Making a strong case for providing medium & small manufacturers and exporters with cheaper credit, Commerce and Industry Minister Nirmala Sitharaman on August 24 pitched for a cut in the repo rate by as much as 200 basis points to help the cash-starved Micro, Small and Medium Enterprises (MSM…
RCom launches cloud service for seamless connectivity to enterprises
Reliance Communications and its subsidiary Global Cloud Xchange (GCX) on August 24 launched a cloud-centric service called Cloud X WAN. Cloud X WAN is suited for India as it offers seamless connectivity and double bandwidth at existing price points, RCom said. Cloud X WAN will provide cloud-based…
Crowdfunding platform FuelADream goes beyond funding to scale ideas
A Bengaluru-based crowd-funding platform, FuelADream, is trying to help founders with brilliant ideas to raise funds and also scale up their business. Many companies from across the country such as Spero Bikes, a Coimbatore-based electric bike manufacturer, Tiffy Template, a Bengaluru-based trust…
Flipkart, Paytm fund $1 mn to Unacademy
Online learning platform Unacademy has raised $1 million in funding led by Blume Ventures, while entrepreneurs such as Flipkart Co-Founders Sachin and Binny Bansal, Paytm’s Vijay Shekhar Sharma and Freecharge’s Kunal Shah also participated in the round. This is the second round of institutional f…
Large companies open purse for start-ups
The participation of large Indian corporate’s in providing financial backing to startups is growing, and while only firms such as Infosys and Wipro have set up dedicated startup funds, others are tracking disruptive technologies in their own sectors with clearance from their boards to sink …
Ford Smart leads $24-million in Zoomcar funding
Ford Smart Mobility, a subsidiary of US automaker Ford which was spun off in March this year to focus on advancing transportation technologies, has made its first investment in India through self-drive car rental service Zoomcar. Ford led a $24-million investment in Zoomcar, which was announced o…
NephroPlus raises Rs. 100 cr from SeaLink capital partners and International Finance Corporation
NephroPlus, India’s largest dialysis service provider network, August 24 announced that it has raised Rs.100 Crores in Series C funding led by SeaLink Capital Partners (SCP) and International Finance Corporation (IFC, a member of the World Bank Group). Heramb Hajarnavis, Managing Partner, SeaLink…
Germany contributes 22.6 cr for skill development in India
India and Germany are deepening their collaboration in the area of skill development. An implementation agreement was signed between the Ministry of Skill Development and Entrepreneurship (MSDE) and German International Cooperation (GIZ), to initiate a new project focused on adapting elements of …
Microsoft buys artificial intelligence startup Genee
Software giant Microsoft has bought a smart scheduling app Genee, as part of its effort to embed Artificial Intelligence (AI) to compete with the likes of Google Now and Apple. The start-up, which was founded in 2014, will shut down its service on September 1. The financial terms of the deal were…
In a first, FullContact buys startup village firm Profoundis
FullContact, a US-based provider of contact management platform, announced the acquisition of Profoundis, a Startup Village (SV)-based provider of technology enabled human verified data research platform. This is the first-of-its-kind acquisition in Kerala’s start-up community. FullContact’s purc…