Bhubaneswar: The state government is planning to develop a salt cluster in Ganjam district of coastal Odisha. State additional secretary of Micro, Small and Medium Enterprises (MSME) Department, BB Behera, said the government will first diagnose problems of salt industries before taking any final…
Mitra Biotech raises $27.4 million in Series B funding led by Sequoia India
Mitra Biotech, a company that develops and provides novel technologies that personalise cancer treatment, has raised $27.4 million (approx Rs 183 crore) in a Series-B funding co-led by Sequoia India and Washington-based Sands Capital Ventures, and with participation from Boston-based RA Capital M…
Tightening fund flow affecting employment under startups
At a time when investors are gradually tightening their purse strings on venture capital-backed e-commerce firms and tech startups — from $2.91 billion in September quarter of 2015 to $1.52 billion in December quarter to $1.40 billion in March quarter of 2016 and to $583 million in June quarter o…
Paytm to raise $300 million, valuation pegged at $5 billion
Vijay Shekhar Sharma-led mobile wallet major Paytm is in advanced talks to raise $300 million in fresh funds. According to multiple sources, other than existing investors such as Chinese e-commerce giant Alibaba and SAIF Partners, the new round of fundraising will see participation from Singapore…
Merchant banker launches Simpal Mobile Payments startup
Simpal Mobile Payments and Information Services, a new fin-tech startup founded by former merchant banker Vineet Toshniwal, is amongst the first off the blocks to take advantage of the ambitious Unified Payments Interface platform, launched last week by the National Payments Corporation of India …
International start-up conference in Hyderabad on Sep 3-4
An international start-up conference being held here from September 3 will see 12,000 participants attending workshops and deliberating on a wide range of issues related to emerging companies. The fourth edition of the conference, ‘August Fest’, is being supported by the Telangana Gov…
Electropreneur Park by Electronics & IT Min set for launch
Government-funded Electropreneur Park, an incubation centre with focus on IP creation and product development to increase domestic manufacturing of electronics items, is scheduled for launch this week. The Electropreneur Park with funding support from Ministry of Electronics and Information Techn…
South Africa’s Net1 tops up Mobikwik wallet by $40 million
South Africa headquartered global payments solutions and transaction processing company Net1 UEPS Technologies Inc has announced a strategic partnership with digital wallet player MobiKwik. Net1 will invest $40 million in MobiKwik and will integrate its Virtual Card technology with the MobiKwik w…
Axis Bank ties up with Amazon, Visa to help startups in India
Axis Bank has partnered with internet giant Amazon’s Indian arm and also Singapore based Overseas Chinese Banking Corp’s unit to help Indian start-ups with their technology related questions. The Bengaluru based centre called Thought Factory will help Indian start-ups interact with Am…
Govt enters into mission mode, revives Small Factories Bill
The Labour Ministry has revived the Small Factories Bill two years after the first draft was unveiled, as the government enters into a mission mode to improve the ease of doing business in the country. The draft Small Factories (Regulation of Employment and Conditions of Services) Bill, 2014 was …