- Meeting Of The Unicorns: Ola Turns To Hike To Offer Integrated Services Messaging and digital payments app Hike has partnered with cab aggregator Ola to integrate its ride-hailing services on the Hike platform. The integration will allow Hike users to book Ola cabs and autos directly from the Hike platform. It will also enable users to make payment via Hike Wallet. The development has come at a […]
- Flipkart Loses Appeal Against Income Tax Panel’s $17 Mn Tax Demand Income Tax panel has refused to stay the $17.2 Mn (INR 110 Cr) tax penalty on ecommerce major Flipkart on behalf of the tax assessed for FY15-16. According to IT officials, Flipkart generated a profit of $63.52 Mn (INR 408 Cr) for FY15-16, while the company originally reported a loss of $124 Mn (INR 796 […]
- Cab Aggregator, Auto Hailing Contributed 15% GBV Of Online Mobility Sector In 2017: Report The Indian online mobility market, which encompasses cab aggregator and auto hailing segments, saw a substantial growth last year. As per a recent report by RedSeer Consulting, the two categories contributed over 15% of the industry’s overall gross book value (GBV) in 2017. With Uber gearing up to relaunch its auto service, UberAuto, in Bengaluru […]
- Sequoia Capital Sells Almost 1% Of Its Stake In Just Dial For $5.4 Mn Sequoia Capital, one of the early investors in local search service Just Dial has sold almost 1% of its stake in the company through open market transactions, making an earning of around $5.4 Mn (INR 35.55 Cr). The transaction took place on November 20, 2017. On the sale day, the weighted average value of the […]
- The Best Days Of Indian Consumer Internet Are Yet To Come Consumer Internet startups, the hottest ticket in Indian startup ecosystem for the last decade, appeared to have hit a massive speed breaker in 2016. Funding slowed down drastically. In the ecommerce sector alone, funding fell to $1.94 billion in 2016 from $4.7 billion in 2015, as per data from Venture Intelligence. Many were forced to […]
- Axilor Selects 20 Startups For Fifth Accelerator Cohort – Doubles Up On Candidates For Summer 2017 Batch Early-stage venture capital firm Axilor has inducted 20 startups as part of its accelerator programme for the Summer 2017 batch. Axilor’s structured programme is for founders in the very early stages of their idea, as it comes with a host of benefits. At the end of the 100 days, most startups achieving the programme goals […]
- Micromax To Launch Orbis Capital – $100 Mn Fund For Consumer Internet Startups Indian mobile handset brand, Micromax will reportedly set up an independent fund to invest in consumer Internet companies worldwide. The fund is expected to raise up to $100 Mn (INR 680 Cr). Micromax will be the lead investor in the fund. The fund will invest in 10-12 startups with a $3 Mn-$5 Mn ticket-size. The […]
- 5 Sectors Angel Investors Should Keep A Close Watch On In 2017 2016 has been a year of many changes for the Indian entrepreneurial ecosystem. After going through a period of hyper-growth and exponential scale fuelled by big ticket investments, the industry has finally entered a phase of consolidation and maturity. This is most aptly demonstrated in the shift in investor preference from startups with high valuation […]
- Infosys To Invest $15 Mn in Stellaris Venture Fund Stellaris, a Bangalore-based venture partner firm is speculated to raise $15 Mn fund from IT company Infosys. The venture firm is aiming to raise a total corpus of $100 Mn and is in talks with other local and global investors too. It is also reaching out to wealth managers who manage money for large family […]
- 100K Users, 15Mn Monthly Streams: Here’s How Muslate Plans To Become The DeFacto Platform For Music Lovers And Composers Digital India is becoming a reality thanks to rapid Internet penetration. This has led to the growth of consumer internet space, thereby allowing entrepreneurs to identify niche areas in every sector, including music. Today, artists can work independently, both locally and globally. This independence doesn’t only give them a chance to create something ‘out of […]
- Dr. GSK Velu Sets Up Two Funds Worth $175 MN Trivitron healthcare founder and Healthcare entrepreneur, GSK Velu, has set up two investment vehicles to invest in healthcare services, consumer- led companies and enterprise technology, reports ET. The two funds have been segregated as a $100 Mn venture capital fund Stakeboat Capital and a family office with a corpus of $75 Mn. The development has […]