Seattle: More than two years ago, Amazon Chief Executive Officer Jeff Bezos spoke on 60 Minutes about delivering goods to homes with unmanned aircraft, or drones. But a little start-up near Reno, Nevada, beat Amazon to the punch. The company, called Flirtey, in July made its first household deliv…
Start Up India
Start-ups see 6% dip in Q3 deal activity
Dry season for startups continues to become drier, as funding activity has further reduced with total number of deals struck in Q3 amounting to 291, a 6% reduction compared to the previous quarter, says data from Xeler8, a data cruncher that works using machine learning and analytics. “Surp…
Start-up Get My Parking launches on street smart parking
Launches On-street Smart Parking without the need of sensors an Indian startup solving parking problems From Delhi to Kumbh Mela to IPL Get My Parking (GMP) is a Chennai Angels funded venture started by IIT Madras and FMS Delhi alumni which has digitized the parking industry. Despite the industry…
Ventureast sets up new $ 150 mn fund for start-ups
Venture capital firm Ventureast has set up a new fund, under which it aims to raise about USD 150 million, for funding seed and early stage tech-led businesses. ‘Ventureast Proactive Fund II (VPF2)’ is expected to make the final closing in the next six months and has seen strong inter…
SMEs’ IPO fund raising doubles to Rs 384 cr in April-Sept FY’17
Fund raising by Small and Medium Enterprises (SMEs) from initial public offerings more than doubled to Rs 384 crore in the April-September period of 2016-17 from the year-ago period. In comparison, 27 SMEs raised Rs 182 crore in the first half of the preceding financial year, 2015-16. “Indi…
Monetary Policy: Start-ups can raise $3 mn via ECBs annually, says RBI
With a view to boosting innovation and promoting job creation, the Reserve Bank today said start-ups can raise External Commercial Borrowings (ECBs) of up to 3 million in a financial year. They will be permitted raise the overseas funds in rupees as well as in foreign currency. India has the thir…
Ratan Tata backed Moglix raises Rs 28 cr from Accel Partners, others
B2B e-Commerce start-up Moglix has raised Rs 28 crores in Series A round of funding led by Accel Partners with participation from Jungle Ventures and SeedPlus. Moglix had raised Pre-Series A funding from Accel Partners and Jungle Ventures in October 2015 and an undisclosed financial investment in…
Muhurtmaza raises funding from US based HNI investor
Online puja booking service Muhurtmaza has raised an undisclosed amount of seed funding from a US based HNI investor, said Co-Founder, Sughosh Sowale. Set up in Pune in late 2014, Muhurtmaza allows customers to book a priest online, depending on what specific ritual they would like to conduct, as…
US-based start-up Roomi launches services in India
Expanding its services to India, US-based rental and shared housing startup Roomi launched its services in Delhi. The company claims to have 400,000 users globally. “In recognition of rising demand for affordable shared housing in urban centers in India, Roomi has opened a dedicated office in Ne…
Biocon Founder Kiran Mazumdar-Shaw backs two cancer start-ups
Nearly four decades after launching Biocon, one of India’s earliest biotech companies, Kiran Mazumdar-Shaw is ready to be part of the country’s startup ecosystem. On October 3, she invested $1.6 million (around Rs 11 crore) in Philadelphia and Mumbai-based UE Lifesciences, the developer of an aff…