A high percentage of start-ups are experiencing a slow down in receivables and transaction flow as a result of demonetisation of high-value currency notes, a survey has revealed. “A higher percent of start-ups and small and medium-sized enterprises (SMEs) experienced a slowdown in funding and exp…
Start Up India
7 Indian start-ups to join Google Launchpad Accelerator prog
Tech giant Google said it has selected seven startups from India that will join the third class of its Launchpad Accelerator programme. The shortlisted startups from India include an on-demand wardrobe rentals service (Flyrobe), furniture and appliances rental service (RentoMojo) and tutor help …
Currency Switch Impact | RBI doubles balance limit for digital wallets to Rs 20k, relief for small merchants
With the public facing cash crunch, RBI on November 22 introduced special dispensation for small merchants and doubled the limit of semi-closed Prepaid Payment Instruments (PPIs) to Rs 20,000 to facilitate digital transactions. To meet the transactional needs of the public through digital means, …
VC-backed deals in fintech space decline to five-quarter low: Report
Despite the buzz around start-ups working on financial technologies (fintech), investors globally and in India are approaching the sector with caution, a report said. According to ‘Pulse of Fintech’, a report from CB Insights and KPMG, venture capital (VC)-backed fintech funding fell 17% worldwid…
Currency Switch Impact | Demonetisation’s positives unlikely to be strong: Fitch
Fitch Ratings said on November 22 the government’s decision on demonetisation that had created a cash crunch would constrain economic activities in the short-term forcing the credit rating agency to cut its GDP forecast for the fourth quarter. “The impact on GDP growth will increase the longer th…
Google cap to back edu-startup Cuemath
Google Capital, the investing arm of tech giant Google, may lead a $13-15 million financing round in Bengaluru-based education startup Cuemath, three people aware of the fund-raise said. Backed by Sequoia Capital, Cuemath develops in-house math content which is a combination of worksheets, tabbas…
Networking app Nodd raises Rs 1 cr in angel funding
Mumbai-based Nodapp.com has raised funding of Rs 1 crore from multiple investors. Noddapp.com is an app-based networking platform that helps individuals discover and meet likeminded people through curated experiences, using data analytics, experiences and algorithms. The raised funds will be used…
India’s start-up hardware ecosystem is yet to get a kickstart
Sai Kiran was about to launch his first product offering – Teewe, a media streaming device. He knew setting up a hardware start-up would be challenging, given India’s limited resources for hardware manufacturing, but went ahead anyway. He ended up losing US$100,000 when he sought to make a protot…
QuikrHomes acquires Grabhouse, to launch cashless rental solutions
Online real estate firm QuikrHomes has acquired digitally-driven home rental solutions provider Grabhouse to launch cashless rental solutions. The move comes at a time when the nation is struggling with shortage of cash post the demonetisation of Rs 500 and Rs 1000 notes. The company aims to addr…
Mobile software start-up Helpshift raises $2 mn from Cisco Investments
Helpshift Inc., a start-up making customer support software for mobile apps, on November 22 said it has raised $2 million of funding from Cisco Investments, a unit of networking equipment giant Cisco Systems Inc. This follows a Series B round that Helpshift raised in June, netting $23 million fro…