App-based taxi aggregator Uber is keeping its options open to have its own payment wallet in India despite its current collaboration with Paytm that allows riders to pay digitally. We recently announced our partnership with Paytm and I think part of Uber’s success and strategy is to work wi…
Start Up India
Microsoft acquires messaging start-up founded by Indian
Technology giant Microsoft has acquired a messaging-app developer founded by an Indian as the US-based software firm aims to strengthen its position in the emerging era of combining the power of human language with advanced machine intelligence. Microsoft acquired California-based Wand Labs, a st…
Private equity funding into startups dips 25% in 2016; Goldman Sachs
Private equity funding has declined by 25% year-on-year from $2.5 billion in 2015 to $1.9 billion in 2016, said a recent report by a global research firm, Goldman Sachs. While the number of deals has picked up by 52% year-on-year in 2016, the average deal size has declined by 51% to $4.3 million.…
IFC focus on startups in healthcare, edu-tech and clean technology among others
International Finance Corp, the private sector investment arm of the World Bank, is looking to ramp up its venture capital activity in India, a geography that represents the long-term investor’s second-largest portfolio globally. Buoyed by its investments in a string of leading Indian start…
Klay Schools gets $16 million led by Peepul Capital
Bengaluru-headquartered Founding Years Learning Solutions, which runs Klay Schools preparatory schools and daycare centres, has raised $16 million (Rs 107 crore) in a Series-B round led by Peepul Capital. Existing investor Kaizen Private Equity, which had invested $6 million in the chain in 2013,…
SBI rolls out Rs. 200-cr start-up fund
State Bank of India seems to be setting great store by start-ups in the financial technology (FinTech) space. After starting an exclusive branch for start-ups in Bengaluru earlier this year, it has set up a Rs. 200-crore fund to provide assistance to them. SBI Chairman Arundhati Bhattacharya said…
Over 400 entrepreneurs queue up for tax benefits
Over 400 budding entrepreneurs have filed applications with the Department of Industrial Policy and Promotion (DIPP) for recognition as innovative startups to avail tax breaks and other benefits. An inter-ministerial committee, which assessing such applications, has already considered 189 request…
Silvan gets Rs 6 crore funding from Infuse Ventures
Clean-tech fund Infuse Ventures has invested Rs 6 crore of equity funding in home automation and energy management solutions provider Silvan Innovation Labs. The company plans to expand into the business-to-consumer segment, after catering to business-to-business players including real estate dev…
Greytip raises Rs 35 crore from NEA & Blume Ventures
Greytip Software, a cloudbased HR and payroll processing company, has raised Rs 35 crore in a Series-B funding round from New Enterprise Associates (NEA) and Blume Ventures. Following this, Tarun Sharma, Managing Director — India, NEA and Karthik Reddy, managing partner, Blume Ventures, will join…
No funds crunch for fashion startups
Fashion startups are in vogue this season. Despite the current funding crunch dogging the Indian startup space, startups specializing in fashion are drawing huge investor interest. In May alone, several fashion startups including 6Degree, Blinge, Shopwati, Hoppingo and Coutloot raised funds from …