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Bhavin Turakhia to invest $25 mn more in enterprise messenger Flock

Billionaire Bhavin Turakhia plans to invest $25 million in enterprise team messenger app Flock to enhance product innovation and meet global demand, the company said in a statement. As the company closes in on US-based Slack, which offers a chat and messaging app for businesses, for a larger share o...

16 March, 2017 |More »

Laundry

PickMyLaundry acquires OneClickWash in all-cash deal

New Delhi-based PML Solutions Pvt Ltd, which runs on-demand dry cleaning and laundry services provider PickMyLaundry, has acquired subscription-based laundry and dry cleaning startup OneClickWash for an undisclosed amount in an all-cash deal. The acquisition will help PickMyLaundry to leverage OneCl...

16 March, 2017 |More »

Rewards startup

Rewards startup m.Paani raises $1.35 mn from IDG Ventures, others

Loyalty rewards app mPaani Solutions Pvt Ltd has raised $1.35 million in its pre-series A investment round led by IDG Ventures, Blume Ventures and Saha Fund, the company said in a statement. Existing investors Adil Allana of The Allana Group, Aprameya Radhakrishna, co-Founder of Taxiforsure, and ser...

16 March, 2017 |More »

Flipkart

Flipkart may raise $1.5 bn from Tencent and eBay

Homegrown e-commerce major Flipkart is in talks to raise $1.5 billion (Rs 10,000 crore) from Chinese Internet giant Tencent and US-based online selling platform eBay, a report in a financial daily stated citing three people aware of the development. The transaction may see Flipkart merge or acquire ...

16 March, 2017 |More »

Tolexo

Online business goods marketplace Tolexo shuts down retail B2B wing

Noida-based IndiaMART InterMESH Ltd is shutting down the retail B2B wing of its online business goods marketplace Tolexo due to flagging sales and underperformance following the government’s demonetisation move, Dinesh Agarwal, the company’s founder and chief executive, told VCCircle. Ag...

16 March, 2017 |More »

Puru-Vashishtha

Franklin Templeton-backed fintech firm Deal4Loans rebrands to Wishfin, eyes M&A

Lending marketplace Deal4Loans, run by Noida-based Mywish Marketplaces Pvt. Ltd, has rebranded to Wishfin as the company looks to bring loans, mutual funds and insurance products under one platform. While Deal4Loans will continue to facilitate loan disbursals, the core offerings (personal, home and ...

15 March, 2017 |More »

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YourNest names Revvx’s Satish Mugulavalli as director of technology

Early stage venture capital firm YourNest has appointed Satish Mugulavalli as director of technology, it said in a statement. Mugulavalli – who earlier co-founded Revvx IoT Hardware Accelerator – will work closely with the fund to identify deep tech investments in areas such as IoT (Internet of ...

15 March, 2017 |More »

Close-free2

Exclusive: Last-minute hotel booking startup RoomsTonite shuts down

RoomsTonite, a mobile app for last-minute hotel bookings, has closed down operations as funds dried up following a failed $1.5 million fundraising bid, two persons familiar with the development told VCCircle. The startup decided to draw the curtain around eight months ago when operating costs began ...

15 March, 2017 |More »

Sexual-harassment

Are startups and investors doing enough to check sexual harassment?

Early this week, several women alleged sexual harassment by Arunabh Kumar, founder and chief executive of digital entertainment channel The Viral Fever (TVF). The issue has brought to spotlight low compliance levels at Indian startups when it comes to guidelines on prevention of sexual harassment at...

15 March, 2017 |More »

Amar Arsikere

Big data company Infoworks raises $15 mn from Centerview Capital, Nexus

Data warehousing company Infoworks.io Inc. has raised $15 million (Rs 98 crore) in its Series B round of investment led by Centerview Capital Technology. Existing investor Nexus Venture Partners also took part in this round, Infoworks said in a statement. As part of the investment, Ned Hooper, partn...

15 March, 2017 |More »

Stayzilla’s co-founder Yogendra Vasupal

Stayzilla co-founder Vasupal arrested on vendor’s complaint

Yogendra Vasupal, the co-founder and chief executive of Chennai-based homestay booking startup Stayzilla, has been arrested by the police on allegations of non-payment of dues by an advertising agency the company worked with. The development comes barely weeks after Stayzilla shut down its operation...

15 March, 2017 |More »

Sanjay Sethi and Radhika Aggarwal

ShopClues investors rally behind Radhika and Sanjay in battle against Sandeep Aggarwal

ShopClues investors have rallied behind the firm’s management led by Radhika Aggarwal and Sanjay Sethi in their showdown with founder and former CEO Sandeep Aggarwal—the estranged husband of Radhika—who went public about their marital discord and accused her of stalling his re-entry into the c...

14 March, 2017 |More »

Home services startup Frapperz raises $100K in seed funding

Home services startup Frapperz raises $100K in seed funding

On-demand home services provider Frapperz has raised $100,000 (Rs 66.6 lakh) in seed funding from a group of investors led by an Australia-based healthcare entrepreneur. The mobile platform, owned and operated by NumeroSeven Technologies Pvt Ltd, has recorded over 10,000 active downloads, the startu...

14 March, 2017 |More »

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Exclusive: Flipkart appoints commerce platform finance head as CFO

Homegrown e-commerce major Flipkart has elevated Sriram Venkataraman, the chief financial officer of its commerce platform as the company’s finance chief. Venkataraman took over as CFO in January, a spokesperson told VCCircle, adding that this was part of the organisational changes made that month...

14 March, 2017 |More »

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Existing investor Blume Ventures criticises BHIVE co-founder over funding controversy

Karthik Reddy, co-founder and managing director of early-stage venture capital firm Blume Ventures, has questioned Shesh Rao Paplikar, co-founder and chief executive of coworking space startup BHIVE, for going public over a funding controversy involving a well-known VC firm. Blume Ventures is an exi...

14 March, 2017 |More »