Naspers-owned online payments platform, PayU is leading a financing round in consumer lending startup ZestMoney, people familiar with the development told. The $3.7 million fund raise will give PayU a 20% stake in ZestMoney and see existing investors Ribbit Capital and Omidyar Network also partic…
Nvidia launches AI start-up program in India
Nvidia has launched the Nvidia Inception program in India, in recognition of the country’s potential for artificial intelligence innovation. Inception is a virtual incubator program to support startups with ideas in AI. Members will receive a custom set of benefits, from hardware grants and marke…
Vini founder backs feminine hygiene start-up
Darshan Patel, Founder of Paras Pharma and Vini Cosmetics, has scooped up a major strategic stake in Soothe Healthcare, a feminine hygiene startup that manufactures sanitary napkins and diapers under the brand Paree, people directly familiar with the matter said.The investment deal, which is stru…
Goa Chief Minister’s start-up challenge to encourage entrepreneurship in IT sector
Keen to encourage entrepreneurship and create viable employment opportunities in the IT sector, Economic Development Corporation (EDC) Limited along with Goa State Innovation Council (GSIC), announced the second edition of the Chief Minister’s startup challenge. “The top 10 start-ups …
Nalco to provide hand-holding support to MSME vendors
Navratna PSU Nalco is ready to provide hand-holding support to its regular MSME vendors who ensure quality and timely delivery of products, the aluminium major’s CMD T K Chand said. As a responsible large-scale industry, Nalco shall make efforts to publicise select MSME brands, along with i…
E-retail, allied sectors to create 1.45 mn jobs by 2021: Report
India’s e-retail and allied sectors including logistics, warehousing and IT/ITeS are expected to create about 1.45 million direct jobs by 2021, a joint report by Snapdeal and KPMG said. Logistics and warehousing sector is expected to be the largest contributor creating direct employment opportuni…
New India Assurance to focus on SME, retail segments: CMD
New India Assurance will focus on the largely untapped retail, SME and personal line segments, its Chairman and Managing Director G Srinivasan said. Speaking on the sidelines of an event in Coimbatore, he told that there were over 48 million small and medium enterprises (SMEs) in the country and …
Healthcare start-up Core Diagnostics raises Rs. 81 cr from investors
Core Diagnostics, a healthcare start-up, said that venture capital firms Eight Roads Ventures and F-Prime Capital Partners would invest $12 million (Rs 81 crore) in the company. Existing investor Artiman Ventures is also participating in this funding round. Founded in 2012, Core provides diagnost…
Demonetisation Effect | Indian e-Commerce growth projection cut to 55.5% for 2016
Four months after forecasting a 75% increase in Indian e-commerce in calendar year 2016, eMarketer, a US-based market research firm, on December 6 cut its projection to 55.5%, or around $16 billion, citing the impact of demonetisation on order volumes. While orders will recover in the long run fr…
Demonetisation Effect | E-wallets making hay while digital lending start-ups feel the heat
The rapid embrace of digital payments following the crackdown on cash transactions is set to greatly benefit an allied industry: alternative lending startups. Digital payment companies such as Paytm have emerged the immediate winners post the government’s decision to scrap high-value banknotes an…