Ninjacart, an online platform that connects farmers and brands to retailers, has raised Rs 20 crore in a funding round led by Accel Partners. The round also saw participation from Qualcomm Ventures, Singapore-based M&S Partners and ZopSmart, the parent of online grocer ZopNow. The Bengaluru-b…
Companies, Finance & Markets
US Co. Payoneer India entry to benefit SMEs
US-based financial technology company Payoneer plans to enter India by the end of this month, offering its crossborder payment services to the country’s small and medium enterprises. The company has partnered with IndusInd Bank to launch the service after receiving central bank approval. It…
Egypt to provide duty free access for Indian companies
Egypt, often viewed India’s gateway in North Africa, is now providing duty free access to European Union, North America, Arab and African markets for the Indian companies. Addressing a business meet in Kolkata last month Egyptian Ambassador to India Hatem Tageldin said that 52 Indian compan…
Vermillion sets Rs 100 Crore loan disbursal target
Vermillion Finalytics, which runs the online portal LoanXpress, has set itself a loan disbursal target of Rs 100 crore for the current fiscal. The Mumbai-based company has sanctioned a dozen loans amounting to Rs 32 crore since its launch in November 2015, its Founder Pratapsingh Nathani told. &#…
SEBI to soon announce measures for Start-ups
After getting an extension of one year, UK Sinha, Chairman of the Securities & Exchange Board of India (SEBI), is ready to unleash a number of announcements for start-ups. Though the board meeting, which is scheduled next week, will take decisions on tax incentives for alternative investment …
Ola is testing bike taxi service in Bengaluru
India’s largest cab aggregator Ola is testing a service to provide bike taxis in Bengaluru, close on the heels of its main rival Uber which recently launched a similar service in the city. The service, the latest from the Ola stable following the launch of a shuttle-bus as well as an auto-r…
Aahaa.in raises Rs 6.7 crore from YourNest Angel Fund
Aahaa.in, an online platform for sourcing consumables for businesses, has raised about Rs 6.7 crore ($1 million) in pre-Series A round from YourNest Angel fund and a consortium of investors. The platform, which has been live for 16 months, currently works with Ashok Leyland, Wipro and other store…
Hyperlocal firm Zopper acquires software company EasyPoS
Hyperlocal discover and buying platform for electronics Zopper has acquired point of sale (PoS) software company EasyPoS in a mixed cash and equity deal, valuing the company at Rs 33 crore ($5 million). The move is directed at raising additional revenues through the PoS solution and increasing st…
Despite high target, Mudra refinance to remain low
Even as the government has set a lofty target of Rs 180,000 crore of loan sanctions under its Mudra Yojana, the actual refinance by Mudra, Non-Banking Finance (NBFC) arm of Small Industries Development Bank of India (SIDBI), will be not more than Rs 4,000 crore this year. In the 2015-16 budget,…
Blippar raises $54 million from Malaysian Government Fund
Blippar Inc, a technology company specializing in augmented reality, artificial intelligence and computer vision, has raised $54 million (Rs 365 crore) in series-D funding led by Khazanah Nasional Berhad, the strategic investment fund of the government of Malaysia. Existing investors also put in …