Bengaluru: For Manish Singhal and Umakant Soni, it was a decision that had all the reasons to be made. With entrepreneurs finding novel ways to generate previously untapped data, artificial intelligence (AI)-based startups are gaining importance these days. So, they set up a unique AI-focussed fu…
Companies, Finance & Markets
FreeCharge & Faasos tie up for e-wallet payment solution
Snapdeal owned digital payments platform FreeCharge said it has tied up with food-on-demand firm Faasos for e-wallet payment solution. FreeCharge currently provides e-payment facility to various food and beverages category players like foodpanda, Zomato, Swiggy, Freshmenu, Innerchef, Domino’…
e-Commerce cos grow revenues, but losses skyrocket
Even without the curbs imposed on them, e-retailers don’t seem to have made too much money in FY16. While for some companies, the losses doubled, for others, it trebled, indicating many of them are simply buying revenues. In other words, they are driving sales by offering customers big discounts …
Epsilon Ventures invests Rs 154 cr in Pi Data
Epsilon Venture Partners, a pan-Asian technology focused fund manager along with an Australian private equity group has invested Rs 154 crore ($23 million) in Vijayawada-based data-centre and cloud services firm Pi DATACENTERS (Pi). The funds raised would be used in rolling out the first few data…
Founded in US, start-up 75F targets Rs 100 cr revenue in India
A startup founded by Indian duo Deepinder Singh and Pankaj Chawla in the US is now tapping the Indian market to offer solutions that harness the power of Internet of Things (IoT) and cloud computing to predict a building’s energy needs. Started in 2012, 75F uses IoT to control Heating Ventilation…
Wockhardt’s Huzaifa Khorakiwala to raise Rs 125 cr for healthcare start-up fund
Executive Director of Wockhardt Ltd Huzaifa Khorakiwala has launched a healthcare angel fund that is targeting to raise Rs 125 crore to be invested in start-ups. Health Passion Fund is targeting to raise Rs 125 crore corpus and will look at an investment up to Rs 5 crore in each start-up, a state…
ESAF to raise Rs 300 cr for small finance bank
Thrissur-based ESAF Microfinance is planning to raise around Rs 300 crore to support its Small Finance Bank operation, for which it has got a licence. The new SFB is expected to start operating by mid-February 2017. ESAF says the aim is to make profit in the first year itself; it will be listed o…
Healthcare IT firm Indegene Lifesystems acquires US-based Enicma Group for Rs 109 cr
Mumbai: Healthcare IT firm Indegene Lifesystems has acquired US-based Enicma Group for $16 million (Rs 109.54 crore) to ramp up its analytics and omni-channel digital solutions capability for the pharma industry. Manish Gupta, Chief Executive of Bengaluru-headquartered Indegene, said life science…
Airtel rolls out India’s first payments bank
The first payments bank in the country has gone live. Airtel Payments Bank , which has rolled out a pilot project in Rajasthan, launched with the promise of being a disruptor, offering 7.25% interest on savings bank accounts. This is the highest return offered by a bank in India, with most lender…
Snapchat files for one of the biggest tech IPOs: Report
Photo messaging service Snapchat confidentially filed for an initial public offering with the Securities and Exchange Commission (SEC), sometime before Donald J Trump was declared President-elect of the United States, according to a Reuters report, citing unnamed sources. While the Internet compa…