The annual Venture Engine event in Colombo, Sri Lanka that started as a small, local event to fund and encourage early stage companies has scaled up significantly and now attracts global investors. The 16th edition of the event held last week in Colombo attracted about 20 investors from India, US…
InnoVen Capital clocks Rs 82 crore deals in first quarter
Temasek-owned InnoVen Capital has struck deals worth Rs 82 crore in the first quarter of the current fiscal, as the venture debt firm looks to make deeper inroads into Asia’s third-largest economy and rapidly-maturing startup ecosystem. InnoVen Capital, which is also backed by Singaporean m…
Mumbai-based firm SpectraVR raises undisclosed amount as seed funding
Mumbai-based virtual reality content studio SpectraVR has raised an undisclosed amount as seed funding from US-based technology venture capital firm Rothenberg Ventures for its expansion plans. The startup specialises in producing high-end, 360-degree videos and animated interactive virtual reali…
Women entrepreneurs can play greater role in defence production: FLO President
Women entrepreneurs and corporate houses can play a greater role in India’s defence production, the Ficci Ladies Organisation (FLO) said here on July 4. “FLO welcomes recent steps taken by the government to promote participation of private sector in indigenous defence productions and …
1mg acquires Medd to boost diagnostics image
Taking a step further in its aggressive growth plans, Sequoia Capital backed online pharmacy 1mg on July 4 announced that it has acquired Medd, a marketplace for booking diagnostic and imaging tests. 1mg did not divulge the deal size and structure. “Diagnostics is a huge opportunity within …
Mukesh Bansal’s new startup ‘CureFit’ bags $15 million funding
Mukesh Bansal, the Co-Founder of fashion portal Myntra, has snagged funding for his new startup — CureFit — from a group of marque investors, who backed his maiden venture and have now stepped up to close one of the largest seed investment rounds in the Indian startup sector this year. Accel Part…
DIPP to organise startup festival in Hyderabad in September
The Commerce and Industry Ministry will organise a ‘Startup Fest’ in Hyderabad in September, with a view to showcase innovation and provide a collaboration platform. The Department of Industrial Policy and Promotion (DIPP) has requested Prime Minister Narendra Modi to inaugurate the p…
Companies get more leeway in taking deposits with revised norms
Government has tweaked the rules governing acceptance of deposits by companies, a move that provides more flexibility for startups in garnering funds. Besides, entities have been given more time to have deposit insurance in place. The latest amendments to certain rules under the Companies Act is …
Product and process quality key to increase in reach and exports
Micro, Small and Medium Enterprises (MSMEs) operating in the manufacturing and services sectors stand to gain significantly from quality products and processes. And as they focus more on quality, they see an increase in reach and customer confidence. Product and process quality key to increase in…
NeoGrowth gets Rs 108 crore funding from IIFL Wealth Management
NeoGrowth Credit, a specialised lender to small and medium sized retailers, has raised Rs 108 crore in a new round of funding from IIFL Wealth Management’s Seed Venture Fund besides existing investors, which include Omidyar Network, Khosla Impact and Aspada. The development comes as investo…