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Exclusive: China’s Tencent close to investing more than $150 mn in FreeCharge

Snapdeal, India’s third-largest e-commerce venture is in talks with Chinese Internet giant Tencent to raise more than $150 million for its digital payments platform FreeCharge, a person close to the development told VCCircle. “Tencent and FreeCharge have had intense discussions over the past two...

31 August, 2016 | More »

Tapan Barman

Personal mobile assistant app Mihup secures $6.7 mn from Accel Partners

Kolkata-based Mihup Communications Pvt Ltd, which operates an artificial intelligence-based personal mobile assistant app, has secured over Rs 45 crore ($6.7 million) from Accel Partners. The VC firm is picking up 20% stake in the startup. Besides Accel, Stayzilla’s chief technology officer and f...

31 August, 2016 | More »

Flyrobe

Fashion rental startup Flyrobe gets $5.3 mn from IDG Ventures and others

On-demand fashion rental platform Flyrobe has raised $5.3 million (about Rs 35 crore) in a Series A investment round led by IDG Ventures. Tokyo-based GREE Ventures and existing investor Sequoia Capital also participated in this round, the startup said in a statement. Paytm founder Vijay Shekhar Shar...

31 August, 2016 | More »

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Exclusive: Matchmaking app Inclov gets funding from Quintillion Media

Gurgaon-based matchmaking app for differently abled Inclov has raised Rs 1 crore (around $149,000) in a seed round of funding from Sarbvir Singh, former MD of Capital 18, and media entrepreneur Raghav Bahl-led digital news venture Quintillion Media Pvt. Ltd, a person privy to the development told Te...

30 August, 2016 | More »

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Doctors networking app Curofy appoints former LimeRoad exec as product head

Gurgaon-based 911 India Healthcare Pvt. Ltd, which operates networking app for doctors Curofy, has appointed former LimeRoad executive Abhishek Sharma as vice president of products. Sharma will be responsible for user experience, Curofy said in a statement. The appointment is likely to fast-track Cu...

30 August, 2016 | More »

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Delhi High Court ponders over discounts by Ola, Uber

“Consumer is the king”, the Delhi High Court said today while observing that it cannot say lower charges should not be levied and discounts not given to customers by app-based cab providers like Ola and Uber. Justice Manmohan said if a company gave discounts, then the customers benefited...

30 August, 2016 | More »

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Exclusive: Paytm valued at $4.8 bn in new funding round

One 97 Communications Ltd, which runs mobile payments and e-commerce platform Paytm, has received commitment of $60 million (Rs 403 crore) from Taiwanese chipmaker MediaTek Inc.’s Mountain Capital fund as part of its ongoing fundraising exercise. A person directly familiar with the development...

29 August, 2016 | More »

Runnr

Food delivery startup Runnr gets $7 mn from Blume, Nexus and others

Food delivery platform Runnr has raised $7 million (Rs 47 crore) from existing investors Blume Ventures and Nexus Venture Partners, according to a report. Sequoia Capital, another existing investor in Runnr, didn’t take part in this round, The Times of India reported citing three people familiar w...

29 August, 2016 | More »

Mrinal Sinha

We are neck and neck with Paytm: MobiKwik’s Mrinal Sinha

Digital wallet firm MobiKwik is betting big on the offline space and expects the biggest chunk of its business coming from this segment in the next 18-24 months. The Gurgaon-based company aims to increase the number of users almost five-fold within two years and says it is set to cross $2 billion in...

29 August, 2016 | More »

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South African payment firm Net1 to invest $40 mn in MobiKwik

NASDAQ-listed South African payment solutions and transaction processing company Net 1 UEPS Technologies Inc. has signed a subscription agreement with India’s digital wallet firm MobiKwik. As part of the partnership, Net1 will invest $40 million in MobiKwik, and will integrate its Virtual Card...

26 August, 2016 | More »