Taking a step further in its aggressive growth plans, Sequoia Capital backed online pharmacy 1mg on July 4 announced that it has acquired Medd, a marketplace for booking diagnostic and imaging tests. 1mg did not divulge the deal size and structure. “Diagnostics is a huge opportunity within …
Start Up India
Mukesh Bansal’s new startup ‘CureFit’ bags $15 million funding
Mukesh Bansal, the Co-Founder of fashion portal Myntra, has snagged funding for his new startup — CureFit — from a group of marque investors, who backed his maiden venture and have now stepped up to close one of the largest seed investment rounds in the Indian startup sector this year. Accel Part…
Moglix joins SAP startup studio as it continues path towards disrupting B2B commerce
Aims to serve manufacturing companies with cumulative turnover of more than $30B, which is 10% of the Indian manufacturing sector, in the coming 2 years. Moglix, a leading e-commerce company specializing in B2B procurement of industrial products, has announced its entry into “SAP Startup Studio”,…
Aramex invests in Grab.in and Logisure to bridge last-mile delivery
Global logistics service provider Aramex has invested in last mile mobile-based companies Grab.in and Logisure to strengthen its last-mile delivery service in the ecommerce segment in India. The company has committed to invest Rs 20 crore in Zomato backed last-mile delivery company Grab a Grub, w…
Start-Up Innefu Labs finds desi success, eyes foreign foray
The vibrant startup ecosystem in the country has witnessed the inception of companies focused on various segments of the technology domain, but the area of cyber security has seen far and few between. Innefu Labs, a cyber security startup founded by two college batchmates—Tarun Wig and Abhishek S…
KITCO’s start-up incubator to extend its reach
Public-sector engineering consultancy organisation KITCO is extending the reach of its ambitious incubation programme — myenterprise — to working professionals to encourage them to join the growing Indian start-up bandwagon. The company’s new initiative is unique in its form and content as it act…
Mauritius’ Mandala capital to acquire majority stake in EFRAC
Mauritius-based PE firm Mandala Capital has invested $10 million (approximately Rs 67 crore) in an integrated food testing lab start-up in Kolkata EFRAC founded by a clutch of city-based angel investors. The PE firm has agreed to commit another $10 million into the startup after three years provi…
IKP to start incubation centres to fuel science-led innovations
The US Agency for International Development (USAID) and IKP Knowledge Park July 2, 2016 launched the first Call for Proposals under the ‘Agriculture for Nutrition Grand Challenge’. It is part of the USAID-supported Feed the Future India Innovations for Improved Nutrition” program, implemented by …
Deposit norms relaxed to help startups raise funds
In order to make it easier for startups to secure funding, the government has exempted any advance of more than Rs 25 lakh to a startup from being treated as deposit provided that the person giving the money does it in the form of convertible note. According to the Companies Act of 2013, any comp…
Autodesk joins major MNCs looking to tap into startup ecosystem in India
Autodesk, the 3D design company whose software was used to create special effects in blockbuster film `Avatar,’ is launching a design and innovation centre in Bengaluru. The centre will provide a platform for startups, giving them access to its design technology as well as funding. It will …