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China-based Cyber Carrier invests in healthcare startup MyDermacy

Health startup MyDermacy has raised an undisclosed amount of funding from Chinese venture capital firm Cyber Carrier, a statement issued by the company said. The investor has acquired 15-18% stake in the company. The round also saw participation from MyDermacy’s existing investors, the statement a...

14 March, 2017 |More »

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Qualcomm Ventures leads Series E round in IoT device maker Borqs

Borqs International Holding Corp, which operates Internet of Things (IoT) device developer Borqs, has raised an undisclosed amount in its Series E round of funding led by Qualcomm Ventures, weeks before the firm is set to undergo a reverse merger, it said in a statement. In December 2016, the compan...

14 March, 2017 |More »

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Uber founder, India head named in notice alleging bribery after road mishap

A Mumbai woman has sent a legal notice to the founder and India head of Uber Technologies Inc after a cab operated by the taxi-hailing firm hit her husband and left him comatose. The legal notice, sent by Nahid Ali through law firm MZM Legal, alleged that the cab driver and an Uber representative so...

14 March, 2017 |More »

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Weekly roundup on startup funding

As many as 13 startups received angel/seed and venture capital in the week gone by. In the biggest deal of the week, Mumbai-based gadget repair service provider Pickme E-Solutions raised $1.8 million in a fresh round of investment from SIDBI Venture Capital. Among other deals, Hyderabad-based phone ...

14 March, 2017 |More »

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After TVF trashes charges, more women allege sexual harassment by founder

A former employee’s post alleging sexual harassment against The Viral Fever (TVF) Media Labs founder and CEO Arunabh Kumar has prompted other women to come forward with similar accounts. Operated by Contagious Online Media Network Pvt. Ltd, TVF is an online digital entertainment channel. On March ...

13 March, 2017 |More »

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ShopClues co-founder Sandeep Aggarwal accuses wife of stalling his re-entry

Marital discord, it seems, has engulfed another Indian unicorn. This time around, Tiger Global-backed e-commerce marketplace ShopClues’ co-founder and former CEO Sandeep Aggarwal, who stepped down after his arrest in the US for insider trading, has accused his wife, co-founder and chief busine...

13 March, 2017 |More »

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Karnataka govt announces $1.5 mn fund for women entrepreneurs

In a move that would give a fillip to entrepreneurship among women, the Karnataka government announced a $1.5 million (Rs 10 crore) Idea2POC (idea to proof of concept) fund on International Women’s Day, a statement issued by the state government said. Priyank Kharge, the state minister for  IT (i...

10 March, 2017 |More »

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Paytm’s about-turn

India’s top digital wallet Paytm on Thursday took a U-turn on its decision to levy a 2% charge on top-ups via credit cards, which was introduced a day earlier, saying it was doing so keeping users’ convenience in mind and that it would instead put in place new mechanisms to check misuse....

10 March, 2017 |More »

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Realty consultancy Coldwell acquires property portal Favista

Real estate consultancy firm Coldwell Banker India Pvt Ltd has acquired property search site Favista.com in an all-stock deal, the company said in a statement. Favista’s assets, IP and employees will become part of Coldwell. The realty broking firm’s brokerage arm will also be absorbed by the co...

10 March, 2017 |More »

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BHIVE funding fiasco – Are there any lessons for startup entrepreneurs?

The road outside the BHIVE Workspace office was teeming with cricket fans at around 4 pm on 7 March as they waited excitedly for the return of the Indian team to The Ritz-Carlton Hotel, where it was staying, after a win against Australia in a test match. The mood inside the BHIVE office was in [&hel...

10 March, 2017 |More »

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Why govt’s proposed rules for prepaid instruments may hurt e-wallets

The government on Wednesday released draft guidelines for digital wallet companies as part of its efforts to promote electronic payments, ensure security of transactions and strengthen grievance redressal for consumers. The draft Information Technology (Security of Prepaid Payment Instruments) Rules...

10 March, 2017 |More »

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Asuka Holdings, existing investors back real estate firm Property Share

Bangalore-based Property Share, which offers investors fractional ownership of properties, has raised an undisclosed amount in a fresh round of investment led by Japanese venture capital investor Asuka Holdings, Kunal Moktan, founder and chief executive of the startup told VCCircle. Existing investo...

10 March, 2017 |More »

Paytm E-Commerce set to raise $252 mn in round led by Alibaba

What prompted Paytm to roll back 2% fee on wallet top-up via credit cards?

India’s top digital wallet Paytm on Thursday reversed the 2% levy on top-ups via credit cards it had introduced a day earlier, saying it was doing so keeping users’ convenience in mind and that it would instead put in place new mechanisms to check misuse. “We are conscious that this mo...

10 March, 2017 |More »

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Ideaspring makes its second bet on enterprise networking startup Lavelle Networks

Bangalore-based early stage venture fund Ideaspring Capital has invested $600,000 (Rs 4 crore) in enterprise networking startup Lavelle Networks Pvt Ltd, according to a report by a financial daily. The firm will use the funds to expand its operations and for marketing, Shyamal Kumar, co-founder told...

10 March, 2017 |More »

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Former Snapdeal product head backs online funding platform LetsVenture

Former chief product officer at Snapdeal Anand Chandrasekaran has invested in Bangalore-based IndiePitch Solutions Pvt. Ltd, which runs online funding platform LetsVenture, according to a press statement. LetsVenture also allows startups to get their business plans reviewed by experts and helps them...

9 March, 2017 |More »