Claiming to be the most dominant player in the market and in an effort to dispel ‘rumours’ around its possible shutting down or sale, the Rocket Internet and Goldman Sachs backed food-tech startup Foodpanda on February 2nd, 2016 said it would be profitable by financial year 2018-19. D…
ASTARC to invest $5M in Start-ups
ASTARC Group, a diversified business entity, plans to invest $5 million in Indian start-ups. Kishore Musale, CMD, ASTARC Group, told the media that the company has increased its corpus from $2 million last year to $5 million this year. “We will be making this investment across 10 companies this y…
Bhubaneswar plays IT smart
Move over Kolkata, Bhubaneswar is now the start-up darling in India’s east. The Odisha capital, which recently won the Smart City challenge, is home to a clutch of innovative start-ups such as Milk Mantra, Aabyss, CSM Technologies and Sak Robotix. Odisha has a lot going for it. Apart from the pr…
Sweat equity limit for Startups may be raised
The limit on sweat equity for startups could be raised to 50% from 25% of paid up capital, improving the incentives for innovators and giving a boost to the Startup India initiative. A committee set up by the government to review issues arising out of implementation of the Companies Act, 2013 has…
WIPRO arm invests Rs 9.78 crore in big data startup Altizon
Wipro Ventures, the $100-million venture capital arm of India’s third largest software exporter, has picked up a minority stake in Pune-based big data startup Altizon Systems Pvt Ltd for Rs 9.78 crore as part of a Series A funding round, a week after cross-town arch rival Infosys parked $4 …
AEQUS plans to enter Europe with Sira buy
Aerospace components maker Aequs has acquired France-based Si-RA Group for an undisclosed amount, marking an entry into Europe a few months after it set up a base in North America. At the time of acquisition, SiRA employed 300 people and had a revenue of 50 million. Aequs specializes in precision…
OUST Labs receives seed funding from Mohandas Pai
Oust Labs, an edtech startup whose gamified platform helps students excel in Indian competitive exams, has raised an undisclosed seed round from TV Mohandas Pai, chairman of Manipal Global Education Services and Aarin Capital. Founded by Shrikant Latkar in California, the company has been running…
‘Start Up India, Stand Up India’ launched in Thane
Deepak Ghaisas, the first Indian to receive the CFO Asia Award in 2001, launched the ‘Start Up India, Stand Up India’ programme in Thane. The Thane arm of the ambitious flagship programme, which was announced by Prime Minister Narendra Modi on Independence Day last year, was inaugurat…
IT only a small part of start-ups| PM | Mann ki baat
Prime Minister Narendra Modi on January 31 said the notion that start-ups are only related to IT has been broken by the Start-Up India programme. Delivering his ” Mann Ki Baat” radio address, Modi said Information Technology was only a small part of start-ups. “It is the common …
Rs 1 lakh crore disbursed in loans for small businesses | Amit Shah
Narendra Modi government has ensured that more than Rs one lakh crore in loans is disbursed to micro units and enterprises in just one financial year, BJP President Amit Shah on February 1 said as he termed it as a big “success” in providing self employment to people. Addressing a gat…