Amidst a sense of outrage over big pile of Non-Performing Assets (NPAs) in the public sector banks, the least amount of stress is visible among not- too fancied priority sector borrowers, comprising agriculture and the micro industrial units, according to the latest RBI data. While the ratio of t…
Companies, Finance & Markets
CareOnGo raises $300,000 seed funding
CareOnGo , a mobile chain of co-branded pharmacy stores, has raised $300,000 in its seed round from a consortium of investors led by Farooq Oomerbhoy, one of the co-founders of the early stage fund – Orios Venture Partners. Raj Mishra of Indea Capital and Vineet Ganesh of Imperial India Inv…
Tamil Nadu seeks investments in industrial parks
The Tamil Nadu government has appealed to investors to consider the 20 industrial park set up in the State, and tap the business opportunity in developing the 12 new parks that are being established. R Selvaraj, Managing Director, State Industries Promotion Corporation of Tamil Nadu (Sipcot), sai…
Universal robots to tap MSMEs
Denmark-headquartered Universal Robots aims to tap small industries in tier II/III towns across India, a top company executive said. In an interaction, Universal Robots General Manager (India) Pradeep S David said, “We are in talks with smaller industries like auto component and packaging industr…
Mumbai’s NTC land to become MSME hub
The textiles Ministry plans to set up Micro Small and Medium (MSME) units in the land available at the National Textiles Centre (NTC) mills in Mumbai. These units would be allied sector of textile industry, said Santosh Kumar Gangwar, Union Minister of Textiles, Independent Charge. On the sidelin…
Indian ecommerce market to grow fastest globally over 3 years | Morgan Stanley
India received $6.6 billion in venture capital and private equity investment in 2015, a 50% increase from the previous year, which probably contributed to a steep growth in the gross merchandise value for ecommerce companies, Morgan Stanley said. The GMV of the country’s top three ecommerce…
SmashUp to facilitate funding for 10 Start-ups
The Indus Entrepreneurs (TiE) will be organising SmashUp, a competition with an instant funding opportunity for startups, in Hyderabad from February 27. Designed to enable the startups to learn the art of building successful ventures from mentors and successful entrepreneurs, SmashUp will provide…
Angel Funding gains Tracxn with tech A-Listers joining in
Startup research platform Tracxn has raised a new round of angel funding from former UIDAI chairman Nandan Nilekani and former Infosys CFO Mohandas Pai, along with WhatsApp’s Neeraj Arora and Junglee Cofounder Anand Rajaraman. The startup said that the new set of investors will help it sell…
Ambition Mica ambitious on its export
Ambition Mica Ltd, an Ahmedabad based BSE-SME listed company is confident of increasing its factories’ utilisation rate to 70 per cent this financial year, compared to 48.26 per cent of utilisation of its total installed capacity, during last financial year. Ambition Mica is riding high on …
Gujarat to set up foreign desk for tapping Diaspora Funds
Gujarat Chief Minister Anandiben Patel said on February 16 that her state will set up foreign desks in global financial centres like New York, Dubai, Frankfurt, Guangzhou and Tokyo to attract investments from the Indian diaspora. “The Gujarati diaspora is present in huge numbers abroad and …