Hyderabad-based plastic waste recycling company Banyan Nation has raised an additional capital of Rs 5.36 crore (USD 800,000) from Artha Capital as a part of the social enterprise technical assistance project run by the Global PE Firm KKR and Shujog – the not-for profit-initiative by Impact…
Companies, Finance & Markets
Paytm introduces hindi interface on its app to expand seller base
Paytm has introduced Hindi interface on its seller app to expand seller base in tier-II and III cities. The interface will also help the marketplace scale-up its online-to-offline business for shipping large appliances and electronics beyond the current base of 10 cities. “The top-10 cities…
Bike service uberMOTO to debut in bengaluru , fares as low as rs 3/km
Uber will debut its biketaxi service on March 4 in India’s technology capital, making Bengaluru the second city after Bangkok into which the world’s most valuable startup is riding in on two wheels. To be called UberMOTO, the service is aimed at tapping additional revenue streams in o…
DCB Bank acquires 5.8% stake in Annapurna Microfinance for $1.5m
DCB Bank has acquired 5.81 per cent stake in Annapurna Microfinance Pvt Ltd for Rs 9.99 crore ($1.45 million), according to a stock market disclosure. “The initiative of acquiring a strategic equity stake in Annapurna further strengthens our business partnership. DCB Bank has a meaningful presenc…
MebelKart bets big on modular kitchen category
Modular kitchen segment at MebelKart is seeing a growth of 75% Month on Month India’s highly preferred furniture marketplace MebelKart has announced that it is extremely optimistic about the modular kitchen category that it launched in November 2015. The company is witnessing a month-on-month gro…
MoMark raises Rs 4 Crore to strengthen its Mtech platform
MoMark Services, a mobile app-based customer engagement platform and mobile wallet aggregator, has raised a pre series-A funding of $600,000 (aroundRs 4 crore) led by YourNest Angel Fund. Kolkata-based LNB group also participated in the funding round. MoMark facilitates loyalty and analytics-led …
Robotics firm Systemantics gets next round of funding from Nandan Nilekani
Robotics firm Systemantics, which builds industrial robots for the manufacturing sector, has raised another round of funding from venture capital giant Accel Partners and Infosys Co-Founder Nandan Nilekani, a few years after it received backing from investors such as Blume Ventures. Systemantics,…
Testbook raises funding from S Chand & Company
Edtech startup Testbook has raised an undisclosed amount of funding from education content provider, S Chand and Company. Founded by IIT alumni Narendra Agrawal and Ashutosh Kumar, Testbook focusses on online test preparation for competitive exams. The Mumbai-based startup aims to build a persona…
DriveU raises $1 million from Unitus seed fund
DriveU, an on-demand driver service, has raised funds from Unitus Seed Fund, a move that will help the company compete with taxi-aggregators like Ola and Uber. While the Bengaluru-based company declined to disclose the investment details, sources said Unitus has pumped in about $1 million (about …
Fintech players upbeat about digital literacy
Financial technology startups and payments companies have cheered at the rural push in the 2016 Union budget presented by Finance Minister Arun Jaitley in the Union Parliament on February 29. With the minister giving a push towards financial literacy in rural areas, ATMs and micro ATMS in post of…