NEW DELHI, 3 June 2016: Thirty innovation-led start-ups were recognized and felicitated 3 June 2016 under the 10th year of the DST-Lockheed Martin India Innovation Growth Programme. The innovation awards were given away by Amitabh Kant, Chief Executive Officer, NITI Aayog. With the current gove…
Bihar tops in MSME registrations using UAM
More than 7.9 lakh MSMEs have registered themselves using Udyog Aadhaar Memorandum (UAM) out of which maximum are from Bihar and minimum from the north eastern states. According to the data available on the UAM website, 794,886 MSMEs have registered themselves through UAM. Out of the total units …
Alipay and Paytm go to local stores to hard sell e-wallets
Chinese payments company Alipay and Indian partner Paytm said they aim to increase adoption of digital wallets by small store owners in India and China this year. As a part of the initiative, Alipay said it is offering Paytm its technological capabilities and risk management systems to help it gr…
Uber plans major investment in India operations
Online cab aggregating platform Uber Technologies, which raised $3.5 billion on June 1st 2016 from Saudi Arabia’s Public Investment Fund, is likely to invest a substantial portion of this fund in Indian operations. This is likely to intensify the competition in the growing online taxi market in I…
Madras chamber wants state to expedite approvals
With a new government in place, Tamil Nadu industrialists hope that it will give impetus to Small and Medium Enterprises and accelerate regulatory approvals. Addressing media persons recently, SG Prabhakharan, President, Madras Chamber of Commerce and Industry, said the government should bring po…
Droom raises Rs 200 crore from a consortium of Japanese and Chinese investors
Online marketplace for used automobiles and auto services Droom has closed a Rs 200 crore funding round, a transaction that comes at a time when mid-to-late stage funding in India continues to be under severe stress. The Series B round of equity financing has been led by Singapore-based investor …
Boston’s Romulus Capital picks up Vyome Biosciences in maiden India deal
Boston-based early stage investment firm Romulus Capital has closed its maiden India deal by backing Delhi-based Vyome Biosciences, a biopharma firm which makes pharmaceutical and consumer care products for skin conditions. The investment by venture capital firm, which was founded by Krishna Gupt…
Cremica Food Industries raises Rs 100 crore from Rabo Equity Advisors
Cremica Food Industries, makers of condiments and has raised $15 million (Rs 100 crore) from Rabo Equity Advisors, investment advisors for India Agri Business Fund II. This is the first investment from the new fund focused on sectors including food services, agro chemicals and seeds, cold storage…
Fastfilmz to help users to send high quality movies without data to other users
Fastfilmz , a startup engaged in regional film streaming, has patented a technology that would help users of its mobile app to send high definition movies to their friends with close to no data usage and no Bluetooth in just about 10 seconds. It will be launched as an additional feature within 10…
Global Ocean Group continues expansion, opens three more branches in India
Mumbai, 02nd June 2016: Global Ocean Group, one of the leading pioneers in the logistics industry, announced today that it has opened new branch offices in Pune, Nagpur and Aurangabad. They have now 15 branches nationwide and opened to meet the needs of the company’s expanding client base. The of…