venture capital firm YourNest has appointed Satish Mugulavalli as director of technology, it said in a statement. 

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.

Are startups and investors doing enough to check sexual harassment?

March 15, 2017 | Disha Sharma, Shruti Jain & Maulik Vyas

Early this week, several women alleged sexual harassment by Arunabh Kumar, founder and chief executive of digital entertainment channel The Viral Fever (TVF).

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

March 15, 2017 | Disha Sharma

Data warehousing company 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.

Facebook selects dating app Matchbox for FbStart programme

March 14, 2017 | Shruti Jain

Dating app Matchbox has been selected by social media giant Facebook Inc. for its early-stage startup mentorship programme FbStart, under the Bootstrap track, the company said in a statement.

Tech accessories e-tailer raises $3.3 mn from Ashish Dhawan, Mathew Cyriac and others

March 14, 2017 | Arti Singh

Hyderabad-based Palred Technologies Ltd (formerly Four Soft Limited) has raised about Rs 22 crore ($3.34 million) in its latest round from both new and existing investors, the company said in a statement.

Exclusive: Flipkart appoints commerce platform finance head as CFO

March 14, 2017 | Vijayakumar Pitchiah

Homegrown e-commerce major Flipkart has elevated Sriram Venkataraman, the chief financial officer of its commerce platform as the company’s finance chief.

Uber founder, India head named in notice alleging bribery after road mishap

March 14, 2017 | Maulik Vyas

A Mumbai woman has sent a legal notice to the founder and India head of Uber Technologies Inc after a cab operated by the taxi-hailing firm hit her husband and left him comatose.



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