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PayTunes raises $500K from CIO Angel Network, IAN and others

Mobile advertising platform PayTunes, operated by New Delhi-based Real Time Networks Pvt Ltd, has secured almost $500,000 (Rs 3.35 crore) in a pre-Series A funding round that was jointly led by existing investor CIO Angel Network and the Indian Angel Network (IAN). Apurva Parekh, executive director ...

10 June, 2016 | More »

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Exclusive: U2opia Mobile rolls out accelerator programme for startups

Singapore-based mobile value-added services (VAS) firm U2opia Mobile Pte Ltd has rolled out a launchpad accelerator programme for startups in India. The company plans to invest over $3 million in the next three years in the programme christened Catapult. “Given that the investment sentiment in the...

10 June, 2016 | More »

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Exclusive: Paytm’s payments bank VP Vikas Purohit quits

Vikas Purohit has quit mobile wallet and e-commerce firm Paytm’s upcoming payments bank barely seven months after joining as vice president, a person familiar with the development told Techcircle. Purohit’s last day at the company is this week, the person said, asking not to be named. The reason...

8 June, 2016 | More »

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Exclusive: Uber seeks licence in Karnataka; authorities refuse to accept application

Cab-hailing firm Uber has applied for a licence to operate in Karnataka under the new rules governing app-based taxi aggregators, but the company hit a roadblock after the state transport authorities refused to accept the application. The San Francisco-based cab aggregator on Tuesday approached Karn...

8 June, 2016 | More »

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Kae Capital, others invest in app for buying and selling second-hand goods ListUP

Mumbai-based Gijutsu Solutions Pvt. Ltd, which operates peer-to-peer (P2P) app for buying and selling second-hand goods ListUP, has raised $500,000 (Rs 3.3 crore) in funding led by Kae Capital, it said in a statement. Kunal Shah (chairman, FreeCharge) and Sandeep Tandon (Tandon Group) also particip...

8 June, 2016 | More »

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MobiKwik scraps 6% annual profit scheme

Mobile wallet MobiKwik has scrapped a scheme that promised a so-called annual profit to its users after regulatory intervention, less than a week after announcing the offer. Gurgaon-based One MobiKwik Systems Pvt Ltd had only last week announced a plan to offer 6% annual profit to users who maintain...

7 June, 2016 | More »

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Meet the five startups selected for Oracle’s accelerator programme

A fin-tech company, an augmented reality solutions company and a mobile-first automated employee on-boarding platform are among the five startups selected by computer technology giant Oracle for the maiden edition of its startup accelerator programme. Christened Oracle Startup Cloud Accelerator Prog...

6 June, 2016 | More »

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Ola may become the first licensed app-based cab aggregator in India

Cab aggregator Ola, run by ANI Technologies Pvt. Ltd, is likely to get a licence from the Karnataka state road transport authority within a few days to operate app-based ride-hailing services in the state. This comes two months after the state government implemented the Karnataka On-demand Transport...

6 June, 2016 | More »

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How India tuned into Hotstar to watch IPL 2016

A 100 million people watched the Indian Premier League (IPL) this year on video over-the-top (OTT) platform Hotstar, with 61% of the viewers watching the cricket tournament on their mobiles. Launched last February during the ICC Cricket World Cup, Star India Pvt Ltd-owned Hotstar has seen a steady i...

6 June, 2016 | More »

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Exclusive: Intra-city truck aggregator GoGo Truck raises seed funding

Chennai-based mini-truck aggregator GoGo Truck, run by Fruges Ventures Pvt. Ltd, has raised seed funding from a Madurai-based angel investor. The online marketplace, which focuses on intra-city transport, has raised Rs 50 lakh (around $74,400), Vasister Arun, co-founder, GoGo Truck, told Techcircle....

3 June, 2016 | More »