Home > Articles by: Binu Paul

Author Archive ‘ Binu Paul ’

For-UrDoorstep-Story-TC_ThinkstockPhotos-486217378

Online hypermarket operator urDoorstep bags $1.4 mn

Raising its second bridge round in six months, Bengaluru-based online hypermarket operator urDoorstep Eretail Pvt. Ltd has secured $1.4 million (Rs 10 crore) in funding. While Rs 5 crore was raised as debt from Lakshmi Vilas Bank, an equal amount was invested by an unnamed high net-worth individual....

5 December, 2016 | More »

Flipkart22

Flipkart is already a leader and does not need a turnaround: Kalyan Krishnamurthy

Former Tiger Global executive Kalyan Krishnamurthy, who heads the key portfolios of retail, business development, advertising and products at Indian ecommerce firm Flipkart said he moved to the ecommerce major to stay the course rather than returning to the investment company. He said he has no imme...

5 December, 2016 | More »

VCCircle_Flipkart8

Flipkart suffers another markdown as Vanguard slashes stake value by 33%

A mutual fund managed by US-based investment firm Vanguard Group has marked down the value of its stake in Flipkart by 33%, joining another investor Morgan Stanley in cutting India’s largest e-commerce marketplace’s valuation to historically low figures. The fresh markdown by Vanguard values Fli...

2 December, 2016 | More »

myntra_fe

Myntra targets $2 bn revenue run rate, profitability in FY18

Flipkart-owned online fashion retailer Myntra said the company has crossed $1 billion in annualised run rate riding on an impressive 80% year-on-year growth, thanks to the $70 million acquisition of Rocket Internet-backed rival Jabong and the peak selling festive season sale events. “This year has...

1 December, 2016 | More »

For-Tessol-Story-VC_ThinkstockPhotos-515738556

Cold chain technology startup Tessol raises Series A funding from Infuse Ventures, Ankur Capital

Infuse Ventures, an early-stage sustainability and clean-tech fund associated with IIM Ahmedabad’s tech incubator Centre for Innovation Incubation and Entrepreneurship (CIIE) along with Ankur Capital has invested an undisclosed amount in a Series-A funding round in cold chain technology company TE...

30 November, 2016 | More »

For-Flipkart-Story-TC_Shah-Junaid

Flipkart’s valuation down to $5.57 bn after Morgan Stanley slashes value of its holding

A mutual fund managed by Morgan Stanley has marked down the value of its shares in Flipkart by 38.2% leaving India’s largest e-commerce marketplace’s valuation at $5.57 billion, nearly a third of its peak valuation of $15.2 billion last year. The fund has slashed the value of its Flipkart shares...

29 November, 2016 | More »

Meru_cabs2

Meru Cabs CEO Siddhartha Pahwa resigns, mulls starting up

Meru Cabs CEO Siddhartha Pahwa has resigned from the Mumbai-based radio taxi firm and will be replaced by CTO Nilesh Sangoi from January. The decision was first announced by Pramod Kabra, partner at India Value Fund Advisors (IVFA), Meru’s biggest investor, in an email to Meru’s top brass. Later...

29 November, 2016 | More »

Knudge

Ed-tech startup Knudge.me selected for Facebook’s FbStart programme

Bangalore-based micro learning mobile platform Knudge.me has been selected for Facebook’s FbStart programme, which is designed to help early-stage mobile startups build and grow their apps. Under the bootstrap track programme, the startup will receive services and credits worth $40,000 from Facebo...

25 November, 2016 | More »

funding

Exclusive: Ideal Insurance’s upcoming online platform gets funding

Kolkata-based insurance broking firm Ideal Insurance is all set to launch an online insurance platform christened 121Policy.com that will primarily focus on health insurance. The company has raised an undisclosed amount from former Just Dial chief technology officer Sandipan Chattopadhyay’s techno...

25 November, 2016 | More »

Ola

Ola, Uber drivers go on strike in Guwahati over shrinking incentives

Drivers of Ola and Uber started a 36-hour-long strike in Guwahati to protest against their decreasing income as the taxi-hailing firms continue to acquire more cabs. Around 12,000 cabs are off the road in the city, according to a report by news agency ANI. “Our demands should be fulfilled because ...

24 November, 2016 | More »