VCC Startups

Three senior execs step down from Urban Ladder

February 21, 2017 | Binu Paul

Three senior employees have resigned from furniture e-tailer Urban Ladder since October last year, marking yet another episode of top-level attrition at the country's e-commerce firms.  

Exclusive: Massive job cuts loom large at Yepme as funds dry up

February 21, 2017 | Dearton Thomas Hector

Delhi-based VAS Data Services Pvt. Ltd, which operates fashion e-commerce firm Yepme.com, is going through trying times with the company looking to reduce headcount by 80-90% and forcing entire teams to resign.

Now, government to take on VC-backed wallet startups with 'cashback' for BHIM app

February 21, 2017 | Oineetom Ojah

The government will soon announce a cashback scheme for users of the Bharat Interface for Money (BHIM) app in a bid to boost digital transactions, NITI Aayog CEO Amitabh Kant has said.

We went through near-death experience many times, says Nutanix founder

February 21, 2017 | Manu P Toms

Though Dheeraj Pandey is fairly well known and connected among the who's who of the tech industry, he hit headlines in his home country only late last year.

Uber users can now pay for rides using Jio Money

February 20, 2017 | Varun Arora

The Indian unit of US ride-hailing company Uber Technologies Inc. has tied up with Reliance Jio Infocomm Ltd to allow passengers to pay via the digital wallet of the billionaire Mukesh Ambani-led firm.

Photo-sharing app Vebbler selected for FbStart

February 20, 2017 | Disha Sharma

Photo-sharing app Vebbler, which is run by Vebbler Technologies Pvt. Ltd, has been selected by social media giant Facebook for its FbStart programme, the startup said in a statement.

Exclusive: IAN makes first close of maiden venture fund

February 20, 2017 | Disha Sharma

Indian Angel Network's eponymous IAN Fund has marked its first close, receiving commitment from investors within the network as well as high-net-worth individuals (HNIs) overseas, two people familiar with the development told News Corp VCCircle. 

Zoomcar co-founder David Back to drive strategy at Idein Ventures

February 20, 2017 | Binu Paul

Early-stage venture capital firm Idein Ventures has hired David Back, co-founder of self-drive car rental startup Zoomcar, as entrepreneur-in-residence.

Xiaomi India head Manu Jain has Barra boots to fill as global VP

February 18, 2017 | Arti Singh

Xiaomi Inc. has elevated India head Manu Kumar Jain as global vice president at a time when the Chinese handset maker is in the middle of a purple patch in the country, emerging as the second-largest smartphone seller.

Reliance Capital looking to sell its 1% stake in Paytm for $50-60 mn

February 18, 2017 | Arti Singh

Anil Ambani-controlled Reliance Capital Ltd is reportedly in talks to sell its 1% stake in digital payments firm Paytm as it looks to trim its proprietary investment portfolio and monetise non-core assets.

Microsoft's India cloud plans get booster shot as Flipkart signs up

February 20, 2017 | Manu P Toms

Global technology leader Microsoft and India's top e-commerce firm Flipkart have announced a broad collaboration under which, as a first step, the latter will use Microsoft Azure as its exclusive public cloud platform.

IDG, Accion invest more in CreditMantri

February 20, 2017 | Dearton Thomas Hector

Chennai-based online credit management startup CreditMantri Finserve Pvt. Ltd has raised Rs 51.4 crore ($7.6 million) in Series B funding from new and existing investors, it said in a statement.

Former Nirula's CEO to lead Zomato's cloud-based PoS business

February 20, 2017 | Varun Arora

Restaurant listings and discovery company Zomato Media Pvt. Ltd has appointed Samir Kuckreja, former chief executive of QSR chain Nirula’s Corner House, as president of its cloud-based point-of-sale (PoS) system, Zomato Base.

Paytm bets $89 mn on QR code payment system

February 20, 2017 | Arti Singh

Digital wallet firm Paytm, operated by One97 Communications Ltd, plans to invest Rs 600 crore ($89 million) to develop a QR code-based payments solution, several media reports stated.

True Balance raises $15 mn from SoftBank Ventures Korea, others

February 20, 2017 | Disha Sharma

Gurgaon-based startup True Balance, an app that allows users to check their mobile phone balance, has raised Rs 100 crore ($15 million) in a Series B round led by existing investor SoftBank Ventures Korea, part of Japanese Internet conglomerate SoftBank Group Corp, and IMM Investment Group.

Why a potential Snapdeal-Paytm merger makes perfect sense

February 18, 2017 | Arti Singh

Will they? Won't they? Rumours come and go, but those around India's third-largest e-commerce company Snapdeal's merger refuse to die down, even though the suitors keep changing. 

Booking.com launches accelerator programme for startups in sustainable tourism

February 17, 2017 | Shruti Jain

Accommodation booking website Booking.com has launched a new accelerator initiative, the Booking Booster Programme, for startups in the tourism segment.

Chinese brands now account for 1 in 2 smartphones sold in India

February 17, 2017 | Keshav Sunkara

Chinese smartphone vendors, which have been gaining prominence in India thanks to a bevy of aggressively-priced models, continued to wrest market share from home-grown players and multinational manufacturers in the October-December quarter.

Apple to start India manufacturing soon with iPhone SE

February 17, 2017 | Varun Arora

Apple India Pvt. Ltd, the local arm of Cupertino-based Apple Inc., will soon start assembling iPhones in India at a plant in Bangalore being set up by its Taiwanese manufacturing partner Wistron Corp, a financial daily reported on Friday.

Is Flipkart clawing back in the game against Amazon?

February 17, 2017 | Binu Paul

In early signs of a reversal in fortunes, Flipkart has outrun rival Amazon India in gross sales in two consecutive months, after trouncing the US-based ecommerce company with its Big Billion Day sales in October. The Indian ecommerce giant recently witnessed a top-level management rejig.

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