National News

Huawei under investigation for alleged trade secret theft

Federal prosecutors are investigating Huawei Technologies, the world’s largest telecommunications equipment maker, for allegedly stealing trade secrets from US businesses and could soon issue an indic

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Rs 4,241 crore project on I-T filing goes to Infosys

New Delhi: The government on Wednesday said IT major Infosys will develop the next-generation income tax filing system for Rs 4,241.97 crore which will cut down the processing time for returns to one

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New twist to Essar tale, SBI seeks to sell Rs 15,000 cr bad loans

New Delhi: Adding a fresh twist to the tale, the lead banker in the committee of creditors (CoC) overseeing the Essar Steel insolvency resolution process has decided to recover its share of dues from

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Epigamia Raises $25.58 Mn In A Series C Round Led By Verlinvest And Danone Manifesto Ventures

Mumbai-based fresh FMCG products company Drums Food International, the parent company of Epigamia, has raised $25.58 Mn (INR 182 Cr) in a Series C round of funding led by Belgium-based consumer-focuse

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Flipkart Receives $200.8 Mn Investment From Its Parent Co

The wholesale arm of the Walmart-owned Flipkart — Flipkart India Private Ltd — has received an investment of $200.8 Mn (INR 1,431 Cr) from its Singapore-based parent entity, Flipkart Private Limited.

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Online Insurance Startup Turtlemint Raises $25 Mn From Sequoia

Mumbai-based online insurance startup Turtlemint has reportedly raised $25 Mn (INR 178 Cr) in a fresh funding round which was led by its existing investor Sequoia Capital. Other existing investors suc

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Govt’s Tough Stand On Ecommerce FDI May Put A Stop To Amazon’s Food Sales In India

Ecommerce platform Amazon’s food retail arm Amazon Food will stop selling products through its website if the government does not modify the foreign direct investment (FDI) guidelines by next month.

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RBI To Check WhatsApp Pay’s Adherence To Data Localisation Norms, Says SC

Supreme Court on Monday (January 14) ordered that the Reserve Bank of India (RBI) be made a party to a petition pertaining to the case to check Facebook-owned WhatsApp’s adherence to data localisation

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Hotstar Earmarks $16.9 Mn For Launch Of Original Content, Hotstar Specials

In a bid to compete with both the domestic and foreign over-the-top (OTT) players, Mumbai-based video streaming provider Hotstar announced the launch of its original content vertical called Hotstar Sp

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Etihad to raise stake in cash-strapped Jet Airways: source

Abu Dhabi: Etihad Airways plans to hike its stake in debt-laden Jet Airways, a person close to the Abu Dhabi carrier told Reuters late on Monday, further driving up shares of the Indian airline. Je

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Sensex rallies over 300 pts; Nifty reclaims 10,800 mark

Mumbai: The BSE benchmark Sensex Tuesday rallied over 300 points tracking positive cues from other Asian markets amid heavy buying by domestic institutional investors. Market sentiment was also upb

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Rupee depreciates 10 paise against USD; falls below 71 mark

Mumbai: The rupee depreciated by 10 paise and fell below the 71 per dollar mark in opening trade on Tuesday amid strengthening greenback, sustained foreign fund outflows and surging crude oil prices.

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Paytm Plans To Launch OTT Services, Begins Hiring Process

Online payment and ecommerce platform Paytm is reportedly looking to foray into the video content space and plans to launch over-the-top (OTT) services. The company has also begun the hiring process f

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Swiggy Delivery Execs Clash With Hotel Empire Employees, 30 Arrested

Foodtech unicorn Swiggy came into the spotlight for the wrong reasons after some of its disgruntled delivery executives got involved in a skirmish with the staff of Bengaluru-based Empire Hotel and al

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Vogo Raises $8.87 Mn Series B Funding From Kalaari, Stellaris And More

Bengaluru-based bike rental startup Vogo Automotive Pvt Ltd, which runs the brand Vogo, has raised $8.87 Mn (INR 62.78 Cr) as part of its ongoing Series B funding round. The filings accessed via th

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Sachin Bansal Leads $21.2 Mn Funding In Ola’s Ongoing Series J Round

Flipkart cofounder Sachin Bansal has invested $21.2 Mn (INR 149.9 Cr) in a cab-hailing platform Ola as part of the latter’s ongoing Series J round through preference shares, according to the Ministry

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Air India's passenger revenue grows by 20 pc in Q3 of 2018-19

New Delhi: While Air India's passenger count rose by only 4 per cent in the December 2018 quarter, its revenue from passengers increased by 20 per cent on the back of better aircraft utilisation, said

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QSRs tweak strategy to fend off Swiggy, Zomato

MUMBAI: The new-found aggression shown by online food ordering apps such as Zomato and Swiggy have changed the business dynamics of traditional quick service restaurant (QSR) particularly in delivery

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Sensex falls over 150 points ahead of key macro data release

Mumbai: The BSE benchmark Sensex on Monday dropped over 150 points tracking weakness in other Asian markets amid heavy selling by foreign investors. Market sentiment also turned cautious ahead of t

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Oil slides on China trade slump, but crude imports remain high

Singapore: Oil prices fell by almost 1 per cent on Monday, with Brent crude slipping below $60 per barrel, after Chinese data showed weakening imports and exports in the world’s biggest trading nation

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Amazon Pay Receives $42.6 Mn From Its Parent Company

Ecommerce giant Amazon has yet again invested $42.6 Mn (INR 300 Cr) in fresh funding in its digital payments arm Amazon Pay. This latest funding comes right after reports stated that Amazon Pay is rol

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Mutual Fund Startup Scripbox Raises $21.4 Mn Series C Funding Led By Accel Partners

Bengaluru-based Scripbox, an online mutual fund investment startup, has raised $21.4 Mn (INR 151.2 Cr) in a Series C funding round led by its existing investor Accel Partners, with participation from

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Social media giants plan push-back on India's new regulations: sources

New Delhi: Global social media and technology giants are gearing up to fight sweeping new rules proposed by the Indian government that would require them to actively regulate content in one of the wor

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Petrol price hiked by 19 paise, diesel by 28 paise

New Delhi: Petrol price was hiked on Friday by 19 paise per litre and diesel by 28 paise, the second increase in rates in as many days on firming input cost. Petrol in Delhi now costs Rs 69.07 per

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Gold snaps 4-day rally, silver also slides

New Delhi: Snapping a four-day rally, gold on Friday declined marginally by Rs 40 to Rs 33,030 per 10 gram at the bullion market here on subdued demand from local jewellers, according to All India Sar

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Sensex falls 96 points, Nifty ends below 10,800

Mumbai: Surrendering early gains, benchmark Sensex on Friday dropped 96 points to end at 36,009.84 as investors booked profits even as global equities rose. The 30-share index opened on a strong no

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Amazon Pay Begins Doorstep KYC Services As RBI Deadline Nears

Amazon Pay has now started rolling out doorstep know-your-customer (KYC) services for its mobile wallet users. The move comes after the Supreme Court’s September 26, 2018 verdict on Aadhaar which rest

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Ola Becomes $6 Bn Unicorn With $74 Mn Funding From Steadview Capital

Homegrown online cab aggregator Ola is now reportedly worth $5.5- $6 Bn after it raised $74 Mn (INR 520 Cr) from its existing investor, a Hong Kong-and London-based hedge fund, Steadview Capital, thro

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Tata Consultancy highlights strong deal pipeline, after record quarter

Tata Consultancy Services, India’s top software services exporter, on Thursday reported a record quarterly profit helped by gains in its key banking, financial services and insurance (BSFI) division a

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Annual mop up to take Rs 3,000 crore hit

New Delhi: To woo small businesses before Lok Sabha elections, the GST Council headed by Union finance minister Arun Jaitley on Thursday decided that small and medium enterprises (SMEs) with annual in

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BankBazaar expands credit card category for self-employed customers

BankBazaar, India’s leading online marketplace for financial products, announced the launch of Business Cards from Yes Bank on their platform. With this launch, BankBazaar expands its Credit Card cate

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Modi's 'Make in India' a casualty as steel, auto firms spar over sourcing

New Delhi: India’s steel ministry is putting pressure on automakers to use locally made steel by refusing to back down on tougher import rules despite warnings that the new regulations could disrupt t

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Blockchain This Week: What’s A 51% Attack, Blockchain Cash Handler, And More

This week, the unthinkable has happened in the blockchain world. Ethereum Classic (ETC) — the original version of the Ethereum network — came under attack on January 5 when an unknown perpetrator esse

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OYO Appoints Top Level Execs To Drive International Growth

Hospitality major OYO has appointed top executives in China, Malaysia and Europe to strengthen its international footprint. The company appointed Andrew Verbitsky as the head for its Europe operati

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Amazon India Glitch Leaks Tax Data Of 400K Sellers

Amazon India said that the tax data of close to 400K sellers was visible to other sellers due to a technical glitch on January 6. The data breach came to light after a media report, citing some Ama

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Lanka's Central Bank gets USD 400 million swap from RBI

Colombo: Sri Lanka's Central Bank on Wednesday said that the Reserve Bank of India (RBI) has agreed to provide USD 400 million under a swap arrangement to boost the island nation's reserves. "The R

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Gold up Rs 110 on wedding season buying

New Delhi: Gold rose for the third straight session Wednesday, gaining Rs 110 to Rs 32,800 per 10 grams on increased buying by jewellers to meet marriage season demand. Silver prices also spurted by

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Govt eyes about USD 1 billion from Air India sale

New Delhi: The government is eyeing around USD 1 billion (about Rs 7,000 crore) from the sale of national carrier Air India in the next financial year, a government official said. The government will

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Rs 18,000 crore subsidy in works for stressed gas-based power projects

New Delhi: The government may launch a new Rs 18,000 crore subsidy scheme for stressed gas-based power projects that will enable these fuel starved plants to run using a mix of domestic and imported g

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Rupee rises 14 paise against US dollar in early trade

Mumbai; The rupee on Thursday appreciated 14 paise to 70.32 against the US dollar in early trade amid weakness in the American currency on uncertainty over Federal Reserve rate hikes following the rel

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Snapdeal lands in trouble for selling sex stimulant drug

New Delhi: The e-pharma industry had just got a breather from the court, that online sale of drugs has come once again under the scanner affecting the reputation of the industry. The Karnataka gove

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London remains top destination for European tech funding

London remained the top destination in Europe for technology investment in 2018, with nearly double the amount being plowed into companies in the British capital than nearest rival Berlin, data showed

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New documents link Huawei to suspected front companies in Iran, Syria

The US case against the chief financial officer of China’s Huawei Technologies, who was arrested in Canada last month, centers on the company’s suspected ties to two obscure companies. One is a teleco

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Sensex jumps over 200 points, Nifty tests 10,850

Mumbai: The BSE Sensex jumped over 200 points to reclaim the 36,000 mark in opening session on Wednesday, extending its winning run for a fourth session on buying by domestic investors, tracking a fir

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Rupee rebounds 7 paise against dollar in early trade

Mumbai: The rupee recovered 7 paise to 70.14 against the US dollar in early trade on Wednesday on fresh selling of the American currency by exporters and banks amid early gains in domestic equities.

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Indian banks propose USD 900 million turnaround plan for Jet Airways: report

Debt-laden Jet Airways Ltd’s lenders proposed a USD 900 million resolution plan, the Mint daily reported on Wednesday, citing sources familiar with the matter. The financial woes of Jet, India’s bigg

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Uber To Double Employee Headcount, Test New Products In India This Year

Ride hailing company Uber’s India unit has reiterated its plans to double its investment in Bengaluru and Hyderabad in terms of headcount, especially in the engineering division. According to reports,

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Flipkart In Talks With Coworking Spaces To Seat Its Growing Team

Walmart-owned Flipkart is reportedly in talks with several coworking space providers to get office space for more than 3,000 workers in Bengaluru. The ecommerce company is currently in talks with at

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IL&FS Transportation Networks defaults on dividend payment of Rs 7.12 cr

New Delhi: IL&FS Transportation Networks, a group company of the troubled IL&FS group, Monday said it has defaulted on dividend payment of Rs 7.12 crore due on redemption of cumulative non convertible

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Rupee softens against US dollar in opening trade

Mumbai: The rupee weakened by 36 paise to 70.04 against the US dollar in opening trade on Tuesday on rising crude prices and some demand for the American currency from importers. The rupee opened wea

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Yet another top-level executive quits Infosys

Bengaluru: Another top-level executive of India's second largest software services company, Infosys has tendered his resignation after close to a two decade-long stint. Sudip Singh, the global head

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Sensex opens on a choppy note; Nifty tests 10,750

Mumbai: The benchmark BSE Sensex opened lower on Tuesday as investors booked profits in recent gainers amid mixed Asian cues and a rebound in crude oil. After two sessions of gains, investors cashed

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VR-Based Interior Design Startup Flipspaces Raises $3.5 Mn

Mumbai-based interior design startup Flipspaces has raised $3.5 Mn (INR 20.9 Cr) from private equity fund Carpediem Capital. According to the startup which uses virtual reality technology, this fund w

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Alibaba Cracks Down On Chinese Sellers Importing ‘Gifts’ Into India

Chinese ecommerce giant Alibaba reportedly said on Monday that it has penalised thousands of sellers on its platform for sending their products to India in the guise of gifts to avoid paying customs a

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Israel’s Radware Acquires Indian Bot Mitigation Company ShieldSquare

Israel-based cybersecurity solutions provider Radware has acquired Indian bot mitigation and management startup ShieldSquare. Post acquisition, Radware will offer ShildSquare’s bot mitigation and mana

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CES 2019: Huawei taps new growth with new server chipset launch

Huawei Technologies Co Ltd on Monday launched a new chipset for use in servers, at a time when China is pushing to enhance its chip-making capabilities and reduce its heavy reliance on imports, especi

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Rupee spurts 33 paise against US dollar in early trade

Mumbai: The rupee appreciated by 33 paise to 69.39 against the US dollar in opening trade on Monday, driven by strong gains in domestic equities and weakening of the greenback in overseas markets. Th

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Sensex builds on gains, rises 288 points; Nifty claims 10,800 mark

Mumbai: The BSE benchmark Sensex rose by about 288 points and the NSE Nifty claimed the 10,800 mark, in early trade on Monday, extending gains for the second straight session on continued buying by do

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Foodtech Unicorn Zomato Hits 28 Mn Monthly Order Run Rate In Dec

Gurugram-headquartered food delivery and restaurant discovery platform Zomato claims to have achieved 28 Mn in monthly order run rate as of December 2018, up from the 21 Mn monthly orders it claimed i

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BigBasket Controls Losses By 53%, Revenue Rises 34% For FY18

Bengaluru-based online food and grocery store Supermarket Grocery Supplies Pvt Ltd, which runs BigBasket, reported a 34% hike in its revenues for the fiscal year ending March 31, 2018, reaching INR 1,

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Cryptocurrency This Week: Bitcoin’s 10th Anniversary, India In No Hurry To Regulate Crypto, And More

Ten years ago, the story of Bitcoin began with investors losing money and companies shutting down, partly due to central banks’ failing monetary policies and government frameworks. On October 31, 200

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Lightspeed Closes Fourth China Fund, Apple Shares Fall: News From Tech And Startup World

US-based iPhone maker Apple Inc greeted the new year on the wrong foot with reports surfacing that the company’s stock had gone down by 38% since October. The company’s CEO, Tim Cook, issued a lett

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Premji Foundation, Ex Flipkart Employees Invest In Binny Bansal-Backed VC Fund

021 Capital, an early stage venture capital fund backed by Flipkart founder Binny Bansal has made its first close of $32 Mn (INR 222 Cr) according to a media report which cited people familiar with th

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Apple shares dive; rare revenue warning drags global markets

Apple Inc shares plunged 10 percent on Thursday after the iPhone maker blamed weak China demand for a holiday-quarter revenue shortfall, with many investors worried the rare stumble was a harbinger fo

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Google shifted $23 billion to tax haven Bermuda in 2017

Google moved 19.9 billion euros ($22.7 billion) through a Dutch shell company to Bermuda in 2017, as part of an arrangement that allows it to reduce its foreign tax bill, according to documents filed

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Malaysia Airports Holding Berhad cancels deal to sell stake

Hyderabad: After GMR Infra failed to fulfil its obligations by December 31, Malaysia Airports Holding Berhad (MAHB), on Wednesday, said that it has terminated the Share Purchasing Agreement (SPA) with

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Sensex rebounds nearly 200 points; Nifty reclaims 10,700 mark

Mumbai: The BSE benchmark Sensex on Friday rebounded nearly 200 points and the NSE Nifty reclaimed the 10,700 mark, driven by recovery in auto, metal and banking stocks amid buying by domestic institu

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Oil dips on manufacturing downturn, but OPEC cuts offer support

Singapore: Oil prices dropped on Friday after the United States followed most other major economies into a manufacturing downturn, although supply cuts by producer club OPEC kept declines in check. I

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Uber India Increases Revenue 20X To $3.05 Mn In FY18

Global cab hailing company Uber has reported an increase of 19.67X in its revenue from its India business — Uber India Technology — reaching $3.05 Mn (INR 21.5 Cr) in the fiscal ending March 2018.

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CarDekho Raises $110 Mn In Series C Funding To Rev Up For Its Next Phase Of Growth

Auto portal CarDekho has raised $110 Mn in Series C funding from existing investors Sequoia India, Hillhouse Capital, CapitalG (Alphabet growth investment arm), and Axis Bank. CarDekho is an online p

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Cabinet clears merger of Dena Bank, Vijaya Bank with BoB

New Delhi: The government on Wednesday approved the merger of Dena Bank and Vijaya Bank with Bank of Baroda (BoB) to make it a globally competitive lender. With the merger, BoB will become the thir

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Niti Aayog against Rs 14,000 crore infusion in BSNL, MTNL for 4G service

New Delhi: The government think tank Niti Aayog have objected the proposal of preferential equity infusion in the two PSUs -- BSNL and MTNL -- amounting to nearly Rs 14,000 crores for acquiring 4G spe

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Sensex, Nifty open weak on negative global cues

Mumbai: Domestic equities declined for the second day as the BSE benchmark Sensex on Thursday fell over 100 points on weak global cues and heavy selling by foreign and domestic institutional investors

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Zomato In Talks For New $1 Bn Fundraise To Counter Swiggy’s Latest Funding

Gurugram-based foodtech company Zomato is reportedly in talks to raise a fresh funding round of $500 Mn to $1 Bn from Chinese private equity major Primavera Capital and Alibaba payments affiliate Ant

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Sachin Bansal Pays $100.3 Mn Advance Tax For Flipkart Earnings

Flipkart cofounder Sachin Bansal has reportedly paid an advance tax of $100.3 Mn (INR 699 Cr) for the first quarter of 2018-19. The amount includes his capital gains tax from selling his stake sale in

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Not Keen On Softbank Money, Ola To Raise $1.9 Mn Via Preference Shares

Bengaluru-based cab sharing platform Ola is under the process of raising $1.9 Mn (INR 14 Cr) via allotting preference shares to China-based electric vehicle company Eternal Yield International. Acc

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Blockchain This Week: The Indian Startup Behind Unicef’s Vaccination Programme, Blockchain Gaming, And More

Last year, Unicef picked six blockchain startups to aid its various humanitarian efforts. One of these was Statwig, a Hyderabad-based company which focuses on blockchain-powered solutions for the cold

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Restaurant Association Files CCI Complaint Against Major Foodtech Players

In an online petition to the Competition Commission of India (CCI) and the Prime Minister’s Office (PMO), nearly 500 small to midsized restaurant companies alleged “misuse of dominant position by food

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Bill Gates' nuclear venture hits snag amid US restrictions on China deals: WSJ

TerraPower LLC, a nuclear energy venture chaired by Microsoft Corp co-founder Bill Gates, is seeking a new partner for early-stage trials of its technology after new US rules forced it to abandon an a

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Sensex falls on foreign fund outflow in early trade

Mumbai: The BSE benchmark Sensex started the new year on a weak note and turned choppy after opening higher in early trade on Tuesday amid sustained capital outflows by foreign funds and surging globa

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ATF price cut by 14.7 per cent; costs less than petrol, diesel

New Delhi: Jet fuel price on Tuesday was cut by a record 14.7 per cent on the back of decline in international rates, making it cheaper than both petrol and diesel. The price of Aviation Turbine Fu

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Govt exempts rupee payments for Iran oil from taxes

New Delhi: The government has exempted rupee payments made to Iran's national oil company NIOC towards the purchase of crude oil from payment of any tax, according to a Gazette notification. The fi

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GST collection drops to Rs 94,726 cr in December

New Delhi: GST collection dropped to Rs 94,726 crore in December 2018, lower than Rs 97,637 crore collected in the previous month. The total number of sales returns or GSTR-3B filed till December 3

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Kerala Govt Calls For Startup Participation In IT Projects Worth Upto $143K

As one of the frontrunners in among Indian states for startup friendly policies, Kerala has now approved its departments and autonomous institutions to invite startups registered under the Kerala Star

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RBI Lifts Six Month Ban, Permits Paytm Payments Bank To Onboard New Customers

The year 2019 seems to have brought good luck to Paytm. After almost six months of the ban, the Reserve Bank of India (RBI) has allowed Paytm Payments Bank to restart opening new accounts for its cons

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New e-commerce rules regressive, will harm consumers: USISPF

New Delhi: The US-India Strategic Partnership Forum (USISPF) has dubbed the new e-commerce rules as "regressive" and said that the changes would harm consumers, create unpredictability and have a nega

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Sensex rises over 150 points, Nifty hits 10,900-mark

Mumbai: Continuing its winning streak for a fourth straight session on Monday, the BSE benchmark Sensex surged over 150 points as investors maintained their bullish stance in early trade on positive c

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Rupee gains 20 paise against dollar in opening trade

Mumbai: The rupee appreciated 20 paise to 69.75 against the US currency in opening trade Monday amid weakening of the American unit and positive opening in the domestic equity market. Forex traders

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Cryptocurrency This Week: Is The Bitcoin Party Over?

Exactly, a year ago, as we were about to enter 2018, Bitcoin and crypto market had already started its race to the bottom. On December 31, 2017, the total value of the crypto market stood at $578 Bn w

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Tesla Shares Drop By 7.6%, Alibaba Backs Hellobike: News From Tech And Startup World [Dec 24-30]

Facebook-owned picture sharing social platform Instagram came under intense criticism this week after a ‘bug’ changed the layout of its feed, while the company was testing a new feature which would al

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FDI Ecommerce Circular: Amazon, Flipkart Tread Carefully; Sellers Stay Doubtful

Amazon India and Flipkart have given muted reactions to the proposed changes in the ecommerce policy released on Wednesday (December 26) by the Ministry of Commerce and Industry, while online sellers

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ICICI Bank loan row probe ‘almost’ complete

New Delhi: The controversy related to ICICI Bank, the largest private lender of India, is refusing to die as the government on Thursday indicated that inspection of the books of six companies linked t

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7 PSU banks set to get Rs 28,615 crore lifeline in 4 days

New Delhi: The government is set to infuse Rs 28,615 crore into seven public sector banks through recapitalisation bonds in four days to help them meet regulatory capital requirement, official sources

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Sensex vaults 269 points to reclaim 36,000-mark

Mumbai: Benchmark Sensex rose for the third straight session on Friday to reclaim the 36,000-mark on across-the-board buying by foreign funds amid a rebound in the rupee. After surging 400 points int

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Food Regulator FSSAI Steps Up Scrutiny For Ecommerce Food Companies

The national food regulator Food Safety and Standards Authority of India (FSSAI) has issued revised guidelines to step up scrutiny of ecommerce food companies saying that there can be no compromise on

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India Crosses 500 Mn Internet Connections As Rural Users Surge

India has reportedly recorded 560 Mn internet connections at the end of September 2018, marking a 65% growth from 340 Mn connections in March 2016. This development comes three years after telecom min

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OYO Announces First ESOP Round Worth About $7 Mn

Hotel aggregator OYO has announced its first Employee Stock Ownership Plan (ESOP) for 250 employees in a secondary share acquisition programme worth $5.7 Mn – $7.1 Mn (INR 40-50 Cr). The ESOP plan is

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White House mulls new year executive order to bar Huawei, ZTE purchases

President Donald Trump is considering an executive order in the new year to declare a national emergency that would bar US companies from using telecommunications equipment made by China’s Huawei and

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Huawei announces over 200 million smartphones shipped in 2018

Huawei has announced that its smartphone shipments for the 2018 year have exceeded 200 million units, thanks to the support of consumers and partners around the world, as well as the strength of the s

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India to issue draft e-commerce policy in few weeks: government source

India will announce a new draft policy for e-commerce in a few weeks, a source in the government said on Thursday, a day after the country tweaked foreign investment rules for the burgeoning sector.

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Govt has prepared revival plan for Air India: Jayant Sinha

New Delhi: The government has prepared a revival plan for Air India that provides for a comprehensive financial package, differentiated strategies for each of the airline's core businesses and robust

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Rupee gains 30 paise against dollar in opening trade

Mumbai: The rupee rose by 30 paise to 70.05 against the US currency in opening trade on Friday aided by foreign fund inflows amid a weak dollar globally and sharp fall in crude oil prices. Domestic

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Sensex rallies over 300 points, Nifty reclaims 10,800 level

Mumbai: BSE benchmark Sensex on Friday rallied over 300 points and NSE Nifty reclaimed the 10,800 mark on firm global cues, heavy foreign fund inflow and strengthening rupee. Extending gains for th

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India eyes USD 100 billion FDI in next two years: Suresh Prabhu

New Delhi: India will aim to receive USD 100 billion in foreign direct investments in the next two years and special industrial clusters are being created for countries like Japan, South Korea, China

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BoB shareholders to meet next month to consider capital raise under ESPS

New Delhi: Shareholders of Bank of Baroda will meet next month to consider issuing up to 10 crore new shares under Employee Share Purchase Scheme (ESPS). An extraordinary general meeting of the sha

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Sensex rallies over 300 points on positive global cues, Nifty reclaims 10,800

Mumbai: BSE benchmark Sensex rallied 391 points and NSE Nifty reclaimed the 10,800 level on Thursday on positive cues from Wall Street as US stocks recovered from heavy losses after the White House as

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India tightens e-commerce rules, likely to hit Amazon, Flipkart

New Delhi: India will ban e-commerce companies such as Amazon.com and Walmart-owned Flipkart Group from selling products from companies in which they have an equity interest. In a statement, the gove

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Delhivery Increases Revenues By 42%, Expenses By 26.7% For FY18

Gurugram-based ecommerce logistics company Delhivery has recorded a strong growth in the year, though expenses also increased ahead of a $450 Mn round expected from SoftBank , which will vault it into

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Blockchain This Week: Mahindra Doesn’t Like Sour Grapes, Happy Holidays And See You Next Year!

In 1908 Henry Ford released the Model T car and brought conveyor belts and mass production technologies to what was essentially a made-by-hand affair up until then. In less than 20 years, 15 Mn Model

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Google Invites Indian Startups For Second Batch Of Launchpad Accelerator

Global search company Google is inviting startups across machine learning (ML) and artificial intelligence (AI) sectors to apply for the second batch of its Launchpad Accelerator India programme. T

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Ecommerce Policy Draft: Govt Looks To Curb Deep Discounting Practices

The Indian government has restricted online marketplaces from influencing the sale price of products, in a move to bring respite to ecommerce vendors and offline retailers against deep discounting pol

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Tata Tigor EV now available on rent in Pune

Indian carmaker Tata Motors will now offer its Tigor electric car to Zoomcar customers in Pune. It’s not the first instance when an electric car is available on self-drive rental on the Zoomcar platfo

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Huawei faces new setbacks in Europe’s telecom market

The US dispute with China over a ban on tech giant Huawei is spilling over to Europe, the company’s biggest foreign market, where some countries are also starting to shun its network systems over data

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Gold ETFs lose sheen, investors withdraw Rs 280 cr in Apr-Nov

New Delhi: Gold exchange-traded funds (ETFs) continue to lose steam, with investors pulling out Rs 280 crore during the April-November period of the current fiscal, preferring to invest in equities de

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Sensex cracks over 350 points on global selloff; Nifty below 10,600

Mumbai: Domestic equities benchmark BSE Sensex plunged over 350 points on Wednesday as investors turned jittery over political uncertainty in the US and fears of a global economic slowdown amid heavy

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Facebook India’s Profit Rises 40% In FY18 Despite Increased Legal Expenses

Facebook’s India unit has posted a profit of $8.11 Mn (INR 57 Cr) in the year ended March 2018, a jump of 40% from the year before, according to media reports. During the year, the company’s total

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Petrol costs Rs 34 per litre before tax, dealer commission in NCR

New Delhi: Petrol will cost only Rs 34.04 per cent per litre and diesel Rs 38.67/ per litre without taxes and dealer's commission in the national capital region. Giving details of the prices of pet

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Sensex, Nifty choppy amid weak global cues

Mumbai: The benchmark BSE Sensex opened on a volatile note early on Monday on short-covering by investors amid weakness in Asian markets. Buying activity in pharma, technology, banking auto and FMC

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Facebook Is Developing A Cryptocurrency For WhatsApp Money Transfers: Report

Facebook may be looking to dabble in cryptocurrency-based payments solutions for its messaging platform WhatsApp, with a focus on its Indian users. Quoting unnamed sources, a Bloomberg report has s

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Flipkart’s PhonePe Steps Into Wealth Management Space

Flipkart-owned digital payments company PhonePe has launched its own wealth management unit, PhonePe Wealth Services, according to Registrar of Companies (RoC) filings. According to the RoC filings

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Cryptocurrency This Week: Facebook Developing Cryptocurrency, Buterin’s $300K Giveaway And More

As we entered this year, Zuckerberg, on January 4, expressed his thoughts and love for cryptocurrencies. However, the plan was then pushed under the carpet and on January 31, the social media giant ha

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SoftBank Shares Drop 14.5% In Japan’s Biggest IPO: News From Tech And Startup World [Dec 17-23]

Facebook drew flak from across the world after reports surfaced saying that since 2010, the company has been sharing the personal data of its users with more than 150 companies such as Amazon, Netflix

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Home Interiors Startup Design Cafe Raises $28.5 Mn From WestBridge Capital

Bengaluru-based online interior design platform Design Cafe has raised $28.5 Mn (INR 200 Cr) equity-financing round led by private equity firm WestBridge Capital in participation with existing investo

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Facebook defines ‘permission’ loosely

Facebook gave companies such as Apple, Amazon and Yahoo extensive access to users’ personal data, effectively exempting them from the company’s usual privacy rules, according to a New York Times repor

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Capri global Housing Finance aims to cross Rs 7,000 crore by 2023

Mumbai: Capri Global Housing Finance Limited (CGHFL), a subsidiary of Capri Global Capital Limited (CGCL) - a leading NBFC lending primarily to MSME and Affordable Housing Sector - aims to clock 29-X

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FinMin increases bank recap fund by Rs 35,000 crore

New Delhi: The Centre on Thursday sought parliament’s nod for enhancing funds earmarked for the recapitalisation of state-owned banks to Rs 1,06,000 crore from an earlier target of Rs 65,000 crore in

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State banks recover USD 8.69 billion of bad loans in April-September

New Delhi: Indian state-run banks recovered 607.3 billion rupees ($8.69 billion) of outstanding bad loans in the April-September period, which a finance ministry official said on Thursday was a “recor

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Kalaari And Unilever Back Ecommerce Startup Shop101 In $11 Mn Funding Round

Social ecommerce startup Shop101 has reportedly raised $11.3 Mn (INR 80 Cr) in a Series B funding round led by Kalaari Capital and Unilever Ventures. The round came in less than five-months after the

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Foodtech Unicorn Swiggy Bags $1 Bn In Funding Round Led By Naspers

Bengaluru-based food delivery platform Swiggy has raised $1Bn (INR 6,995 Cr) funding in a Series H round led by South Africa-based Naspers. With this round, the total funding raised by Swiggy in 2018

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Milkbasket Raises Additional $7 Mn In Series A Funding

Gurugram-based milktech startup, Milkbasket, has raised an additional $7 Mn (INR 49.3 Cr) in its Series A funding round led by US-based venture capital fund Mayfield Advisors. Existing investors, Kala

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Venture Debt Fund Alteria Capital Invests $3.6 Mn in Portea Medical

Alteria Capital, which claims to be India’s largest Venture Debt fund, said it has invested $3.6 Mn (INR 25 Cr) in Bengaluru-based home healthcare services provider Portea Medical. The funding is

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Cryptocurrency industry faces insurance hurdle to mainstream ambitions

Cryptocurrency exchanges and traders in Asia are struggling to insure themselves against the risk of hacks and theft, a factor they claim is deterring large fund managers from investing in a nascent m

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India will need 2,300 planes worth USD 320 billion in 20 years: Boeing

New Delhi: India will need 2,300 airplanes worth USD 320 billion in the next 20 years, aircraft maker Boeing said on Wednesday. In rupee terms the amount would be around Rs 22,45,364 crore. As muc

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Focussed on bringing next 200 mn Indians into e-commerce fold: Flipkart

New Delhi: Walmart-backed Flipkart is betting big on categories like grocery, furniture and its range of private labels to bring new customers onboard its platform as well as expand its share in the u

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Karnataka Bank ties up with Paisabazaar.com for home loans

Paisabazaar.com, India’s largest online marketplace for financial products, and Karnataka Bank today announced a strategic partnership to offer the bank’s home loan product to customers on the Paisaba

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Sensex, Nifty open lower after US Fed rate hike

Mumbai: Benchmark indices fell sharply in early trade on Thursday on weak global cues after the US Federal Reserve raised its key interest rate for the fourth time this year, and signalled more, but s

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Edtech Startup Toppr Raises $35 Mn From Kaizen, SAIF Partners To Increase Brand Visibility

Hyderabad-based edtech startup Toppr has raised funding of $35 Mn (INR 246.13 Cr) from Kaizen Private Equity and existing investors SAIF Partners, Helion Ventures, Kaizen PE and Eight Roads Ventures.

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Binny Bansal Seeks $100 Mn As Part Of Early Exit Deal With Walmart

Flipkart cofounder Binny Bansal is negotiating terms of his exit and may reportedly opt for an immediate cash payout of $100 Mn (INR 701.5 Cr) from his $850 Mn (INR 5,963.47 Cr) worth-exit from the Wa

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Blockchain This Week: How I Stopped Worrying And Learned To Love The Decentralised Ledger

In 2016, a smart contract platform called Slock(.it) run on the Ethereum, partnered with a German energy giant RWE, in an effort to revolutionise the way electric cars are charged. The project would a

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India may hold inter-ministerial talks before call on Huawei

New Delhi: The government plans to hold inter-ministerial consultations on network security concerns arising from Chinese telecom gear maker Huawei’s participation in field trials for 5G technology af

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Uber gets approval from Pennsylvania to resume self-driving testing

Uber Technologies Inc received approval from Pennsylvania to resume self-driving car testing on public roads this week, state records show, nine months after it suspended the program following a deadl

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Saudi Arabia, Reliance in talks for refinery, petrochem project: Saudi Oil Minister

World's largest oil exporter Saudi Arabia and richest Indian Mukesh Ambani-run Reliance Industries are discussing joint investment in petrochemicals and refinery projects, the Saudi Oil Minister Khali

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Rupee strengthens 50 paise against US dollar

Mumbai: Continuing its rising spree, the rupee appreciated another 50 paise to breach the 70 per dollar-mark in opening trade on Wednesday on persistent drop in crude prices amid fresh foreign fund in

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Sensex rises over 100 points on firm rupee, falling crude prices

Mumbai: The benchmark BSE Sensex advanced over 100 points in early trade on Wednesday on gains in bluechips like Maruti Suzuki, SBI, Tata Steel and ITC amid rising rupee and tumbling crude prices.

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Ola To Invest $100 Mn In Scooter Sharing Service Vogo To Beef Up Its Bike-Taxi Ops

Ola, India’s largest cab aggregator by market share, entered into a strategic partnership to invest $100 Mn (INR 712 Cr) in Bengaluru-based Vogo, which claims to be India’s fastest growing scooter sha

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Czech cyber watchdog calls Huawei, ZTE products a security threat

The Czech cyber watchdog warned network operators on Monday against using software or hardware made by Chinese telecom equipment suppliers Huawei and ZTE, saying they posed a security threat. Huawe

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Google to spend USD 1 billion on new campus in New York

Alphabet Inc’s Google is investing more than USD 1 billion on a new campus in New York, becoming the second major technology company after Amazon to pick America’s financial capital to expand and crea

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Sensex reclaims 36,000, surges 307 points

Mumbai: Extending its winning run for a fifth session, the BSE Sensex soared over 307 points to close at 36,270, driven mainly by auto, metal and banking stocks and positive global cues. The broade

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Bitcoin climbs above $3,400, headed for biggest daily rise in nearly three weeks

Bitcoin rose sharply on Monday, climbing above $3,400 in a move traders ascribed to heavy buying on Japan and Hong Kong-based exchanges. The original cryptocurrency jumped as much as 11 percent on

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Rupee rises 37 paise against dollar on falling crude prices

Mumbai: The rupee appreciated 37 paise to 71.19 against the US dollar in early trade at the interbank foreign exchange on Tuesday after crude prices fell to a 14-month low level in international marke

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Accel Partners, IFC Lead $23 Mn Funding Round In B2B Marketplace Moglix

Noida-based B2B industrial goods marketplace MogiLabs, the parent company of Moglix, has raised $23 Mn (INR 164.57 Cr) in a round of funding led by venture capital firm Accel Partners and existing bac

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Quikr Acquires Chennai-Based India Property To Strengthen Real Estate Biz

Bengaluru-based online classifieds marketplace Quikr has acquired Chennai-based real estate platform, India Property Online Pvt Ltd, for an undisclosed amount. The acquisition of India Property’s full

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BYJU’S $540 Mn Funding: Sequoia Offloads 7% Stake In Edtech Unicorn To Naspers, CPPIB

Sequoia Capital, the Silicon Valley-based venture fund, is reportedly selling a 7% stake in Bengaluru-based BYJU’S as part of the edtech unicorn’s mammoth $540 Mn (INR 3,856.33 Cr) funding round. The

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Uber welcomes, unions criticise UK plan to maintain flexible gig economy

Uber Technologies Inc welcomed on Monday the British government’s response to a review into workplace rights, which looks set to preserve the business models of gig economy companies, but unions rubbi

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Sensex rises 224 points on fund inflows, positive Asian cues

Mumbai: The equity benchmark BSE Sensex rose by almost 224 points on Monday on buying in key frontline counters led by metal, banking, auto and energy stocks amid fresh foreign fund inflows. Positi

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Vedanta stock surges 6 per cent post NGT order on Tuticorin unit

The stock, after a positive opening on the NSE, gained 5.80 per cent to the intra-day high of Rs 213.30. New Delhi: Stocks of Vedanta on Monday climbed over 6 per cent after the NGT set aside the Tam

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ICPA seeks long-term fleet expansion plan for Air India

Mumbai: Air India's narrow-body pilots union ICPA has blamed capacity deficiency vis--vis competitors for its plunging domestic market share while seeking a long-term plan for aircraft fleet expansion

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Facebook May Face Billion-Dollar Fine, Pichai Testifies To US Congress: News From Tech And Startup World [Dec 10-16]

The world’s biggest internet companies — Google and Facebook — made the biggest headlines last week. Social media giant Facebook’s data privacy troubles seem to keep multiplying. After the company an

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Flipkart Singapore Fuels India Wholesale Arm With $304 Mn

Flipkart Singapore has reportedly invested $304 Mn (INR 2,190 Cr) in its wholesale arm, Flipkart India Pvt Ltd. This investment comes soon after a $618 Mn (INR 4,472 Cr) infusion in its wholesale arm

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Ninjacart Raises $34.6 Mn In Series B Funding Round To Fuel Expansion Plan

Bengaluru-based agritech startup Ninjacart has raised $34.6 Mn (INR 250 Cr) in a Series B funding round from Accel US, Syngenta Ventures, Neoplux, ZIGxN founder Jo Hirao, HR Capital, and Trifecta Capi

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Flipkart And Amazon Have Been Given Control Of Indian Retail Market, AIOVA Tells Modi

An online sellers’ association representing small and medium businesses has written to Prime Minister Narendra Modi, listing their grievances against ecommerce companies and alleging that small player

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IKEA Invites Growth Stage Startups For Bootcamp Programme

Sweden-based furniture company IKEA has invited 20 growth-stage startups across the globe including India, to participate in its IKEA Bootcamp programme. According to the company, during the three

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Blockchain This Week: The Blockchain Multiverse, Smartphones, Indian Tourism And More

Blockchain technology is at its a core an accounting technology. It provides an immutable record of transactions almost immediately, allowing for continuous auditing and authenticity of data. However

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Everstone, GLP To Invest $500 Mn In India’s Logistics Sector

South East Asia and India-focused private equity firm Everstone is set invest $500 Mn (INR 3,577.5 Cr) in the logistics sector along with global logistics company GLP. The investment will focus on

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Govt likely to make announcement on RBI soon: Finance Secretary

New Delhi: The government is likely to make an announcement regarding Urjit Patel's successor as Reserve Bank of India's Governor later in the day, Finance Secretary A N Jha said. RBI has been rend

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Sensex recovers 190 points, Nifty above 10,500

Mumbai: Benchmark indices pared all early losses to end with robust gains on Tuesday as investors shrugged off Urjit Patel's shock exit from the RBI and dismissed jitters over state election results.

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Rupee falls 32 paise against US dollar in early trade

Mumbai: The Indian rupee on Wednesday plunged 32 paise to 72.17 per US dollar in early trade on the forex market after the appointment of former bureaucrat Shaktikanta Das as the new governor of the R

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Edtech Unicorn BYJU’S Valuation Hits $4 Bn Mark With $328 Mn Funding

Bengaluru-based edtech unicorn BYJU’S has raised a mammoth $328 Mn (INR 2,322.18 Cr) in Series F funding from Canada Pension board’s investment arm CPPIB Investment Board Private Holdings, Naspers Ven

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Tiger Global, Bertelsmann Lead $10 Mn Funding In Short Video Platform Roposo

Gurugram-headquartered video entertainment app Roposo has raised $10 Mn (INR 72 Cr) in a fresh funding round from existing investors Tiger Global and Bertelsmann India Investments. Talking to Inc42

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HCL’s IBM deal puts focus on other IT firms’ moves

Mumbai: HCL Technologies’ announcement of the big fat acquisition of $1.8 billion (Rs 12,700 crore) IBM software products, the largest purchase by an Indian IT services company till date, shifts focus

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Air India floats tender to sell Nariman Point tower

Mumbai: Air India has floated tender for the sale of its iconic 23-storey tower at Nariman Point in Mumbai. Only government entities are allowed to participate in the bidding for acquiring leasehold r

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Markets react to poll results, Sensex tanks 500 points

Mumbai: Benchmark equity indices opened with heavy losses on Tuesday as investors were on edge ahead of the final assembly election results from five states, amid plummeting rupee after RBI Governor U

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UrbanClap To Facilitate ESOPs Repurchase Worth $2 Mn-$2.5 Mn

On-demand home services platform UrbanClap is facilitating an employee stock repurchase programme (ESOP) worth $2 Mn-$2.5 Mn (INR 14 Cr-INR 18 Cr) at $871 (INR 62K) per share. Reportedly, around 50 of

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Banks Lock Horns With Fintech Startups Over Data Security

Leading private banks — HDFC, ICICI, Citi, Standard Chartered and others — have now come together to oppose fintech companies from accessing users banking history for credit scores and reward purposes

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Licious Raises $25 Mn In Series D To Expand Its Meat Delivery Services

Bengaluru-based gourmet meat startup Licious has raised $25 Mn (INR 178.2 Cr) in a Series D funding round led by Japan-based Nichirei Corp. Existing investors 3one4 Capital, Bertelsmann India Investme

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Walmart India Shuffles Top Management, Appoints Sameer Aggarwal As Business Head

Walmart, the US-based retailer, has announced a change in management for its India unit. The company has appointed Sameer Aggarwal as its chief business officer (CBO), while Devendra Chawla, EVP and c

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Money talk: Things nobody tells you about your ATM card

Using an ATM card or debit card almost seemed like a privilege when demonetisation was first announced, and with the possibility of India losing 50 per cent of its ATMs by March 2019, may become even

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Rupee falls 59 paise against US dollar in early trade

Mumbai: The rupee depreciated 59 paise to 71.40 against the US dollar in early trade Monday at the interbank foreign exchange amid strengthening US dollar against some currencies overseas. Forex tr

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Sensex cracks over 550 points; Nifty drops below 10,600

Mumbai: The benchmark BSE Sensex cracked over 550 points on Monday as investors turned jittery over exit poll results ahead of outcome of state elections, weakening rupee and crude oil price rise amid

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OnePlus To Comply With RBI Ruling, To Store User Data Locally

China-based smartphone maker OnePlus has reportedly decided to relocate the data of all Indian users and store it in local servers to comply with the Reserve Bank of India’s (RBI) data localisation ru

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Cryptocurrency This Week: G20 Countries To Regulate Crypto, Bitcoin Mining Bites The Dust And More

During the recent Bitcoin Cash hard-fork, winning ABC camp’s Roger Ver tweeted, “No one wins a war. Some just lose less than others.” Roger had campaigned in support of Bitcoin Cash, while the hard-fo

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Exclusive: Multi-Brand Car Marketplace MYNEWCAR Raises $1 Mn In Funding

Mumbai-based multi-brand car marketplace, MYNEWCAR (.in), has raised $1 Mn (INR 7.1 Cr approx.) in a pre-Series A funding round, sources close to matter told Inc42. The funding has been led by angel i

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Oil's price slide threatens US shale production: Marathon Oil CEO

Signs of weakness in U.S. shale production are beginning to rear their ugly heads amid low global oil prices, according to Gary Heminger, CEO of Marathon Petroleum, the largest U.S. refining company.

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China tells Canada to release Huawei CFO; warns 'correct the mistake'

China on Thursday demanded that Canada release an executive of Chinese tech giant Huawei who was arrested in a case that compounds tensions with the U.S. and threatens to complicate trade talks. Me

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IL&FS Investment Managers' board appoints 2 new additional directors

New Delhi: IL&FS Investment Managers, part of the debt-laden IL&FS group, on Thursday said its board has approved appointment of Nand Kishore and Kaushik Modak as additional directors in the company.

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HPCL to buy Iranian oil in Jan after six-month gap: sources

New Delhi: State-run Indian oil refiner Hindustan Petroleum Corp will buy Iranian crude in January after a gap of six months, with the nation’s overall purchases from Tehran at 9 million barrels in th

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RBI may cut rates by 0.25 pc in Feb or April policy review: BofAML

Mumbai: The Reserve Bank of India (RBI) may cut key policy rates by 0.25 per cent either at the upcoming policy review in February or the one after that in April, Bank of America Merrill Lynch said on

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Rupee rises 46 paise against US dollar in early trade

Mumbai: The rupee appreciated by 46 paise to 70.44 against the US dollar in early trade on Friday at the interbank foreign exchange, amid weakness in the greenback against some currencies overseas and

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Market rebounds on easing crude, firming rupee; HCL Tech cracks 6 pc

Mumbai: The BSE benchmark Sensex rebounded over 200 points to 35,540.49 Friday on fall in global crude oil prices and strengthening rupee against the US dollar. Investors also took positive cues fr

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Electric Vehicles This Week: A Scary Tesla Story, KIA’s India E-Car, And The LA Auto Show

Last week, a California state patrol vehicle spotted a grey Tesla S going at 70 mph (113 kmph) down Highway 101 to Palo Alto in the wee hours of the morning. Suspecting that the driver was unconscious

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Tech execs to gather at White House on Thursday

Top executives from Google, Microsoft, IBM, Oracle and Qualcomm are planning to meet at the White House amid strained ties between President Donald Trump’s administration and the tech industry. The

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Samsung launches Galaxy Note9, S9+ in limited-edition Alpine White, Polaris Blue

Samsung announced new colour editions of its flagships – Galaxy Note9 in limited-edition Alpine White and Galaxy S9+ in a dual tone radiant Polaris Blue colour. These new colour editions have been an

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Mobile calls, internet on flights may start next month

New Delhi: Air passengers may be allowed to make mobile calls and surf the internet during flights in the Indian airspace, possibly from next month, once the law ministry gives its views and approval

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Infosys inaugurates new technology, innovation hub in US

New Delhi: IT firm Infosys on Thursday announced inauguration of its new technology and innovation hub in Hartford in the US. The company also announced that it has hired more than 7,000 American w

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Blockchain This Week: Amazon Does A U-Turn, A Handy Map On Emerging Blockchain Trends And More

“AWS doesn’t build technology because we think it is cool” Last year, this was Amazon Web Services (AWS) CEO Andy Jassy’s reply to a question on his team’s plans for a blockchain service, at the AW

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Naspers Rides High On India Portfolio With PayU Performance, Flipkart Stake Sale

PayU India accounted for more than half the overall business of Netherlands-based PayU, the payments arm of tech investor Naspers. According to the half-yearly financial statement of Naspers, for t

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Uber India Accounts For 11% Of Company’s Total Trips: Report

Uber India reportedly recorded an annualised booking rate of $1.64 Bn (INR 11,651 Cr) in the third quarter, according to an internal email shared by Uber India head Pradeep Parameswaran to CEO Dara Kh

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Fidelity, Nasdaq Ventures invest in cryptocurrency exchange ErisX

New cryptocurrency exchange ErisX said Tuesday it raised a total of USD 27.5 million from investors including Fidelity Investments and Nasdaq Ventures. ErisX says it will offer investors the abilit

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Income Tax dept examining taxation issues in Walmart-Flipkart deal

New Delhi: The Income Tax Department is examining the taxation issues with regard to payments made by Walmart Inc to various shareholders of Flipkart following the acquisition of the e-commerce firm,

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ONGC gets USD 32 million payment from Venezuela's PDVSA

New Delhi: India’s Oil and Natural Gas Corp has received a payment of $32 million from Petroleos de Venezuela (PDVSA) as part of a settlement of outstanding dividend payments and said it now hopes tha

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Ola Not Keen On $1 Bn From SoftBank, May Seek Lower Funding To Retain Control

Japanese conglomerate SoftBank is looking to invest $1 Bn (INR 7036.6 Cr) in ride-hailing company Ola’s next funding round, according to a media report citing people familiar with the development. How

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Ecommerce Cos Don’t Have To Collect Tax From Sellers With Turnover Below $28.4K

The Central Board of Indirect Taxes and Customs (CBIC) has now clarified that ecommerce companies are not liable to collect taxes on goods supplied by companies with an annual turnover of less than $2

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MoEngage Raises $9 Mn In Series B Funding Round Led By Indian VCs

US-based intelligent marketing cloud platform MoEngage has raised $9 Mn (INR 63.4 Cr) in Series B funding round led by Hyderabad-based Ventureast and Mumbai-based Matrix Partners India. The startup sa

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Instagram To Roll Out Shopping Feature In India Next Year

Facebook-owned picture sharing platform Instagram is reportedly planning to roll out its shopping feature in India by 2019, which will allow the users to buy products directly from the app. Citing

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Amazon India Receives $311.5 Mn Shot In The Arm As Ecommerce Battle Continues

Global ecommerce company Amazon has reportedly invested $311.51 Mn (INR 2,200 Cr) in its Indian subsidiary, the fourth tranche of its $5 Bn (INR 35,255 Cr) commitment to its expansion in the country.

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Amazon briefly edges out Apple for most valuable company

Amazon.com briefly became the most valuable company on Wall Street in intraday trade on Monday, days after Microsoft Corp dethroned long-time leader Apple Inc. Amazon rose by 4.7 per cent at one po

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Rupee falls 9 paise against US dollar in early trade

Mumbai: The rupee depreciated by 9 paise to 70.55 against the US dollar in early trade Tuesday at the interbank foreign exchange, amid strengthening of the US dollar and rising crude oil prices. Fo

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Sensex drops over 100 points on weak global cues, rising crude prices

Mumbai: The BSE benchmark Sensex dropped over 100 points in early trade on Tuesday amid mixed cues from other Asian markets, rising crude prices, weak rupee and heavy selling by domestic institutional

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Infibeam Invests In Payments Company To Expand To ‘Offline’ Market

Infibeam Avenues Ltd. which runs payments processing services CCAvenue said it had made a strategic investment in Mumbai-based Instant Global Paytech Private Ltd (IGPL) to build a next-generation paym

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Quora Announces Data Breach Affecting 100 Mn Users Globally

US-based question and answer platform Quora announced that personal data of almost 100 Mn Quora users was breached with a “malicious” third party gaining unauthorised access to one of the company’s sy

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Tata Motors falls; Jaguar Land Rover to temporarily cut jobs at UK plant

Shares of Indian automaker Tata Motors Ltd’s fell on Friday after its British unit Jaguar Land Rover said it is going to cut 500 jobs temporarily at its plant in central England. Shares fell as muc

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Paytm offers instant, on-demand settlement to partner merchants

New Delhi: Digital payment firm Paytm on Thursday said it would settle payment with merchants either immediately or at a time desired by them. "Earlier, we offered next-day settlement to our partne

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Forex reserves down by USD 795 million to USD 392.78 billion

Mumbai: The country's foreign exchange reserves dropped by USD 795 million to USD 392.785 billion in the week to November 23 due to a decline in foreign currency assets, according to RBI data. In t

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Sensex ends marginally higher; posts weekly gain

Mumbai: The BSE Sensex pared initial gains on Friday to end modestly higher at 36,194.30 points on profit-booking at higher levels amid mixed global cues. Trading sentiment was mixed ahead of the t

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Walmart-Flipkart Deal: I-T Dept Slams Notices On Flipkart Shareholders Abroad

The Income Tax (I-T) Department has issued notices to overseas shareholders of Flipkart who sold their stakes partly or fully during the $16 Bn Walmart takeover of the homegrown ecommerce company. The

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Zomato Looks To Mid-Tier Towns For Growth, To Hire 5,000 Delivery Partners

Homegrown foodtech unicorn Zomato has announced its plans to launch its online ordering and food delivery services in 30 more cities over the next week. The new cities include Puducherry, Jamshedpur,

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Hotel Owners Across The Country Are Banding Together Against OYO. Here’s Why

Indian hospitality chain OYO with its unicorn tag and marquee investors is now facing the brunt of budget and mid-market hotels across the country, which are claiming that their businesses are sufferi

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Goyal agrees to sell controlling stake in Jet Airways

New Delhi: Finding it hard to save the airline in the face of severe cash crunch, promoter Naresh Goyal is ready to relinquish his controlling stake in Jet Airways to prospective investors. Industry s

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ICICI bank plans to grow retail loan portfolio in FY 18-19

Chennai: Private sector ICICI Bank has chalked out aggressive plans to grow its retail loan portfolio in Tamil Nadu by over 40 per cent to Rs 13,000 crore during current financial year, a top official

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Adani Group to fully fund troubled Carmichael coal mine

India’s Adani Enterprises will fully fund its controversial Carmichael coal mine and rail project in Australia, Adani Mining Chief Executive Lucas Dow said on Thursday, according to a statement from t

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Sensex soars over 350 points on global cues, F&O expiry

Mumbai: The benchmark BSE Sensex surged over 350 points and the NSE Nifty reclaimed the 10,800 mark in early trade on Thursday on positive trend in other Asian bourses as dovish comments from US Feder

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BoB, Dena, Vijaya Bank to start operations from April 1

New Delhi: The second big merger of state lenders by the Narendra Modi government will be completed this financial year and the merged bank will start operations from the new fiscal. Sources said t

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Drivezy Rides Expansion Wave With $20 Mn Equity, $100 Mn Asset Financing Deal

Bengaluru-based vehicle sharing marketplace Drivezy has raised $20 Mn in Series B equity funding, led by existing investor Das Capital. Other investors who participated in the round include Yamaha Mot

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Quikr Launches Quikr Assured To Build Trust In Used Products Market

Bengaluru-based online classifieds marketplace Quikr has announced the launch of Quikr Assured to win the trust of customers when choosing used products. Under the Quikr Assured scheme, the company

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EV Motors India To Set Up 6500 Charging Stations In 5 Years

Noida-based electric vehicle startup EV Motors India is reportedly planning to raise a funding of about $200 Mn to set up nearly 6,500 electric vehicle charging stations in India within the next five

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Japan's Line jumps 17 percent after Nikkei reports Tencent tie-up

TOKYO (Reuters) - Line Corp shares jumped as much as 17 percent on Tuesday after the Nikkei business daily reported the Japanese chat app operator would tie-up with China's Tencent Holdings Ltd to off

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IL&FS gets more than a dozen expressions of interest to buy stakes in two units

Mumbai: India’s debt-laden Infrastructure Leasing & Financial Services (IL&FS) said on Monday it received more than a dozen expressions of interest for its stakes in subsidiaries IL&FS Securities Serv

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Crisis-hit Jet Airways fires 16 more people to cut cost

New Delhi: Struggling to stay afloat in the face of strong headwinds, the Naresh Goyal controlled Jet Airways has handed out pink slip to 16 more staff in its bid to reduce cost. Industry sources said

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Sensex logs 1st gain in four sessions, soars 373 points

Mumbai: Breaking its three-session losing spree, the BSE benchmark Sensex surged over 373 points on emergence of buying mainly in auto, FMCG and banking stocks as sustained recovery in rupee and moder

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Rupee sheds 15 paise against US dollar in early trade

Mumbai: The rupee depreciated by 15 paise to 71.02 against the US dollar in early trade on Tuesday at the interbank foreign exchange, after US President Donald Trump suggested a tariff hike on Chinese

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Toyota to hike prices of vehicles across models from January 1

New Delhi: Toyota Kirloskar Motor on Tuesday said it will increase prices of its vehicles across models by up to 4 per cent from January 1, 2019, to offset increasing manufacturing costs due to rupee

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Cryptocurrency This Week: Indian Govt’s Submission In Supreme Court, Bitcoin Cash War And More

At a time when Venezuelans and Argentinians have been fast moving from their local currencies — Bolivar and Peso — to cryptocurrencies, especially Bitcoin, the latter too has been on a down slide for

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Govt Increases Outlay For FAME I Electric Vehicle Plan To $126.74 Mn

In a gazette notification, the Ministry of Heavy Industries and Public Enterprises said that the government has increased the outlay for the first phase of Faster Adoption and Manufacturing of Hybrid

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Outgoing Facebook exec takes fall for hiring opposition firm

Facebook’s outgoing head of communications is taking the blame for hiring Definers, the public relations firm doing opposition research on the company’s critics, including billionaire philanthropist G

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Airtel Africa appoints eight global Banks to work on IPO

New Delhi: Bharti Airtel's Africa business arm Monday announced the appointment of eight global banks including J P Morgan, Citigroup and Goldman Sachs to work on its initial public offer plan. "Ai

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'Oil PSUs plan to add 4,450 petrol pumps in Gujarat'

Ahmedabad: Public sector firms Indian Oil, Bharat Petroleum and Hindustan Petroleum plan to add 4,450 retail outlets across Gujarat in a bid to expand its network and meet growing fuel needs, an offic

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Rupee rises 39 paise against US dollar in early trade

Rupee is trading at 30 against dollar, as global crude prices slipped below the USD 60 per barrel mark. Mumbai: Rising for the eighth straight day, the rupee climbed 39 paise to 70.30 against the US

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Personalised Mobile Investment App CashRich Raises $1 Mn

Mumbai-based wealth management startup CashRich has raised $1 Mn in equity funding from three UK-based angel investors. The company plans to use the funds to develop its Dynamic Systematic Investme

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Omidyar, Accel Place $11 Mn Bet On Edtech Startup Vedantu

Bengaluru-based online tutoring startup Vedantu has raised $11 Mn in a Series B funding round led by philanthropic investment firm Omidyar Network, with participation from existing investor venture ca

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Cryptocurrency Trading: Finance Ministry Defends RBI’s Concerns In Supreme Court

In a counter affidavit to a two-judge Supreme Court bench hearing a batch of cases on the legitimacy of cryptocurrency in India, the finance ministry defended the Reserve Bank of India’s (RBI) ban on

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ONGC ordered to pay Rs 242 crore to Mumbai Port Trust

New Delhi: Oil and Natural Gas Corporation (ONGC) has been ordered to pay about Rs 242 crore to the Mumbai Port Trust (MbPT) as wharfage compensation for the transportation of crude oil through the tw

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Jet Airways' independent director Ranjan Mathai resigns

Debt-laden carrier Jet Airways (India) Ltd’s independent director Ranjan Mathai resigned late on Thursday, citing rising pressure from other commitments. The departure comes as the airline struggle

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Gold tops Rs 32,000-mark on jewellers' buying, global cues

New Delhi: Gold went past the Rs 32,000-mark by gaining Rs 90 to trade at Rs 32,040 per 10 gram at the bullion market on Thursday on fresh buying by local jewellers amid a firm trend overseas. Silv

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BoB board to consider allotment of shares to staff next week

New Delhi: Bank of Baroda (BoB) Thursday said its board will meet next week to consider allotment of fresh shares under the employee stock purchase scheme. "The board of directors of the bank is sc

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Flipkart-Walmart Deal: Income Tax Dept Issues Notice To Bansals, 35 Other Stakeholders

Flipkart cofounders, Sachin Bansal and Binny Bansal, after ending the decade-long stint with the company, are now struggling to make their way out of the after-effects of the deal. The duo, along with

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LinkedIn Launches Salary Feature In India, Says Bengaluru Professionals Highest Paid

US-based professional networking platform LinkedIn, launched LinkedIn Salary in India, which will provide users detailed salary trends for different professions. As salary negotiations are traditio

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Quikr Almost Doubles Revenue In FY18, Says Will Breakeven By Next Year

Bengaluru-based online classifieds and services portal Quikr India Pvt Ltd reported a consolidated revenue of $24.54 Mn (INR 173.49 Cr) for the year ending March 2018, a jump of 95% from its revenue f

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Amazon says error exposed customer names and emails

Amazon says a technical error on its website exposed the names and email addresses of some customers. The online retail giant says it has fixed the issue and emailed those affected. Amazon says its

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Experimental plane flies silently, may lead to quiet drones

A nearly silent, drone-sized aircraft has shown it can fly, thanks to a scientist who was inspired by watching "Star Trek" as a child. With neither propellers nor jets, the aeroplane gets its thrus

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Panasonic eyes Rs 140 crore sales from bluetooth trackers business

New Delhi: Japanese tech giant Panasonic Wednesday said it expects to clock sales to the tune of Rs 140 crore in the next one year from its bluetooth-based trackers that have been conceptualised and d

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Aviation, oil marketing cos rise on lower global crude oil prices

New Delhi: Shares of aviation and oil marketing companies surged up to 6 per cent on Wednesday due to sharp drop in global crude oil prices. The scrip of SpiceJet soared 5.63 per cent, Jet Airways

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Half of India’s ATMs may close down by March 2019

Bengaluru: Just 2.38 lakh ATMs for a country of 1.3 billion! If that’s bad enough, here comes the worst. Over 50 per cent of the ATMs are going to shut down by March 2019. The worst impacted of the cl

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With 81.3% Equity Stake In Flipkart, Walmart May Bring New Investors On Board

The US-based global retail giant Walmart has reportedly increased its share in recently acquired Indian ecommerce subsidiary Flipkart to 81.3%. Earlier in May this year, Walmart acquired 77% stake in

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Air India revives plans to raise Rs 500 cr; to mop up Rs 6,100 cr from aircraft sale

Mumbai: Debt-ridden Air India has revived its plans to raise Rs 500 crore in short-term loans (STLs) besides mopping up another Rs 6,100 crore by way of sale and lease back of seven of its wide-body p

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Agro exports can grow to USD 100 billion by 2022

New Delhi: Indian agro-exports valued $38.74 billion have a potential to grow to $100 billion by 2022 — if the export sector capitalises the opportunity opened up with the trade war between the US and

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Bitcoin for payments a distant dream as usage dries up

The use of bitcoin for commercial payments has dropped dramatically this year, even as the original digital coin starts to fulfil one of the basic features of any payment currency: stability. The v

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Global fall may bring petrol, diesel prices at same level soon

New Delhi: Even without state support, transport fuels — petrol and diesel — may soon be uniformly priced across the country if the current trend of sharper fall in global petrol prices is maintained

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JK International Chairman Akshaypat Singhania To Invest $14 Mn In Startups

Mumbai-based industrialist Akshaypat Singhania is reportedly allocating $14.01 Mn (INR 100 Cr) for supporting early stage startups which are operating in the media and entertainment, lifestyle, food a

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SAIF Partners, Axilor, Others Invest $3.3 Mn In IoT Startup DeTect Technologies

Chennai-headquartered Internet of Things (IoT) startup DeTect Technologies has raised $3.3 Mn in Series A funding from SAIF Partners, Bharat Innovation Fund, Axilor Ventures, BlueHill Capital Pvt Ltd,

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SoftBank May Invest $450 Mn In Delhivery To Make It A Unicorn

Gurugram-based ecommerce logistics company Delhivery may soon join the unicorn club with a fresh round of funding from Softbank; talks on the investment are reportedly in the final stage. A media r

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Bitcoin breaches USD 5,000, plumbs fresh 13-month low

Bitcoin fell below USD 5,000 on Monday for the first time in over a year, slumping to a fresh 13-month low on the Bitstamp platform as a broad sell-off in cryptocurrencies sparked last week gathered m

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Google-Temasek study sees USD 240 billion Southeast Asia internet economy by 2025

Southeast Asia’s internet economy is expected to exceed USD 240 billion by 2025, a joint study by Google and Temasek Holdings showed, a fifth more than previously estimated, as more consumers use thei

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E-commerce poster boy Flipkart stares at mass exodus

Bangaluru: Something is not quite right at the country’s e-com rockstar, Flipkart, after it hit a $16 billion Walmart jackpot in May this year. If sheer data is anything to go by, over 6,500 employ

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RBI decision to extend timeline for banks to meet capital norms 'credit negative'

New Delhi: Moody's Investors Service on Tuesday said RBI board's decision to extend the timeline for banks to implement Basel 3 guidelines is “credit negative” for public sector lenders. Also, the

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Sensex drops over 100 points on global selloff, profit-booking

Mumbai: The benchmark BSE Sensex fell over 100 points in early session on Tuesday, breaking its three-day winning run as metal, IT, realty and banking stocks retreated, tracking sell-off in the global

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Tatas to go slow on deal to acquire debt-laden Jet Airways: reports

Indian conglomerate Tata Sons Ltd will go slow on a deal to buy Jet Airways (India) Ltd after some directors expressed reservations at an inconclusive board meeting last Friday, the Times of India rep

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SoftBank Vision Fund Invests $300 Mn In Robotics Tech Platform Automation Anywhere

A robotic process automation company called Automation Anywhere has raised $300 Mn from the SoftBank Vision Fund. The California-based company, which was founded in 2003 by four co-founders of Indi

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Visa Strengthens India Play With Investment In BillDesk

Mumbai-based payments gateway BillDesk has raised an undisclosed amount of funding from global payments technology company Visa to develop new product lines for its payments and loyalty businesses and

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Sensex rises over 150 points ahead of RBI board meet

Mumbai: The benchmark BSE Sensex surged over 150 points and the broader NSE Nifty went past the 10,700 mark in opening trade Monday on the back of widespread gains ahead of the Reserve Bank of India's

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Thai proposal for all-powerful cyber agency alarms businesses, activists

A proposed cybersecurity law in Thailand would give a new government agency sweeping powers to spy on internet traffic, order the removal of content, or even seize computers without judicial oversight

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Facebook says it’s better at detecting rule violations

The findings were spelled out Thursday in Facebook’s second semiannual report on enforcing community standards. Facebook said it’s making progress on detecting hate speech, graphic violence and other

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Deep Kalra On Why Indian Startup Ecosystem Doesn’t Produce Jack Mas and Mark Zuckerbergs

In the aftermath of its acquisition by Walmart, India’s most-funded startup, Flipkart, witnessed the ‘unwilling’ ouster of its founders — Sachin Bansal and Binny Bansal — one after the other, for not-

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Movers And Shakers Of The Week [12-17 November 2018]

Flipkart co-founder Binny Bansal resigned from his position as the chief executive and chairman for Flipkart Group Walmart said that Bansal’s decision to step down from the post came in after an in

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Cryptocurrency This Week: IMF Advocates Fiat Cryptocurrencies And More

Bitcoin, in its game of Snakes and Ladder, has been running into snakes only, and one after the other. This week was no different. The cryptocurrency plunged by $1,000 to $5.3K on November 15, after m

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Walmart Passes Apple As No 3 Retailer In US: News From Tech & Startup World [Nov 12-18]

Electric vehicle maker Tesla has started taking orders for the Model 3 in China. In a tweet, Tesla CEO Elon Musk had announced that some of the deliveries may “begin in March however April is more cer

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Oil slump may be enough to squash ‘peak earnings’ fears

(Reuters) - American Railcar Industries Inc, majority-owned by billionaire investor Carl Icahn, is selling itself to ITE Rail Fund in a $1.75 billion deal including debt, the company said on Monday.

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Reliance pips TCS to become most-valued firm on D-Street

New Delhi: Reliance Industries (RIL) Friday rallied over 2 per cent helping the oil-to-telecom major pip Tata Consultancy Services (TCS) to become the most-valued company in terms of market capitalisa

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Sensex, Nifty end higher for 2nd session on strong fund inflow, firm rupee

Mumbai: The BSE Sensex on Friday continued its rising streak for the second day to end at near a four-week high of 35,436.33, fuelled by gains in Reliance Industries and other blue-chips amid continue

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Praising notes ban, RBI's Gurumurthy says economy would have collapsed

New Delhi: Ahead of next week's crucial board meeting of RBI, the central bank's independent director and RSS ideologue S Gurumurthy on Thursday made a case for calibration of its massive Rs 9.6 lakh

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ONGC frames strategy for higher output growth

New Delhi: Oil and Natural Gas Corp (ONGC), India's largest vertically integrated oil company, is looking at production enhancement contracts (PECs) and enhanced oil recovery techniques to boost oil a

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India's first engine-less train, Train 18, to go on trial run today

New Delhi: The maiden trial run of country’s first engine-less train will be conducted today on Bareilly-Moradabad section on a standard railway track. ‘Train 18’, developed by the Integral Coach F

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US senator to query Facebook about report on treatment of critics

A Democratic US senator said on Thursday she will ask Facebook Inc and the Justice Department about a media report that the company hired an outside firm to attack critics, warning that such action co

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Facebook defends Russia response, updates plan to curb misbehavior

Facebook Inc Chairman and Chief Executive Mark Zuckerberg on Thursday defended his response to Russian election meddling on the world’s largest social media network and issued a new plan aimed at stif

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Silicon eyed as way to boost electric car battery potential

The race to build a better electric car battery is turning to silicon, with several companies working to engineer types of the material that can boost driving range and cut production costs. About

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Tata Sons board may meet on Friday to decide on Jet Airways takeover

Mumbai: The board of Tata Sons is likely to meet on Friday to discuss a proposal to take over the Naresh Goyal-controlled Jet Airways, which is looking for investors to tide over liquidity crunch that

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Sensex jumps over 150 points on funds inflow, global cues

Mumbai: Domestic equities opened on a firm note on Friday as the benchmark BSE Sensex surged over 150 points on the back of continued foreign fund inflow and appreciating rupee. Positive leads from

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After Effects Of Binny’s Exit: Myntra Leads Resign, Flipkart Sr. Executives & Jabong Jobs At Risk

Post the resignation of Flipkart Group CEO Binny Bansal over a ‘personal misconduct’ issue raised by Walmart, the company has entered into the restructuring mode. While the leads from several departme

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Vodafone Idea to pump in Rs 25,000 crore, reports Rs 4,973 crore loss

Mumbai: In its maiden earnings announcement as a joint entity, Vodafone Idea on Wednesday reported a consolidated loss of Rs 4,973 crore for the September quarter and announced a fund infusion of Rs 2

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Sensex rises over 100 points on fresh fund inflow, strong rupee

Mumbai: The BSE benchmark Sensex rose over 100 points to 35,257.88 and the NSE Nifty regained 10,600-mark on Thursday backed by gains in auto, pharma, energy and financial stocks amid fresh foreign fu

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Infosys to hire 500 American techies in Texas

Bengaluru: Tech major Infosys will hire 500 American workers in Texas where the company is setting up a Technology and Innovation Hub, a specialised facility for telecommunications, retail and banking

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Rupee rises 24 paise against USD on fresh fund inflow, easing crude prices

Mumbai: The rupee appreciated 24 paise to 72.07 against the US dollar at the interbank foreign exchange on Thursday on fresh foreign fund inflows and easing crude oil prices. Foreign institutional

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WhatsApp Commits $1 Mn To Research Spread Of Misinformation

Messaging platform WhatsApp committed $1Mn for research on how the app is misused for misinformation, as pressure mounts by governments on the Facebook-owned company to find a solution for fake news.

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Swiggy’s Latest Funding Round May Deliver Super Quick Returns To Early Investors

Swiggy’s upcoming funding round may include about $300 Mn worth of secondary share sales by some of the Bengaluru-based company’s early investors, reports said. The latest round of funding, which i

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Logistics Player FarEye Acquires Dipper To Create Digital Freight Ecosystem

New Delhi-based logistics management startup FarEye has acquired Dipper Technologies, an internet-of-things (IoT) platform that provides visibility and predictability in freight movement. The compa

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Self Checkout App Perpule Raises $4.7 Mn In Series A Funding

Bengaluru-based omnichannel retail tech startup Perpule raised $4.7 Mn in Series A funding from Prime Venture Partners, Kalaari Capital and Venture Highway. Founded by Abhinav Pathak, Saketh BSV, a

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Nigerian ISP’s configuration error disrupted Google services

A Nigerian internet service provider said Tuesday that a configuration error it made during a network upgrade caused a disruption of key Google services, routing traffic to China and Russia. Prior

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WhatsApp to delete your data

WhatsApp has confirmed that users who have not yet backed up their WhatsApp chat and media on Google Drive will lose it. The popular communication platform, WhatsApp has confirmed that users who have

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Snap reveals US subpoenas on IPO disclosures

The US Justice Department and Securities and Exchange Commission have subpoenaed Snap Inc for information about its March 2017 initial public offering, the social media app maker told Reuters on Tuesd

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IHH assumes control of Fortis, board approves Rs 4,000 cr preferential allotment

New Delhi: The board of Fortis Healthcare on November 13 approved a preferential allotment of 23,52,94,117 equity shares to Northern TK Venture, a wholly-owned subsidiary of IHH Healthcare, at Rs 170

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Chandras to sell 50 pc of Zee Entertainment, reap Rs 8,758 crore

Mumbai: Media baron Subhash Chandra-owned Zee Group is looking to sell up to half of its stake in Zee Entertainment Enterprises to a strategic partner. In a filing to stock exchange on Tuesday, the gr

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Amazon Wholesale’s Revenues Jump By 73% For FY18

Amazon Wholesale, the US-based ecommerce giant’s Indian Business-to-Business (B2B) platform, reportedly raked in revenue of $1.68 Bn (INR 12,224 Cr) in FY18, up 73% from $970 Mn (INR 7047 Cr) in FY17

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Walmart-Flipkart Deal: NCLAT To Hear CAIT’s Appeal On December 14

After months of completion of global retailer Walmart’s $16 Bn acquisition of Indian etailer Flipkart, the traders’ community is still pushing up its last attempts to stop the deal. National Compan

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Flipkart CEO Binny Bansal Resigns Following ‘Personal Misconduct’ Allegation

Flipkart co-founder Binny Bansal resigned as the CEO of the Flipkart Group today (November 13) with immediate effect following an allegation of ” serious personal misconduct”, according to a statement

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Niti Aayog to hold meeting with digital payments industry on KYC issue

New Delhi: Niti Aayog will hold a meeting with all the stakeholders in digital payments industry over customer authentication issue after the Supreme Court verdict that restricted the use of Aadhaar d

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Little respite from high fuel costs despite falling crude oil prices

New Delhi: Despite crude oil prices falling by over 20 per cent in the last one month, the common man continues to pay high prices for petrol and diesel. While the Indian basket of crude has been hove

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Tata Sons begins due diligence to buy Jet Airways: report

Mumbai: Indian conglomerate Tata Sons is conducting due diligence on Jet Airways as it explores the purchase of a controlling stake in the cash-strapped airline, Mint newspaper reported on Tuesday cit

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Industrial growth slips to 4-month low of 4.5 per cent in Sept

New Delhi: Industrial production grew at the slowest pace in four months at 4.5 per cent in September mainly due to poor performance of mining sector and lower offtake of capital goods. The industrial

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Honda Plans Electric Vehicle Rollout By 2023-24, Not Waiting For Policy Roadmap

Japanese automaker Honda Motor is planning to roll out its electric vehicle (EV) in the Indian market by 2023-2024, adding that the company will no longer wait for the government to layout a policy ro

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After DCGI Rap, Ecommerce Cos Commit To Prevent Sale Of Fake Cosmetics

In a meeting with the Drug Controller General of India (DCGI), ecommerce companies like Amazon and Flipkart have reportedly promised to prevent the sale of “unregulated and fake cosmetics.” The inc

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Alibaba’s Singles Day Sales Hit $30 Bn, Dwarfs India’s Festive Season Sales

At the time when Indian ecommerce players bask in the afterglow of their festive season sales— which collectively recorded $2.3 Bn in Gross Merchandise Value — China’s largest ecommerce company Aliba

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Govt may sell 149 ONGC fields to private firms

New Delhi: The government is mulling selling as many as 149 small and marginal oil and gas fields of ONGC to private and foreign companies and allow the state-owned firm to focus only on big fields, s

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Sensex, Nifty back in green, all eyes on macro data

Mumbai: The BSE benchmark Sensex recovered by over 155 points and the NSE Nifty breached the 10,600-mark in opening trade on Monday on fresh buying by investors, ahead of release of macroeconomic data

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CCI Rejects Price-Fixing Allegations Against Cab Aggregators Ola And Uber

In its order dated November 6, 2018, fair trade regulator Competition Commission of India (CCI) has rejected the allegations of price-fixing made against the two leading cab aggregators Ola and Uber.

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CCI Gives Flipkart Clean Chit In Anti-Competition Case, Seller Lobby Cries Foul

Hearing a complaint against Flipkart by a lobby group representing online sellers, the Competition Commission of India (CCI) has ruled that Flipkart has not broken any rules in its selection of mercha

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India’s Volume Of Monthly Digital Transactions Rise Three Fold Since Demonetisation

The number of digital payment transactions that took place in August was recorded at 244.81 Cr, a three-fold increase from October 2016, a Ministry of Electronics and Information Technology (MeitY) re

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Ecommerce Companies Miss November 10 Deadline To Deposit TCS

Ecommerce companies may face penalties for missing a November 10 deadline to deposit tax deducted at source (TCS) on payments made to their sellers. However, according to reports, several companies ha

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Amazon Infuses $30 Mn In Amazon Pay

Global ecommerce company Amazon continues to invest heavily in India and has announced a fresh infusion of $30.35 Mn (INR 220 Cr) into its digital payments arm— Amazon Pay. The development comes cl

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GST refunds of Rs 82,775 crore to exporters cleared; Rs 5,400 crore pending as on October 31

The finance ministry said on Thursday that GST refund of Rs 82,775 crore to exporters has been cleared as on October 31, which is 93.8 per cent of the total such claims with the tax authorities.

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South Korean lawyers press govt for cryptocurrency laws, investor protection

South Korea’s lawyers lobbied the government on Thursday to quickly establish a legal framework to help develop the blockchain-based virtual currency industry and protect investors. It is rare for

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JSW Steel crude steel output grows 8 per cent in Oct

New Delhi: JSW Steel on Thursday said its crude steel output grew 7.7 per cent to 14.47 lakh tonne during October 2018. The Sajjan Jindal-led company had produced 13.43 lakh tonne crude steel in Oc

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Sensex down over 100 points on weak global cues

Mumbai: Benchmark stock indices opened on a negative note Friday following weak global cues after the US Federal Reserve left key interest rates on hold last night, but hinted a rate hike next month.

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Amazon Debuts Audible In India, Offers Introductory Pricing, Regional Content

Expanding its raft of services in the country, US-based ecommerce company Amazon has launched its subscription-based audio book service called Audible, in India. The service while still in beta mode,

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Snapdeal’s Shift In Strategy Pays Off, Trims Losses By 87% In FY18

Snapdeal is back on track. In FY18, the company trimmed its losses by 87%, recording a loss of $84.7 Mn (INR 613 Cr) in comparison to $642 Mn (INR 4,647.1 Cr) in FY17, on a consolidated basis, as it s

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UNCTAD, Alibaba Enrolls Fourth Batch In eFounders Fellowship Programme

The United Nations Conference on Trade and Development (UNCTAD) in association with Alibaba Business School has enrolled its class four of entrepreneurs in a bid to empower them to build sustainable s

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Jet Airways shares continue to gain amid reports of deal talks with Tata Group

New Delhi: Shares of Jet Airways further rose by 2 per cent on Tuesday amid reports of initiation of second round of talks with Tata Group for a deal. Jet Airways, however, termed the reports as "s

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HDFC Bank hikes deposit rates; BoB raises lending rate

New Delhi: Signalling tightening of rates, HDFC Bank on Tuesday raised interest rates on deposits by up to 0.5 per cent for various tenors, while Bank of Baroda hiked lending rates by 0.1 per cent.

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Flipkart, OYO Gains Augment SoftBank’s Q2 Profits

After reporting a loss of nearly $1.4 Bn on its Indian investments in May 2017, Softbank’s tech investment unit, Softbank Vision Fund, is finally seeing a reversal in its fortunes. In the first qua

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Walmart Invests $37 Mn In Indian Unit As Battle For Retail Sector Continues

To expand its presence in India, Walmart Investments Cooperative U.A, Amsterdam, invested $37.68 Mn (INR 275 Cr) into its Indian subsidiary Wal-Mart India Pvt Ltd, according to a filing with the Minis

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Amazon Pumps $16.7 Mn Into Logistics Arm To Upscale Delivery Services

With the wave of festive season sales rolling in, US-based ecommerce company Amazon, has invested $16.7 Mn (INR 122 Cr) in its logistics arm Amazon Transportation Services (ATS). Till date, Amazon

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Ola Starts Operations In New Zealand, After Australia, UK

Homegrown ride hailing company Ola, has now announced that it has launched its services in New Zealand and is offering rides to Auckland, Wellington and Christchurch. The company had announced its

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Indo-European Business Forum 2018 Launches Acceler8 Startup Summit

The Indo-European Business Forum (IEBF), an independent organisation facilitating a two-way flow of trade and investment between India and EU member countries, launched its startup Summit – ‘Acceler8’

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Ola accelerates international expansion with New Zealand foray

New Delhi: After Australia and the UK, Indian ride-hailing company Ola is now foraying into New Zealand and will offer it's services in Auckland, Wellington and Christchurch. The company, which sta

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SBI net profit slips 69 per cent to Rs 576 crore in Q2

New Delhi: The country's largest lender SBI Monday reported 69 per cent decline in consolidated net profit to Rs 576.46 crore in the second quarter ended September 30. The bank's net profit was Rs

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Sensex rises over 200 points, Nifty above 10,550

The National Stock Exchange's Nifty too was trading higher by 54.90 points, or 0.52 per cent at 10,578.90. Mumbai: The BSE Sensex regained the 35,000-mark by recovering over 200 points at the start o

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China’s Shunwei Capital Raises $1.21 Bn Fund With Focus On India

As business alignments of India and China continue to come closer, the investment landscape continues to lead the chart in the list of synergies. At the time when players like hotel aggregator chain O

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Amazon May Close Future Retail Deal Next Week With 9.5% Stake

With an active pursuit of making a bigger mark in Indian retail, global ecommerce company Amazon looks closer to buying 9.5% stake in Kishore Biyani’s Future Retail in a deal nearly worth $342.86 Mn (

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China’s ByteDance Tweaks App Name, Design After ShareChat Takes It To Court

Chinese content aggregator ByteDance has changed the design of its Indian language content app, Helo, and also tweaked its description on Google Play Store to ‘Share, Follow & Chat’, after the Delhi H

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Impact Investor Aavishkaar To Raise $300 Mn Fund, Eyes Vietnam, Indonesia Startups

Impact investor and advisor Aavishkaar Group is looking to raise $300 Mn for its South Asia-focused fund early next year to invest in Vietnam, Indonesia, Myanmar and Laos among others. “We are avoi

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About 1 In 5 Online Shoppers Received Fake Products: Survey

As the festive season ignites a surge in sales for ecommerce sellers, marketplaces, as well as a frenzy of buying by shoppers, a recent survey by LocalCircles, has highlighted other side of the glitz

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Chinese chipmaker's ambitions hit hurdle with US indictment

Chinese state-backed semiconductor maker Fujian Jinhua Integrated Circuit Co Ltd billed itself as a national leader in the tech industry. It planned to drive a shift towards locally made chips and end

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China's e-commerce rivals seek luxury stranglehold

China’s online giants Alibaba and JD.com are taking their battle for relevance in the lucrative luxury goods market to a new level, as they aim to crack e-commerce tie-ups with top brands that usually

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Sensex slips below 35,000 in early trade, drops 100 points

Mumbai: The benchmark Sensex slipped below the 35,000-mark by dropping over 100 points to 34,911.11 in early trade on Monday after banking, metal and auto stocks declined following weak global cues an

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Petrol price cut by 22 paise; total reduction reaches Rs 4.06 in 19 days

New Delhi: Petrol price has been cut by over Rs 4 per litre and diesel by Rs 2.33 in the last 18 days on softer international rates, a pace faster than the spike in prices witnessed in the two-month p

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SBI puts up 11 NPA accounts for sale to recover Rs 1,019 crore

SBI has reported a hefty loss of Rs 4,876 crore for the June quarter due to higher NPAs or bad loans. New Delhi: SBI has put up 11 non-performing assets (NPAs) for sale to ARCs and financial companie

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Cryptocurrency This Week: Coinbase Valued At $8 Bn, Bitcoin To Raise Global Temperature By 2°C And More

In crypto world, there has always been some kind of storm. Bitcoin, even after 10 years since its inception, has always been caught in the storm; be it, legal battles being fought across the world

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Alibaba Records Drop In Revenue: News From Tech & Startup World [Oct 29-Nov 4]

US-based ecommerce company Amazon’s business unit which primarily consists of advertising revenue recorded nearly $2.5 Bn in sales in three months as it announced its third quarter results. According

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Sensex climbs 580 points; banking, auto shares steal the show

Mumbai: Market benchmark Sensex soared almost 580 points to end at a one-month high of 35,011.65 on Friday, propelled by financials and auto stocks, amid cooling global crude prices, rising rupee and

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Axis Bank Q2 net profit jumps 83 per cent to Rs 790 crore

New Delhi: Private lender Axis Bank on Friday reported a 83 per cent jump in its net profit at Rs 790 crore for the quarter ending September on the back of healthily growth in core income and a declin

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IOC Q2 profit drops 12.6 per cent on forex losses, low margins

New Delhi: Indian Oil Corp (IOC), the nation's biggest company, on Friday reported a 12.6 per cent drop in its second-quarter net profit on the back of foreign exchange losses and lower refining margi

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Mastercard Protests PM Modi’s Promotion Of Homegrown Card Network RuPay

The debate on nationalism has reached unlikely quarters as global card payments company Mastercard complained to the US authorities that Prime Minister Narendra Modi’s promotion of domestic card netwo

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WhatsApp Partners With Invest India To Support Indian Startups

National investment promotion and facilitation agency, Invest India, has partnered with WhatsApp to promote India’s startup ecosystem and generate job opportunities in India. Together, they will or

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Google Home Assistant Goes Desi, Adds Hindi To Its Regional Language Cart

Seven months after introducing its voice-based assistants — Google Home and Home Mini — in India, Google has now added Hindi as an official communication mode to its smart speaker range. In a blog

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Ex-Snapdeal CIO And ‘Turnaround Expert’ Jason Kothari Quits Infibeam

In less than six months of a stint as the president of Ahmedabad-headquartered Infibeam, ex-Snapdeal Chief Investment Officer, Jason Kothari, has called it quits with the company. In a corporate fi

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US indicts Chinese, Taiwan firms for targeting Micron trade secrets

The US Justice Department on Thursday unveiled an indictment against two companies based in China and Taiwan and three individuals, saying they conspired to steal trade secrets from US semiconductor c

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Sensex rallies over 400 points on strong global cues, falling crude prices

Mumbai: The BSE benchmark Sensex on Friday soared over 413 points to 34,845.15 and the NSE Nifty raced past 10,500 on widespread gains amid fresh foreign fund inflows, fall in global crude prices and

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Twitter India Posts 14% Decline In Revenues In FY18

Twitter Communications India has announced a 14% decline in its revenues for fiscal year ending March 2018. According to company filings with the Registrar of Companies, the company earned a revenue o

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Walmart India Bets $500 Mn To Open 47 New B2B Stores By 2022

US retail giant Walmart is looking to further strengthen its brand presence in India as it plans to invest about $500 Mn (INR 3200 Cr) to reach a total of 70 B2B Cash and Carry stores in the country b

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PolicyBazaar Controls Losses By 78%, Revenues Jump 225% For FY18

Online insurance aggregator PolicyBazaar posted its financial performance for the fiscal year 2017-18, scoring a growth of 225% in its revenues and at the same time controlling its losses by 78%. A

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Pine Labs Makes It Back To Loss Gang For FY18 With 64.6% Increase In Expenses

New Delhi-based digital retail payments platform Pine Labs Pvt. Ltd., popularly known as Pine Labs, announced its financial performance for the fiscal year 2017-18 reporting a 55% increase in revenues

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Paytm Claims 600% Growth In UPI Transactions In Last Six Months

Digital payments company Paytm claimed that it was the largest contributor to the volume of UPI payments in India, recording a growth of 600% in transactions in the last six months. UPI, which stands

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Tata Motors posts Rs 1,009 crore loss for July-Sept

Mumbai: Tata Motors on Wednesday reported a consolidated net loss of Rs 1,009 crore for the second quarter ended September 30, 2018, mainly due to a weak performance by its British arm Jaguar Land Rov

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India will pay in rupees for Iran oil post-US sanctions

New Delhi: India will settle oil contracts with Iran in rupee using a bank in the Gulf nation post November 4 when the US sanctions would freeze all payment channels using international currency. S

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Centre softens stance as RBI holds ground

New Delhi: After an escalation of the stand-off between the Centre and the RBI in last one week, the finance ministry on Wednesday said it respects the autonomy of the central bank, within the framewo

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Fintech Company Sentieo Raises $19 Mn In Series A Funding

San Francisco and Delhi-based financial research platform Sentieo has raised Series A funding of $19 Mn (INR 140 Cr) in a round led by growth equity firm Centana Growth Partners. The company’s exis

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Ola May Raise $100 Mn From Steadview Capital At $5 Bn Valuation

Bengaluru-based ride hailing platform Ola is reportedly finalising $100 Mn investment from existing investor Hong Kong-based hedge fund Steadview Capital. Citing unnamed sources, a report by ET sta

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Blockchain This Week: IDRBT Building Blockchain Blueprint For Banks And More

As Indian authorities continue to strike down upon companies dealing with cryptocurrency in the country, the blockchain technology — backing the digital currency — is growing by leaps and bounds with

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Alibaba India Ecommerce Curbs Losses, Marks 73% Increase In FY18 Revenues

Alibaba India Ecommerce Pvt. Ltd. has recently released its financials for FY 2017-18. According to financial data accessed by business intelligence platform, Tofler, the ecommerce platform, reported

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Uber defends its business model over UK worker rights

The Silicon Valley-based company has faced protests, regulator crackdowns and licence losses around the world. Uber defended its business model at the Court of Appeal on Tuesday in the latest stage o

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Oil prices rise for first time in three days, but trade war drags

Both crude benchmarks have fallen about $10 a barrel from four-year highs reached in the first week of October. Tokyo: Oil prices climbed for the first time in three days on Wednesday, but rising sup

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Paytm Mall Limits Product Return Claims By Sellers

Paytm Mall, an ecommerce subsidiary of the digital payments company Paytm, has made certain changes to its seller policy, limiting the claims a seller can make against product returns. According to

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Amazon Starts Storing Local Payments Data Without Mirroring It Abroad

Global ecommerce company Amazon has started storing local payments data in its servers in India without making a copy of it in its overseas servers, according to a ToI report that cited anonymous sour

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BigBasket In Talks To Raise $300-400 Mn At A Valuation Of $1.5 Bn

Bengaluru-based online grocery platform BigBasket is reportedly in talks to raise as much as $300-400 Mn which will boost its valuation to $1.5-2 Bn. Citing unnamed sources, Livemint has reported

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Flipkart’s B2B And Ecommerce Arm Post A Combined Loss Of $435 Mn In FY18

Global retailer Walmart-owned Flipkart has announced its financial results for both its B2B arm – Flipkart India and ecommerce platform – Flipkart Internet. According to the documents sourced from

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Fintech Startup NIRA Raises $1 Mn From India & UK-Based Angel Investors

Bengaluru-based fintech startup NIRA has reportedly closed its seed funding round after raising $1 Mn from angel investors based in India and UK. NIRA which was founded in 2017 by Rohit Sen and Nup

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Fuel prices cut for 12th straight day

New Delhi: The downward slide in petrol and diesel prices continued on Monday after rates were cut by 30-20 paise a litre on softening international oil prices. Petrol price was cut by 30 paise a l

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Sensex, Nifty turn choppy on weak global cues, FPI selloff

Mumbai: Benchmark indices opened on a volatile note Tuesday following weak global market cues amid escalating trade tensions between the US and China, and heavy selling by foreign portfolio investors.

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Swiggy Parent Bundl Technologies Records 220% Jump In Revenues For FY18

Bengaluru-based food delivery app Bundl Technologies, which operates under the popular brandname Swiggy, announced its financial performance for fiscal 2018, recording a 220% jump in its revenues.

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Paytm Mall Scores Over 100% Jump In Revenues For FY18

Digital payments giant Paytm’s ecommerce subsidiary Paytm Mall announced its financial results for fiscal 2018, reporting a jump of 104.42% in its revenues, which touched $105.76 Mn (INR 775 Cr). Payt

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Trademark Violation Case: Delhi Court Bans Flipkart From Selling Products Under MarQ

Indian ecommerce company Flipkart, which has just wrapped up one successful festive season sale and is gearing up for another one ahead of Diwali which is set to begin from November, has landed itself

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Flipkart Co-founder Sachin Bansal May Invest In EV Startup Ather Energy

Flipkart co-founder Sachin Bansal, who is considering investments in several startups, is now reportedly planning to invest $50-100 Mn in Bengaluru-based electric vehicle maker Ather Energy. The de

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India’s Mobile Wallet Companies Want Alternate Solution To eKYC

Some of India’s top mobile wallet companies have requested the Reserve Bank of India (RBI) to provide an alternate solution to eKYC for user onboarding and verification. They said that the physical ve

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Mirai botnet hacker ordered to pay USD 8.6 million in damages

A 22-year-old hacker was ordered on Friday to pay USD 8.6 million in damages and serve six months of house arrest for helping launch a series of massive cyber attacks, the office of the US Attorney fo

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Air India to launch red-eye flights on domestic routes from Nov end

Mumbai: State-owned Air India on Saturday announced the launch of red-eye flights to some of the domestic destinations, including Goa, starting next month end. A red-eye flight departs generally la

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Sensex snaps 2-day losing streak; recovers over 150 points

Mumbai: The BSE Sensex recovered over 173.33 points in opening trade on Monday on sustained buying in recently battered stocks amid strength in the rupee. The 30-share Sensex, which lost 340.78 poi

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Amazon’s International Growth Slowed In Q3 Due To Late Diwali Sale

Global ecommerce company Amazon has announced its financial results for the quarter ending September 30, 2018, and has recorded net sales of $56.6 Bn, a growth of 29% Q-o-Q. In the list of positive

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Apple India Records 140% Jump In Net Profit For FY18

Premium smartphone maker Apple announced its results for the financial year 2018 for its Indian entity and reported a surge in net profit by 140% reaching $122.54 Mn (INR 896 Cr). The latest filing

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Cryptocurrency This Week: SC Asks Indian Govt To File Its Report In Two Weeks, Unocoin Founders Arrested, And More

In a major setback for cryptocurrency enthusiasts, the central crime branch, Bengaluru has now arrested Unocoin founders for their planned launch of cryptocurrency ATMs at various places and also seiz

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Apple boss takes aim at 'weaponisation' of customer data

Apple Chief Executive Tim Cook on Wednesday said customer data was being “weaponised with military efficiency” by companies to increase profit and called for a federal privacy law in the United States

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Sensex tumbles 301 points on global sell-off

Mumbai: The Benchmark Sensex on Thursday slumped over 301 points to dip below the 34,000-mark in early trade, largely in sync with meltdown at other Asian markets following overnight losses at the Wal

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InterGlobe shares drop after first quarterly loss since debut

Shares of InterGlobe Aviation Ltd, owner of India’s largest domestic carrier by market share - IndiGo, fell as much as 3.7 per cent on Thursday, a day after the company posted first-ever quarterly los

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Drug Controller Sends Notice To Amazon, Flipkart, IndiaMART For Selling Spurious Cosmetics

In a strict action against the sale of “spurious and adulterated” cosmetics, the Drug Controller General of India (DCGI) has issued notices to ecommerce giants — Flipkart, Amazon and IndiaMART — warni

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Fino Payment Bank Receives RBI Approval For Onboarding New Customers

The Reserve Bank of India has lifted its ban on Mumbai-based Fino Payments Bank from onboarding new customers to open new accounts effective from October 22nd 2018. According to reports, the centra

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Blockchain This Week: Maharashtra Concludes Blockchain Pilot With Four PoCs, And More

The IT sector of India is evolving at a rapid pace with the influx of new technologies like blockchain, artificial intelligence (AI), machine learning (ML), cloud, analytics, and Internet of Things (I

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Korean Shaving Major Dorco Makes Its First India Bet On LetsShave For 10% Stake

Chandigarh-based men grooming company LetsShave has raised an undisclosed amount of fresh funding from Korean razor manufacturer Dorco Ltd against a 10% stake. Headquartered in Seoul, Dorco is on

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Apple's Cook set to back strong privacy laws in Europe, US at Brussels event

Cook will describe GDPR, as an example of how “good policy and political will can come together to protect the rights of us all,” Apple Chief Executive Tim Cook is expected to praise new European pri

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Internet services sector may create 12 million new jobs by 2022

Mumbai: The Internet services sector in the country, which currently employs around one million people, is expected to create 12 million new jobs by 2022, a report said on Tuesday. The sector, valu

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HCL Tech Q2 net profit up 16.1 per cent to Rs 2,540 crore

The company expects its FY19 revenue to grow between 9.5-11.5 per cent in constant currency basis. New Delhi: Software services major HCL Technologies Tuesday posted a 16.1 per cent increase in conso

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Sensex reclaims 34,000, bounces 444 points on easing crude price

Mumbai: The BSE benchmark Sensex staged a strong comeback by climbing over 444 points to trade above the 34,000-mark in opening trade Wednesday following fresh spell of buying by domestic investors, t

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Rupee recovers 42 paise against US dollar in early trade

Mumbai: The rupee recovered by 42 paise to 73.15 against the US currency in early trade on Wednesday on fresh dollar selling by exporters amid easing crude oil prices and higher opening in the domesti

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Netflix plans to raise $2 billion to fund new content

The streaming giant said the debt will be in the form of senior notes denominated in US dollars and euros. Netflix said that it plans to raise about $2 billion in debt to fund original shows, acquire

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Amazon.com, Qualcomm to put Alexa assistant in more headphones

Under the deal, Qualcomm will release a set of chips that any maker of Bluetooth headphones can use to embed Alexa. Microchip firm Qualcomm Inc is joining Amazon.com Inc to spread the use of Amazon’s

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Fuel prices continue to decline on Tuesday

The petrol price in Delhi was revised to Rs 81.34 per litre, while that in Mumbai was Rs 86.81 per litre. New Delhi: Fuel prices witnessed further reduction on Tuesday, providing some relief to consu

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Sensex cracks 34,000-mark, Nifty below 10,200 on weak global cues

Mumbai: The benchmark BSE Sensex on Tuesday extended its losing spree for the fourth straight day and dipped below the 34,000-mark in early trade, on unabated foreign fund outflows and selling by dome

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UPI’s acceptance to give a boost to account-based payments in India

Chennai: The UPI could be a game changer for the digital payment space in India and may lead to a drastic shift away traditional cards and wallets to account-based payments, finds Global Payments 2018

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With $3.75 Bn Fund, India Among Focussed Countries For Tiger Global

Global investment firm Tiger Global has reportedly raised $3.75 Bn for its latest venture capital fund, Tiger Global Private Investment Partners XI, surpassing its initial target of $3 Bn — one of the

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Paytm Boss Vijay Shekhar Sharma Blackmailed By Employees For INR 20 Crore

Three people, including two employees, of Noida headquartered Paytm were arrested on Monday on accusations of planning to extort INR 20 Crores ($2.71 Mn) from Paytm’s founder, Vijay Shekhar Sharma.

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Fuel prices slashed for fifth day, petrol now cost Rs 81.34 in Delhi

New Delhi: In what could bring respite to citizens, fuel prices witnessed deduction on Monday. In Delhi, petrol price was slashed by 30 paise to retail at Rs 81.34 per litre, while diesel is being

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Reserve Bank of India highlights inflation spike risk, signal rate hikes

Five of six MPC members had voted for keeping rates on hold at 6.50 per cent, surprising most economists. Mumbai: The Reserve Bank of India’s monetary policy committee sees a risk of rising headline

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Flipkart grabs 51 per cent, Amazon 32 per cent of festive season sales

Chennai: Of the USD 2.3 billion gross merchandise value (GMV) garnered during the five-day online festive season sales, Flipkart cornered a higher market share of 51 per cent, followed by Amazon at 32

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IL&FS may sell financial services, energy arms

New Delhi: The Uday Kotak-led IL&FS management, readying a turnaround plan for the debt-ridden shadow bank, is preparing a list of subsidiaries that could be wound up. The list, which will be submitte

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Sensex bounces 321 points in early trade on positive Asian cues

Mumbai: The benchmark BSE Sensex on Monday recovered over 321 points in early trade on fresh buying by investors amid a firm trend in Asian markets and better-than-expected earnings from HDFC Bank.

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BigBasket Taps Micro-Delivery Segment With 3 Acquisitions

Online grocery company BigBasket has reportedly completed three acquisitions in the micro-delivery segment. The company has acquired 100% stake in milk delivery startups RainCan and Morning Cart and a

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Luxury Vacation Marketplace Rizort Is Taking A Road Less Travelled In The OTA Space

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Bike Rental Startup ONN Bikes Looking To Rev Up Its Game With Dockless Bikes

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Gujarat Govt Supports 175 Startups With $3.2 Mn Financial Aid Over 2 Years

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Taxman Alert: Ecommerce Companies May Face Audit On GST Rate Cuts

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Walmart India Ups Its Game In Wholesale With Second Fulfilment Centre

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FoodTech Startup SmartQ Acquires Nexus-Backed Goodbox Cafeteria Business

Bengaluru-based food tech startup SmartQ has acquired Nexus Venture Partners-backed Goodbox&rsquo;s cafeteria business for an undisclosed amount in an all-cash deal. &nbsp;</div

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Amazon Ready To Foray Into Indian Healthtech Market With MedPlus

Global ecommerce behemoth Amazon, which has been looking at 360-degree expansion of its portfolio, is ready to dive into the Indian healthtech market and is eyeing acquiring online pharmacy Me

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Online Used Car Marketplace Cars24 Locked In A $49.7 Mn Ride

Gurugram-based online used car marketplace Cars24 has raised $49.7 Mn (INR 340 Cr) from Sequoia Capital India, at a valuation of $250 Mn. &nbsp; Existing investor

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SME Lending Startup OfBusiness Raises $29.2 Mn In Series C

Gurugram-based SME lending startup OfBusiness has raised $29.2 Mn (INR 200 Cr) in a Series C funding round from Creation Investments and Falcon Edge. &nbsp; The f

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Online Lending Startup StashFin Looks To Raise $4.3 Mn

Delhi-based online lending startup StashFin has partnered with non-banking finance company DMI Finance to raise $4.3 Mn (INR 30 Cr) for onward lending through its online platform.

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Walmart To Shift Key Executives From Gurugram, UK To Strengthen Flipkart

Amid competition issues, legal hurdles, income tax burdens, and protests, Walmart is busy making plans for Flipkart after it completes the acquisition of this Indian ecommerce player. <

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TripAdvisor Led $25 Mn Follow-on Funding Round In Eatigo

Bangkok and India-based online restaurant reservation platform Eatigo has raised $25 Mn in a pre-Series C funding round from existing investor TripAdvisor. &nbsp;

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With $2 Mn Investment In Premium Retailers, Letstrack Looks To Deepen Its Presence In India

GPS enabled tracking solutions provider Letstrack has announced to invest $2 Mn in premium retailers under its initiative Letstrack points. These premium retailers are going to be present in e

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Google To Go Solo In Indian Ecommerce War, No Plans To Invest In Flipkart

Developments in the competitive Indian ecommerce space have been getting more exciting by the day. A few days ago, reports said that Google would be entering the space with its own venture. Pr

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Flipkart’s PhonePe Acquires POS platform Zopper Retail

Flipkart&rsquo;s digital payment subsidiary PhonePe has acquired Zopper Retail &ndash; a hyperlocal Point of Sale (POS) platform for small and medium businesses. The acquisition is a part of t

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IFFCO Launches Social Ecommerce Application ‘IFFCO iMandi’

IFFCO has launched a social ecommerce application and web portal named &ldquo;IFFCO iMandi&rdquo; to serve and connect the farmers digitally. &nbsp; The initiativ

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Amazon Pay Receive $33.5 Mn Funding Boost From The Parent Entity

The latest fund raise comes after three months. Earlier, $30 Mn were infused in Amazon Pay in March 2018. At that point of time, Amazon Pay India Head Mahendra Nerurkar, also stated that the c

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Airbus subsidiaries NAVBLUE and Aerial have signed partnerships with three Indian startups — Stelae technology, EFLIGHT, and Airpix (accelerated at Airbus Bizlab India) — to power cutting-edge technol

Airbus subsidiaries NAVBLUE and Aerial have signed partnerships with three Indian startups &mdash; Stelae technology, EFLIGHT, and Airpix (accelerated at Airbus Bizlab India) &mdash; to power

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Personalisation Of Content, Formats Is The Way Forward For Media: Gautam Sinha

During Inc42 Ask Me Anything (AMA), Times Internet chief Gautam Sinha said artificial intelligence will have a direct impact on the media industry Sinha said he is a proponent o

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Blume Launches Arka Venture Labs With Two US Firms To Support Cross-Border Growth Of Indian Startups

Blume Ventures along with Silicon Valley-based Benhamou Global Ventures (BGV) and Emergent Ventures has launched accelerator platform Arka Venture Labs Arka Venture Labs will st

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Grofers To Focus On Private Labels, Drops Fresh Products

Grofers rolled back its fresh products services in several cities including Bengaluru The company believes that Private labels can help improve margins, but it&rsquo;s not the o

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Tata Motors Buys 26% Stake In Logistics Startup TruckEasy

One of India&rsquo;s leading commercial vehicle maker, Tata Motors Ltd, has acquired a 26% stake in logistics startup TruckEasy,&nbsp; through Tata Motors Finance Holdings, a wholly-owned subs

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YourNest, IAN Invest $1.45 Mn In Virtual Reality Startup SmartVizX

Noida-based virtual reality startup SmartVizX has raised $1.45 Mn (INR 10 Cr) in a pre-Series A funding round led by YourNest Venture Capital with participation of the Indian Angel Network&rsq

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With $25 Mn Investment, Google Expands News Initiative To YouTube

After introducing Google News Initiative Training Network in India for the digital media platforms, the global giant has now expanded the programme to YouTube. &nbsp; <di

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Blockchain This Week: Tech Mahindra To Set Up Blockchain Centre, Kwikxchange To Expand To India, And More

Blockchain is a technology which has a lot of potential but it&rsquo;s also the source of a large number of frauds, highlighted the latest study by the Wharton School at the University of Penn

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Flipkart To Capitalise On Digital Advertising To Reach $200 Mn Sales By March 2019

With nearly 100 Mn registered users, Flipkart generated the third-highest revenue (after Google and Facebook) from online ads in India in 2017. It now plans to double its annualised sales from

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Telecom Commission Accepts Trai Recommendations On Net Neutrality

After the social media uproar of 2014 on net neutrality and the subsequent ongoing debate, India is ready to make net neutrality&nbsp; a reality with the Telecom Commission, the highest decisi

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Sashi Reddi Launches $100 Mn Tech-Focused Early Stage VC Fund

Sashi Reddi, a managing partner at venture capital firm SRI Capital, has launched a $100 Mn technology focused early-stage venture fund. SRI Capital Fund-I, a Delaware-registered investment ve

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After Flipkart, Walmart Looks To Make Tech Acquisition In India

The world&rsquo;s largest retailer, Walmart Inc, seems dead serious about strengthening its foothold in India. Walmart, which agreed to acquire homegrown ecommerce platform Flipkart in May, is

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BigBasket Aims To Reach $1 Bn Gross Sales Run Rate By FY19 End

Online grocery platform BigBasket plans to touch $1 Bn gross sales run rate by the end of FY19. The company recorded close to $33 Mn (INR 230 Cr) in gross monthly sales, with an annual exit ra

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Stellaris Venture Partners Led $5 Mn Funding In Social Ecommerce Startup Shop101

Social ecommerce platform Shop101 has raised $5 Mn in funding in a round led by Stellaris Venture Partners. Vy Capital, TaxiForSure co-founder Raghunandan G, and Livspace co-founder Ramakant S

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FDI In Ecommerce: Snapdeal And Shopclues Comes In Support Of New Govt Wing

Small Players of ecommerce believe that the new rules will dissuade &ldquo;malicious practices&rdquo; being done by certain platforms for some &ldquo;proxy sellers&rdquo; Severa

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Paytm Goes Global With Forex Card And Cash

Digital payments company Paytm has now ventured into forex services for top 20 international currencies. &nbsp; Earlier in April 2018, Inc42 reported that Paytm i

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Fake News Alert: WhatsApp Launches Forwards Label

WhatsApp had released full-page advertisements to educate people on the fake news WhatsApp said it will indicate which messages received have been forwarded to the user <

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Flying cheap: IndiGo offers discounts on 12 lakh seats

Budget airline IndiGo has announced a discounted sale of 12 lakh seats at fares as low as Rs 1,212, for travel between July 25, 2018 and March 30, 2019. The 4-day sale starts on Tuesday and en

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Exclusive: Ex-JustDial And Dunzo Investor Picks Up Minority Stake In CEM Startup Survaider

After successfully investing in JustDial, Rajesh Dembla has invested an undisclosed amount in Bengaluru-based customer experience management (CEM) company Survaider for a minority stake.

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Alibaba To Work With Ganesh Ventures To Scale Up Investments In India

Ganesh Ventures seeks to build a strong network of Indian entrepreneurs and Chinese investors and entrepreneurs. For this, the VC firm has made its first close of $30 Mn backed by Alibaba Foun

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Inventus Capital Marks First Close Of Its 3rd Fund At $29 Mn

Bengaluru-based early-stage venture capital firm Inventus Capital Partners has marked the first close of its third fund at $29 Mn (INR 200 Cr) to invest in capital-efficient startups within th

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Facebook May Acquire Bloomsbury AI To Combat Fake News, Netflix To Stop User Reviews, And More: News From The Tech And Startup World [2-8 July]

We&rsquo;ve kept you updated on the happenings in the Indian startup ecosystem. With the week coming to a close, it&rsquo;s time to catch up on the important updates in the tech and startup ec

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Consumer Lending Startup IndiaLends Raises $10 Mn To Launch A New Product Line

Delhi-based consumer lending startup, IndiaLends has raised $10 Mn in Series B round of funding. The investment was led by London-headquartered asset management firm ACPI Investment Managers a

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Paytm: Adoption In Tier 2 &3 Leads To A Run Rate Of 5 Bn Transactions

One97 Communications Limited, which owns digital payments company Paytm has announced that it has achieved an annual run rate of 5 Bn transactions and $50 Bn in Gross Transaction Value (GTV).<

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Y Combinator-Backed Groww Raises $1.6 Mn Pre-Series A Funding

Data science-based mutual fund investing platform Groww has raised $1.6 Mn in a pre-series A round of funding from Insignia Ventures Partners, Lightbridge Partners, Kairos, and others, with pa

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TPG May Invest $40 Mn In Interior Design Company Livspace

End-to-end home design and d&eacute;cor service provider Livspace may soon raise $40 Mn in funding from US-based private equity company TPG. &nbsp; According to r

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Reliance Industries Bets On Hybrid Online-Offline Model To Claim Top Spot In Indian Ecommerce

Reliance Industries Limited (RIL), after its successful stint in the Indian telecom sector, is now looking to write a similar success story in ecommerce. The company has reportedly announced i

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Fintech Startup Innoviti Payments Adds EMI Next With $2.9 Mn Investment

Digital payments and SME lending company Innoviti Payments has invested $2.9 Mn (INR 20 Cr) in developing new technology solutions for its point of sales (PoS) terminals. With this, the fintec

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Movers And Shakers Of The Week [02- 07 July 2018]

We bring to you the latest edition of movers and shakers in the Indian startup ecosystem. &nbsp; This week, PayPal unveiled its plans to continue with its commitm

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Funding Galore: Indian Startup Funding Of The Week [2-7 July 2018]

We bring to you the latest edition of Funding Galore: Indian Startup Funding of the week. &nbsp; This week, Ahmedabad-based ecommerce major Infibeam announced its

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11 Indian Startup News Stories That You Don’t Want To Miss This Week [02-07 July 2018]

We bring you the latest news stories from the Indian startup ecosystem &nbsp; Two of the biggest announcements impacting the Indian startup ecosystem this week we

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Ecommerce Subgroup Calls For FDI In Inventory-Led Online Retail Stocking ‘Make In India’ Products

An ecommerce subgroup has proposed the central government to allow foreign direct investment (FDI) in an inventory-led online retail model, limited to players who are stocking products under t

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Exclusive: Cross-Border Ecommerce Enabler Scale Labs Raises $1 Mn Seed Funding

Scale Labs, a Gurugram-based cross-border ecommerce enabler for brands and online retailers, has raised nearly $ 1 Mn seed funding from GPA Group, led by Vivek Agarwal, said the startup&rsquo;

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Artha Venture Fund Marks First Close Of Its $29 Mn Seed Fund

Mumbai-based Artha Venture Fund has marked the first close of its $29 Mn (INR 200 Cr) seed fund, Artha Venture Fund I, at $6 Mn. A Category-I fund, Artha India Ventures got the approval from t

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Nykaa Man To Contribute About 2% Of Nykaa’s Overall Revenue

Online beauty and wellness marketplace Nykaa has added a new section for men called Nykaa Man. This new section of Nykaa is said to contribute about 2% of the company&rsquo;s overall revenues.

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Odisha Govt To Partner With Google To Boost Its Startup Ecosystem

The Odisha government is looking to collaborate with Google to boost the startup ecosystem in the state. The government has selected 250 startups, which will partner with Google for guidance.<

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After Ministry's Warning, WhatsApp Says That It Needs Govt, Society Support

Share the blame for the game looks like the motto of digital messaging service WhatsApp. After a letter by the Ministry of Electronics and IT (MeitY) accusing WhatsApp of allowing circulation

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To Make Ecommerce Easy, SaaS Company Anchanto Raises $4 Mn From MDI Ventures

SaaS tech company Anchanto has raised $4 Mn in the first round of the Series C investment led by MDI Ventures. &nbsp; The company will be using funds to expand it

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Paytm AshaKiran Partners With Grameen Foundation To Enable Self-Employment Opportunities In Rural India

Paytm Payments Bank, under its initiative Paytm AshaKiran has partnered with Grameen Foundation for Social Impact (GFSI) to provide self-employment opportunities in banking and finance to wome

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Biyani’s Future Lifestyle Fashion Buys 30% Stake In Fashion Etailer Koovs

Kishore Biyani&rsquo;s Future Lifestyle Fashion Limited has entered into a conditional agreement with London-listed fashion etailer Koovs to buy up to 30% stake in the company.

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Digital Lending Platform LoanTap Raises $6.2 Mn From Shunwei Capital And Others

Bengaluru-based digital lending company LoanTap has raised $6.25 Mn (INR 43 Cr) in an equity funding round led by Beijing-based venture capital firm Shunwei Capital. &nbsp;</div

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Myntra And Jabong Ready To Invest $300 Mn In 3 Years

Fostering the culture of growing together, Flipkart subsidiaries Myntra and Jabong are ready to scale up their market share with plans to invest $300 Mn over the next three years.

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First Step To IPO: IndiaMART Files Draft Papers To Raise $88.24 Mn

Initial public offerings (IPOs) seem to be the new cool thing for startups. The latest company to confirm that it&rsquo;s going public is online marketplace IndiaMART, which recently filed its

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Flipkart Sets A Target Of A $17.6 Bn GMV For 2020-21

&ldquo;Setting goals is the first step in turning the invisible into the visible.&rdquo; &ndash; Tony Robbins &nbsp; It looks like Flipkart&rsquo;s acquisition by

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Paytm To Acquire Last-Minute Hotel Booking Startup NightStay

Paytm is reportedly looking to acquire the Noida-based last-minute hotel booking app, NightStay, for around $20 Mn. &nbsp; While the development was confirmed by

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CAIT May Move Supreme Court To Protest Against Walmart-Flipkart Deal

According to recent reports, traders and shopkeepers have decided to oppose the Walmart-Flipkart deal vehemently and are ready to move the Supreme Court (SC), if required, to protect their int

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Exclusive: AI-Based Podcast And News Curator Hubhopper Raises Funds

Delhi-based podcasts and publishers-focused content aggregator Hubhopper has raised an undisclosed amount of funding from Mumbai-based venture capital firm Unit-E Ventures. &nbs

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Central Govt Warns WhatsApp To Stop The Circulation Of Irresponsible And Explosive Messages

These are days of bad news for WhatsApp in India. Now, the Ministry of Electronics and IT has accused WhatsApp of the circulation of irresponsible and explosive messages. The Ministry has issu

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Flipkart Thrust For Fintech Begins, Applies For NBFC Certification To Focus On Customer Lending

Flipkart is now looking to place its thrust on the Indian fintech market which is said to be worth $2.4 Bn by 2020. In a recent development, the company has applied for an NBFC licence to furt

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Tata Group Brings ‘One Tata Approach’ To Address Needs Of Electric Vehicles Segment

The traditional automobile industry has for a while recognised the importance of pre-sale and after-sale services in providing a holistic experience to customers. However, this is yet to exten

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Ecommerce Major Infibeam To Raise $292 Mn To Set Up Its Payments Bank

Ahmedabad-headquartered ecommerce major Infibeam is now all set to expand business in IT segment and is looking to set up its payments bank and also raise $292 Mn (INR 2000 Cr).

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How Did The SaaS Market In India Reach Its Current Boom? Zoho's Sridhar Vembu Explains

Expected to reach $1 Bn by 2020, the Indian SaaS/enterprise software market currently accounts for 9% of all software sales. The SaaS market in India is expected to cross $50 Bn in the next 10

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Facebook Leaks Data Of 120 Mn Users, Amazon Buys PillPack, And More: News From The Tech And Startup World [June 25-July 1]

We&rsquo;ve kept you updated on the happenings in the Indian startup ecosystem. With the week coming to a close, it&rsquo;s time to catch up on the important updates in the tech and startup ec

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Walmart To Arrange Funds For Flipkart Deal By June 2019

After announcing the deal to buy Indian ecommerce company Flipkart, Global retail giant Walmart has been engaged in arranging the funds for the deal. The new reports have revealed that the US

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PayPal Continues To Focus On India, To Hire 600 Techies

Global digital payments company PayPal continues to remain committed towards India. It has identified the country as a key growth market and plans to hire 600 techies by December 2018.

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Tesla Sues Ex-Employee, Google Partners With JD And More: News From The Tech And Startup World [June 18-24]

We&rsquo;ve kept you updated on the happenings in the Indian startup ecosystem. With the week coming to a close, it&rsquo;s time to catch up on the important updates in the tech and startup ec

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Startup Events To Attend This Week: Cisco India Summit 2018, GSF TechTales And More

Here is Inc42&rsquo;s latest edition of startup events coming up this week. &nbsp; But before we dive into what&rsquo;s in store for this week, let&rsquo;s catch

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Govt. May Delay Implementation Of Tax Collection At Source For Ecommerce Companies

With continued changes to the provisions of Goods and Services Tax (GST), the government may now defer the implementation of tax collection at source (TCS), a major relief for ecommerce servic

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WhatsApp Uses Facebook For Payments, May Back Multiple UPI Apps

Facebook-owned messaging giant WhatsApp has been testing its payments services on the Facebook platform in India. In a media statement, a WhatsApp spokesperson confirmed that it uses parent Fa

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Flipkart Aims To Be “Exclusive” Fashion Stop Shop, Targets $1.7 Bn In GMV Via Fashion Business

Flipkart is looking to set itself as the fashion stop shop of India by bringing in more exclusive products on its platform. Reportedly, the online retailer is aiming to invest heavily in this

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Paytm To Provide Life Insurance Cover To Offline Partner Stores

Paytm, in its push towards digital payments has taken yet another step. The One97 Communications owned company has announced to offer life insurance cover to eligible offline partner stores an

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B2B Office Supplies Etailer Aahaa Stores Raises $2 Mn From UAE Based Calega

Being in operation for almost five years, the New Delhi-based etailer Aahaa Stores has now raised its third round of funding from a UAE-based global investment Group Calega. &nb

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Cryptocurrency This Week: Github Compromised, India To Hit Bitcoin Roadblock And More

Notwithstanding the Bitcoin hype, the cryptocurrency, having called the GOAT currency by many, has been performing as Messi in the FIFA world cup. &nbsp; And, as

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A Masterclass By Wingify's Paras Chopra On How To Build A Successful SaaS Startup In India

As India continues to bolster its startup ecosystem, software-as-a-service (SaaS) continues to remain a strong focus area. The SaaS market in India is expected to cross $50 Bn in the next 1o y

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How Bootstrapped QuackQuack Became The Fastest Growing Dating App In India And Got 3.5 Mn Users

3.5 Mn screened singles, 120k new signups every month, a 2x growth in user base compared to the previous year, and a total of 4 Mn messages exchanged every month! These numbers would evoke won

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Beauty Products Marketplace Purplle Raises $2.57 Mn Funding

Mumbai-based online beauty products marketplace Purplle has raised $2.57 Mn (INR 17.5 Cr) from a clutch of investors in a fresh funding round. &nbsp; According to

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In War With Flipkart: Amazon To Strengthen Its Logistics Service With GeoTagging And New Age Tech

As Walmart nears the completion of its deal with Flipkart, Amazon is leaving no stone unturned to push ahead its strategies to keep up with its arch-rival, Walmart. Amazon India is now looking

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As Swiggy Enters Unicorn Club, Zomato Readies For Foodtech War By Seeking $400 Mn In Funding

Soon after Swiggy raised $210 Mn funding and marks its entry to the Unicorn club, foodtech major Zomato is now reportedly in talks to raise $400 Mn funding. &nbsp;

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Consumer Protection Bill 2018 To Address Woes Of Ecommerce Customers

According to a report by Morgan Stanley, India&rsquo;s ecommerce market is expected to touch $200 Bn by 2026 from $ 38.5 Bn as of 2017. With the rapid rise of the ecommerce sector in the count

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Blockchain This Week: Kerala To Leverage Blockchain For Grocery Distribution And Other News

While globally, blockchain-based startups have succeeded to raise around 1.3 Bn from VC funds, Indian blockchain-based startups have reportedly raised a mere $5.3 Mn in the last two years (Jan

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SoftBank Will Support OYO Hotels In China: Masayoshi Son

After being part of four funding rounds worth $512 Mn in OYO Hotels since August 2015, suddenly SoftBank seems to be putting all its hopes on this Gurugram-based hotel room aggregation company

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Electric Vehicles This Week: CK Birla's Avtec To Invest $88Mn In EVs, Mahindra Electric To Partner With Ola And Uber, And More

The Society of Electric Vehicles Manufacturers (SMEV) of India has urged the Centre to make policies that will help manufacturers in the short-term &mdash; starting with a period of three mont

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Walmart Is Selling Bonds In The US To Buy A 77% Stake In Flipkart

As the Flipkart-Walmart deal shapes up with the companies seeking permissions from the Competition Commission of India (CCI) and ironing out taxation issues, the next focus for global retailer

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Flipkart To Make Another Bet On Customer Loyalty Programme, But In A Unique Way

Indian ecommerce company Flipkart is ready to make another bet on its customer loyalty programme, but in a unique way. Rather than charging an upfront fee for the membership, the Flipkart cust

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Paytm Acquires Tech Startup Cube26, Which Is Backed By Tiger Global And Flipkart

Digital payments giant Paytm has acquired New-Delhi based Cube26, a tech startup backed by Tiger Global and Flipkart with $7.7 Mn Seed funding in 2015. Cube26 has customised Android OS and dev

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UPI Transactions Touch 190 Mn Mark In April 2018: NPCI

The volume of transactions on the Unified Payments Interface (UPI) has reportedly reached a staggering number of 190 Mn in April, with a nearly 7% month-on-month growth rate. &n

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Cambridge Analytica Shuts Down, Files For Insolvency Proceedings In UK

While Facebook tries to revamp itself following the data breach scandal, the counterpart of data leak viz Cambridge Analytica has decided to shut down and has filed applications to commence in

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Paytm Mall Signs Strategic Partnership With ASUS, Launches Its PoS

The Taiwanese gadgets manufacturer seems to be reaping the Indian ecommerce unicorns&rsquo; user base to strengthen its roots in the country. Just a few weeks after signing an exclusive partne

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Flipkart Sets Aside $400 Mn For Buyback From Minority Shareholders

While the Flipkart-Walmart deal inches closer, the ecommerce giant has set aside $400 Mn to buyback shares of minority investors in an attempt to revamp itself as a private limited company in

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ETMONEY Embarks Into Lending Business With The Launch Of CreditLine

Times Internet-backed ETMONEY (formerly, SmartSpends) in partnership with RBL Bank has launched a mobile app-based money lending platform ETMONEY CreditLine. The launch marks ETMONEY&rsquo;s e

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Punit Soni’s Healthtech Startup Suki Raises $20 Mn Funding From Venrock, First Round, Social Capital

AI enabled healthtech startup Suki (formerly called Robin), founded by ex-CPO of Flipkart Punit Soni has raised $20 Mn led by Venrock, First Round, Social Capital, as well as individual Google

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Flipkart Sets Aside $400 Mn For Buyback From Minority Shareholders

While the Flipkart-Walmart deal inches closer, the ecommerce giant has set aside $400 Mn to buyback shares of minority investors in an attempt to revamp itself as a private limited company in

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Blockchain This Week: IIT Kanpur’s $5 Mn E-Governance Project, UK’s Zebi To Foray Into Indian Market And More

Blockchain is slowly but steadily spreading across the verticals, changing lives. Leading companies, government institutions and universities across the world have already taken several initia

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Digital Media Queens, Suchita Salwan And Priyanka Gill, Tell How To Win The Game

A report titled &lsquo;Mobile Internet in India 2017&rsquo; estimates the number of mobile Internet users in India to reach 478 Mn by June 2018. With such a deep Internet penetration in India,

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Startups To Be Goa’s New Backbone: Rohan Khaunte, Goa’s Minister For Revenue, IT, Labour & Employment

Goa, which is most commonly known as a holiday destination, is increasingly seeing solo entrepreneurs and startups budding in the state. Credit it to the work-life balance that the state provi

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6 Ways B2B Companies Can Use Social Media To Communicate With Potential Customers

Question: What&rsquo;s one-way B2B companies can use social media to communicate with potential customers? &nbsp; Create Valuable Content &ldquo;Mo

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How UrbanClap Survived The Hyperlocal Bubble In 2016

&ldquo;Focus on the quality of experiences, both for our service professionals as well as our users, helped the company survive the hyperlocal bubble.&rdquo; UrbanClap founder Abhiraj Bhal ave

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2 Days, 3 Leaks: Who Needs To Break 'The 5 Ft Thick Wall' Of UIDAI If Aadhaar Data Is Available Online?

Powered By Inc42 BrandLabs &nbsp; 222 SHARES FacebookTwitterLinkedin In the times of Facebook&rsquo;s apology over tr

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India's Next Tech Challenge: Redefining Social 3.0 And Giving Power To The “Peepul”

India is home to 270 Mn Facebook users, the highest for the social media giant globally. But after recent controversies where data of users were harvested on a massive scale (87 Mn) by a third

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Walmart Likely To Occupy 40% Of Flipkart 10-Member

As the deadline for Flipkart-Walmart deal nears, reports have surfaced that Walmart is likely to gain about three to four seats on the 10-member board of homegrown ecommerce unicorn Flipkart,

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Future Group Goes Amazon Prime Way To Launch Grocery Delivery App

In February 2018, when Future Group CEO Kishore Biyani met Amazon Chief Jeff Bezos in the US, it looks like a partnership is brewing between the two companies. However, it seems that Biyani&rs

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Google’s Alphabet To Participate In Flipkart-Walmart Deal

As speculations of the Flipkart-Walmart deal continue to create a buzz, the global retailer is now planning to involve Google&rsquo;s parent Alphabet taking a stake in Flipkart for nearly $1-2

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With $97.41 Mn Booster, Gionee Plans To Stay Ahead Of Xiaomi, Huawei

Chinese smartphone brand Gionee is planning to invest around $97.41 Mn (INR 650 Cr) in 2018 as it&rsquo;s striving to the bring the smartphone among the top five smartphone brands in the count

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Paytm Launches Offline Payments Solution Paytm Tap Card

After revamping its app, Paytm has now introduced a new payments solution, Paytm Tap Card. &nbsp; Paytm Tap Card uses near-field communication (NFC) technology to

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Alteria Capital Raises $15 Mn From SIDBI For Its $150 Mn Maiden Venture Debt Fund

Venture debt firm Alteria Capital has raised $15 Mn (INR 100 Cr) for its $150 Mn (INR 1,000 Cr) maiden debt fund. The capital, as per reports, has been secured from Small Industries Developmen

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Government Slams Facebook And CA With Second Notice Over Cryptic Response

The Indian government has sent a second notice to Facebook and Cambridge Analytica aka CA after finding discrepancies between the earlier responses by the two companies during the case of data

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Foodtech Startup Swiggy Launches Central Kitchen - Swiggy Access

At the time when rival Zomato is pushing to increase revenue with its paid subscription programme Zomato Gold, Bengaluru-based foodtech startup Swiggy has announced the launch of a strategic i

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Food Delivery Startup Swiggy To Foray Into Hyperlocal Segment, Starting With Medicines And Groceries

Bengaluru-based online restaurant search and food delivery startup Swiggy is reportedly looking to foray into the hyperlocal vertical, particularly the medicine and grocery categories. The mov

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Tata Will Sell Its 27 Year-Old E-Learning Platform, Tata Interactive Systems To MPS Ltd

Tata Industries Ltd, a subsidiary of Tata Sons, has announced that it will sell its e-learning solutions unit, Tata Interactive Systems, to Noida-based publishing services company MPS Ltd. The

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Paytm Mall Gets $110 Mn Fund Infusion From SoftBank And Alibaba

Paytm Mall has received the third of the four tranches as part of its larger $455 Mn funding round, as per the latest filings with MCA. The ecommerce major has now received $220 Mn of the tota

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Nexus Venture Partners Led $1.6 Mn Funding In Dev Tools Startup Hasura

Bengaluru and San Francisco based developer tools startup Hasura has raised $1.6 Mn in a Seed round of funding led by Nexus Venture Partners along with GREE Ventures. &nbsp;</di

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Quikr Loses Unicorn Status, Valuation Falls To $885 Mn

In a major devaluation in the online classifields industry, Swedish investor AB Kinnevik has marked down the valuation online classifieds platform Quikr by 12% to $884.94 Mn as of December, 20

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What The Financials] With Rising Losses Of Over $19 Mn, MobiKwik Has A Long & Strenuous Road To Profitability

In the Indian digital wallet space, the two names that come to the mind simultaneously are Paytm and MobiKwik. Having been founded at around 2010, both Paytm and MobiKwik had a very similar tr

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Yuvraj Singh Backed JetSetGo Acquires Aircraft Operator Indo Pacific Aviation

Yuvraj Singh backed JetSetGo, a Delhi-based marketplace for private jets and helicopters has taken yet another step towards its aim to revolutionise the private aviation business. The company

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Blockchain This Week: Redefining Social 3.0, ALAX India Plans And More

Hello there, this week we bring you the 2nd edition of news from the world of the blockchain.&nbsp;&nbsp; &nbsp; Exuberant support or pessimism often divide opini

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New Hurdles For Amazon India’s Food Retail Plans

Ecommerce behemoth, Amazon India, has got yet another trouble to address before it can expand its food retail venture in India. This time, it is DIPP (Department Of Industrial Policy And Promo

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Paytm Scouts For Alibaba Pictures Owned TicketNew To Fight Rival BookMyShow

As digital payments and ecommerce giant Paytm strives to make a formidable place for itself in the entertainment ticketing business, it has inched further towards advanced talks with Chennai-b

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DevOps Accelerator JFrog Expands India Presence With New Office In Bengaluru

US-based DevOps accelerator JFrog entered India in June 2017, with the acquisition of DevOps Intelligence platform CloudMunch. With its new office in Bengaluru, JFrog is now aiming to accelera

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Google Brings Curated Job Search Feature To India

In yet-another India focused product, global search giant Google has now introduced job search feature for India under Google for Jobs. &nbsp; In a Google blog po

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8 Mn Videos Removed In Three Months: Youtube In Its Community Guidelines Report

Amid Facebook security flaws being a major concern, YouTube, keeping up with its promises of expanding its work to remove content that violates its policies, has released the first YouTube Com

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Banks And Digital Wallets To Now Target 30 Bn Digital Payments In FY 2018-19

If we go by the recent reports, the digital payments adoption in India is on a constant rise. However, the government does not seem satisfied with the progress. The cash crunch issue which cau

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After Coatue Management, Swiggy Now In Talks To Raise Funding From DST Global

Just over two months after securing $100 Mn in a Series F funding round led by Naspers at a valuation of $700 Mn, homegrown online food delivery startup Swiggy is reportedly in talks with Hong

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On A Mission To Digitise Global OPD Processes, Healthtech Startup Doxper Raises $1.1 Mn Funding

Taking the total funding raised to date to $1.9 Mn, Doxper has raised $1.1 Mn in a Pre-Series A funding round led by existing investor Vidal Healthcare. Earlier, in August 2017, it raised $750

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Flipkart-Walmart Deal Is Good For Indian Ecommerce: Amazon India Head

As Amazon seems losing its deal around Flipkart, the Amazon India Head is now all bullish over Walmart acquiring its arch-rival. In a recent media statement, Amazon India country head Amit Aga

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Blume, Goldbell Invests Another $1.6 Mn In Car Service Startup Pitstop

Bengaluru-based car repair and servicing startup Pitstop has raised $1.6 Mn in a Pre-Series A funding round from its existing investors Blume Ventures and Singapore-based Goldbell Group.

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Two Startup Founders Arrested In Connection With Amit Bhardwaj’s $300 Mn Cryptocurrency Ponzi Scheme

Following the arrest of the mastermind behind the $300 Mn cryptocurrency scam, Amit Bhardwaj, the police has now made two more arrests. According to reports, Sahil Baghla (former Bluegape foun

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Amazon Backs Capital Float With $22 Mn In Series C Funding

SAIF Partners and Sequoia India-backed online lending platform Capital Float has raised $22 Mn in a follow-on Series C funding round of $22 Mn from Amazon Inc. &nbsp; <di

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ATS group firm HomeKraft to invest Rs 500 cr on 1st housing project

ATS group firm HomeKraft to invest Rs 500 cr on 1st housing project Realty firm HomeKraft today said it will invest Rs 500 crore over the next five years to develop its first pr

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Paytm says it has 100 million KYC-compliant m-wallet users

BENGALURU: Paytm has claimed it has 100 million KYC compliant mobile wallet customers out of 220 million using its payments service. The Noida-based company has been able to make 45% of its m-

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Amazon to double down on groceries; foray deeper into fresh produce in India

BENGALURU: Amazon.com Inc expects groceries and household products to account for over half of its business in India in the next five years, as it moves to broaden offerings in the segment and

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Cryptocurrency: Delhi High Court Issues Notice To RBI And Others

Accepting the petition filed by Ahmedabad-based cryptocurrency startup Kali Digital EcoSystems, the Delhi High Court has now issued a notice to the Reserve Bank of India (RBI), The Union of In

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Punit Soni On What It Takes To Traverse Both The Indian And Silicon Valley Startup Ecosystem

At the time when the Indian Startup Ecosystem has been bolstering itself with activities in various segments after recording over $13.5 Bn across 885 deals in 2017, the trend continued with Q1

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Online Beauty Marketplace Nykaa Grabs $11.32 Mn Funding At $453 Mn Valuation

With an aim to become profitable by FY19, online beauty marketplace Nykaa has secured $11.32 Mn (INR 75 Cr) in a funding round at a valuation of $453 Mn (INR 3,000 Cr). &nbsp;</

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How Online Pharmacy Medlife Is Making Healthcare Accessible For 5 Lakh+ Users Across 40 Cities

Online pharmacy startup Medlife co-founder, Tushar Kumar opines, &ldquo;Over a period of time, I realised that the healthcare system in India is extremely chaotic. People don&rsquo;t know wher

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With 180 Mn Customers, 500+ Corporate Clients, Renu Satti Of Paytm Payments Bank Is Shooting For 500 Mn Bank Accounts By 2020

320 Mn+ registered users. 1 Bn transactions per quarter. $20 Bn (INR 1.3 Lakh Cr) annualised gross transaction value (GTV). 7 Mn offline merchant base. $2.3 Bn in total funding. The homegrown

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Ministry Of Commerce Directs RBI And ED To Address Allegations Against Ecommerce Giants

In the wake of allegations by Indian Cellular Association (ICA) and retailer giants that ecommerce major Amazon and Flipkart are violating FDI rules by &ldquo;influencing prices on their platf

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Walmart May Acquire Flipkart As Early As Next Week

Following the ongoing talks between Walmart and Flipkart, reports have surfaced that Walmart may finalise its deal with Flipkart &ldquo;as early as next week&rdquo;. &nbsp;</div

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AI And IoT Focussed Tea Retailer Chai Point Raises $20 Mn In Series C Funding

Bengaluru-based tea retailer Chai Point has raised $20 Mn in Series C round of funding led by Paragon Partners. All existing investors &ndash; Eight Roads (Fidelity&rsquo;s India PE arm), Saam

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Fantasy Gaming Startup Dream11 Looks To Raise $100 Mn From Tencent

Mumbai-based fantasy gaming startup Dream11 is looking to raise $100 Mn from Chinese Internet conglomerate Tencent, following the latter&rsquo;s interest in the Indian gaming industry.

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We Will Double Down On Our Growth Strategy In India: Uber COO Barney Harford

Uber COO Barney Harford is on his India visit and unlike the CEO Dara Khosrowshahi&rsquo;s polite attitude towards the rival Ola, he seems to be quite aggressive on taking a better positioning

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TR Capital Raises Its Stake In Lenskart To 10% Post Secondary Share Sale

In yet another successful secondary investment in India, TR Capital has announced that it now holds more than 10% stake in Indian eyewear startup Lenskart. &nbsp;

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Prime Added Maximum Users In India In Its First Year In Amazon’s History: Jeff Bezos

In its latest Annual Shareholder letter, Amazon Inc. founder Jeff Bezos has claimed that its paid subscription service, Prime, added more members in India in its first year than any previous g

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Updated: Facebook Integrates Mobile Recharge On Its Marketplace; Payments Feature Still Not Available In India

Amid news pertaining to the Facebook data leak, non-users&rsquo; data tracking and Mark Zuckerberg&rsquo;s testimony in the US Congress, the social media giant has been working on a host of ad

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Ibibo Group Secures $9.83 Mn Cash Infusion From The Parent Company

Ibibo Group has secured a fund fusion of $9.83 Mn (INR 65 Cr) in March 2018 from its Singapore-based parent company Ibibo Group Holdings (Singapore) Pte. Ltd, according to recent filings with

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Amid Cash Crunch, Mobile Wallets Register Significant Drop As Users Shy Away From Full KYC

Despite demonetisation, cash still remains the primary means of payments India, as evident from the cash crunch that is currently brewing in the country. Along the sidelines, it seems that tra

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Centre Sets Up Inter-Ministerial Group To Address Ecommerce Issues

Days after reports surfaced that the government has set up an ecommerce think tank, Union Commerce Secretary Rita Teaotia has revealed that the government has now set up up an inter-ministeria

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With Expansion Goals In FY19, Logistics Startup Lynk Raises $3 Mn In Funding

Chennai-based logistics startup Lynk has raised $3 Mn (INR 20 Cr) in funding from the existing investor Ramco Group. The promoters &ndash; P.R. Venketrama Raja (Chairman &ndash; Ramco Systems)

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Walmart Devises Strategies To Retain Top Executives Of Flipkart Following The Deal

As the speculations make rounds, Flipkart-Walmart deal is seeing its near-the-completion talks, latest being the retention of top executives. &nbsp; The reports q

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B2B Commerce Platform OfBusiness Raises $11 Mn From Zodius Capital, Others

B2B commerce company OfBusiness has raised about $11 Mn (INR 75 Cr) in a round led by Zodius. Existing investor Matrix Partners also participated in the round. &nbsp; <di

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Nandan Nilekani Invests $2 Mn In Assisted Ecommerce Startup ShopX

Bengaluru-based assisted ecommerce startup ShopX, run by 10I Commerce Services, has raised $2 Mn (INR 13 Cr) in funding from strategic investor Nandan Nilekani. &nbsp; <d

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Hello Network CEO Orkut Büyükkökten Seeks Investment From Indian Investors

The newly launched social network platform by Orkut B&uuml;y&uuml;kk&ouml;kten, Hello Network Inc., is in talks to gain strategic partners in India. It is aiming to raise funds from Indian inv

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Flipkart Signs Exclusive Partnership With ASUS To Bring India Focussed Products

Propelling its leadership in smartphone segment, homegrown ecommerce major Flipkart has signed a Memorandum of Understanding for an exclusive partnership with Taiwanese smartphone maker ASUS.<

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Ola To Lead $7 Mn Funding In Scooter Rental Startup Vogo

Soon after the acquisition of Ridlr, homegrown cab aggregator Ola is now in talks with Bengaluru-based scooter rental startup Vogo Automotive to lead a $5-7 Mn round of funding in the startup.

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Indian ride-hailing firm Ola to add 10,000 electric three-wheelers to fleet

NEW DELHI (Reuters) - Indian ride-hailing firm Ola, backed by Japan&#39;s SoftBank Group, said it will add 10,000 electric three-wheelers to its fleet over the next 12 months as part of a plan

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News Roundup: 13 Indian Startup News Stories That You Don’t Want To Miss This Week [9-14 April 2018]

We bring to you the latest dope of the Indian startup news stories of the week from the Indian startup ecosystem. &nbsp; One of the biggest news impacting the Ind

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How To Find A Mentor Who Will Help You Propel Forward

As a founder, it is your responsibility to surround yourself with the right team, early adopters and investors, as they can make or break your business. However, it can be difficult to make th

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Omnivore Adds Precision Agriculture Startup AgNext To Its Agritech Startup Portfolio

Impact venture fund, Omnivore, has invested an undisclosed amount in Chandigarh-based agritech startup AgNext through its second fund Omnivore partners India Fund 2. The deal also saw particip

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Cognizant And Indian Insurers Jointly Develop Blockchain Solution For Secure Data Sharing

IT services giant Cognizant, along with a consortium of Indian life insurers have developed a blockchain based solution to facilitate secure data sharing among companies. The technology is des

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Turning Dirty Laundry Into A Profitable Business: UClean On A Path To Disrupt The $34 Bn Unorganised Market

&ldquo;Behind every successful woman is a basket of dirty laundry,&rdquo; Sally Forth quips in Greg Howard&rsquo;s famous daily comic strip by the same name. The statement, Arunabh Sinha will

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AI Focussed Edtech Startup Embibe To Receive $180 Mn Strategic Investment From RIL

Reliance Industries Limited (RIL) has reportedly agreed to invest over $180 Mn into AI-based education platform, Embibe over the next three years. This will put RIL in a position to buy out ar

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[What The Financials] With ARR Of $9.30 Mn And CAGR Of 75% - BYJU'S To Breakeven In Less Than 2

In March 2018, BYJU&rsquo;S quietly became India&rsquo;s first edtech company to enter the country&rsquo;s rarefied unicorn club, crossing $1 Bn in estimated worth. With around 2500 employees,

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India's Coinsecure exchange says $3 million worth of bitcoins stolen

NEW DELHI (Reuters) - Coinsecure, an Indian cryptocurrency exchange, said nearly $3 million were stolen from its bitcoin wallet, the biggest reported so far in the country&#39;s fledgling virt

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Instamojo Records 118% Growth In FY18, Now Looks To Cross GMV Run Rate Of $923.7 Mn In FY19

Bengaluru-headquartered Instamojo, a micro products and digital payments platform for SMEs, has shared its annual performance report for FY 18. &nbsp; In the late

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Personalisation Tech: The Key To The Future Of Marketing Automation

Personalisation is soon becoming a core strategy for brand marketers today. Personalisation leaders stand to capture a substantial share of the market along with the profits, leaving the slow-

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Amidst Merger Talks With Ola, Uber COO Barney Harford To Visit India

It seems Uber&rsquo;s relationship building exercise with the Indian government and business leaders is not over yet. Within two months of Uber&rsquo;s CEO Dara Khosrowshahi&rsquo;s India trip

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Flipkart Challenges Income Tax Department’s Decision; Says “Can’t Pay Tax On Fictional Income

In response to the Income Tax panel&rsquo;s refusal to stay the $17.2 Mn (INR 110 Cr) tax penalty on Flipkart for FY15-16, the homegrown ecommerce major has once again challenged the IT depart

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Amazon Wedges Itself In The Acquisition Deal Between Walmart And Flipkart, Offers $2 Bn Breakup Fee

Days after Walmart completed due diligence on Flipkart, global rival Amazon has reportedly offered a breakup fee of around $1 Bn to $2 Bn to the homegrown ecommerce unicorn, thus wedging itsel

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Google Files Appeal To NCLAT Against The CCI Order

Months after CCI (Competition Commission of India) charged $21 Mn (INR 136 Cr) fine on Google for conducting unfair business practices in India for online search, the global search giant has n

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If You’re Interested In Open Source Development, Wingify’s Paras Chopra Is Ready To Fund Your Projects

After leading Wingify to success, founder Paras Chopra has been constantly tweeting about his interest in open source and his willingness to support open source development in India. <d

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[What The Financials] $52.7 Mn In Funding And $900K Revenues - Coverfox’s Financials Show That Online Insurance Has A Long Way

With the rush of venture capital investments in Indian fintech over the past few years, sectors like lending, insurance tech, etc., besides digital payments, have seen a surge of investor inte

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Built For And With Driver Partners, Uber Launches New Partner App In India

The ride-sharing company, Uber, is fueling its ambitions across the globe amidst dissatisfied drivers who recently went on mass strikes. Therefore, Uber CEO Dara Khosrowshahi&rsquo;s recent bl

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Govt's Major Push To Promote Startups In India, FFS Funds 109 Startups

In an attempt to boost entrepreneurship, the Department of Industrial Policy and Promotion (DIPP) has already disbursed $79.7 Mn (INR 517.92 Cr) under its Fund of Funds for Startups (FFS) init

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Meru Cabs To Now Focus On B2B Clients To Face Off Ola, Uber

After adopting marketplace model, homegrown cab service provider Meru Cabs is now looking to focus on B2B clients to address its falling revenues with Ola and Uber taking the lead in the B2C c

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PayPal To Deepen Its India Presence; To Focus On Tier II & III Cities Too: India MD Anupam Pahuja

In a slew of moves made by PayPal, the global digital payments giant is showing its keenness to work towards dominating the Indian market. In a recent conversation with Inc42, Anupam Pahuja, M

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After Ridlr, Ola Is Now Looking To Acquire Foodtech Startup FreshMenu

Days after Ola announced the acquisition of Ridlr, the cab aggregator is now said to be in talks to acquire foodtech startup FreshMenu and another similar startup. &nbsp;

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Fundamentum Leads $12 Mn Series C Funding In Travel Marketplace TravelTriangle

Gurugram-headquartered travel marketplace TravelTriangle has raised $12 Mn (INR 78 Cr) in a Series C round of funding led by growth-capital fund Fundamentum. Existing investors &ndash; SAIF Pa

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With 50% Of All Job Postings On Indeed, Bengaluru And Mumbai Leads In Blockchain Job Creation

Data released by job site Indeed shows that there has been a significant demand for professionals in the blockchain sector leading to a boom in the blockchain job creation, with jobs concentra

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Mark Zuckerberg’s Next Apology In Line? WhatsApp Sharing Users’ Payments Data With Facebook

While the news regarding Facebook data leak with Cambridge Analytica is still boiling all around, in another news revelation, WhatsApp &ndash; freeware messaging and VoIP service by Facebook &

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Indian-Origin Researcher Develops Wearable Device to Transcribe Words 'Spoken in Your Head' [Watch Video]

Researchers including two of Indian origin at Massachusetts Institute of Technology (MIT) have developed a computer interface that can transcribe words that the user verbalises internally but

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Walmart Completes Due Diligence For Stake In Flipkart After Rival Offer From Amazon

Days after buzz of ecommerce behemoth Amazon raising an offer to acquire Flipkart, the reports have surfaced that Walmart has completed its due diligence process and has floated an offer propo

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Surprise! Amazon now sells more than 70 of its own private-label brands

After Amazon launched its first private-label brands in 2009, the company took a four-year hiatus before it created any more. And when it got back into the game with the launch of its own diap

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MakeMyTrip To Delist Treebo, FabHotels Following Agreement With OYO

Online travel company MakeMyTrip is in works to delist its budget-focused hotel aggregators, Treebo Hotels and FabHotels, following an agreement with homegrown hospitality major OYO. <d

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Who Is Amit Bhardwaj? The Real Story Behind $300 Mn Bitcoin Ponzi Schemes And More

Che Guevara to Osho, the parabolic curve of their successes was largely dependent upon manipulating people&rsquo;s mind, &ldquo;making the common man feel that he or she can tame the entire wo

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NITI Aayog To Develop National Data & Analytics Platform With Private Players

The NITI Aayog is planning to develop the National Data and Analytics Platform by collaborating with private tech players, as revealed by a top government official to ET. &nbsp;

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How Do SaaS Companies Like Zoho Retain Tech Employees?

&ldquo;Question: What&rsquo;s your take on the Indian tech startup ecosystem? Do you see a common problem in the ecosystem? Answer: There is an excessive worship of credentials

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In Light Of Facebook Privacy Breach, RBI Asks Payment System Operators To Store User Data Within India

After cracking down on cryptocurrency-related services, the RBI has now asked all payment system operators in the country to store data &ndash; pertaining to their customers &ndash; within Ind

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Kunal Shah Is Looking To Raise $30 Mn Capital For His New Venture

Months after Freecharge founder Kunal Shah caused Twitter waves with his plans for a new startup in 2018, reports have surfaced that he is now looking to raise nearly $30 Mn in Series A fundin

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Indian Cryptocurrency Users Launch An Online Petition Against RBI; Demand RBI To Reconsider

As the RBI hardens its stance and bans banks from dealing with cryptocurrency entities, many Bitcoin investors and exchanges have preferred to HODL (Hold Your Cryptocurrency) until more clarit

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Venture Capital Firm India Quotient Announces First Close Of Its Third Fund

Venture capital firm India Quotient has made the first close of its $50-$60 Mn new fund raising more than $30 Mn. &nbsp; The biggest investment came from a Gulf-b

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PayPal Digitises FIRC Payment Option To Shorten Payment Cycle For Indian Sellers And Freelancers

Making another move to solidify its presence in India, fintech giant PayPal has announced plans to digitise the FIRC application process for easing the cross-border inward payments troubles fo

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Amazon Business: Amazon India Enables Indian Sellers And Exporters To Sell B2B Globally

Opening the global market for Indian vendors, Amazon India has now launched its B2B selling programme allowing Indian sellers and exporters to sell their products and services abroad as well.<

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Employee Transportation Startup MoveInSync Raises $8 Mn In Series B Funding

Bengaluru-based employee transportation startup MoveInSync Technology Solutions has raised $8 Mn in Series B funding round led by Nexus Venture Partners. Existing investors including Inventus

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Amazon Eyes A Slice Of Online Gaming Pie; Partners With Nazara For Fire TV

Mumbai-headquartered mobile gaming startup Nazara Technologies has forged an alliance with Amazon to provide localised Indian gaming experience on Fire TV. With this, the company&rsquo;s offer

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With 45% Y-O-Y Growth In FY18, Here’s Where Zomato Is Earning Its Revenues From

As the Indian foodtech unicorn Zomato hit 5.5 Mn monthly food orders in March 2018, the FY18 results of the company are enough to set a benchmark here for rest of the industry. In a recent blo

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Paytm Mall Gains Unicorn Status: Raises $445 Mn Funding From SoftBank, Alibaba

The beginning of the new financial year could not have been better for Paytm. While the parent company Paytm has been busy revamping its app, it&rsquo;s ecommerce subsidiary Paytm Mall has sec

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BHIM UPI Transactions Cross 1 Bn Mark In FY 2017-18

Marking another milestone, UPI enabled app BHIM&nbsp; has recorded one billion transactions in FY 2017-18, crossing the value worth $15.36 Bn (INR 1 Tn). &nbsp; I

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Digital Payments Giant Paytm Revamps App, Makes It More Intuitive And User-Friendly

At a time when the country&rsquo;s digital payments space is undergoing major changes as a result of the RBI&rsquo;s stricter KYC mandates, homegrown unicorn Paytm has revamped its app to make

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Indian Tech Startup Funding Report Q1 2018: $1.17 Bn Invested Across 196 Deals

An overall glance at the Indian tech startup ecosystem will exhibit a much finer picture: 100th position in terms of ease of doing business; 37th position on the global startup ecosystem compa

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Here Is Fynd’s Pitch Deck That Made Google Invest In It

Farooq Adam, the co-founder of O2O fashion platform Fynd suggested this definition when he first published company&rsquo;s funding pitch deck in May 2016. &nbsp;

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IRCTC Looks To Join Digital Payments Bandwagon With Launch Of Payment Gateway ‘Ipay’

As the Indian digital payments touch $200 Bn mark, the segment has started gathering the attention of traditional players to test waters. As per reports, Indian Railways&rsquo; subsidiary IRCT

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While Paytm Clocked 5x Growth In Online Ticket Sale In FY17, BookMyShow Saw Its Losses Widen 138 Times

Mumbai-headquartered online ticketing platform BookMyShow reported a 27% jump in operational revenues to $46.2 Mn (INR 300.6 Cr) in FY17, from $36.2 Mn (INR 236 Cr) in the fiscal before that.<

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Google Leads Series C Funding In O2O Fashion Ecommerce Startup Fynd

Reaffirming its commitment to the Indian startup ecosystem, global search giant Google has led Series C funding in O2O fashion ecommerce platform, Fynd. &nbsp; Ot

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CDPQ Invests $20 Mn In Nandan Nilekani Led Growth Fund Fundamentum Partnership

Nandan Nilekani and Sanjeev Aggarwal owned Fundamentum has raised an initial investment of $20 Mn from CDPQ, a Canada-based institutional investor, for its first growth fund&nbsp; &ldquo;Funda

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Microsoft Ventures Plans A Come Back To India, Targets New Age Tech Startups

After a long absence, Microsoft is now planning to revive Microsoft Ventures in India. As per reports, the tech giant is looking to open an office and invest in Indian tech startups using new

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Indian Government Writes Letter To Facebook Seeking Details Of The Recent Data Breach

After the Election Commission of India announced that it will continue its partnership with Facebook for the upcoming Karnataka Assembly Polls, calling the recent fiasco a mere &ldquo;aberrati

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Flipkart Earmarks Millions Of Dollars For Online Grocery Business; Eyes Movie Ticketing Market

At a time when Amazon is doubling down to strengthen its food retail business in India with a pilot in Pune and 15 new fulfilment centres, homegrown ecommerce rival Flipkart is also evaluating

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Flipkart Set To Be An OTA Giant After Conquering Ecommerce, To Take On MakeMyTrip, Yatra

Mumbai based mid-market private equity firm SeaLink Capital Partners has announced the first close of its maiden fund at $315 Mn (INR 2,045.45 Cr), which is significantly higher than its initi

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After Raising $100 Mn, Swiggy Now In Talks With Coatue Management For Another $100 Mn

New York-headquartered technology hedge fund Coatue Management is reportedly holding discussions with a couple of other investors to pump $50 Mn-$100 Mn in homegrown online food delivery start

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Ola Might Acquire Uber India With SoftBank Playing The MatchMaker

While the cab hailing majors, Ola and Uber, are busy handling the strikes by their drivers on the frontend, Ola is in talks to acquire Uber&rsquo;s Indian operations. The deal will be facilita

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To Challenge Flipkart’s PhonePe, Amazon India To Continue Investments In Digital Payments Arm

Amidst increasing competition from PhonePe, owned by rival Flipkart, ecommerce giant Amazon India is reportedly doubling down to bolster its digital payments business. As stated by the newly-a

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Ministry Of Health Issues Draft For Healthcare Security Act; Warns Of Five Year Jail, $6,164 Fine On Healthcare Data Breach

In a silent yet tough stance towards data breach, the central government of India has released a draft of Healthcare Security Law under Digital Information in Healthcare Security Act (DISHA) a

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Fintech Startup Cash Suvidha Raises $1 Mn In Pre-Series A Funding

Delhi-based online lending platform Cash Suvidha has raised $1 Mn in a Pre-Series A funding round from Initia Holdings; Vipin Agarwal, Partner in India Industrial Growth Fund and others.

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On-Demand Driver Aggregator DriveU Raises $3 Mn In Pre-Series A Funding

Bengaluru-based on-demand driver aggregator DriveU has raised $3 Mn in Pre-Series A funding led by Singhal Foundation, an NGO working for education of underprivileged children.

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WhatsApp Inches Closer To Full UPI Compliance, Enables Scan QR Code Feature

Over a month after Paytm accused Facebook-owned WhatsApp of trying to enter the country&rsquo;s digital payments market through unfair means by flouting NPCI norms on UPI, it seems that the in

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Quona Capital Looking Forward To Raise $150-200 Mn Fund III With Anchor Investor Accion And Others

Quona Capital, the Washington-based fintech impact investor, which has been making investments in Indian companies from its Fund II worth $142 Mn is now en route to raising its Fund III.

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Amazon India Closes In On Flipkart’s Dominance In Ecommerce Market: Forrester Report

In a report titled &lsquo;Online Retail Forecast (2017-2022) Asia Pacific&rsquo;, Forrester Research has found that Amazon India is now behind Flipkart by only 1% in GMV market share for 2017,

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Emerald Media Invests $80 Mn In Sports Tech Company GSC

Private equity firm KKR-backed investment platform, Emerald Media, has led $80 Mn in Singapore and Chennai-based sports tech company GSC (Global Sports Commerce) through a combination of prima

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Flipkart Burnt Through Nearly Half Of $6.1 Bn It Raised From Investors In The Last 10 Years

Homegrown ecommerce giant Flipkart has burnt through nearly half of the $6.1 Bn funding it raised from investors over the last decade, since it started operations in 2007. The company&rsquo;s

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Music Streaming Giants Jio Music And Saavn Integrating Services With A Combined Value Of $1 Bn

Less than a month after the global giant, Amazon, entered the Indian music streaming space with Amazon Prime Music, two Indian music streaming majors &ndash; Reliance Jio Music and Saavn &ndas

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Six Months After Raising $250 Mn Led By SoftBank, Hotel Aggregator OYO Is On The Hunt For Another $800 Mn

Gurugram-headquartered hotel aggregator OYO is reportedly in talks to raise $500 Mn-$800 Mn in funding. The development comes more than six months after the company secured $10 Mn from Chinese

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Micro-Jobs Providing Startup GigIndia Raises Seed Funding From Angel Investors

Pune-headquartered GigIndia, which provides micro-jobs to students has raised an undisclosed amount of Seed funding from a consortium of angel investors. The list includes Jessica Wong, Foundi

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Flipkart Revamps Logistics Network, Plans To Open Logistics Centre In Kolkata

After revealing the plans of setting up a state-of-the-art logistics centre in Bengaluru, Flipkart has now announced to open an 80 acres logistics centre in Kolkata to cater to its East and No

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With $18 Mn Funding Led By Insight Venture, Chargebee Aims To Break-Even Profitability Soon

Chennai-based subscription management and recurring billing solutions startup Chargebee has raised $18 Mn growth capital from New York-based Insight Venture Partners. &nbsp;</di

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As Flipkart Deal Intensifies, Walmart Eyes Higher Investments In India, Hiring Top Talent

As the talks about Walmart taking up major stake in Flipkart intensify, Walmart is looking to double its investments in India while hiring top technology talent and investing or acquiring Indi

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Customer Engagement Company ZineOne Raises $2.5 Mn Funding From Omidyar Network

Silicon Valley-headquartered customer engagement company ZineOne has raised $2.5 Mn in Series A round of funding led by Omidyar Network. The company currently has an office in India. <d

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Digital Payments Giant Paytm Records $20 Bn GTV Run Rate, Up From $5 Bn In March 2017

Homegrown digital payments giant Paytm has recorded a four-fold jump in its annualised gross transaction value (GTV) to $20 Bn (INR 1.3 Lakh Cr), up from $5 Bn in March 2017. &n

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In Light Of Recent Facebook Breach, Privacy Advocates Demand Stronger Data Laws In India

After news of one of Facebook&rsquo;s biggest data breaches perpetrated by British big data analytics startup Cambridge Analytica surfaced earlier this week, privacy advocates in India are now

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Micromax Invests In AI Based Startup One Labs To Imbibe Its Product InOne

Accelerating its journey towards creating a holistic service ecosystem, Micromax Informatics, the world&rsquo;s 10th largest handset maker, today announced its investment in a consumer technol

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Ecommerce Giant Flipkart Asks Sellers To Bear 60% Of Discounts

Bringing a change in its discounting model, homegrown ecommerce player Flipkart has asked its sellers to deal with 60% of the discounts during sale events. &nbsp;

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VC Firm Sequoia Capital To Slash Sixth India Fund Size By 25% To $600 Mn-$700 Mn

US-headquartered VC firm Sequoia Capital is reportedly slashing the size of its new India fund by 25%. This comes at a time when investors are taking a guarded approach towards the country&rsq

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Swiggy Rolls Out UPI Driven Digital Payment Solutions For Its Delivery Partners

Homegrown food delivery company Swiggy has partnered with ICICI Bank to roll out two convenient and hassle-free digital payments solutions for its delivery partners. &nbsp;</div

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After Google And Facebook, Twitter May Also Ban Cryptocurrency-Related Ads

After Facebook and Google, leading microblogging platform, Twitter, is now considering to ban Bitcoin and cryptocurrency-related ads. &nbsp; Twitter&rsquo;s new a

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Homegrown Hotel Aggregator OYO Acquires Chennai-Based Novascotia Boutique Homes

Gurugram-headquartered hotel aggregator OYO has announced the acquisition of&nbsp; Chennai-based service apartment operator Novascotia Boutique Homes. This comes days after OYO announced its a

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Ecommerce Behemoth Amazon India Modifies Seller Fees To Engage More Sellers

In an attempt to encourage sellers to engage more with its marketplace, Amazon India has reportedly altered its seller fees in various segments. The changes will be applicable from April 19.</

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Foodtech Startup Fingerlix Raises $1.31 Mn Venture Debt From Alteria Capital

Ready to cook foodtech startup Fingerlix has raised $1.31 Mn (INR 8.5 Cr) of venture debt from the maiden venture debt fund launched by Alteria Capital this month. &nbsp;

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Music Streaming Giant Spotify To Focus On Indian Market, Says CEO Daniel Ek

Sweden-headquartered music streaming giant Spotify is in the process of launching operations in India, co-founder and CEO Daniel Ek announced recently during the company&rsquo;s investor day p

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Cab Leasing Arm Of Uber, Xchange Leasing India, Posts $10.7 Mn Revenue For FY17

The Mumbai-based cab leasing arm of Uber, Xchange Leasing India Pvt. Ltd, reported a revenue of $10.7 Mn (INR 69.7 Cr) for FY17. &nbsp; According to the filings w

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SoftBank Leads $62 Mn Funding Round In Online Grocery Startup Grofers

Online grocery delivery startup Grofers has raised $61.6 Mn (INR 400 Cr) in a round of funding led by SoftBank. With this, the Japanese investment behemoth now holds a 35%-40% stake in the Gur

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With Over 200 Instant Apps For Consumers, AppBrowzer Will Now Help Local Businesses To Create Express Apps In 10 Minutes

There is no doubt that this is the time for a booming app economy. While hordes of apps which are populating the Play Store and iOS store enable the users to do everything &ndash;&nbsp; from o

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Fractal Analytics Acquires Behavioural Architecture Company Final Mile

Mumbai-headquartered data analytics company Fractal Analytics has acquired behavioural architecture company Final Mile. &nbsp; On the acquisition, Srikanth Velama

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Google Maps Introduces Voice Navigation In 6 Additional Indian Languages, Plus Codes For Addresses

To outplay the latest aerial, indoor and 3D mapping innovations by HERE Maps and other competitors like TomTom and Bing &ndash; the undisputed leader of mapping solutions, Google Maps, has lau

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Paytm Launches Wealth Management Products Gold Gifting And Gold Savings Plan

Digital payments player Paytm has announced the launch of two new services &ndash; Gold Gifting and Gold Savings Plan as a part of its wealth management offering Paytm Gold. Through these serv

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Parenting Social Network Startup BabyOnBoard Gets Acquired By RoundGlass Partners

In a fresh turn of events, Seattle-based investor RoundGlass Partners has acquired parenting memories and milestone platform BabyOnBoard for an undisclosed amount. With this development, the s

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Venture Capital Firm Kalaari Capital Looks To Sell Stake In Snapdeal

Venture capital firm Kalaari Capital, which was one of the early investors in Snapdeal, is looking to sell its stake in the ecommerce firm, as per two sources in the know. &nbsp

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Fearless Mobycy Strides Ahead With Dockless Bike Sharing App To Contend With Ofo And Ola

Bicycles have always been a part of the socio-economic culture of India. The arrival of the British in India brought bicycles to the country. Sometime down the line, it started representing th

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California Based Wibmo Acquires Payments Tech Startup Mypoolin

California-based payments solution company, Wibmo, has acquired Bengaluru-based payment technology startup Mypoolin in an undisclosed amount. The deal is said to be done in part cash and part

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HDFC Bank Bars People Trading Bitcoin And Other Cryptocurrencies With Its Cards

After SBI Bank issued a warning against using SBI credit cards for trading cryptocurrencies, one of the leading private banks of India, HDFC Bank has stated that its credit, debit and prepaid

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Matrix Partners India Led $17.2 Mn Funding Round In Online Lending Startup Avail Finance

Bengaluru-based online lending platform Avail Finance has raised $17.2 Mn in a Series A funding round led by Matrix Partners. The round is a mix of debt and equity. &nbsp;

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Google To Ban Bitcoin And Cryptocurrency-Related Ads Including ICOs

After Facebook announced to ban cryptocurrency related ads earlier this year, it&rsquo;s the search engine giant Google, which is set to ban all cryptocurrency-related ads including ICOs.</div

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Ecommerce Behemoth Flipkart To Bolster ‘Relatable Indian Brands’

As PM Narendra Modi has shifted the campaign from &lsquo;Positive India&rsquo; to &lsquo;Progressive India&rsquo;, ecommerce behemoth Flipkart is also set to unveil a new brand called &lsquo;N

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Paytm App Stops Asking For Root Access On Android Phones

Last week, Paytm app asking for root access on Android phones had raised major concerns. Now after being flagged by a French security researcher, the digital payments player has fixed the sens

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Foodpanda Announces Launch Of State-Of-The-Art Technology Centre In Bengaluru

Food delivery platform, Foodpanda has announced the launch of its technology centre in Bengaluru. The state-of-the-art technology centre will be operational in next few weeks. &

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Digital Retail Payments Platform Pine Labs Raises $82 Mn Led By Actis

New Delhi-based digital retail payments platform Pine Labs has raised a funding round of $82 Mn led by Actis Capital and joined by new investor Altimeter Capital. &nbsp;

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OYO Moves On From ZO Rooms Battle, Plans Acquisitions In India And Outside

Fighting off &ldquo;once burnt, twice save&rdquo;, OYO rooms is back in the game. Moving on from a fierce court battle with ZO rooms, the company is looking for some new acquisitions in the sp

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HealthTech Startup HealthAssure Raises $1 Mn In Funding From The HR Fund

Following in the footsteps of ecommerce and fintech startups, healthtech is another sector where the Indian tech startups have been successful in attracting huge investments. After Healthifyme

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Amazon Prime To Up Its Game In The Indian Video Battle, Looking To Add More Regional Content

The Indian video battle is getting intense. In order to up its game amidst players like Netflix, Hotstar, Voot in the $280 Bn video streaming market, Amazon Prime Video is reportedly looking t

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Innov8 Coworking Goes Big With DLF, Brings In A 500 Seater World-Class Center In Cyber Hub Gurugram

Y Combinator-backed coworking space, Innov8, has launched its seventh centre in Gurugram. The fully-managed office space located at Tower 8B, DLF Cyber Hub, Haryana, has the capacity to house

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Online Fashion Retailer Koovs To Raise Another $32 Mn Funding Round Soon

Koovs plc, a Delhi- and UK-based online fashion etailer is looking to raise another $32 Mn in an upcoming funding round. &nbsp; &ldquo;We will need up to $69.3 Mn

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7 Myths About Accelerator Programs In India: Insights From Our Journey At Axilor

Running the largest accelerator program in the country, we get not only hundreds of startup applications but equally high number of questions from founders. The questions make three things cle

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Estonia Announces E-Residency Programme To Support Indian Startups

As a warm welcome for Indian startups to the European Union (EU),Estonia has introduced its E-Residency programme for Indian startups to work in the country without any hassle.

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Cryptocurrency This Week: Goldman Sachs Sends Notice To Bitcoin Exchange Bitman Sachs For Trademark Violation And More

The crypto community is getting bigger by the day despite the mixed reactions from corporate and regulatory authorities, as Bitcoin has got fans sharing a stronger covalent bond than that of &

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Paytm, Alibaba And Tencent Strive For A Slice Of India’s Booming Gaming Industry

With Paytm recently launching a mobile gaming platform Gamepind, as part of its joint venture with Alibaba-owned AGTech Media, it is now Chinese Internet conglomerate Tencent that is looking f

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Techstars To Launch Its Startup Accelerator Programme In India; Looks To Set Up An India Focussed Fund

US-based Seed accelerator and incubator Techstars will launch its new startup accelerator programme in India next month. To this end, the company has hired Bala Girisaballa, former Managing Di

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PhonePe Hits Out At Paytm, Says Paytm’s Claims Of Being Largest Player On UPI Are Misleading

Things have not been quiet in the first two months of this year for the digital payments space in India.&nbsp; If a few days ago it was Paytm lashing out at WhatsApp for unfair play, now Flipk

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Women In India Less Inclined To Entrepreneurship Due To Cultural Bias, Says Report

A study by Mastercard Index of Women Entrepreneurs (MIWE) has ranked India 52nd out of 57 countries judged on the basis of parity for women entrepreneurs. The report highlighted that the main

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OLX Witnesses Major Growth In Pre Owned Cars Segment; Claims 77% Market Share

OLX, an online classifieds marketplace for auto, real estate and goods and services, registered a 50% growth in the number of buyers in the pre-owned cars category last year. During the said p

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Flipkart Plans 4.5 Mn Sq Ft State-Of-The-Art Logistics Park In Bengaluru

Indian ecommerce giant Flipkart is planning to set up a 4.5 Mn square feet state-of-the-art logistics park in Bengaluru. &nbsp; The company claimed, in a statemen

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Airbus Teams Up Two Indian Startups Accelerated Under Airbus BizLab

In an attempt to support the government&rsquo;s Make In India and Startup India initiatives, France-headquartered aeronautical products maker Airbus has signed contracts with two Indian startu

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Low Cost Mobile Phone Maker BRITZO Sets Up Operations In India; Makes $15.3 Mn Make In India Commitment

Driven by the aim of digitising rural India, communications company BRITZO has launched its operations in the country, with a $15.3 Mn (INR 100 Cr) commitment towards the &lsquo;Make in India&

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After WhatsApp Refuses To Cooperate, SEBI Asks Tata Motors To Conduct Internal Inquiry Into Earnings Leak

After WhatsApp refused to share user data with Securities and Exchange Board of India (SEBI) on grounds of privacy, the market regulator has asked Tata Motors to conduct an investigation into

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Mobile Movie Theatre PictureTime Raises $3.85 Mn In Pre Series A Funding

Mobile movie theatre PictureTime has raised $3.85 Mn (INR 25 Cr) in a Pre Series A funding round from a group of high net-worth individuals (HNIs). The round of funding was led by Ajay Relan,

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How Self Drive Car Rental Startup Zoomcar Turned EBITDA Positive

Bengaluru-headquartered self-drive car rental startup Zoomcar has turned EBITDA positive, the company claimed in a recent statement. The financial milestone, which was achieved in December 201

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Furniture And Home Marketplace Pepperfry Rakes In $38.5 Mn Funding From State Street Global Advisors

Mumbai-based furniture and home marketplace Pepperfry has raised about $38.5 Mn (INR 250 Cr) in its fifth round of funding from State Street Global Advisors, the asset management business of S

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Kotak Mahindra Bank Partners With NASSCOM To Launch Collaborative Platform For Startups

Mumbai-headquartered Kotak Mahindra Bank, in association with NASSCOM, has launched a new collaborative platform for startups, with a special focus on fintech startups. Dubbed as the Kotak Pay

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After Flipkart, SoftBank Eyes Stake In Paytm Mall At $2 Bn Valuation

The recently released Inc42 DataLabs Funding Report 2017 quoted the last year as the &lsquo;era of SoftBank India invasion&rsquo;. With empires like Flipkart, Ola, OYO, Swiggy, Paytm under its

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Myntra Designs Receives $63.7 Mn Capital From Singapore Based FK Myntra Holdings

Ecommerce fashion marketplace Myntra Designs has received a capital infusion of $63.68 Mn (INR 414 Cr) from Flipkart&rsquo;s Singapore-based subsidiary FK Myntra Holdings. &nbsp

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Indian Government Constitutes Special Committee For The Fintech Sector

The central government has announced that it has set up a special committee to look into the growth and development of the Indian fintech sector. The panel, led by the Department of Economic A

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Ecommerce Giant Amazon Fuels Digital Payments Arm Amazon Pay With $30 Mn Funding

Amazon Pay, the digital payments arm of ecommerce giant Amazon, has reportedly raised $30 Mn (INR 195 Cr) from its parent entity. The development comes just over five months after Amazon Pay I

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Ride Hailing Firm Ola In Talks With Temasek To Raise Upto $1 Bn In Funding

Ride hailing firm Ola is in talks with Singapore&rsquo;s sovereign wealth fund Temasek and other investors to raise another $500 Mn to $1 Bn in funding, according to people familiar with the d

Read More

With Amazon Strengthening Its Grocery Delivery Army, BigBasket Makes Offline Foray With Kiosks

Online grocery delivery startup BigBasket is reportedly looking to tap the offline market through kiosks that will stock fruits, vegetables, FMCG goods and other daily grocery items. The devel

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MEMG, Beenext Lead $2.1 Mn Seed Funding For Digital Therapeutics Startup Wellthy Therapeutics

Mumbai-based digital therapeutics healthtech, Wellthy Therapeutics, has raised $2.1 Mn in Seed funding from Dr. Ranjan Pai&rsquo;s family office MEMG (Manipal Education and Medical Group), alo

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HDFC Group Invests $10 Mn In MedGenome To Complete Its $40 Mn Series C Funding Round

Bengaluru-based genomics research and diagnostics company MedGenome has secured an additional $10 Mn funding from HDFC Ltd., HDFC Life and HDFC Asset Management to complete its Series C round

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Ninjacart Raises $1 Mn In Venture Debt Funding From Trifecta Capital

Bengaluru-based B2B agri-marketing platform Ninjacart has raised around $1 Mn (INR 7 Cr) in venture debt funding round from Trifecta Capital. &nbsp; Owned and ope

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PE Firm Turn/River Capital Acquires SaaS Based HR Tech Platform Recruiterbox

SaaS based HR tech platform Recruiterbox has been acquired by San Francisco based private equity firm Turn/River Capital in an undisclosed all cash deal (no stock or earn-outs).

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News Roundup: 10 Indian Startup News Stories That You Don’t Want To Miss This Week [26 Feb-03 Mar 2018]

We bring to you the latest dope of Indian startup news stories of the week from the Indian startup ecosystem. &nbsp; One of the biggest news impacting the Indian

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Movers And Shakers Of The Week [26 Feb-03 March 2018]

We bring to you the weekly dope of important movers and shakers from the Indian startup ecosystem. Zomato Cofounder Pankaj Chaddah Resigns Zomato, company&rsquo;s

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Funding Galore: Indian Startup Funding Of The Week [26 Feb-03 March 2018]

We bring to you the latest edition Funding Galore: Indian Startup Funding of the week. &nbsp; This week 18 Indian startups raised about $394 Mn in funding altoget

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Behind Indigram Labs’ Push Towards Nurturing Startups In Agri, Health And Renewable Energy

India is today the third largest startup base in the world as per a NASSCOM report. As per the Inc42 Indian Tech Startup Funding report, India sees two startups funded on an average every day.

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Myntra Jabong Pvt. Ltd. Gets $176 Mn Boost From Flipkart

Indian ecommerce giant, Flipkart has infused $176 Mn in its fashion arm Myntra Jabong Private Limited. Per se reports, the fund infusion was done in February this year and the funding was rout

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Google Tez Announces SBI Integration, To Enable 'Tap And Pay' Option Soon

Google-owned UPI-based digital payments app, Tez, will now integrate with SBI (State Bank of India) and let users create an SBI Unified Payments Interface (UPI) id- @oksbi. As part of the part

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Home Rental Startup NestAway Confirms $51 Mn Fundraise From Goldman Sachs, UC-RNT Fund

Home rental startup NestAway has announced a $51 Mn fundraise from Goldman Sachs, UC-RNT Fund and the University of California. &nbsp; As part of the deal, Goldma

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Exclusive: Y Combinator Backed Online Lending Platform Credy Rakes In $1.4 Mn Funding

Online lending platform Credy which facilitates small-ticket, online personal loans and school fee financing loans has raised $1.4 Mn in Seed funding from prominent investors including Y Combi

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UClean Enters Into Home Cleaning Sector, Launches Mint Clean With $1 Mn Funding

Faridabad-based integrated laundry services providing startup UClean has forayed into the home cleaning segment with its new subsidiary Mint Clean. Mint Clean will operate as an on-demand dire

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Amazon Opens 15 Fulfilment Centres To Boost Its Hyperlocal Grocery Delivery Business, Amazon Now

In a bid to strengthen its foothold in India, Amazon has opened 15 fulfilment centres to create a specialised network for its hyperlocal grocery delivery business on Amazon Now.

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Ola Partners With Northern Railways To Offer Last Mile Connectivity

Ola has partnered with the Delhi division of Northern Railways to launch dedicated Ola kiosks at five key railway stations in the national capital. The initiative aims to facilitate last mile

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Reliance Jio Partners With Samsung To Expand IoT Network In India

Reliance Jio, the telecom major led by Mukesh Ambani, has partnered with Samsung Electronics to set up a nationwide IoT (Internet of Things) network. &nbsp; Accor

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Airtel Partners With Google To Bring Low Cost Smartphones Powered By Android Go To India

India&rsquo;s largest telecommunications services provider Airtel&nbsp; has entered into a partnership with Google to bring low cost smartphones powered by Google&rsquo;s Android Oreo (Go edit

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Startup Events To Attend This Week: NSE Tech Conclave, IESA Vision Summit And More

This is Inc42&rsquo;s latest edition of what startup events are coming up in the next week. &nbsp; Canadian Prime Minister Justin Trudeau&rsquo;s India trip is ov

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GST: Ecommerce Players May Not Require E-Way Bill In Small Orders

Amid a continuous delay in the implementation of e-way bill system due to &ldquo;technical reasons&rdquo;, a group of state finance ministers have now decided to start the inter-state movement

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Netflix Sees A Potential Of Adding The Next 100 Mn Customers From India: Reed Hastings, CEO Netflix

&ldquo;Even we could not predict the last two years of Internet growth in India. It is the most phenomenal example of anywhere in the world in terms of lower data cost, more people coming onli

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Apollo Hospitals Signs MoU With IBM To Launch $50 Mn-$100 Mn Fund For Healthtech Startups

In a bid to help healthcare startups grow and scale up, Apollo Hospitals has signed a Memorandum of Understanding (MoU) with IBM to fund startups. &nbsp; Accordin

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OYO-ZO Rooms' Battle: Court Rejects ZO Rooms' Petition On Grounds Of Jurisdiction

The OYO-ZO Rooms&rsquo; battle is now getting fiercer and the ball is steadily moving towards OYO&rsquo;s court. Reportedly, a Gurugram-based district court has rejected an arbitration petitio

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Cryptocurrency This Week: The $20 Tn Bitcoin Blunder In Japan; SBI’s Shilly-Shally Moments And More

While Satoshi Nakamoto made the world transition to a whole new P2P electronic payment system with Bitcoin, the Dogecoin, which was started as a joke has gone on to add $2 Bn market cap, there

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Online Fashion Marketplace Myntra Might Acquire Minority Stake In Sportsgear Company Wildcraft

Online fashion marketplace Myntra is reportedly planning to acquire a 5% minority stake in Bengaluru-based outdoor gear and sports apparel company Wildcraft. &nbsp;

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Alibaba In Talks To Acquire Minority Stake In News App Dailyhunt

Chinese conglomerate Alibaba is reportedly planning to acquire a minority stake in Dailyhunt, a news and e-books app. &nbsp; A report quoting people familiar with

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Paytm To Launch Paytm Score To Give Its Users Credit Rating Based On Digital Transactions

In line with Indian banks&rsquo; credit scoring instrument, CIBIL Score Paytm is now introducing its own credit scoring product Paytm Score. Unlike CIBIL Score, which takes into consideration

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Aditya Birla Group’s Payments Bank Commences Operation

Aditya Birla Group&rsquo;s payments bank, known as Aditya Birla Idea Payments Bank has commenced operations with effect from February 22, 2018. The bank has joined the bandwagon of payments ba

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Paytm Bullish About Insurance Sector, Incorporates Two Companies

Unstoppable. Started as a digital payments startup, Paytm in the last two years has forayed into multiple segments integrating multiple platforms in the process. Backed by two major global con

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Swiggy Introduces Swiggy Scheduled To Bolster Its Food Delivery Service

In its endeavour to bolster its online food delivery service against rival Zomato, Swiggy has introduced a new service, Swiggy Scheduled. &nbsp; The development c

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Supply Chain Startup FourKites Raises $35 Mn In Series B Led By August Capital

Predictive supply chain platform FourKites has raised $35 Mn in Series B funding led by August Capital. The round also saw the participation of existing investors Bain Capital Ventures and Hyd

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Bessemer Eyes Healthtech And Fintech Startups, To Invest $50 Mn In India In 2018

Silicon Valley-based VC Bessemer Venture Partners is planning to invest $40- $50 Mn in 2018 while broadening its existing portfolio of startups in India. Reportedly, the company is looking at

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Uber CEO Dara Khosrowshahi Respects Ola And Considers It To Be A Strong Competitor

Uber CEO Dara Khosrowshahi is currently on his maiden visit to India, since joining the ride-hailing company in August last year. As part of the two-day visit on February 22-23, Khosrowshahi w

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Fintech Startup HighRadius Secures Funding From PNC, Citi Ventures

AI-based fintech company HighRadius, which provides cloud-based integrated receivables software, has raised an undisclosed amount in a strategic funding round led by Citi Ventures and PNC.</di

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Hyperlocal Delivery Startup Grab Raises $1.3 Mn From SIDBI's Venture Capital Arm

Mumbai-based hyperlocal delivery startup Grab has raised $1.3 Mn (INR 9 Cr) funding from SIDBI Venture Capital Arm, the Maharashtra State Social Venture Fund. &nbsp; <div

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Amazon India Inks Deal With T-Series To Strengthen Amazon Prime Catalogue

Gradually building the Amazon Prime content stack, prior to its launch in India, Amazon India has inked a deal with Indian music label T-Series to further strengthen the Prime Music catalogue.

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With $20 Mn Funding From Warburg, Sequoia, Capillary Technologies To Deepen Its CRM Footprint In Asia

Capillary Technologies, a leading cloud-based omnichannel engagement commerce solution company that enables retailers to intelligently engage with their customers, announced that it has raised

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Online Grocery Startup Grofers In Talks To Raise $65 Mn Funding At 40% Lower Valuation

Gurugram-based online grocery delivery startup Grofers is said to be in talks to raise $60-65 Mn in funding from its existing group of investors at a nearly 40% drop in its valuation. <

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To Solve Bengaluru's Traffic Problems, BMRCL Teams Up With Metro Bikes To Offer Bike Rentals

In a bid to address last mile connectivity issues in Bengaluru, Bengaluru Metro Rail Corporation Ltd. (BMRCL) and Metro Bikes, a smart mobility solutions startup, have tied up to provide bike

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Ankur Capital Leads $500K Seed Funding Round In Agritech Startup Agricx Lab

Maharashtra-headquartered Agricx Lab, an agritech startup that uses smartphone imaging to assess the quality of agricultural produce, has raised Seed funding to the tune of $500K led by India-

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Teleco Operated Payments Banks Need To Do KYC Verification Independently: RBI

In light of the UIDAI&rsquo;s temporary ban on Airtel and Airtel Payments Bank for flouting Aadhaar norms, the Reserve Bank of India (RBI) has instructed payments banks to complete the custome

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Amrita TBI Incubator Selects Three Startups As Winners Of PitchFest 2018

Amrita Technology Business Incubator (TBI) will provide Seed investment of $200K to the three winning startups of PitchFest 2018: Yellow Messenger, Linksmart DNA, and Book My Diamond. <

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Cryptocurrency: SBI Cautions Its Credit Card Users Against Bitcoin Trading

As the Union Cabinet has green signalled the bill banning unregulated deposit schemes in India, India&rsquo;s largest public sector bank State Bank of India (SBI) has issued a cautionary and a

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Google Owned Digital Payments App Tez Now Allows Utility Bill Payments

To bolster the offerings of its UPI-enabled digital payments app Tez, Google India today announced the launch of a new feature that is designed to help users pay their bills within seconds wit

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Mahindra Group Takes Leap Of Faith On EVs, Announces $139 Mn Investment

Amid lack of clarity on electric vehicles (EV) policy, Mahindra Group has announced a $139 Mn investment in EVs over the next four years. &nbsp; The company plans

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How HealthTech Startup HappyDNA Looks To Tap The Preventive Healthcare Space For Kids

In October 2017, the Indian Union government in its National Health Policy (NHP) draft indicated the concerns around the increasing burden of NCDs (non-communicable diseases) in the country. T

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Minister Jitendra Singh Invites Young Startups To Explore Northeast For Their Ventures

In a bid to attract entrepreneurs to the Northeastern part of India, Minister for Development of North-Eastern Region (DoNER) Jitendra Singh has invited young startups from pan-India to come t

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Electric Vehicle Makers In India Reach Out To NITI Aayog For Clarity On EV Policy

A plan has been materialised by lobby group Society of Manufacturers of Electric Vehicles (SMEV) to meet top government officials such as Amitabh Kant of NITI Aayog to seek clarity on the gove

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Amazon Becomes First Foreign Venture To Foray Into Indian Food Retail, Starts Pilot In Pune

Beating its global rival Walmart, Amazon has finally claimed the status of becoming the first foreign company to start with its food retail venture in India. Reportedly, it will now be availab

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Microsoft To Deck Up Its Startup Programme With $500 Mn Commitment

Microsoft has announced &lsquo;Microsoft for Startups&rsquo;, a programme aimed at supporting the startups, and is reportedly committing $500 Mn over the next two years to offer joint sales en

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Online Lending Startup Aye Finance Bags $3.8 Mn From Hinduja Leyland Finance And IntelleGrow

Gurugram-headquartered online lending startup Aye Finance has raised $3.8 Mn (INR 25 Cr) from three investors, including Hinduja Leyland Finance and IntelleGrow, which provides debt finance to

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Cryptocurrency This Week: Central User Database, Drivezy ICO, Bitcoin Laundering, And More

The Dark Knight Rises. Bitcoin is back to $10K+ mark. Interestingly and expectedly so, while the glass of cryptocurrency remains half filled for some, while, half empty for others. <div

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Walmart May Buy More Than 40% Stake In Ecommerce Giant Flipkart

US-headquartered retail giant Walmart is looking to acquire more than 40% stake in Indian ecommerce giant Flipkart, as per two sources close to the matter. &nbsp;

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Funding Galore: Indian Startup Funding Of The Week [12-17 Feb 2018]

We bring to you the latest edition Funding Galore: Indian Startup Funding of the week. &nbsp; This week 14 Indian startups raised about 190 Mn in funding altogeth

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Digital Spending Expected To Grow To $100 Bn By 2020: Google-BCG Report

The digital spending by consumers is expected to grow nearly 2.5 times to $100 Bn by 2020, according to Google-BCG report. &nbsp; Ecommerce products like apparel,

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40% Of Indians Prefer To Watch Video Ads On Mobile Phones

The share of people watching video ads on mobile phones as compared to other mediums is growing rapidly in the Indian adtech market, claimed a survey conducted by a data analytics company, MoM

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PhonePe Takes Another Step Towards Its Mission To Deploy 50 Mn POS Devices

Going ahead on its strategy of deploying its own point-of-sales (PoS) payment terminals, PhonePe has now joined hands with Indian Oil Corporation Ltd. a.k.a IOCL. &nbsp;

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Mahindra Led $40 Mn Series C Funding Round In Zoomcar

Bengaluru-based Zoomcar has closed $40Mn in a Series C funding round led by Mahindra &amp; Mahindra. The round also saw participation from the other existing investors of the self-drive mobili

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Amazon Echo To Make Synchronised Smart Homes Across 20 Cities In India

Online store, Amazon, has announced the availability of Echo Dot, Echo, and Echo Plus for purchase in India. The Echo devices can be purchased from over 350 retail outlets such as Croma, Relia

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Home Rental Solution Provider ZiffyHomes Acquires FellaHomes

New Delhi-based home rental marketplace ZiffyHomes has acquired FellaHomes for an all-cash plus equity deal. &nbsp; With the acquisition, Ziffy plans to consolida

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Quikr Unveils O2O Platform QuikrRealty To Disrupt Real Estate Brokerage Industry

As Louis Glickman says, the best investment on earth is &lsquo;Earth.&rsquo; The real estate business in India is expected to touch $180 Bn by 2020. Of this, a major part is brokerage industry

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Ecommerce Firm Infibeam On A Fast Growth Track; Reports 108% Jump In Revenue To $33.4 Mn In Q3 FY18

Ahmedabad-headquartered ecommerce major Infibeam has reported a 108% YoY growth in revenue to $33.4 Mn (INR 2,135) Mn in Q3 FY18. As per its recent BSE filings, the company&rsquo;s profit afte

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Digital Payments To Evolve Into A $1 Tn Behemoth In India By 2023: Credit Suisse

India&rsquo;s digital payments industry, which is currently worth around $200 Bn, is expected to grow five-fold to reach $1 Tn by 2023, a report by Swiss financial services holding company Cre

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Public sector banks report Rs 19,000 crore loss

The quarter ended December 2017 has turned out to be one of the worst periods for state-owned banks as majority of them had reported a steep loss due to higher provisions against bad loans and

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Following In Alibaba's Footsteps, Paytm Mall Launches A New Model Of Retail

Paytm Mall, the ecommerce arm of digital payments giant Paytm, has launched a new model of retail, wherein customers can walk into brick and mortar stores, scan product QR codes, browse inform

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Amazon India To Launch Multiple Private Label Brands Across Different Categories In 2018

With competition in the country&rsquo;s ecommerce space reaching a fever pitch, Amazon India is reportedly looking to expand its private label business, as a way of boosting its revenue growth

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Agritech Focussed VC Firm Omnivore Partners Makes First Close Of Second Fund At $46 Mn

Agritech focussed venture capital firm Omnivore Partners has announced the first close of its second fund at $46 Mn. As per reports, the amount was raised from a clutch of investors, including

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The 12 Amazing Indian Startups Inc42 Discovered During BIGShift

This was the ethos that kick-started BIGShift, a joint programme by Inc42 and Amazon India for Indian startups that strove to connect the startup ecosystem by hosting localised meetups in eigh

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Tata Group In Talks To Buy Out Health Beverage Paper Boat

After shutting down its loss-making entities in China, and Russia as part of the business restructuring exercise, Tata Group has now get back to strengthening its core businesses.

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Ola Parent To Pump $62.2 Mn In Newly Acquired Food Delivery Platform Foodpanda India

Ola parent ANI Technologies is reportedly planning to invest $62.2 Mn (INR 400 Cr) in newly-acquired online food delivery platform Foodpanda India. The capital infusion, which will take place

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SME Lending Startup Lendingkart Raises Over $87 Mn In Equity Funding

Post raising $4.7 Mn funding round in January 2018, Ahmedabad-based SME lending platform Lendingkart has secured over $87 Mn in an equity funding round as part of its Series C round. <d

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Chamath Palihapitiya Led Social Capital Backs Indian SaaS Startup WebEngage Through Its CaaS Platform

SaaS startup WebEngage, which provides a marketing automation platform, has raised an undisclosed amount of funding from Social Capital, the Palo Alto-based VC firm led by Chamath Palihapitiya

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Electric Vehicles This Week: Tata Motors Showcases 6 EVs At Auto Expo; Budget Allocates $40.5 Mn To EVs

This week, the EV fever in India reached a new peak as a result of the Auto Expo 2018, which is a biennial automotive show currently being held in Greater Noida. Day 1 of the event saw several

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Software Company Icertis Raises $50 Mn Funding From Meritech, Others

The software company Icertis has today announced its $50 Mn Series D funding round from Meritech Capital Partners with additional investments by PSP Growth and Cross Creek Advisors. <di

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CCI Imposes $21 Mn Penalty On Google For ‘Search Bias’

The Competition Commission of India a.k.a CCI has imposed a penalty of $21.13 Mn (INR 136 Cr) on Google for conducting unfair business practices in India for online search. &nbs

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WhatsApp Starts Testing Of UPI Based Payments Feature In India

WhatsApp has reportedly started testing its UPI-based payments feature in India. The new feature, which is available for select WhatsApp beta users on iOS and Android, enables them to send and

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Swiggy Gets $100 Mn In Series F Funding From Naspers And Meituan-Dianping

Amidst merger talks with Zomato, online food ordering and delivery platform Swiggy has raised $100 Mn in Series F funding round led by Naspers. With this round Swiggy also on board the new inv

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Amazon Prime Gets More Eyeballs Than Netflix In India

Competing with around 30 OTT (over-the-top) original online video and entertainment distribution platforms including Amazon Prime and Hotstar, the world&rsquo;s largest online tv network Netfl

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Myntra Undergoes Restructure Exercise: Jabong CBO Resigns, 400 Employees Get Demoted

As part of a massive restructuring exercise, 400 employees of Myntra&rsquo;s fashion subsidiary Jabong, have been reportedly demoted by at least one level including Kalyan Kumar, the Chief Buy

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Flipkart Valuation May Catapult To $20 Bn If Walmart Decides To Invest

US-headquartered retail giant Walmart is looking to acquire a big stake in homegrown ecommerce unicorn Flipkart. If the deal goes through, it would catapult Flipkart&rsquo;s valuation to $20 B

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EBay Writes Off $61 Mn On Its Investment In Ecommerce Startup Snapdeal

US-headquartered multinational ecommerce corporation eBay has written off close to $61 Mn on its investment in beleaguered online marketplace Snapdeal. In addition to being one of Snapdeal&rsq

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How India’s First Superbike Maker Emflux Motors Is Preparing To Manufacture 10 Mn Electric Two Wheelers By 2027

Elon Musk once said that we need to match the convenience of gasoline car in order for people to buy an electric car. However, when the world&rsquo;s biggest two-wheeler market India enters th

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Amazon Is An Increasingly Popular Choice Over Flipkart: Jana

Global ecommerce giant Amazon is an increasingly popular choice over homegrown Flipkart as a preferred shopping destination in India. &nbsp; Amazon India accounte

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Ola To Shut Down Bus Service 'Shuttle' To Rebalance Its Mobility Portfolio

Ride-hailing major Ola is looking to rebalance its mobility portfolio. Reportedly, the company will terminate its bus service, Shuttle on many routes including the Delhi-National Capital Regio

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Income Tax Dept. Stays Recovery Proceedings Of Angel Tax; Gives Startups A Breath Of Fresh Air

As an added relief for startups, the Income Tax department has stayed the recovery proceedings of angel tax levied on companies that are recognised as startups by the Department of Policy and

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Digital Transactions In India Reached A New Peak Of $2 Tn Last Month: RBI

As a result of the government&rsquo;s unrelenting &lsquo;Digital India&rsquo; push, digital transactions in the country reached a record high of 1.11 Bn in January 2018, up by 4.73% from the 1

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EnterpriseTech, HealthTech, FinTech Emerged As Top Sectors In 2017: India Tech Startup Funding Report

The Indian tech startups raised $13.5 Bn in funding across 885 deals in 2017. The sectorwise breakdown of deals reveals that the enterprisetech, healthtech and fintech had witnessed the maximu

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Energy Storage Startup ION Energy Acquires France Based Freemens SAS

Mumbai-based energy storage startup ION Energy has acquired French battery management company Freemens SAS, as part of a cash-and-equity deal. Post the acquisition, the entire Freemens enginee

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Online Lending Startup Cash Suvidha Raises $2.5 Mn In Debt Funding

Delhi-based online lending platform Cash Suvidha has raised $2.5 Mn in debt financing through financial institutions and private placement. &nbsp; The fintech sta

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Flipkart Shareholder Structure: Tiger Global’s Stake Drops From 33.6% To 20.5%

In the Indian startup ecosystem, homegrown ecommerce unicorn Flipkart led the funding race in 2017, having secured over $4 Bn across two rounds from a clutch of domestic and foreign investors,

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Ola Signs MoU With Government Of Assam To Pilot River Taxis

India&rsquo;s ride-hailing major, Ola has signed a MoU (Memorandum of Understanding) with Government of Assam for a pilot project of river taxi services in Guwahati. &nbsp;</div

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Self-Publishing Platform Pratilipi Garners $4.3 Mn Series A Funding Led By Omidyar Network

Self-publishing platform Pratilipi, run by Nasadiya Technologies, has raised $4.3 Mn in its Series A round of funding led by Omidyar Network. The round also saw the participation of existing i

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Coworking Chain Creator’s Gurukul Raises Undisclosed Amount Of Funding

Coworking space provider Creator&rsquo;s Gurukul has raised an undisclosed amount in a fresh round of funding. The company is also going live with its flagship centre near Cyber City in Millen

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Flipkart Losses Soar By 68% Despite 29% Growth In Revenue For FY17

Amid heavy losses and ongoing litigation with the taxation department, Flipkart Group has reported a rise in its revenues by nearly a third on YoY basis for the FY 2016-17. &nbs

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Cryptocurrency This Week: Indian Govt. May Regulate Bitcoin This Fiscal Year-End And More

After having a monumental rise to $20K, Bitcoin&rsquo;s honeymoon seems to be over. The dark knight is back to $9K. While some analysts term it further signs of &lsquo;Bitcoin bubble&rsquo; ge

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Budget 2018 Outlay On Infrastructure, Education, And Health - Opportunities In The Indian Tech Economy

The Union Budget 2018 is the last full budget by the NDA government. In their first couple of years, this government opened up the economy on the backs of some important policies and going aft

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'Norway looking for business collaboration with Gujarat'

Norway is hopeful of collaborating with Gujarat firms in various areas including waste management and higher education, its envoy said here today. &quot;An industry delegation f

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Budget 2018: Govt. To Launch An Aadhaar Like Unique Identity For Enterprises Too

During his Union Budget 2018 speech, Finance Minister Arun Jaitley reignited discussions on the government&rsquo;s biometric identification system, Aadhaar. &nbsp;

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Used Vehicle Company Mahindra First Choice Wheels Raises $15 Mn From Existing Investors

Used vehicle automotive services provider Mahindra First Choice Wheels Ltd (MFCWL) has raised $15 Mn (INR 100 Cr) in fresh funding from existing investors. The investment, which was in the for

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Flipkart’s Make In India Brand Billion Launches Power Banks

Flipkart, after enticing the Indian consumers with its smartphone Billion Capture+, has come out with another product in the Billion series &ndash; Power Bank. &nbsp; <di

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Foodtech Unicorn Zomato Rakes In $200 Mn From Alibaba’s Ant Financial

Indian foodtech unicorn Zomato has raised $200 Mn in a funding round led by Alibaba Group. &nbsp; The latest funding round has been led through Ant Small and Micr

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BigBasket Raises $300 Mn In Funding From Alibaba, Existing Investors

Bengaluru-based hyperlocal grocery delivery company BigBasket has raised a massive $300 Mn Series E funding in a round led by Chinese conglomerate Alibaba along with the participation of Abraa

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Infosys Co-Founder Shibulal Launches Startup Incubator EduMentum

Infosys co-founder SD Shibulal has launched a startup incubator EduMentum. The incubator will work for early-stage startups in offline education transformation space. &nbsp;</di

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Telecom Giant Reliance Jio Terms JioCoin Apps Fake

Amid more and more new crypto apps that offer JioCoin becoming available on Google Play, telecom operator Reliance Jio has clarified that the company has not launched any official JioCoin App.

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Electric Vehicles This Week: Mahindra To Dabble In Electric Cabs; Tesla Says No Production Issues With Model 3

While the Union Budget took the centre stage this week, electric vehicles managed to get ample media attention, thanks largely to the upcoming Auto Expo 2018. To be held between February 9 and

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Budget 2018: Indian Govt. To Take All Measures To Eliminate Cryptocurrency In Illegitimate Activities

In line with the previous moves, Finance Minister Arun Jaitley, while presenting the Union Budget 2018 today said that while the Indian government favours blockchain, it, however, will do ever

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Union Budget 2018 Live Updates And Its Impact On Indian Startups By Inc42

This year is the last full Union Budget for NDA government before the elections of 2019. For Indian startups, what really matters are the direct and indirect taxations proposed by the governme

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Edtech Company INurture Raises $4.3 Mn In Series C Funding

Bengaluru-based edtech company iNurture has raised $4.3 Mn in its Series C funding round. The round was led by Ventureast along with existing investors Bertelsmann India Investments and Ascent

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Yatra Reports 40.8% Revenue Growth In Q3 2017; Despite Surge In Adjusted EBITDA Losses

Gurugram-headquartered online travel portal Yatra has announced its unaudited financial results for the three months ending on December 31, 2017. As per its SEC filings, the company registered

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BrowserStack Sheds Its Bootstrapped Status, Rakes In $50 Mn Series A From Accel Partners

Web testing platform BrowserStack is finally moving on from being bootstrapped to landing a $50 Mn Series A funding from Accel Partners for a minority equity position. Mumbai-based BrowserStac

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End Of Angel Tax, Lower GST On Digital Services: IAMAI Shares Budget Expectations

Ahead of the Union Budget 2018, the Internet and Mobile Association of India (IAMAI) has highlighted some of the key tax-related challenges that the country&rsquo;s digital sector expects to b

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Union Budget 2018 Must Compensate The Adverse Effects Of GST, DeMo And RERA, Expect Real Estate Startups

In the past few years, the Indian real estate startups have grown significantly &ndash; from once being an online gateway and real estate marketplace to offering co-working space and offering

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Fintech Startup The Mobile Wallet Acquires Trupay

Fintech startup The Mobile Wallet (TMW) has acquired Trupay at an undisclosed price. The acquisition will help The Mobile Wallet to strengthen its merchant acquisition business by allowing its

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Zoho Launches Website Optimisation App Zoho PageSense, Cloud Integration Platform Zoho Flow

In order to tap the website optimisation market, Zoho today launched Zoho PageSense, a website optimisation software that helps marketers improve conversion rates by visualising, testing, and

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Logistics Startup XpressBees Finally Rakes In $35 Mn From Alibaba

After months of speculations, Alibaba has finally invested $35 Mn (INR 224 Cr) in Pune-based logistics company XpressBees, as per the latest regulatory documents filed with the Registrar of Co

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Indian Cab-Hailing Major Ola Will Now Challenge Uber In Australia

India&rsquo;s cab-hailing service, Ola, as part of its foray into the international markets, will soon be exploring Australia as its first destination outside India. &nbsp;</div

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Growing At 19%, Indian Ecommerce Market Hits $33 Bn: Economic Survey 2018

India&rsquo;s ecommerce market has reached $33 Bn registering a 19.1% growth in 2016-2017, says the recently-published Indian government&rsquo;s Economic Survey 2018. &nbsp;</di

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Healthcare Startup EKincare Raises $1.5 Mn Funding From Ventureast, Others

Hyderabad-based healthcare startup eKincare has secured $1.5 Mn in Series A funding from a clutch of investors, including Ventureast, Endiya Partners, Eight Roads, Touchstone Equities and form

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From Policy Hurdles To Affordable Healthcare For All: HealthTech Startups Share Their Expectations From Budget 2018

For a country like India, it becomes more imperative to take this advice into consideration. Amid a population of over 1.3 Bn, the 1: 1,700 doctor to patient ratio in the country is extremely

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Paytm Turns Decacorn Post $47.2 Mn Secondary Share Sale

Vijay Shekhar Sharma led Indian digital payment unicorn, Paytm has finally touched $10 Bn valuation with the recent secondary shares sale of ESOPs worth $47.2 Mn (INR 300 Cr). &

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Reliance Jio To Foray Into IoT, Initiate Talks With Enterprises

Reliance Jio is now planning to explore Internet of Things (IoT) with its major focus on enterprises and industries. The company has also initiated talks with car manufacturers, consumer durab

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Ecommerce Behemoth Amazon Fuels $306 Mn In Indian Arm

To outrun homegrown rival Flipkart, ecommerce giant Amazon has infused $306 Mn (INR 1,950 Cr) funding in its Indian arm, Amazon Seller Services. As per the company&rsquo;s regulatory filings,

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SoftBank In Talks To Acquire Stake In Insurance Startup PolicyBazaar At $800 Mn Valuation

SoftBank is in talks to invest in Indian online insurance aggregator PolicyBazaar at a valuation of $800 Mn. A Bloomberg report quoted people familiar with the matter saying that SoftBank is e

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Electric Vehicles This Week: Ola To Build Electric Auto Rickshaw Fleet; Panel Proposes Use Of ISRO’s Li-Ion Battery For EVs

Reiterating Ghosn&rsquo;s epigrammatic statement, a government panel led by Cabinet Secretary P. K. Sinha has suggested the commercial use of ISRO&rsquo;s lithium-ion battery technology for el

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Amazon India Claims 2X Orders Over Flipkart During Republic Day Sale, Flipkart Declines

Amazon India has claimed the top spot during the republic day sale battle, stepping ahead of the Indian ecommerce unicorn Flipkart. &nbsp; Amazon India held its G

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ICICI Lombard Looks To Tap OPD Health Insurance Industry With Practo

ICICI Lombard General Insurance has launched a health insurance app &mdash; &lsquo;IL TakeCare&rsquo; in collaboration with healthtech startup Practo. The app aims to meet the key customer req

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Once An Entrepreneur, Always An Entrepreneur: Kunal Shah To Kickstart His Startup Journey Again!

&ldquo;Either you run the day, or the day runs you.&rdquo; Freecharge founder Kunal Shah, after having turned to becoming an investor, investing in a number of startups, then becoming an advis

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Times Internet Acquires South Korea Based MX Player For $200 Mn, To Launch OTT Video Service

Times Internet has acquired a majority stake in Gangnam (Seoul) based MX Player for about $200 Mn, as per The Ken (Paywall). As per the report, the deal was in all cash and was&nbsp; reportedl

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Facebook Intensifies Facebook Marketplace: No Deadline For Pan-India Launch

Ever since Facebook launched its Facebook marketplace pilot in the Indian market in November last year, the company has intensified the testing in other Asian markets Singapore and Thailand to

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WhatsApp Business App Enters India, Available On Android

Messaging app WhatsApp has finally rolled out its new WhatsApp Business app in India. The app is currently available for Android platform. &nbsp; Last week, the W

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Facebook Joins T-Hub To Promote Innovation In AR/VR

In collaboration with Facebook, Hyderabad based T-Hub has kick started &lsquo;India Innovation Hub Accelerator Program&rsquo; to discover the best amongst startups working in the field on AR/V

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Grand Prize Of The $30M Google Lunar XPRIZE To Go Unclaimed

The XPRIZE authorities, who hosted the Google Lunar XPRIZE competition for global startups, with an aim to set foot on the moon, have decided to call it off without any winner.

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Microsoft Brings The Era Of Immersive Gaming, Launches Xbox One X In India

One of the world&rsquo;s leading platform and productivity, company for the mobile-first and cloud-first world, Microsoft launched the Xbox One X in India. The product is said to be the world&

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RoC Forbids Cryptocurrency Exchanges From Registering Under Companies Act, 2013

While South Korea has asked Bitcoin traders to reveal their identity, India has gone all out to shut all doors pertaining to cryptocurrency trading in the country. &nbsp;

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Milkbasket Receives $3 Mn In Pre-Series A Funding From Unilever Ventures

Gurugram-based online grocery startup, Milkbasket, has received $3 Mn funding in Pre-Series A round from Unilever Ventures. &nbsp; The startup plans to use this f

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Just Dial Reports A 23.7% Q-O-Q Decline In Net Profit For Q317, Up 4.2% Y-O-Y

The hyperlocal search engine Just Dial has reported a 4.2% YoY increase in net profit for its third fiscal quarter ended December 31, 2017. However, the net profit has dropped by 23.7% in Q317

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Paytm Valuation To Touch $10 Bn After Secondary Share Sale

Paytm is likely to be valued at about $10 Bn after some existing and former employees sell a part of their shares to new investors. As per three people familiar with the matter, the secondary

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Exclusive: AI Based HRTech Startup Skillate Raises Funding

AI-based HRTech startup Skillate has raised an undisclosed amount of funding from Incubate Fund India, and Industry expert and Director of Zyoin, Anuj Agrawal, says co-founder Anand Baranwal.<

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VC Firm Nexus Venture Partners To Raise Fifth Fund Of Upto $400 Mn

Homegrown VC firm, Nexus Venture Partners, is expected to raise its fifth fund targeting a corpus of $350Mn-$400 Mn. An ET reported cited three people close to the development, who said that t

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Ride Hailing Firm Uber Says It’s 100% Committed To India

Stating that its 100% committed to India, ride-hailing firm Uber has dismissed report of its exit from the Indian market as &ldquo;baseless speculation&rdquo;. An Uber spokesperson told ET, &l

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Paytm Launches Paytm For Business App For SMEs To Accept Digital Payments

In a move to make merchants take readily to digital payments, Paytm has launched the Paytm for Business app on Android Play Store today. The app enables new merchants to sign up quickly and ge

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Income Tax Department Asks Ecommerce Giant Flipkart To Reclassify Discounts As Capital Expenditure

Ecommerce player Flipkart has lost an appeal against the Income Tax (IT) department over the reclassification of marketing expenditure and discounts as capital expenditure, which involves subs

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Cryptocurrency This Week: Tumbling Bitcoin, New Crypto Fund And More

As Bitcoin price has plunged to $11.5K, critics have started writing this as the end of the road for Bitcoin. The analysis also depends upon how do we look back. If we are analysing Bitcoin pr

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TRAI Gives Nod For Mobile Calls And Internet Surfing On Flights

The Telecom Regulatory Authority of India (TRAI) has released its recommendations for In-Flight Connectivity (IFC) on January 18, 2018. The recommendation has come after the Department of Tele

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WhatsApp Business App Rolled Out In Select Markets On Android, India To Follow Soon

Messaging app WhatsApp has officially launched its new WhatsApp Business app in select markets, including Indonesia, Italy, Mexico, the UK and the US. The free-to-download Android app for smal

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Quikr Reported 55% Increase In Turnover To $10 Mn In FY17

Online classifieds platform Quikr reported a 55% increase in turnover to $10 Mn (INR 63.8 Cr) in FY17. As per its filings with the Registrar of Companies, the Tiger Global-backed company had c

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Electric Vehicles This Week: Ford To Invest $11 Bn In EVs; EESL Invites Bids For 2000 EV Chargers

There has been a lot of buzz surrounding electric vehicles over the last week. As more and more companies enter the global EV market, competition is understandably becoming fiercer. To beat ri

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WhatsApp Might Launch Its Digital Payments Feature As Early As Next Month

WhatsApp could launch its much-awaited payments feature as early as next month as per people close to the development. An ET report stated that the messaging app is at various stages of integr

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Paytm Payments Bank Launches Physical Debit Card Delivery Via App

The account holders in Paytm Payments Bank can now order physical debit cards from the Paytm app. Earlier, the bank provided only digital debit cards which are issued to customers upon opening

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India Overtakes The US To Claim Second Spot In App Downloads In 2017: App Annie Report

As per the App Annie 2017 Retrospective Report, India overtook the US to take the second spot in terms of the number of app downloads in 2017. China took the first spot, with four of the top f

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Going Beyond Tier 1: The Story Behind Venture Catalysts And Its Focus On Startup Ecosystem In Tier 2, Tier 3 Cities

When Mumbai-based Venture Catalysts launched itself as India&rsquo;s first seed investment and innovation platform in December 2015, the idea was to improve the &lsquo;Innovation Quotient&rsqu

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Grab Acquires Bengaluru Based Payments Startup IKaaz

Grab, the on-demand transportation and mobile payments platform in Southeast Asia has acquired Bengaluru-based startup iKaaz. With this, Grab is aiming to capture the rich functionality of iKa

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How Adoption Of Blockchain Technology Will Disrupt Agriculture

The rise of cryptocurrencies like Bitcoin and Ethereum has taken the financial industry by storm. However, irrespective of what the future holds for bitcoin and its peers. The underlying techn

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Alibaba To Launch OTT Video Service In India In Three Months

Chinese ecommerce giant Alibaba has announced plans to launch an over-the-top (OTT) video service in India over the next three months. As per a report by The Ken, the service will be introduce

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PhonePe Follows Paytm; Adds RedBus And More As In-App Features

Following in the footsteps of Paytm, Flipkart&rsquo;s digital payments arm PhonePe has added more apps on its platform as part of its in-app offerings. While the company had already added Safe

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Bajaj Finance To Get Higher Stake In Digital Payments Company MobiKwik Due To Change In Valuation

Bajaj Finance will now hold 12.60% in digital payments company MobiKwik, up from the 10.83% it acquired in August last year for about $35.2 Mn (INR 225 Cr). As per a stock-exchange filing, due

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Xiaomi became a $100 billion phone brand without wooing the West

Chinese phone giant Xiaomi is believed to be preparing for its IPO. This will be the first time the company has sold its shares to the public &mdash; retail and institutional investors alike.

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AngelList Brings Its Syndicates Platform To India

Silicon Valley-headquartered AngelList has announced the launch of its Syndicates platform in India. The Syndicates platform allows investors to invest in promising tech startups alongside exp

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Micromax To Launch India’s First Android Oreo Go Powered Smartphone

Gurugram-headquartered consumer electronics company Micromax is set to launch the country&rsquo;s first Android Oreo Go-based smartphone by the end of January. Dubbed as Bharat Go, the smartph

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Amazon Prime Inks Content Deal With Zee Music Company For Amazon Prime Music

Ecommerce major Amazon has inked a content deal with Zee Music Company for its upcoming music streaming service, Amazon Prime Music. The deal will add over 450 film soundtracks in Hindi and re

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Alibaba Brings Its Enterprise Chat App DingTalk To India

Taking the battle with Tencent funded chat app WeChat further, Alibaba-owned messaging platform DingTalk has now launched an English version of the app for India and Malaysia. Like team collab

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Paypal India Director Narsi Subramanian On How The Digital Payments Giant Is Enabling The GIG Economy In India

Narsi Subramanian, Director Growth, PayPal India is quite bullish about the growth of freelancers and digital payments in India as indicated during the release of global digital giant&rsquo;s

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Logistics Startup Rivigo Raises $50 Mn Funding From SAIF Partners, Warburg Pincus

Gurugram based logistics startup Rivigo might have broken into the Unicorn club with its latest $50 Mn Series D funding round, led by two of its existing investors Warburg Pincus and SAIF Part

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Morgan Stanley Marks Up Valuation Of Foodtech Unicorn Zomato To $2.5 Bn

The research firm of Morgan Stanley has marked up the valuation of homegrown foodtech unicorn Zomato to $2.5 Bn. As per reports, the estimation of Zomato&rsquo;s valuation was done by the glob

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Chinese Bike Rental Service Ofo To Launch In India In Tie-Up With Paytm

Beijing-based bike rental service Ofo will launch its services in India in a tie-up with Paytm. Reportedly, the Ofo bicycle sharing app will be available on Paytm app along with its standalone

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AI Focussed VC Fund Pi Ventures Announces Second Close Of Maiden Fund At $25 Mn

AI, Machine Learning and IoT focused early stage VC fund pi Ventures has announced the second close of its $30 Mn fund at $25 Mn. Key contributors to the fund include Sunil Kant Munjal, Chairm

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Flipkart Unveils Its Private Label MarQ ACs And Smart TVs At CES 2018

Ecommerce major Flipkart has launched an exclusive line of air conditioners and smart televisions under its private label MarQ, at the Consumer Electronic Show (CES) 2018 in Las Vegas. The Mar

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Cab Aggregator Ola Acquired 100% Stake In Foodpanda India For $31.7 Mn

Homegrown cab aggregator Ola acquired Foodpanda India from Germany-based Delivery Hero Group for $31.7 Mn (INR 202 Cr). As per its filings with the Ministry of Corporate Affairs, Ola parent AN

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Paytm Parent One97 Cuts Losses By 40% In FY2017 On Account Of Restructuring

One97 Communication, the parent company of Paytm has managed to reduce its losses by over 40% after the restructuring exercise wherein it separated its online retail from its payments business

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Fashion Startup Voonik Claims To Have Achieved EBITDA Profitability

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Cryptocurrency This Week: As Reliance Jio Plans To Launch JioCoin, KFC Announces Bitcoin Bucket

As we have stepped into 2018, despite a dream run in 2017, everyone appears to be sceptical about the future of Bitcoin and other cryptocurrencies in 2018. From the dark web of the cryptocurre

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Healthtech Startup HealthAssure To Invest $15 Mn Over The Next Three Years

HealthAssure, a seven-year old heathtech startup providing access to primary care to insurers and corporates across 1,000 cities, has announced plans to invest $15 Mn over the next three years

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Embassy Group Fuels $15.6 Mn In Coworking Space WeWork India

Real estate giant Embassy Group has fueled another $15.6 Mn in its coworking space JV WeWork India. 10 Mn compulsorily convertible Series B debentures with a face value of $1.6 (INR 100) each,

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Warren Buffett Predicts A Bad Ending For Cryptocurrencies And Bitcoins

&ldquo;I get into enough trouble with things I think I know something about. Why in the world should I take a long or short position in something I don&rsquo;t know anything about,&rdquo; told

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Cab Aggregator Ola Looks To Set Up Operations In Australia And New Zealand

Home-bred cab aggregator Ola is reportedly looking to set up operations in Australia and New Zealand. The move is aimed at accelerating growth, while also furthering investor Didi Chuxing&rsqu

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Electric Vehicles This Week: Tata Power Unveils Two EV Charging Stations In Mumbai

The Indian electric vehicles market has much to rejoice this week. On the one hand, the first batch of the government&rsquo;s EV tender is scheduled to be delivered in Delhi next week. On the

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Fintech Startup NiYO Solutions Picks Up $13.2 Mn Series A Funding

Bengaluru-based fintech startup NiYO Solutions has secured $13.2 Mn (INR 85 Cr) in Series A funding from Social Capital, JS Capital LLC, Horizons Ventures and existing investor Prime Venture P

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Google Lunar Xprize: ISRO Calls Off Contract With TeamIndus

India&rsquo;s first aerospace startup, and one of the five contenders of Google Lunar Xprize Competition, TeamIndus seems to have hit a major roadblock. As per reports, the startup&rsquo;s con

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Paytm Sets Up Its Wealth Management Division Paytm Money

Vijay Shekhar Sharma led fintech startup Paytm has set up its financial products arm Paytm Money Ltd. Paytm Money will focus on building investment and wealth management products for its users

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InMobi Acquires Los Angeles Based Adtech Startup AerServ For $90 Mn

Indian mobile adtech company InMobi has acquired Los Angeles-based mobile mediation and revenue management platform AerServ for $90 Mn in a cash-and-stock deal. The acquisition aims to create

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The Story Of Indian Robot Mitra From Inception To The GOI Finland Showcase Slush’17

The maker of Indian robot Mitra and CEO of Bengaluru-based Invento Robotics, Balaji Viswanathan stated these words when he recently joined GOInternational Finland, a Nordic international accel

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SME Lending Startup Lendingkart Raises $4.7 Mn Debt Funding From Dutch Bank

Ahmedabad-based SME lending startup Lendingkart has raised $4.7 Mn (INR 30 Cr) in its first-ever foreign debt funding round from a Dutch development bank &ndash; Nederlandse Financierings-Maat

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Mobile Gaming Studio Nazara Technologies Acquires NextWave

Mumbai-based mobile gaming studio Nazara Technologies has acquired a majority stake in NextWave Multimedia. With the acquisition of NextWave, Nazara strengthens its portfolio of offerings in t

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Digital Payments App PhonePe Gets Out Of Flipkart Shadow; To Offer Independent Fintech Solutions

Following in the footsteps of its sister entity Ekart, Flipkart-owned digital payments arm PhonePe is now geared up to develop independent fintech solutions, particularly insurance and mutual

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15 Startups Battle It Out At The Live Pitching Round Of TECH Rocketship Awards

The UK government&rsquo;s Department for International Trade (DIT), India and the British Deputy High Commission, Bengaluru hosted the 2017-18 TECH Rocketship Awards&rsquo; live pitching round

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NITI Aayog To Frame Policy On Electric Vehicles: Cabinet

Government-appointed think tank NITI Aayog will be responsible for framing the policy on electric vehicles. During a Cabinet Secretary Pradeep Kumar Sinha-chaired meeting yesterday, it was als

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In War With Ola: Uber In The Process Of Relaunching Auto Service In India

Amidst its struggle to find the missing piece for success in the Indian ecosystem against homegrown rival Ola, Uber is currently in the process of relaunching its auto service, UberAuto. As pe

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Paytm Payments Bank Partners With IndusInd Bank To Offer Fixed Deposit

After committing to invest&nbsp; $466.5 Mn (INR 3000 Cr) in the next three years to create a network of 10K offline consumer banking touchpoints, Paytm Payments Bank has now partnered with Ind

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30 Questions Every Venture Capitalist Will Ask A Startup Founder

Venture capitalists invest in a startup that effectively demonstrates how it is &ldquo;all in&rdquo; for persevering to develop business &ndash; whatever it takes. Over the last four years, we

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Startup Watchlist: 9 Fintech Startups To Watch Out For In 2018

This article is part of Inc42&rsquo;s Startup Watchlist annual series where we list the top startups to watch for 2018 from industries like Blockchain, Logistics, Fintech etc. Explore all the

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Delhi Based IT Company Newgen Software To Launch $71 Mn IPO Soon

New Delhi-headquartered Newgen Software Technologies is reportedly gearing up to launch an initial public offering (IPO) later this month. Through the move, the IT company is aiming to raise a

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Cryptocurrency This Week: As Indian Government Awaits For Expert Advice, Bitcoin Is Back On Track

After Japan and PayPal&rsquo;s co-founder Peter Thiel&rsquo;s Founders Fund threw their weight behind Bitcoin, buying Bitcoins worth $15 Mn-20 Mn, the cryptocurrency is back on track. The cryp

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Aadhaar System Vulnerable To Data Breaches: Edward Snowden

Amidst the ongoing debate on Aadhaar, Edward Snowden is the latest to voice concerns about the underlying vulnerability of the Aadhaar database. The development comes just two days after repor

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Ecommerce Marketplace Amazon To Sell Locally Made Food In India Soon

Having received the government&rsquo;s approval to invest $500 Mn in its food retail business, Amazon is reportedly gearing up to sell locally made and packaged food from March onwards, this y

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Facebook To Explore Cryptocurrency: Mark Zuckerberg

What&rsquo;s in a Bitcoin? Now, social media baron Mark Zuckerberg wants to explore the power the cryptocurrency, as a technology and also as an important means to empower decentralisation. Th

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Ebix Acquires Remittance Business Of Transcorp International For $7.4 Mn

ItzCash parent Ebix has entered into an agreement to acquire the Money Transfer Service Scheme (MTSS) business of Transcorp International. As per the official statement, the acquisition has be

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PayU To Surrender PayUMoney Wallet License; Will Focus On CitrusPay

Online payment service provider PayU India has announced that it will surrender the license of its digital wallet PayUMoney. The services of the PayUMoney wallet will be closed by January 31,

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Paisabazaar To Get $31.58 Mn Funding From Parent Firm EtechAces

Paisabazaar, the online financial services arm of digital insurance aggregator PolicyBazaar, has received a funding commitment of $31.58 Mn (INR 200 Cr) from its parent firm&nbsp; EtechAces Ma

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Uber Founder And Former CEO Travis Kalanick May Reportedly Sell 29% Stake For $1.4 Bn

Uber co-founder and former CEO Travis Kalanick is reportedly planning to sell a third of his shares in the ride-services company for about $1.4 Bn, as per a person familiar with the matter. Bl

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Aadhaar Data Of A Billion People Is On Sale At $8

While arguing for the central government&rsquo;s stand on Aadhaar case at the Supreme Court, the Attorney General (Now, Former) Mukul Rohatgi had once stated, &ldquo;The arguments on so-called

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Cryptocurrency: Bitcoin Exchanges To Approach AAR Over GST

Clueless about under which GST slab Bitcoin falls, cryptocurrency exchanges in India are now approaching the Advance Authority of Ruling seeking clarification over the applicability of tax rat

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Startup Watchlist: 11 Indian Healthtech Startups To Watch Out For In 2018

In May 2016, a Forbes article written by VC Dave Chase stated 98% digital health startups (globally) to be walking dead and synonymous with Zombies. He feared that these startups are unable to

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Electric Vehicles This Week: Karnataka Govt. To Procure 640 EVs Under FAME India

A new year, a new dawn. The year 2018 is poised to usher in unprecedented technological disruption and innovation across all sectors. In the mobility industry, electric vehicles are currently

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NITI Aayog To Explore Blockchain, AI For Key Sectors Like Education, Health

NITI Aayog, the government&rsquo;s premier policy-making body, is exploring the use of blockchain and AI technologies in areas such as education, health, and agriculture. Having completed thre

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Swiggy In Talks With Naspers And Tencent To Raise $200 Mn Funding

After Flipkart and SoftBank, Bengaluru-headquartered foodtech startup Swiggy has reportedly initiated discussions with Chinese investment conglomerate Tencent and existing investor Naspers for

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Flipkart Invests $257 Mn In Logistics Arm Ekart

Ecommerce Major Flipkart has invested around $257 Mn in its logistics subsidiary Ekart, operated by Instakart Services Pvt. Ltd. during the period between October and November 2017, as shown i

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Flipkart Founders Sachin Bansal And Binny Bansal Set Up New Venture Sabin Advisors

In a rather silent move, as more stakeholders have joined Flipkart&rsquo;s boardroom, Flipkart founders Sachin Bansal and Binny Bansal have incorporated a new company named Sabin Advisors on D

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UK Based Food Delivery Giant Deliveroo To Set Up India Operations

UK-headquartered online food delivery giant Deliveroo is gearing up to set up operations in the Indian market. Valued at $2 Bn, the Fidelity and T. Rowe Price-backed startup is reportedly look

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MedPlus Raises $117.67 Mn Debt Fund To Buyback 69% Stake From PE Investors

The promoter of Hyderabad-based pharmacy retail chain MedPlus has raised $117.67 Mn (INR 750 Cr) in a debt fund from Goldman Sachs to buyback shares from existing private equity investors.</di

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Digital Transactions Jumped To 1.06 Bn In December: RBI

2017 ended on a high note for the Indian digital payments industry, with digital transactions reaching a new peak of 1.06 Bn in December. As per data released by the RBI, this translates to a

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Govt. To Expand Digital Locker Project To Agriculture Ministry And More

On its mission to Make India digital by 2020, the Indian govt. is pushing its digital locker project hard around two years after its beta launch. As per reports, the service post its official

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2017 In Review: The 8 Hottest Sectors In The Indian Startup Ecosystem

Driving innovation in India is an army of tech-enabled startups that are working to revolutionise various sectors like healthcare, education, financial services, travel and tourism and logisti

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Revenue Requires Investment, Profit Requires Creativity

The purpose of a business is to generate over its lifetime a higher return for its shareholders than what they would have gotten by investing in risk-free options (such as government bonds). T

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Endowment Effect In Business: A Key To Gain Loyal Customers, Higher Product Value And More

We value things we own much more than the things we don&rsquo;t own. It&rsquo;s called the endowment effect. This goes well with our intuition that other people don&rsquo;t value our things as

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Enforcement Agencies May Bring Bitcoin Exchanges Under Scrutiny

Bitcoin platforms and exchanges may soon come under the scanner of enforcement agencies after the Indian government likened them to &lsquo;Ponzi schemes&rsquo; recently. As per a LiveMint repo

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Alibaba To Invest $100 Mn In Logistics Startup XpressBees

After investing in two hottest verticals &ndash; payments (Paytm) and grocery (BigBasket), Alibaba is now moving towards the backbone of Indian commerce &ndash; the logistics in the year 2018.

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The 7 Key FinTech Trends To Watch Out For In 2018

EY&rsquo;s Fintech Adoption Index (2017), a survey of more than 22,000 digitally active consumers, ranks India second (52%) behind China (69%) in terms of percentage of the digitally active po

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Cryptocurrencies Including Bitcoin Are Like Ponzi Schemes: Indian Government

The Ministry of Finance, India has cautioned Bitcoin and other cryptocurrency traders against the risk involved in such &lsquo;Ponzi schemes&rsquo;, in a statement released today.

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RBI Considers Extending KYC Deadline Of Mobile Wallets

In the second week of October, the RBI introduced stricter norms for PPIs, as per which users of mobile wallets had until the end of this year to convert to the full KYC format. In a new devel

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Facebook To Invest In Indian Startup Ecosystem In 2018

Social media giant Facebook said it will create opportunities and invest in the Indian startup ecosystem in 2018 in line with the government&rsquo;s Startup India campaign. &nbs

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How Blockchain Technology Is Changing The World Of Digital Finance

Everyone knows somebody who refuses to transact in anything but cash. They don&rsquo;t understand transacting without a physical medium; they enjoy the feeling of control and security that cas

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HDFC Bank Partners With Rajasthan Govt. To Promote Startup Culture In The State

HDFC Bank has announced a partnership with Rajasthan Government to promote and nurture startups in the state. Under this partnership, HDFC Bank will team up with the state government to provid

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For Paytm Boss, Vijay Shekhar Sharma, Sachin Bansal Is The Reason India Has A Vibrant Startup Ecosystem

If there is one word that describes Paytm boss Vijay Shekhar Sharma, it is &ldquo;hustler&rdquo;. A self-taught programmer, a child prodigy who had graduated as an engineer by the time he was

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Electric Vehicles This Week: Honda To Set Up EV Battery Plant In India And More

As 2017 draws to an end, the buzz around electric vehicles has reached fever pitch globally. While Honda has announced a partnership with Nissan to develop solid-state battery technology, Tesl

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Facebook Wants Indian Users To Open New Accounts By Using Their Names As On Aadhaar Cards

While the Supreme Court of India has extended Aadhaar linking to all services to March 31, 2018, it has found yet another interesting use case. Social network giant Facebook now wants users to

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Ecommerce Firms Flipkart And Amazon Deny Allegations Concerning Fake Products

Two days after US-based athletic footwear brand Skechers filed cases with the Delhi High Court against Flipkart and four other sellers for selling fake products, the country&rsquo;s leading on

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Startup Watchlist: 10 Indian AI Startups To Watch Out In 2018

&ldquo;AI will be the best or worst thing ever for humanity,&rdquo; says the billionaire entrepreneur Elon Musk. Musk has been one of the most vociferous about the impact of artificial intelli

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Startup Watchlist: 7 Indian Logistics Startups To Watch Out In 2018

This quote by Sun Tzu, the author of the book The Art of War, might be an old one, but its relevance is still intact. Ever since the middle ages, logistics has been a crucial part of winning o

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SME Lending Startup Lendingkart Raises $3.8 Mn Debt Funding From SBI

Ahmedabad-based SME lending startup Lendingkart Finance has raised $3.8 Mn (INR 25 Cr) in debt from the State Bank of India. The fundraise from SBI comes three months after the fintech platfor

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Virtual Reality Based Prop-Tech Startup Foyr Raises $3.8 Mn Series A Funding Led By JLL

Virtual reality-based prop-tech startup Foyr has raised $3.8 Mn in Series A funding led by property consultancy JLL and other individual and non-institutional investors. &nbsp;<

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Evolution Of Product Management From A Startup To An Organisation

During an organisation&rsquo;s initial years, the product team will essentially comprise of a few members faced with the difficulties typical of the startup phase, but as the organisation grow

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Digital Payments Giant Paytm Set To Launch Incubator For Startups

Homegrown digital payments unicorn Paytm has announced plans to launch an incubator for startups, with the aim of facilitating the development of innovative tech solutions in India. Through it

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After Abandoning Snapdeal, SoftBank Executive Lydia Jett Joins Flipkart Board

After stepping down from the Snapdeal board around two weeks ago, SoftBank&rsquo;s Lydia Jett has now joined the board of homegrown ecommerce unicorn Flipkart. Jett currently serves as a consu

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Amazon-Patni JV Seller Appario Retail Receives $15.69 Mn Capital Infusion

Appario Retail, the seller entity under the recently formed joint venture between Amazon and Patni Group, has received a capital infusion of $15.69 Mn (INR 100 Cr). &nbsp;

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Online Fashion Marketplace Myntra To Open Multi-Brand Offline Stores

In line with its O2O strategy (Online-To-Offline) Flipkart-owned online fashion marketplace Myntra is now considering to launch its own multi-brand offline stores where customers can see all t

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Footwear Brand Skechers Files Cases Against Flipkart And Its Four Sellers

The US-based athletic footwear brand Skechers has filed cases in the Delhi high court against ecommerce giant Flipkart and four other sellers for selling Skechers&rsquo; fake products. The fou

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Mobile Operating System Indus OS Raises $4 Mn From Existing Investors

Homegrown mobile operating system and native applications platform Indus OS has raised $4 Mn Pre Series B funding from existing investors Omidyar Network, Ventureast and JSW Ventures. With thi

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Amazon Prime Membership Program Now Applicable To 11 Mn Products In India

Amazon&rsquo;s popular membership programme, Amazon Prime has grown to encompass over 11 Mn Prime eligible products across categories in India this year, compared to the 2 Mn products it offer

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Electric Vehicles This Week: Toyota To Launch 10 EV Models; Droom To Enter EV Market

&ldquo;You have to match the convenience of the gasoline car in order for people to buy an electric car,&rdquo; opines Tesla founder and CEO Elon Musk, the &ldquo;Iron Man&rdquo; of the tech w

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Quikr India To Buy HDFC Developers, HDFC Realty From HDFC For $55 Mn

Online classifieds platform Quikr India has bought two subsidiaries of mortgage lender Housing Development Finance Corp. Ltd (HDFC) focusing on real estate brokerage and online property, namel

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Flipkart Bolsters Artificial Intelligence Push By Creating An Internal AIforIndia Unit

India&rsquo;s ecommerce behemoth Flipkart is taking big steps to make headway in the area of artificial intelligence by creating an internal unit called AIforIndia, in order to put machine lea

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IoT Startup KaHa Raises $4.5 Mn Funding To Fuel Global Expansion

Singapore-based consumer IoT startup KaHa has raised $4.5 Mn (INR 29 Cr) in a funding round led by Metals International, with the participation of Jungle Ventures, SPRING SEEDS Capital and exi

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Ratan Tata Backed Online Fashion Startup Kaaryah Pulls Down Shutters

Ratan Tata-backed online women&rsquo;s fashion portal Kaaryah has closed shop, after being operational for over three years. The Gurugram-based startup has pulled down the shutters due to lack

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Info Edge Pumps $1.9 Mn Series A Funding In Edtech Startup Univariety

Online classifieds platform Info Edge, which runs job portal Naukri.com, real estate site 99acres and Jeevansaathi, has invested $1.9 Mn (INR 12.5 Cr) in Univariety. With this, Info Edge has a

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Virtual Social Trading Platform TrakInvest Launches New Cryptocurrency, TRAK Tokens

Singapore-based virtual social trading and learning startup TrakInvest has moved to a blockchain platform. Based on Ethereum blockchain, the startup has launched its own utility-based cryptocu

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Alibaba Cloud All Set To Launch India Data Centre To Take On Google, Microsoft And AWS

Alibaba Cloud, the cloud computing arm of Chinese ecommerce giant Alibaba, is gearing up to open its India data centre in January 2018. As part of its announcement earlier today, the company h

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P2P Lending Startup Faircent Raises $3.9 Mn In Series B Funding

Gurugram-based P2P lending startup Faircent has closed $3.9 Mn in a Series B round of funding. Investors participating in this latest funding round include Incofin Investment Management and Fa

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Edtech Startup Springboard Raises $9.5 Mn In Series A Funding

San Francisco and Bengaluru-based online edtech startup Springboard has raised $9.5 Mn in Series A funding, led by Costanoa Ventures. Other investors who participated in the funding are Learn

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Automobile Marketplace Droom Makes Its Way Into Electric Vehicle Segment

Sandeep Aggarwal-led Automobile marketplace Droom has announced its entry into the electric vehicles segment. The company has reportedly tied up with players like Mahindra, Hero Electric, Okin

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Vijay Shekhar Sharma Pledges $50 Mn Worth Of Personal Shares For ESOP Pool In Paytm Mall

Founder and CEO of Paytm, Vijay Shekhar Sharma has pledged about 5% of his personal holding in Paytm Mall for the ESOP pool. This move would add about $50 Mn worth of stocks to the ESOP corpus

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Ola Acquires Foodpanda India From Delivery Hero To Re-Enter Food Delivery

Cab aggregator Ola is once again setting its foot into the food delivery space by acquiring Foodpanda India from Germany based Delivery Hero Group. Ola has also committed to invest $200 Mn in

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Skymet Raises Series C Funding From Germany-Based InsuResilience Investment Fund

Noida-based agritech startup Skymet Weather Services has raised an undisclosed amount in Series C round of funding from the German government&rsquo;s InsuResilience Investment Fund. As part of

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Times Internet Acquires Spiritual Content Startup House Of God

Gurugram-headquartered media and entertainment conglomerate Times Internet has acquired mobile spiritual content provider House of God for an undisclosed amount. Incubated at Delhi-based EROS

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German EV Startup Magnum Pirex To Invest $15.5 Mn To Bolster India Entry

German startup Magnum Pirex is eyeing to enter the Indian EV market, with plans to set up a manufacturing base in Andhra Pradesh at an investment of around $15.5 Mn (INR 100 Cr). As per source

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