Social Venture Capital firms have invested about $95 million over 53 deals in India during the 12 months ended December, according to data from Venture Intelligence. Deal activity increased 8.2% compared to 2014 which had witnessed 49 such investments valued at $106 million. The larger sized inve…
Companies, Finance & Markets
Rs 175 crore Govt. grant for enhancement of global competitiveness of Capital Goods Sector
The Government has approved five projects and granted Rs 175 crore for enhancement of global competitiveness of Indian Capital Goods Sector. Under the first project 500 acres of land has been earmarked for Integrated Machine Tools Park in Tumkur in which space will be reserved for number of MSMEs…
RBI proposes easier access to Foreign Capital for start-ups
The Reserve Bank of India (RBI), in its sixth bi-monthly monetary policy statement, has proposed steps to improve ease of doing business for start-ups through easier access to foreign capital and by enabling smoother transfer of ownership. RBI Governor Raghuram Rajan said the central bank wants t…
Capital Float’s Gaurav Hinduja on funding SMEs
Gaurav Hinduja, founder of SME-focused online lending platform Capital Float, says while a robust digital ecosystem is necessary for SME lending to pick up in the country, the problems that SMEs face in raising working capital can only be solved by digital and traditional banking channels working…
Foodpanda makes a profitability pitch
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…
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…