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PayPal to acquire international digital money transfer firm Xoom

Friday, July 3, 2015 | More »

Online payments company PayPal Inc has acquired Nasdaq-listed Xoom Corp, a digital money transfer provider with operations in India, for an overall consideration of $890 million. The transaction, which values each Xoom share at $25, represents a premium of 32 per cent over Xoom’s three-month v...


Mobile P2P marketplace for used cars Zoomo raises $5M from existing investors SAIF Partners

Zoomo, a P2P mobile marketplace for buying and selling used cars, has secured Rs 32 crore (around $5 million) in funding from existing investor SAIF Partners. Bangalore-based YoungMonk Technologies Pvt Ltd, which owns and operates Zoomo, will use the money to expand operations and to improve technol...

2 July, 2015 |More »


Angel investors and VC firms are now investing in an Indian startup every 10 hours

The hectic pace of early-stage investment activity in India has gone up by a few notches as angel investors and venture capital firms are falling over each other, hoping to bet on the next multi-million dollar—if not the billion dollar—valued startup. So much so that now on an average every 10 h...

2 July, 2015 |More »

Prashan Agarwal

PropTiger co-founder Prashan Agarwal floats used-car marketplace 19miles

Prashan Agarwal, who had co-founded online real estate services portal PropTiger, has floated a new startup that would act as a curated peer-to-peer transaction marketplace for buying and selling used cars. Chistened 19miles, the newly started firm has also secured Rs 2.5 crore in funding from an un...

2 July, 2015 |More »


IoT-based energy management startup Zenatix raises $200K from Snapdeal founders and others

Zenatix, an Internet of things (IoT)-based energy management startup, has raised around Rs 1.27 crore ($200k) in seed funding from Snapdeal co-founders Rohit Bansal and Kunal Bahl, Google Southeast Asia head Rajan Anandan and a clutch of other investors. Trifecta Capital MD Rahul Khanna, Investopad ...

2 July, 2015 |More »


Reliance Industries to invest $39B in digital space

Reliance Industries will make an investment of over Rs 250,000 crore in the digital space, including rollout of wireless broadband infrastructure and manufacturing of mobile handsets, its chairman Mukesh Ambani said on Wednesday. Speaking at the launch of Digital India Week here, Ambani, whose $16 b...

2 July, 2015 |More »


Ratan Tata invests in country’s largest cab aggregator Ola

Ratan Tata, chairman emeritus of Tata Sons, has made a personal investment in the country’s largest cab aggregator Ola, as per a press statement. Financial details of the funding are not disclosed. Bhavish Aggarwal, CEO and co-founder of Ola, which is run by Mumbai-based ANI Technologies, said, &#...

1 July, 2015 |More »


Data centre firm NxtGen raises $13.5M from IFC, Axon Partners Group, Intel Capital

Bangalore-based IT infrastructure services provider NxtGen Datacenter & Cloud Technologies Pvt Ltd has raised $13.5 million (Rs 86 crore) from International Finance Corporation (IFC), private sector lending arm of the World Bank, Axon Partners Group and existing investor Intel Capital. The money...

1 July, 2015 |More »


Jabong’s owner GFG raises $168M from existing investors AB Kinnevik and Rocket Internet

Global Fashion Group (GFG), the holding company of Gurgaon-based lifestyle fashion and apparel e-tailer Jabong.com, has raised €150 million ($167.7 million) from existing investors AB Kinnevik and Rocket Internet. GFG will use the money to strengthen its fulfilment, marketing and product developme...

1 July, 2015 |More »


On-demand electronics services startup HandyHome secures $500K from Bessemer, Kae Capital

On-demand electronics services startup HandyHome.in has raised Rs 3.2 crore ($500K) in seed funding from Bessemer Ventures and Kae Capital. The deal was closed in the second week of June 2015, as per a press statement. Mumbai-based Handy Home Solutions Pvt Ltd, which operates the portal, will use th...

1 July, 2015 |More »

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