VCC Startups

Snapdeal disbands SD Instant team in cost-cutting drive

February 13, 2017 | Disha Sharma

After reports of Snapdeal laying off nearly 30% of its staff, co-founders Kunal Bahl and Rohit Bansal have sent out an e-mail to the e-commerce firm’s employees stating that the company has to take tough decisions in order to become profitable, a report in a national daily stated.

Jugnoo starts cab-hailing biz as Ola, Uber drivers go on strike

February 13, 2017 | Shruti Jain

SoCoMo Technologies Pvt. Ltd, which runs on-demand delivery services startup and auto rickshaw aggregator Jugnoo, has announced its entry into the taxi aggregation business at a time when key players in the segment are facing drivers’ ire over diminishing incentives and low earnings.

OMA Emirates buys mobile payments firm MobiSwipe

February 13, 2017 | Arti Singh

United Arab Emirates-based payments solutions provider OMA Emirates has acquired Mumbai-based MobiSwipe Technologies Pvt. Ltd for an undisclosed sum as it looks to broaden its overall portfolio in the Middle East, Eastern Europe and APAC regions, the company said in a statement on Monday. 

Vertex Ventures, others invest in industrial IoT firm Flutura

February 13, 2017 | Varun Arora

Bengaluru-based industrial internet of things (IIoT) startup Flutura Decision Sciences and Analytics, run by Flutura Business Solutions Pvt. Ltd, has raised $7.5 million (around Rs 50.2 crore) in funding led by Vertex Ventures.

Accel, IDG Ventures, others back med-tech startup SigTuple

February 13, 2017 | Binu Paul

Medical-technology startup SigTuple Technologies Pvt. Ltd has raised $5.8 million (around Rs 38.8 crore) in a Series A funding round led by Accel Partners with participation from IDG Ventures, Endiya Partners, pi Ventures, VH Capital and Axilor Partners.

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