Chinese e-commerce giant Alibaba Group is poised to announce its India entry with a data centre. The Hangzhou-headquartered company, which is planning to enter the fledgling e-commerce market in India this year, probably through an acquisition, wants to set up a local data centre to better compet…
Companies, Finance & Markets
Mobikwik offers loans to wallet users to push digital payments
Fin-tech company Mobikwik is expanding its services by offering instant micro loans to wallet users running short on balance as part of its efforts to boost digital payment usage in the country. The company, which competes with Alibaba-backed Paytm, started pilot on the project a few weeks back a…
Shopmatic ties up with Aramex
Shopmatic, a homegrown e-commerce SaaS (Software as a Service) company, on May 19 announced a strategic partnership with Aramex, a provider of comprehensive logistics and transportation solutions. The partnership will allow online merchants to deliver their products efficiently and securely, ther…
Yatra launches cab marketplace with various cab aggregators across 450 cities
One of the India’s leading online travel portals Yatra.com has launched a cab marketplace with various cab aggregators that would provide cabs across 450 cities in India. This tie-up with multiple cab service providers will help Yatra customers to book their local and inter-city transport on the …
Flipkart investor Tiger Global reduces its stake in Amazon BY 67%
Tiger Global Management, which is the largest investor in e-commerce major Flipkart , has reduced its stake in US rival Amazon by nearly 67% in the March ended-quarter. The hedge fund has cut its exposure to 1.04 million shares worth $619 million as of March 31, down from 3.19 million shares wort…
Tata invests in US-based medical emergency response startup MUrgency
Tata Sons Chairman Emeritus Ratan Tata has invested in San Francisco-based medical emergency response startup MUrgency Inc. Financial details of the deal were not disclosed. “He (Tata) clearly wanted us to launch and grow the network in India first before taking it overseas. Tata’s in…
Jugnoo re-enters hyperlocal delivery business by launching ‘Fatafat’
Jugnoo the Chandigarh-based on-demand auto-rickshaw aggregator has said to resume its hyper local delivery by launching the ‘Fatafat’ service. Learning from the failures of hyper local delivery model of other brands, the company has decided to restrict to deliver only fruits and vegetables to its…
Intel bets big on the cloud and E-commerce sectors in India
Strategic focus on e-commerce and cloud-based industries, through enhanced technology built for Software Defined Infrastructure (SDI) Accelerates robustness, security & performance of SDI platforms for key data center customers, including the latest Intel Xeon E5 2600v4 family of powerful pro…
Unbanked population to spur growth of fintech firms in Asia-Pacific| Fitch Ratings
Large unbanked population in countries such as India, and the emergence of tech-savvy middle classes in countries such as China, Indonesia and the Philippines, will offer significant growth opportunities for financial technology (fintech) companies, according to Fitch Ratings. Observing that tech…
Capital float receives ₹170 cr in Series B round
Capital Float, a leading online lender for small businesses, has raised about ₹170 crore ($25 million) in a Series B round led by Creation Investments. Existing investors Aspada, Sequoia India and SAIF Partners participated in this round that valued the company at over $100 million. This is Capit…