Taxi rental marketplace InstaCar has raised USD 1 million in seed funding from Hong Kong-based Swastika Co Limited. The investment also marks the first foreign direct investment into Madhya Pradesh’s startup ecosystem. “India currently is flooded with taxi and rickshaw aggregators within cities w…
India cottoning on to ending cotton ties with Pak
India’s $782-million worth of cotton exports to Pakistan is likely to come to a halt, with exporters keen to divert shipment to other cotton scarce countries, following talks of withdrawal of the Most Favoured Nation (MFN) status to its neighbour. India had granted MFN status to Pakistan in 1996 …
MSMEs can approach facilitation council for delayed payment
To expedite payments of vendors stuck with state-run enterprises, the Micro, Small and Medium Enterprises Ministry has told suppliers to approach its Facilitation Council to get their grievances redressed. “MSME unit can approach Micro and Small Enterprise Facilitation Council (MSEFC) in th…
41 SME IPOs raised Rs 358 cr so far this fiscal
Out of 56 initial public offering (IPOs) in the first half of the current fiscal, 41 IPOs were by Small, Medium Enterprises raising a small amount of Rs 358 crore, a PRIME Database report said. The amount mobilized through initial public offering in the first half of the current fiscal is highest…
MoU with World Bank to set up training centres for MSMEs across India: Haribhai Parthibhai Chaudhury
The Union Ministry for Micro, Small and Medium Enterprises (MSMEs) has signed a Memorandum of Understanding (MoU) with the World Bank for investing Rs 2,200 crore to set up training centres for MSME sector across India by 2017, Minister of State for MSME, Haribhai Parthibhai Chaudhury said at an …
7 SME IPOs to list on NSE
It’s raining IPOs on the SME segment of India’s bourses — the NSE and the BSE. On September 30, seven IPOs on the NSE and five on the BSE are opening for subscription. The issue sizes on the NSE range from ₹3.86 crore to ₹14.80 crore. These SMEs are based out of cities such as […]
…
G7CR launches custom solutions for SME automation
Bangalore-based start-up G7CR Technologies has announced the launch of a business enablement and automation program for SMEs. Leveraging Microsoft’s Azure cloud platform, G7CR would provide software development, migration, adaption, implementation and support for SMEs, while the client woul…
RIL may invest in mature start-ups to deploy Rs 5,000 cr fund
Early this month when Reliance Industries (RIL) Chief Mukesh Ambani announced a Rs 5,000-crore proprietary Venture Capital (VC) fund, RIL joined the growing club of conglomerates offering capital to digital start-ups. The conglomerates are offering capital for not only making financial gains, but…
Textile industry at a very important threshold: NITRA
India’s textile industry is at a very important threshold. It has a great opportunity to capture the space being vacated by the Chinese industry due to their spiraling costs. However, the isolated increase in cotton prices in India is a cause of worry, said Northern India Textile Research A…
Unocoin Technologies raises $1.5 million funds
Unocoin Technologies Pvt. Ltd raised $1.5 million in pre-Series A round of funding led by Blume Ventures, the company said. Mumbai Angels and ah! Ventures along international investors—Digital Currency Group, Boost VC, Bank to the Future and FundersClub also participated in the round. The company…