Japanese internet and telecom giant SoftBank’s $100-billion Vision Fund will make public market investments in India, a first for the deep-pocketed group, which drove up the euphoria around the local consumer internet ecosystem, people familiar with the matter told. SoftBank’s Vision …
Textile mills pin hopes on fourth quarter
Textile mills are pinning their hopes on the fourth quarter to ride over the third quarter impact of demonetisation. For this, industry is banking on the textile ministry’s move to allow mills to pay only 10 per cent of procurement money that has come as a breather. According to industry, t…
TempoGO raises $825k in seed round
TempoGO, an Internet of Things (IoT) and SaaS solution for commercial transportation, has raised USD 825,000 in seed funding led by K2 Capital of Hong Kong. Over the last 12 months, the TempoGO solution has been used or over 1,800 inter-city trips in India covering 6.5 lakh kms for 300 clients in…
MSME-DI Agra to organise National Vendor Development Programme to promote self-employment
Mathura: In order to attract unemployed youth towards self employment, MSME (Ministry of Micro, Small & Medium Enterprises) Development Institute, Agra is organising two day National Vendor Development Programme (NVDP) cum Industrial Exhibition from January 7. “The purpose of the exhibi…
Nepal wants India to roll back duty on imported jute products
The heavily export-dependent jute mill industry in Nepal wants India to withdraw the recently imposed countervailing duty (CVD) of 12.5% on sacking bags and hessian cloth imports. Both the country’s Foreign Trade Association and Nepal Jute Mills Association (NJMA) say the duty goes against the sp…
Freshdesk buys data integration firm Pipemonk
Freshdesk, a cloud-based customer engagement software provider, has acquired Pipemonk, a data integration platform that allows companies to synchronise and move data among multiple cloud apps, for an undisclosed amount. This is Freshdesk’s seventh acquisition in 16 months. The deal expected to he…
Start-ups serve India’s defence & profitably
Bengaluru: Last January, when Pathankot district in Punjab came under crossborder firing, the Indian army depended heavily on unmanned aerial vehicles (UAVs). The soldiers used them for border surveillance. Those UAVs were built by IdeaForge, a 100-people, Mumbai-based venture that was started in…
Logistics start-ups get FASTags to tackle cash crunch
Long-haul logistics start-ups like Rivigo and Truckola are installing FASTags on their fleet to enable automatic online payments at toll plazas, after the government’s move to demonetise high-value currency affected cash transactions and crippled movement at border check posts. FASTags are radio …
Fashion e-Commerce portal Fynd raises funding from investors
Fashion e-commerce portal Fynd has clinched an undisclosed amount of funding from Facebook executive Anand Chandrasekaran, Arvind Sports Lifestyle CEO Rajiv Mehta and Livspace Co-Founder Ramakant Sharma. Fynd optimises delivery time for online shoppers by sourcing products from the outlets neares…
PM’s new steps extremely positive for economy: ASSOCHAM
The Associated Chambers of Commerce & Industry of India (ASSOCHAM) said that the steps announced by Prime Minister Narendra Modi in his address to the nation on New Year’s Eve are extremely positive for the Indian economy. The apex industry body also said that the focus should now be on effec…