Whether you like the Indian Premier League or don’t, there is no escaping the din and crackle surrounding the event this year. And that is exactly what start-ups, paying anywhere between Rs 5 and 5.75 lakh for a 10-second spot on television during the matches, are betting on. The rates, alm…
Start Up India
Banks look to cash in on start-up wave by carving a new segment
Many banks have established a separate internal segment to cater to the needs of start-up entities, as they see value in building a relationship with some of these expected to become large companies in years to come. “For the first time in our country, entrepreneurship is being promoted in …
Online forex aggregator Fxkart to raise $5-million series A
Fxkart.com, an online aggregator of authorised foreign exchange dealers, is set to raise $5 million in Series A funding in three months, the company’s CEO Abdul Hadi Shaikh said. “We are in active talks to raise money, which will be used for improving the product, increase dealer participation, a…
KredX raises $750,000 from Prime Venture Partners
Invoice-discounting platform, KredX has raised $750,000 from Prime Venture Partners. Founded in 2015 by Manish Kumar, Anurag Jain, and Puneet Agarwal, KredX helps Micro Small and Medium Enterprises (MSMEs) looking for working capital, connect with individual financiers. It enables growth of MSMEs…
Lithuanian start-up may ease India’s traffic
Lithuanian start-up TRAFI, which offers a public transport app to help people plan their journey, is entering the Indian market. The firm said it aims to ease India’s traffic woes by using real time data, scientific algorithms and machine learning, which gives computers the ability to learn witho…
Sequoia leads $7.5 million funding in video platform 90 Seconds
Cloud video production platform 90 Seconds announced it has raised $7.5 million in Series A financing led by Sequoia India. The round was supported by SKY TV NZ, Airtree Ventures, Beenext and Fotolia.com (sold to Adobe for $860 million) and the founder of the platform Oleg Tscheltzoff, will accel…
MagicX raises $1 million, to invest on team expansion
MagicX, an on-demand, chat-enabled, AI-powered app to manage day-to-day tasks, has raised $1 million from marque investors including Kris Gopalakrishnan (Co-Founder, Infosys), Dr Ranjan Pai (MD, Manipal Education and Medical Group), Ramaraj (Co-Founder, Sify), Hari Kumar (Lionrock, Singapore) and…
Cloud telephony company Exotel’s API opens for startups
Exotel, a cloud telephony company, will make its tools and rules for building software applications termed as API available in Singapore, Malaysia and Indonesia. The company is primarily targeting the tech-enabled service industry. An initial investment of $10 million (approx Rs 66.5 crore) is pl…
Goldman Sachs scouting for fintech start-ups
Goldman Sachs, the investment bank, is scouting for financial technology start-ups and is looking at Bengaluru for new picks. The Principal Strategic Investment Group of the bank has a global portfolio of 75 firms, including a dozen investments in the Asia-Pacific. Two are in India — National Sto…
Start-ups eye car servicing, spare parts retailing business
To tap the growing market of out-of-warranty/second-hand cars, start-ups are getting active in the car servicing and spare parts retailing space. These new players are also tying up with manufacturers to sell original spare parts. These start-ups use technology to form a marketplace that will con…