In a move to reduce cash burn, Softbank-funded budget hotel accommodation provider, OYO Rooms has almost stopped giving minimum guarantee of occupancy, it offered to partner hotels. It now purely operates on a revenue share model, according to a top company executive. “Minimum guarantees have bee…
Tag: Start-ups
RBI proposes norms for investment in overseas start-ups
The Reserve Bank of India (RBI) on September 30 came out with a draft framework to facilitate investment in overseas technology funds which deploy money in start-ups abroad. The RBI said such investments do not meet the eligibility norms for making overseas direct investments under the automatic …
Indus Net Tech to set up start-up incubation labs
Digital solutions provider Indus Net Technologies would open an incubation lab in its premises at Salt Lake electronics complex here for nurturing and mentoring startups, one of its top official has said. “We are launching the Indus Net Labs with the aim to mentor and guide start-ups having…
Axis Bank ties up with Amazon, Visa to help startups in India
Axis Bank has partnered with internet giant Amazon’s Indian arm and also Singapore based Overseas Chinese Banking Corp’s unit to help Indian start-ups with their technology related questions. The Bengaluru based centre called Thought Factory will help Indian start-ups interact with Am…
Infosys invests in second cloud computing start-up in Israel
Infosys Ltd has invested $4 million to pick up a minority stake in Cloudyn Ltd, an Israeli company that makes software for monitoring and optimizing cloud computing, marking the Bengaluru-headquartered firm’s second investment in an Israel-based cloud-computing start-up from the company’s $500 mi…
Karnataka gets large firms to help start-ups
The Karnataka government has IBM, Amazon Web Services and Airtel to subsidise services to start-ups registered with it. Start-ups registered with the state government have access to accelerators and funding, cloud credits, discounted Internet subscription, software debugging tools, and payment ga…
Investors say Angel Tax exemption will not benefit several startups
The government’s much-lauded decision to repeal the controversial ‘angel tax’ will not benefit several startups because of the riders attached in the new regulation, industry leaders said. ‘Angel tax’, or tax on investments in startups, was considered regressive by a…
Hyderabad Angels invests Rs. 15 crore in 12 start-ups
Hyderabad Angels has committed investments to the tune of Rs. 15 crore in 12 start-ups in the financial year. “We have either deployed or are in the process of deploying the committed investments in the start-ups,”said Pradeep Mittal, Chairman. The network has about 100 investors from India, the …
e-Commerce, tech start-ups seen creating 23% more jobs by Sept | Report
The e-commerce and tech start-ups domain will see 23.6 per cent growth in jobs between April and September this year, according to the Teamlease Employment Outlook Report. This is followed by the retail sector, which is set to generate 14.4 per cent more jobs over six months. The e-commerce secto…
Investors eye health tech start-ups
Even as e-commerce ventures are seeing their valuations go down, healthcare-related tech start-ups are witnessing increasing interest from investors who are betting on higher returns and lower cash burn. HealthifyMe, a health and fitness mobile app, has raised series A funding of $6 million (abou…