“Manufacturing sector drives momentum; Maharashtra & Gujarat big traffic drivers” Blockbusters are not the sole preserve of Bollywood. Mumbai is home to another creative blockbuster in the making. Most importantly this blockbuster is taking shape on the might of the small scrip. Small and med…
Companies, Finance & Markets
Logistics tech start-up Delhivery may rake in $100 mn in pre-IPO funding
Mumbai: Five-year-old e-commerce logistics startup, Delhivery may close a $100 million or Rs 670 crore pre-IPO fund raise which has attracted the interest of private equity biggie Carlyle group, China’s Fosun and Goldman Sachs Investment Partners, people familiar with the matter. The Gurgao…
True Balance raises Rs 100 cr in funding from Softbank Korea
Mobile balance management app, True Balance has raised Rs 100 crore in Series B round of funding. The round was led by SoftBank Ventures Korea investors including IMM Investment, Mega investment, Korea Development Bank, and Capston Partners. The company will be using these funds to improve user c…
Micromax to set up $100 mn fund to invest in start-ups
New Delhi: Micromax is setting up an independent fund which will raise upto $100 million (Rs 680 crore), aimed at investing in consumer Internet companies across the world that have relevance to the Indian market. The fund, in which the leading home-bred handset maker will be the anchor investor,…
Stellaris hits first close for $100 mn fund
Mumbai: After a year of breaking away from Helion Venture Partners — one of the country’s oldest venture funds — Ritesh Banglani, Alok Goyal and Rahul Chowdhri have managed the first close of their $100 million (Rs 680 crore) maiden fund which will back domestic early-stage startups. Stella…
Centre pumps Rs 820 cr in NE sericulture industry
Shillong: Union Textile Minister Smriti Irani announced infusion of Rs 820 crore in sericulture in the North East region to boost employment opportunities to nearly four lakh families of which 70 per cent are women. “The Government of India is in a position to support sericulture in the reg…
Small sellers get new tools at Amazon
Bengaluru: Online marketplace Amazon India has expanded the scope of Amazon Service Providers Network (ASPN) by increasing the number of services to 10 from three to woo small sellers to boost their sales on the platform. The services, which include imaging, advertising and logistics, has seen 45…
e-Commerce funding falls to 3-yr low of $300 mn
Money raised by internet companies dropped to a three-year low in the December quarter, with less than $300 million coming in. In fact, funds were hard to come by in 2016 and the $2.7 billion that was invested was 50% lower than the amount invested in 2015. For a perspective on how cautious inves…
FreeCharge gets Rs 390 cr top-up from Snapdeal’s parent company
Jasper Infotech has pumped in close to Rs 390 crore into FreeCharge, at a time when the Gurgaon-based unicorn is in the process of closing a substantial equity financing round for its digital payments platform. The latest capital infusion received by FreeCharge Payment Technologies was declared b…
RBI pulls up Religare arm over lending norms
Mumbai: The RBI has pulled up Religare Finvest, the NBFC arm of Religare Enterprises, for outstanding loans of Rs 1,156 crore to entities which were given under the “influence of its promoters”, flouting lending guidelines and corporate governance norms. The Singh brothers, Malvinder …