Fin-tech company MobiKwik said it will offer 6 per cent annual interest on the account balance to its mobile wallet users. The company, which competes with Alibaba-backed Paytm, has over 30 million wallet users in the country. MobiKwik claims it is growing at 250 per cent per year and expects to …
‘Google Tax’ to impact start-ups
The equalisation levy or popularly known as ‘Google tax’ which came into effect from June 1 is set to have an impact on the operations of Indian start-ups with higher financial burden and administrative overload. Start-ups which are highly dependent on online platforms like Google, Facebook, Twit…
LinkedIn sets sights on Indian start-ups
US-based social networking company LinkedIn is looking at buying Indian start-ups, has tweaked its India portal and with its new 800 seater office in Bengaluru, as it seeks to build on its India presence. India is currently the second biggest market for LinkedIn globally, with a user-base of 35 m…
Revamped schemes for Coir Industry
Enthused by rising exports of coir products and to improve ‘ease of doing business’, the Ministry of Medium, Small and Micro Enterprises (MSME) plans to revamp all schemes related to the industry. The revamped schemes, with focus on technology upgradation and incentivising new products for export…
Jugnoo acquires on-demand groceries venture SabKuchFresh; plans to enhance its delivery services business
SoCoMo Technologies, which owns and operates auto-hailing app Jugnoo, has acquired on-demand grocery venture SabKuchFresh, the Chandigarh-based company announced on June 2, 2016. The terms of the transaction were not disclosed, but in a company-issued statement, Jugnoo said the acquisition was ma…
SAP and CIIE to target investable regional startups in Gujarat, Rajasthan and Pune
Indian Institute of Management- Ahmedabad’s (IIM-A) incubator CIIE and global IT player SAP India launched second edition of startup accelerator to mentor and build capacities of 30 startups by 2017 by targeting regional startups. The accelerator program at Centre for Innovation Incubation …
Nandan Nilekani backed truck network start-up 4TiGO starts operations in six cities
Former Infosys CEO Nandan Nilekani and Accel Partners-backed truck network start-up 4TiGO on Wednesday announced commencement of operations in six Indian states, aimed at optimising goods transportation by bringing all stakeholders on to a common platform. The cloud-based technology platform with…
Reliance industries subsidiary invests $16 million in tech startup NetraDyne
Reliance Industrial BSE 0.12 % Investments and Holdings (RIIHL), a subsidiary of Reliance Industries BSE -0.54 % is investing $16 million in compulsory convertible preferential shares of us based tech startup NetraDyne . According to a filing by the Mukesh Ambani owned group on the Bombay stock e…
Alibaba Group Launches 1st Face-Lock Security App
Chinese mobile internet giant Alibaba Group has announced the launch of Privacy Knight, India’s first free app-lock with Face Lock feature that protects mobile privacy from intruders. Equipped with Face Lock, the fastest and most accurate unlock solution in the world, Privacy Knight enables users…
Hartek power enters Chandigarh’s rooftop solar segment, executes city’s first project in commercial category
The 436-kWp project at Chandigarh Technology Park is the third largest solar PV project to be commissioned in the city after the ones at PEC, GCG-11 CREST achieves success in private intervention area for the first time with the completion of this project, thus setting the pace for much-needed ca…