Early this month when Reliance Industries (RIL) Chief Mukesh Ambani announced a Rs 5,000-crore proprietary Venture Capital (VC) fund, RIL joined the growing club of conglomerates offering capital to digital start-ups. The conglomerates are offering capital for not only making financial gains, but…
Start Up India
Unocoin Technologies raises $1.5 million funds
Unocoin Technologies Pvt. Ltd raised $1.5 million in pre-Series A round of funding led by Blume Ventures, the company said. Mumbai Angels and ah! Ventures along international investors—Digital Currency Group, Boost VC, Bank to the Future and FundersClub also participated in the round. The company…
Microbrewery Gateway looks to raise $3 mn
Gateway Brewing Co., Mumbai’s first microbrewery,is in advanced talks with investors to raise around $3 million in its Series A round, Co-Founder Naveen Mittal said. The two-year-old start-up will utilise the capital to start its bottling operations for distribution of their beer across the count…
Decoding the Indian fintech start-up sector
Two surveys, by Kalaari Capital and Tracxn, delve deep to check out the strategies, the investments and people that help run these rapidly-growing firms which marry money and software. Source: ET Tech
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DIPP to hire consultants to push Start-up India
The Commerce and Industry Ministry is looking to engage consultants to promote the government’s Start-up India campaign for budding entrepreneurs. The Department of Industrial Policy and Promotion (DIPP), under the ministry, has issued an advertisement for engaging a senior consultant and t…
German bicycle rental startup Nextbike seals JV with Chartered Speed
German bicycle rental startup Nextbike has sealed an exclusive joint venture with Ahmadabad-based transport startup Chartered Speed to launch digital cycle sharing services in about 100 Indian cities. “The operations will be started from Bhopal with 500 bicycles and will be app-based, backed stro…
Mahindra Univeg acquires minority stake in agri startup MeraKisan
Mahindra Univeg, a JV firm between Mahindra Agri Solutions and Belgium’s Univeg, announced that they have acquired minority shareholding of 33 per cent in agri startup firm MeraKisan. The financial details of the deal were not disclosed. MeraKisan’s business model augments disintermed…
STPI to get into angel funding for IT, electronics start-ups
Software Technology Parks of India (STPI) is planning to float a special purpose vehicle (SPV) to provide angel funding to IT and electronics start-ups in the country with the help of financial institutions. The STPI, the single-window facility for software exporters from the country, has been ch…
NIIT acquires business of ed-tech startup Perceptron
Learning solutions provider NIIT has acquired the business of Bangalore based start-up Perceptron Learning in a bid to accelerate its digital transformation initiatives – StackRoute, digiNxt, and Training.com. It also announced the appointment of Satish Sukumar, Co-Founder and Chief Executive (…
TN needs to create robust environment for start-ups: Report
It is need of the hour for the Government of Tamil Nadu to create a favourable environment for start-ups, a report has said. “Business transformations are driven by digital advancements, introducing disruptive products and services for enhancing customer experiences. India has witnessed a s…