GoDaddy, one of the world’s largest web hosting firms, on July 7, said it would make its services available in three Indian languages – Hindi, Marathi and Tamil – to enable over 31 million small businesses (SMBs) build their online presence. The company said its SMB products, website,…
Companies, Finance & Markets
CapAleph Advisors plans to raise Rs 675 crore to back entrepreneurs
CapAleph Advisors, Founded by former India Value Fund (IVFA) partner George Thomas, is planning to raise a $100-million or Rs 675-crore debt fund to back food and agriculture entrepreneurs. The debt fund, which is now much larger as compared to what CapAleph was targeting, is looking to raise cap…
BookMyShow raises INR 550 crore funding in fourth round
Mumbai, July 6: Mumbai based Bigtree Entertainment which owns and operates BookMyShow, has raised over INR 550 crores in its fourth and largest single financing round. The round was led by US based Stripes Group, and saw participation from all existing investors – Network 18, Accel Partner…
Mobile gaming startup Nazara clocks Rs 220 crore in revenues
Mobile gaming startup Nazara Games reported Rs 220 crore in revenues for FY2015-16, with the Indian market contributing 47% to the top line revenue. “We have seen an explosive growth of 40% CAGR in the past 4 years,” said Nitish Mittersain, the founder of Nazara Technologies. Mittersa…
Sri Lanka’s venture engine event attracts global investors
The annual Venture Engine event in Colombo, Sri Lanka that started as a small, local event to fund and encourage early stage companies has scaled up significantly and now attracts global investors. The 16th edition of the event held last week in Colombo attracted about 20 investors from India, US…
Companies get more leeway in taking deposits with revised norms
Government has tweaked the rules governing acceptance of deposits by companies, a move that provides more flexibility for startups in garnering funds. Besides, entities have been given more time to have deposit insurance in place. The latest amendments to certain rules under the Companies Act is …
Product and process quality key to increase in reach and exports
Micro, Small and Medium Enterprises (MSMEs) operating in the manufacturing and services sectors stand to gain significantly from quality products and processes. And as they focus more on quality, they see an increase in reach and customer confidence. Product and process quality key to increase in…
NeoGrowth gets Rs 108 crore funding from IIFL Wealth Management
NeoGrowth Credit, a specialised lender to small and medium sized retailers, has raised Rs 108 crore in a new round of funding from IIFL Wealth Management’s Seed Venture Fund besides existing investors, which include Omidyar Network, Khosla Impact and Aspada. The development comes as investo…
Race to acquire fashion portal Jabong hots up
The race to acquire Jabong is hotting up. Alibaba, Future Group, Flipkart’s unit Myntra and Aditya Birla’s e-commerce venture Abof are among those in negotiations to acquire the online fashion portal, said people with knowledge of the matter. Even Snapdeal is said to be in the fray, b…
P2P players bank on institutional lenders for growth
I-lend has stitched a partnership with Hyderabad-based non-banking finance company Star Finserve, becoming the first peer-toper online lending platform to join hands with an institutional lender while several other players including MicroGraam, Faircent and LenDenClub are in talks for similar pac…