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Rural India to drive next phase of growth in internet usage: IMAI-IMRB report

Despite a moderation of growth in urban internet usage, the number of Indian users will cross 450 million by June, says a report, Internet in India 2016, jointly published by Internet and Mobile Association of India and Indian Market Research Bureau. The report says while urban India has close to 60...

2 March, 2017 | More »

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Simplilearn is education company of the year: VCCircle Awards

Ed-tech firm Simplilearn Solutions Pvt. Ltd has won the News Corp VCCircle education company of the year award for 2017 for the business innovation it has demonstrated and the progress it has made on the global expansion front. The eminent jury, chaired by Arun Duggal, chairman of ratings agency ICR...

2 March, 2017 | More »

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Forest fire blazing through Indian startup ecosystem: Inventus’ Kanwal Rekhi

Kanwal Rekhi, co-founder and managing director at VC firm Inventus Capital Partners, has been a known sceptic of the capital-intensive model of India’s e-commerce companies. At the News Corp VCCircle LP Summit 2017 in Mumbai, he was in sublime form, mincing no words when quizzed about issues p...

1 March, 2017 | More »

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Morgan Stanley trims Flipkart valuation to $5.39 bn

Indian e-commerce firm Flipkart has suffered its second markdown in as many months with a mutual fund managed by Morgan Stanley slashing the value of its stake in the company by 3%. According to filings with the US Securities and Exchange Commission (SEC), a Morgan Stanley fund lowered the value of ...

28 February, 2017 | More »

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Exclusive: Agri-tech startup Paalak.in raises seed funding

Delhi-based VDSS Agri Tech Pvt. Ltd, which owns and operates agri-tech startup Paalak.in, has raised an undisclosed amount in seed funding from a clutch of angel investors as it looks to expand and strengthen its IT infrastructure. The angels who participated in the round include Vishwadeep Bajaj, C...

28 February, 2017 | More »

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Exclusive: Fashion search platform SeenIt raises pre-Series A funding

SeenIt Online Pvt. Ltd, a Kolkata-based startup that operates artificial intelligence-powered fashion search platform SeenIt.in, has raised an undisclosed amount in pre-Series A funding from Calcutta Angels Network (CAN) and Augment Ventures, the company’s co-founder Saksham Karwal told News C...

28 February, 2017 | More »

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ShopClues appoints former Zopper, Reliance execs to lead marketing, HR

E-commerce firm ShopClues has appointed Zopper executive Harneet Singh as vice president of marketing and Reliance executive Babu Vittal as head of human resources, a statement issued by the firm said. “Both of them come with solid experience in their respective fields and we look forward to the p...

28 February, 2017 | More »

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What’s firing up Infibeam

India’s e-commerce story is a familiar one—cash burn, negative unit economics and a pipe dream called profitability, all in the name of customer acquisition. But Ahmedabad-based Infibeam Incorporation Ltd, the country’s first online retailer to go public, has scripted a growth story th...

28 February, 2017 | More »

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Delhivery in talks to raise $100 mn from Carlyle, Fosun

Gurgaon-based ecommerce logistics firm SSN Logistics Pvt. Ltd, which operates under the brand Delhivery, is in advanced talks to raise $100 million (around Rs 667 crore) led by private equity firm The Carlyle Group with participation from Chinese conglomerate Fosun, according to a media report. If t...

28 February, 2017 | More »

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Hotel solutions provider Hostmaker raises $6.5 mn from Ventech, others

Hospitality management services startup Hostmaker.co has secured $6.5 million (Rs 43.37 crore) in Series A funding led by Paris-based venture capital fund Ventech and existing investor DN Capital, the company said in a press statement. The round also saw the participation of DSG Consumer Partners. L...

28 February, 2017 | More »