VCC Startups

Flipkart to add 30% workforce in 2017

March 06, 2017 | Binu Paul

Amid massive job cuts in India’s fast-growing e-commerce industry, home-grown online marketplace Flipkart is planning to ramp up its hiring efforts, a media report said.

The Times of India reported, citing unnamed sources, that the company will hire 20-30% additional workforce in 2017.

Fashion discovery platform SummerLabel raises seed funding

March 06, 2017 | Arti Singh

Gurgaon-based fashion and lifestyle discovery platform SummerLabel has raised Rs 1 crore ($150,000) in seed funding from a clutch of high net worth individuals, the company said in a press statement.

IDG Ventures and Axilor Ventures partner to fund frontier tech startups

March 06, 2017 | Vijayakumar Pitchiah

India-focused technology venture capital fund IDG Ventures India and Bangalore-based startup accelerator Axilor Ventures have come together to launch a programme to discover and fund early-stage startups in frontier tech sectors, the company said in a statement.

Cloud telephony firm Knowlarity hires former OYO Rooms exec as CTO

March 06, 2017 | Disha Sharma

Cloud telephony firm Knowlarity has appointed former OYO Rooms executive Ajay Shrivastava as its chief technology officer, a statement issued by the company stated.

Flipkart suffers yet another valuation markdown

March 03, 2017 | Binu Paul

Just when Flipkart Internet Pvt. Ltd was consolidating its position under the new CEO Kalyan Krishnamurthy, a fresh bout of valuation markdowns could prove to be a damper. More so, as the largest consumer internet company in India had experienced a tumultuous 2016.

Do Uber drivers make more than the average software developer?

March 03, 2017 | Vijayakumar Pitchiah

On Friday, Uber India head Amit Jain sought to dispel the simmering discontent among its drivers over falling earnings and shrinking incentives, but he may well have stoked the fire instead.

Sticker search app Emojifi raises angel funding

March 03, 2017 | Disha Sharma

Emojifi, an app that provides live emoji, sticker and graphics interchange format (GIF) suggestions based on the typed words across chat platforms, has raised angel funding from two Hyderabad-based unnamed angel investors, it said in a statement.

BCCL invests $1 mn in m-commerce enabler OhoShop

March 03, 2017 | Shruti Jain

Media conglomerate Bennett, Coleman and Company Ltd (BCCL) has invested Rs 6.7 crore ($1 million) in software-as-a-service (SaaS) based m-commerce enabler OhoShop mCommerce Pvt. Ltd, according to a press statement.

Exclusive: Ed-tech startup Nactus raises angel funding

March 03, 2017 | Varun Arora

Jaipur-based ed-tech startup Nactus India Services Pvt Ltd has raised an undisclosed amount from a group of angel investors, said Rohit Dusad, co-founder and CEO, Nactus.

Will never chase growth over unit economics ever again: Stayzilla’s Vasupal

March 03, 2017 | Dearton Thomas Hector

Yogendra Vasupal co-founded online homestay aggregator Stayzilla along with Sachit Sanghi in 2005. Stayzilla, operated by Chennai-based Inasra Technologies Pvt. Ltd, catered to both budget customers and luxury travellers.

Infibeam to acquire ERP solutions firm DRC Systems

March 03, 2017 | Disha Sharma

Infibeam Incorporation Ltd, the parent of online marketplace Infibeam and e-commerce enabler BuildaBazaar, is acquiring Ahmedabad-based DRC Systems Pvt. Ltd through its wholly-owned subsidiary NSI Infinium Global Pvt. Ltd.

LeEco fires 85% staff, likely to exit India

March 03, 2017 | Varun Arora

Chinese smartphone maker LeEco, which previously indicated financial strains, has fired 85% of employees in India and is likely to exit the country, according to a media report.

Alibaba to invest $177 mn in Paytm E-Commerce, hike stake to 62%

March 02, 2017 | Arti Singh

Paytm E-Commerce Pvt. Ltd, the online marketplace arm of One97 Communications Ltd, is raising $200 million (Rs 1,334 crore) in a funding round led by Alibaba Singapore E-Commerce Pvt.

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. 

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