An EdTech Startup VoLT has raised an undisclosed amount of seed funding from YMS Mobitech, a tech-based distribution company. VoLT (Vocabulary Learning Technique), a product of Edutainment Spearheads, simplifies vocabulary learning process using Creative Teaching Methodologies, ‘Law of Associatio…
Dubai-based Cocoon Ventures to invest $20 mn in Indian start-ups
Dubai-based venture fund Cocoon Ventures is planning to invest around $20 million in Indian startups in the areas of IoT (internet-of-things), robotics, and agriculture. The year-old fund, which is a consortium of 25 high profile Gulf Arabs, is also collaborating with US and Turkey-based accelera…
Currency Switch Impact | TechProcess & NumberMall to bring cashless payments to kirana shops
TechProcess Payment Services, an electronic payments company, said on November 21 that it has partnered with NumberMall, an app-based payments platform for small merchants, which will enable 30,000 kirana shops to accept cashless payments. NumberMall connects the kirana shops to manufacturers and…
Currency Switch Impact | RBI gives small borrowers 60 extra days to repay credit
The Reserve Bank of India (RBI) on November 21 said small borrowers, who have been facing the brunt of demonetisation, would get an additional 60 days to repay their credit, including agriculture and housing loans. Borrowers with loans up to Rs 1 crore from banks and finance companies would be el…
Currency Switch Impact | New entrepreneurs dominate small hydrocarbon fields auction
India received bids for about 34 of the 46 small oil and gas blocks offered in an auction that ended on November 21, mostly from local private companies, many of them new entities venturing into the hydrocarbon industry under a liberal contractual regime that the government offered to woo investm…
Analystic start-up Vymo raises $5 mn from Sequoia India
Vymo, a Bengaluru-based predictive sales analytics start-up, said it has raised $5 million in a series A round of fundraising from the venture capital firm Sequoia India. The start-up will use this funding to deepen its research and development (R&D) initiatives and expand its presence in int…
Online home services start-ups create a new generation of entrepreneurs
Mumbai: For Priya Rakesh Sanath, there was little time left after 12-hour workdays. Or money. For two-and-a-half years, the 26-year-old toiled at a beauty parlour in the Mumbai suburb of Goregaon, working six days a week to earn Rs5,000-6,000 a month. There were no Diwali holidays or time to cele…
Currency Switch Impact | SME sector to benefit as banks will lend more
The government has managed to cut down the transportation time of cash from printing to the main distribution centres from 21 days to six and is using all modes of transport, including helicopters and Indian Air Force planes, to move the cash quickly. The government is hopeful that the situation …
Currency Switch Impact| PM’s move will infuse a seismic shift in adoption of e-payments
On November 8th, Prime Minister Narendra Modi announced that, effective from 12 am on the 9th, all currency of Rs 500 and Rs 1,000 denominations would no longer be considered as legal tender. The will instead be circulating new Rs 500 and Rs 2000 notes. The PM made an impassioned appeal to citi…
Currency Switch Impact | Despite demonetisation boost for digital payments, investors wary of fintech firms
The government’s demonetisation scheme is expected to drive up digital transactions and could also boost fintech. Surprisingly, though, investors don’t seem to be warming up to the idea. Data from Tracxn Technologies shows funding in the fintech space has dropped by 60.84% in 2016 so far. Just $4…