Global logistics service provider Aramex has invested in last mile mobile-based companies Grab.in and Logisure to strengthen its last-mile delivery service in the ecommerce segment in India. The company has committed to invest Rs 20 crore in Zomato backed last-mile delivery company Grab a Grub, w…
Race to acquire fashion portal Jabong hots up
The race to acquire Jabong is hotting up. Alibaba, Future Group, Flipkart’s unit Myntra and Aditya Birla’s e-commerce venture Abof are among those in negotiations to acquire the online fashion portal, said people with knowledge of the matter. Even Snapdeal is said to be in the fray, b…
P2P players bank on institutional lenders for growth
I-lend has stitched a partnership with Hyderabad-based non-banking finance company Star Finserve, becoming the first peer-toper online lending platform to join hands with an institutional lender while several other players including MicroGraam, Faircent and LenDenClub are in talks for similar pac…
Start-Up Innefu Labs finds desi success, eyes foreign foray
The vibrant startup ecosystem in the country has witnessed the inception of companies focused on various segments of the technology domain, but the area of cyber security has seen far and few between. Innefu Labs, a cyber security startup founded by two college batchmates—Tarun Wig and Abhishek S…
Gujarat govt to organise separate ‘vibrant summit’ for MSMEs
Gujarat Chief Minister Anandiben Patel said a separate ‘Vibrant Gujarat Global Summit’ for Micro, Small and Medium Enterprises (MSMEs) would be organised to attract investment in the sector. The announcement of organising such an event, which will be on the pattern of biennial ‘…
KITCO’s start-up incubator to extend its reach
Public-sector engineering consultancy organisation KITCO is extending the reach of its ambitious incubation programme — myenterprise — to working professionals to encourage them to join the growing Indian start-up bandwagon. The company’s new initiative is unique in its form and content as it act…
IFC to invest Rs 134 crore in future consumer enterprise
Future Consumer Enterprise Limited (FCEL) July 2, 2016 said it would raise Rs 134 crore from the World Bank’s investment arm International Finance Corporation (IFC). FCEL, a part of Kishore-Biyani’s Future group, has entered into an agreement with IFC and as part of that it would issu…
Mauritius’ Mandala capital to acquire majority stake in EFRAC
Mauritius-based PE firm Mandala Capital has invested $10 million (approximately Rs 67 crore) in an integrated food testing lab start-up in Kolkata EFRAC founded by a clutch of city-based angel investors. The PE firm has agreed to commit another $10 million into the startup after three years provi…
IKP to start incubation centres to fuel science-led innovations
The US Agency for International Development (USAID) and IKP Knowledge Park July 2, 2016 launched the first Call for Proposals under the ‘Agriculture for Nutrition Grand Challenge’. It is part of the USAID-supported Feed the Future India Innovations for Improved Nutrition” program, implemented by …
Textiles, apparel exports likely to touch $50 bn in FY17
Helped by the government’s special package and marketing plans, India’s textiles and apparel exports are expected to touch $50 billion mark this fiscal from $38 billion in FY16, a senior official said July 2, 2016. The Union Cabinet last week approved a Rs 6,000-crore package for the …