One of the world’s biggest providers of cloud computing services in the world, Amazon Web Services (AWS), launched two data centres in Mumbai on June 28. The new AWS Mumbai Region consists of two separate Availability Zones, data centres in distinct locations within a single region that can funct…
Companies, Finance & Markets
Lendingkart raises INR 205 crores in Series B funding
Lendingkart Group, India’s leading digital lending platform for SMEs, has raised INR 205 crores (USD 32m) in new financing; out of which USD 20m was raised as equity and USD 12m as debt. This Series B round was led by Bertelsmann India Investments (BII), with participation from Darrin Capital Man…
Three SME IPOs to hit capital markets this week
As many as three companies will come out with initial share sale to raise around Rs 17 crore this week. The Initial Public Offerings (IPOs) of Kwality Pharmaceuticals, Titanium Ten Enterprise and Commercial Synbags will open for subscription from June 30. These companies will get listed on BSE…
Ola signs MoU with Haryana to create 10,000 entrepreneurs in the state
Ola, India’s leading mobile app for transportation, has signed a Memorandum of Understanding (MoU) with the Government of Haryana, to create over 10,000 entrepreneurs in the state. As part of the MoU, Ola will invest Rs. 350 crores over the next five years to skill and train thousands of men and …
Prem Watsa’s company is on a Quess to achieve 25,000 deliveries
Canadian billionaire Prem Watsa-controlled Quess Corp, which recently entered the logistics business to cash in on the ecommerce boom, is targeting 25,000 deliveries a day. The Bengaluru-based business services provider has set up a logistics arm called Dependo Logistics to serve ecommerce client…
Robotics firm GreyOrange to ramp up global operations for contributing 70% to its revenues
Robotics firm GreyOrange is looking at strengthening its international presence and hopes to ramp up non-India operations to contribute about 70% of its revenues, up from the present 30%. “After starting operations in Japan, Hong Kong and Singapore last year, we are looking at entering the …
WaterBridge is ready to venture out with $15 million
Private equity veteran Manish Kheterpal has floated a $15-million (about .`100 crore) early-stage fund, Water-Bridge Ventures, the latest instance of a new fund launch in an increasingly competitive space. The Sebi-registered, India-domiciled fund, which will focus on the pre-Series A to Series-A…
Paytm to help SMEs get products from China
Digital payments and e-commerce platform Paytm is working with sellers in India to help them source products from neighboring China, according to a senior company official. While the company has already started sourcing products under the fashion accessory category on a pilot basis, it plans to a…
Shopclues expects over two-fold jump in gross merchandise volume sales
E-commerce company Shopclues expects to register more than two fold jump in Gross Merchandise Volume (GMV) from its platform at $3 billion (about Rs 20,000 crore) by the end of current financial year. “We are planning to close financial year 2016-17 at annualised GMV rate of $ 3 billion,…
Uber unveils upfront fare
Taxi-hailing app Uber is giving a new name to surge pricing — upfront fare. Uber hopes that by showing fares to customers before booking a ride, a practice it follows for shared rides on its platform, it can be more successful. Uber says it is able to predict the fare for a trip by having [&helli…