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Author Archive ‘ Dearton Thomas Hector ’

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Foodpanda India loss quadruples, revenue shoots up

Rocket Internet-backed food delivery firm Foodpanda India said on Friday its loss widened in 2015-16 but that it is working to achieve profitability. Loss for the financial year ended March 2016 quadrupled to Rs 142.6 crore from Rs 36 crore the year before, the food-tech firm said in a statement. Re...

9 December, 2016 | More »

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Flipkart’s Sachin Bansal and Ola’s Bhavish Aggarwal take potshots at ‘non-Indian’ firms

As the country’s internet and mobile economy is booming in a battle for ideas and capital, Indian founders of startups are increasingly taking aggressive stands against foreign-origin firms. Sachin Bansal, co-founder of India’s biggest e-commerce firm Flipkart and Bhavish Aggarwal, co-founder of...

7 December, 2016 | More »

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Digital lending platform ZestMoney raises $6.5 mn from PayU, others

Chalk Farm Ventures Pvt. Ltd, which runs consumer lending startup ZestMoney, has raised $6.5 million (Rs 44 crore) in a Series A round of funding led by Naspers-owned online payments firm PayU. Existing investors Ribbit Capital and Omidyar Network also participated in the round, a person directly aw...

7 December, 2016 | More »

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Online investment advisory startup WealthApp gets $440K from angel investors

Bengaluru-based online investment advisory startup WealthApp Financial Advisors Pvt Ltd has secured Rs 3 crore ($440,000) in angel funding from investors including NuVentures managing partner Venk Krishnan and Daksh eServices co-founder MJ Aravind. Vikram Kotak, managing partner at Crest Capital and...

7 December, 2016 | More »

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Uber to buy Geometric Intelligence to strengthen its AI wing

US- based ride-hailing app Uber Inc. on Monday made two significant announcements in its blog. The first was its creation of a new division for artificial intelligence (AI), called AI Labs, to be based in San Francisco. The second announcement was that Uber is acquiring an AI startup Geometric Intel...

6 December, 2016 | More »

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Amazon rolls out Launchpad to support startups in India

US-based Amazon.com Inc’s India subsidiary has launched its global programme for startups, Amazon Launchpad, in the country. Indian startups can market their products under this programme to Amazon customers across the country and the world through an e-store, the company said in a statement on Mo...

6 December, 2016 | More »

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Logistics app TYGR raises $3 mn pre-Series A funding from Franchise India

Kolkata-based Savetur Digital Pvt Ltd, which runs logistics app TYGR, has secured a pre-Series A round of funding worth $3 million (around Rs 20.4 crore) from Franchise India, it said in a statement. The app was launched by Dipanjan Purkayastha, an alumnus of SP Jain School Management and Aditya Pod...

2 December, 2016 | More »

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Quikr’s FY16 loss widens; other income props up revenue

Online classifieds site Quikr India Pvt. Ltd posted a wider loss for the year through March 2016, but the pace of increase slowed sharply as it controlled its expenses after expanding at a breakneck pace in previous years. Net loss for 2015-16 expanded to Rs 534 crore from Rs 446 crore the year befo...

2 December, 2016 | More »

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Corporate training SaaS platform HandyTrain gets $1 mn

Goa-based Handy Training Technologies Pvt Ltd, which owns HandyTrain, a Software-as-a-Service (SaaS) platform on mobile, has secured $1 million from various investors, according to a company press statement. HandyTrain is a platform that lets companies create and deploy programmes to train 50 to 25,...

1 December, 2016 | More »

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Facebook selects fashion startup CoutLoot for FbStart programme

Mumbai-based used-apparel reselling platform CoutLoot has been selected by US-based social media behemoth Facebook Inc. as part of their FbStart programme. CoutLoot will be part of Facebook’s developer-focused programme, which is designed to help early-stage mobile-focused startups on building and...

1 December, 2016 | More »