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Author Archive ‘ Dearton Thomas Hector ’

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‘Large’ India investment weighs on Amazon Inc’s bottom line

US-based Amazon Inc’s loss from international business widened to $487 million for the quarter ended 31 December 2016 compared to $108 million in the same period in 2015, as heavy investments in India, and aggressive spend on digital content and setting up warehouses weighed on the bottom line. Du...

3 February, 2017 | More »

Amazon plans online food venture in India

Amazon plans online food venture in India

US-based Amazon.com Inc has reportedly sought government of India’s approval to launch a wholly-owned online venture which can stock and sell food products in the country. Amazon is planning to invest $500 million for this project and has applied to the Department of Industrial Policy and Promotio...

3 February, 2017 | More »

In U-turn, NPCI tells PhonePe to adhere to UPI norms

ICICI Bank allows UPI transactions through Flipkart’s PhonePe

After weeks of confusion and a near-verbal spat between Flipkart’s e-wallet PhonePe and ICICI Bank, the private sector lender has finally allowed UPI-based transactions on the payments app. “The merchant has now adhered to the NPCI guidelines on interoperability by making the necessary corre...

2 February, 2017 | More »

UBER007

Uber takes on Karnataka govt, says UberPOOL legal

In the ongoing tussle with the Karnataka state transport department, cab aggregator Uber has defended its ride-sharing service UberPOOL, saying it is legal under the current regulatory framework. On Monday, the state transport department instructed Uber and its rival Ola to halt their ride-sharing s...

2 February, 2017 | More »

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Notesgen raises additional funding from GHV, existing investors

Delhi-based Notesgen Technologies Pvt Ltd, which runs peer-to-peer ed-tech startup Notesgen, has raised an additional Rs 1 crore ($148,000) in angel funding from GHV accelerator and existing angel investors, the company said in a statement. Notesgen had previously raised Rs 1 crore from angel invest...

1 February, 2017 | More »

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French e-payments firm to buy fintech firm TechProcess

French e-payments firm Ingenico Group has agreed to buy Mumbai-based TechProcess Payment Services Ltd, the companies said on Tuesday, as Indian fin-tech companies continue to attract investors. The companies didn’t disclose the deal value, but a person associated with the transaction told Techcirc...

31 January, 2017 | More »

Heads Up For Tails

Pet products portal Heads Up For Tails raises $2 mn from HNIs

Delhi-based luxury pet products portal Heads Up For Tails (HUFT) has raised $2 million (Rs 13.6 crore) from a group of high net worth individuals (HNIs) in a pre-series A round of funding, the company said in a press statement. With this funding, the startup plans to upgrade its technology and expan...

31 January, 2017 | More »

UberEATS

With UberEATS, is Uber biting off more than it can chew?

Online food delivery is a tricky space for Indian startups, what with intense competition, wafer-thin margins and a funding drought that shows no signs of a let-up. So it was a bit of a surprise when San Francisco-based Uber, the world’s biggest startup by valuation, announced last week that i...

30 January, 2017 | More »

Vani Kola, MD, Kalaari Capital

Snapdeal investor Vani Kola joins Flipkart, Ola in ‘capital dumping’ debate

In December last year, Sachin Bansal, co-founder of India’s largest e-commerce company Flipkart and Bhavish Aggarwal, co-founder of ride hailing service Ola hit out at foreign-origin firms on their capital dumping practices and asked the government for a ‘level- playing field’ for India’s st...

30 January, 2017 | More »

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Amazon expands grocery delivery service in India to 14 cities

The Indian unit of Amazon.com Inc has increased the number of cities where it delivers grocery and household items to 14, the company said on its website. The service, Amazon Pantry, was earlier only available in Hyderabad when it was launched as a pilot last July. An Amazon spokesperson confirmed t...

27 January, 2017 | More »