Online grocery retailer BigBasket has signed on a range of electric vehicles to increase efficiencies and cut down on operating costs as part of its environment-friendly initiatives. The company, which is likely to close a fresh round of funding with participation from International Finance Corpo…
Byju’s to add more products to learning app, expand internationally
Education-technology company Byju’s has raised $75 million (about Rs 499 crore) from Sequoia India and Belgian investor Sofina to add more products to its learning app and spur international expansion. “We are predominantly focussing now on maths and science. We will be adding more su…
FM Logistic acquires majority stake in Spear Logistics from Ambit Pragma
Ambit Pragma sold its majority stake in Pune-based Spear Logistics Private Limited, to FM Logistic, leading international logistics provider. Ambit Pragma, a Small Cap (SME) Growth and Buyout fund with approximately US$ 150 million under management, had invested in Spear in 2009. FM Logistic is i…
RBI instructs banks to put MSME revival framework by June 30, 2016
The Reserve Bank of India (RBI) has issued the Framework for Revival and Rehabilitation of Micro, Small and Medium Enterprises (MSMEs) along with operational instructions, to all banks for immediate implementation. Under the Framework, cases for all MSME loan accounts where principal or loan inst…
50 Make in India projects in Maharashtra to get land 30 per cent cheaper
The MIDC will soon provide 50 small and medium-sized enterprises (SMEs) with land at 30% cheaper rates as part of the Make in India plan. According to a recent circular, the Maharashtra Industrial Development Corporation (MIDC) will exempt the SMEs project from the new plot rates announced on Jan…
India telemedicine market to cross INR 200 crore by 2020 | Ken Research
According to the Research Analyst Ken Research, The usage of technology in healthcare system of India has radically changed the market dynamics, since the advent of ICT in healthcare market. E-Healthcare technologies can help in easy access of healthcare services to patients in rural India. This …
Revenues of sugar industry projected to increase to INR 1,033 billion in FY’2020 | Ken Research
According to the Research Analyst Ken Research Sugar is also known as the common sweetener which is consumed in large quantities across the globe. Sugar industry constitutes one of the most important agro based industries in India. It has been witnessed that the sector supports over 50 million fa…
PropTiger likely to sell properties worth Rs 2,100 crore in FY 16
News Corp-backed realty portal PropTiger.com is likely to sell about 3,500 housing units worth Rs 2,100 crore during the fiscal, up 17 per cent from the last year, helped by its entry into secondary property market through the acquisition of Makaan.com. The company had sold about 3,000 units wort…
LifCare raises $1 million in seed capital
LifCare, a Jaipur based subscription pharmacy which focuses on chronic illnesses, said it has raised $1 million in seed capital in a round led by Rajul Garg, a former IIT graduate and director of Sunstone Business School. “LifCare has a fresh approach beyond chemists and epharmacies that ex…
India to soon get ‘startup corridor’, will be under Science & Technology Ministry
India may soon get a ‘Startup Corridor’ to enable incubators to create a consortium that can share their specialised incubation service with startups. The government plans to create such a facility and provide financial support of Rs 5 crore to the consortium. “We are in the pro…