50K Ventures invested an undisclosed amount in CodingLabs, a platform for aspiring technologists to showcase coding skills, eliminating paper resumes. The investment led by Vineel Nalla, CEO of NBOS Technologies and also Co-Founder of 50K Ventures. Established in 2015, CodingLabs provides a platf…
Companies, Finance & Markets
Piggybank – a $20-m walk in the Cloud4c awaits investors
Cloud4C, touted as the world’s only Tier-4 cloud solutions firm, promoted by Tier-4 data center services provider CtrlS is looking at raising around $20 million by divesting a minority stake. The cloud solutions firm that kicked off commercial operations in April 2015 would divest a maximu…
AskMe Grocery looks to expand operations to 70 cities
Although the food tech sector is grappling with slowing sales and high attrition, hyperlocal AskMe Grocery is looking to scale up. Ankit Jain, founder, AskMe said that the firm proposes to expand operations from 35 cities to 70 cities by March, 2016. “Expanding the business in tier II and tier II…
Mahindra Insurance to focus on SMEs, reinsurance
Mahindra Insurance Brokers (MIBL), an insurance broking company from the M&M group, said it will focus on SME and reinsurance businesses in a big way. The company will launch its online platform in two months. It is open to raise funds from PEs for technology and products, Managing Director J…
PEs,VCs invest Rs 843 crore in Bengal start-ups
Over Rs 843 crore have been invested by private equity firms, angel funds, start-ups, venture capitalists and others after Mamta Banerjee’s government came to power in West Bengal, said the state Finance and Industry Minister Dr Amit Mitra at an ASSOCHAM-IACC event held in Kolkata. “We have cross…
Daily Ninja to raise fresh funding in two months
Daily Ninja, a subscription-based daily needs hyperlocal platform, is in talks to raise its next round of funding from its existing investors — Aprameya Radhakrishna of TaxiForSure, Venk Krishnan of NuVentures and Subramanya S V, former MD at Bessemer Venture Partners — and a clutch of other inve…
Karnataka woos textile investors
The Karnataka government is pitching for global investments in the textile sector.The State is home to 70 large and medium textile companies and more than 50,000 small units operate under the Micro, Small and Medium (MSME) categories. “The textile industry occupies an important position in the in…
OFS Technologies plans for acquisition
Bangalore based OFS Technologies Limited, that debuted on BSE-SME exchange on January 14, is planning to use its IPO proceeds for an acquisition either in India or Europe, subsequently adding few more clients in its kitty. Speaking to SMEpost.com, OFS Technologies’ Company Secretary, Maniva…
Textile industry seeks sops, excise duty removal
In a bid to salvage the dwindling cotton yarn exports, the textile industry has sought extension of the three per cent interest subvention, along with other export benefits to cotton yarn under MEIS and IES on a par with other textile products from the ministry of textiles. In representations by …
Chumbak inks cloud service pact with IBM
Chumbak, a retail company known for its quirky designs of apparels, accessories and home décor products, has chosen IBM cloud to run and host its enterprise resource planning applications. The companies did not disclose the value of the deal. “Over the last five years, Chumbak has grown over 300%…