In its first investment in India, Japanese seed-stage investors Incubate Fund has led a bridge round in business-to-business FMCG platform, ShopKirana. The amount of investment is estimated to be between Rs 2 crore and Rs 3 crore, according to people aware of the deal. The Indore based startup he…
Digital India: Cabinet okays ordinance to modify the way workers are paid
In a move to promote cashless transaction, the Narendra Modi government decided to bring in an ordinance to amend the Payment of Wages Act for allowing business and industrial establishments to pay salaries through cheques or electronically. According to a report, employers will also have the opt…
Gujarat gets ready to be defence hub, to provide cash subsidy to MSMEs
Aiming to encourage development of aerospace and defence industry in the state, Gujarat government on December 21 announced an investor-friendly Aerospace and Defence Policy 2016. The new policy offers incentives and tax sops with regard to land allotment, stamp duty, registration charges and ele…
Bharti AXA planning to launch products focussed on women in SMEs
Private sector general insurer, Bharti AXA General Insurance (BAGI) is planning to launch products focussed on women in Small and Medium Enterprises (SMEs), a top company official said. “At Bharti AXA General Insurance, we are planning to launch products which will be focussed on women in S…
Govt revises guidelines of International Cooperation Scheme
Government has further revised guidelines of the International Cooperation Scheme, which were last modified in June, and permitted Ministry of MSME or organisations under it to seek financial assistance to hold global exhibitions, seminars and workshops in India. For international conferences or …
Food processing sector gets 5.5k new entrepreneurs across 23 states
Entrepreneurship Development Institute of India (EDII), an acknowledged national resource Institute for Entrepreneurship Education, Research, Training and Institution Building, has created 5,500 entrepreneurs in the food processing sector across 23 states. Through its Entrepreneurship Development…
Start-up TeamIndus, Japan’s Hakuto combine for Moon mission
TeamIndus is happy to announce a commercial agreement to carry a robotic rover developed by HAKUTO, the Japanese team in the Google Lunar XPRIZE, to the Moon aboard TeamIndus’ spacecraft in late 2017. This is a first of kind collaboration of two private space enterprises competing in the Google L…
How India’s top start-ups are expected to perform in 2017
2016 was a year of rationalisation for Indian startup sector as most big investors spent cautiously unlike in 2014 and 2015 when it saw a new high in terms of irrational investments. In 2016, companies in sectors such as food-tech and hyperlocal logistics who were sustaining operations on externa…
The Chennai Angels invests in Evegetailing
Coimbatore: The Chennai Angels (TCA), one of the most active angel investing groups in the country, has announced a seed investment of Rs 1.1 crore in Evegetailing, a Chennai-based startup engaged in selling farm fresh vegetables procured directly from farmers land delivered to customers with its…
Discount app BlueBook raises funds in seed round
BlueBook, a discount and deals app, said it has raised $500,000 in a seed round led by Indian Angel Network (IAN). LetsVenture, a start-ups investment and discovery platform, and independent investors from Singapore and the US also participated in the round. IAN member Avinash Vashishta, who serv…