Five months after its launch by Prime Minister Narendra Modi, the government’s Startup India initiative is due for an overhaul to improve participation. The government recently held a review after fewer-than expected startups applied for recognition and only one made the final cut for the i…
Start Up India
Scheduler’s logistics raised series-B round from GVFL
Gujarat-based venture fund, GVFL Ltd has invested Rs 40 crore in Mumbai based integrated cold chain operator Schedulers Logistics India Pvt Ltd. Schedulers operates a fleet of reefer vehicles and temperature controlled warehouses across India. The transaction marks the second round of growth fina…
TravelTriangle ties up with Paytm to integrate its payment wallet
Noida-based online holiday market place TravelTriangle has partnered with Paytm to integrate its payment wallet on its web platform and mobile site. Targeted towards making payments cashless for their customers, Travel Triangle is also offering 10% cashback on its site for all trips booked via e-…
Startups see uptick in funding as investors return to Hyderabad
Startups in Hyderabad are seeing an uptick in funding as investors return to the city after a hiatus caused in part by the political instability in the region. According to Tracxn, which collects data on the Indian Startup industry, 25 Hyderabad-based ventures have been funded so far this year, c…
Government allows 100% FDI for online grocery startups
In a boost to retailers and grocery startups such as Bigbasket and Grofers, the government on June 20 allowed 100% FDI in food retail, including through e-commerce, provided such items are produced, processed or manufactured in the country. This will allow multi-brand retail giants such as Walmar…
IITian’s NearGroup app connecting neighbourhoods
In today’s world we have gone digital where our social boundaries have blurred. It has become difficult for us to identify that who is living in our neighbourhood. Hence in the time of any emergency we are not able to count on our neighbours. This evolving gap among the neighbours gave IIT Madras…
Investors say Angel Tax exemption will not benefit several startups
The government’s much-lauded decision to repeal the controversial ‘angel tax’ will not benefit several startups because of the riders attached in the new regulation, industry leaders said. ‘Angel tax’, or tax on investments in startups, was considered regressive by a…
New startups that meet government norms escape tax
New business entities, which meet the government-prescribed definition of ‘startups’, will no longer have to suffer the burden of ‘angel tax’. This will enable them to obtain investments from unregistered venture capital funds or high net worth individuals, without having …
Start-ups in a state over Karnataka’s rules
Start-ups in India’s innovation capital Bengaluru are chary about their survival in the wake of the stand-off between Uber, the world’s most valuable start-up, and the Karnataka government. While Uber is yet to comply with the On Demand Transportation Technology Aggregators Rules, 2016, implement…
Fxkart.com looks to raise $5 million from pe, vc players
Fxkart.com, an online aggregator of RBI-licensed foreign exchange dealers, is looking at raising around $ 5 million from private equity or venture capital funds. The Dubai-based company, which started its Indian operations in January 2015, has started the process of negotiations with the potentia…