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Former Apple, Google chipmakers' startup NUVIA raises $53 million
short by Kanishka Pandey / on 16 Nov 2019,Saturday
NUVIA, a California-based processor-making startup founded by three former Apple and Google chipmakers, has raised $53 million in a Series A funding round. The nine-month-old startup was founded by IIT-Delhi alumnus Manu Gulati along with John Bruno and Gerard Williams III. The $53-million round was co-led by Capricorn Investment Group, Dell Technologies Capital, Mayfield and WRVI Capital.
short by Kanishka Pandey / 09:56 am on 16 Nov
India has incredible potential in health sector, says Bill Gates
short by Kanishka Pandey / on 16 Nov 2019,Saturday
Microsoft Co-founder Bill Gates, in a recent interview, said that India has incredible potential in sectors including health and IT. "India supplies about half of the units of vaccines that get made in the world," he said. Gates further added that the 'Bill & Melinda Gates Foundation' has had great partnerships with many groups in India about doing new vaccines.
short by Kanishka Pandey / 04:02 pm on 16 Nov
Gurugram's Burger Singh raises funding led by RB Investments
short by Kanishka Pandey / on 16 Nov 2019,Saturday
Gurugram-based burger brand Burger Singh has raised an undisclosed amount of funding led by Singapore-based VC firm RB Investments, which was also an early-stage investor in food delivery giant Swiggy. The round also saw participation from existing investors Ashish Dhawan and Sanjeev Bikhchandani through their family offices. Burger Singh has reportedly raised an estimated $6 million to date.
short by Kanishka Pandey / 01:23 pm on 16 Nov
Paper Boat Co-founder's men's health brand Misters raises $1 mn
short by Kanishka Pandey / on 15 Nov 2019,Friday
Misters, the men's health and wellness brand co-founded by IIM-Calcutta alumnus and Paper Boat Co-founder Suhas Misra, has raised about $1 million in seed funding. The funding round saw participation from Sauce.vc and Rainforest Venture Network along with a few angel investors. Misters was founded by Misra along with IIM-Ahmedabad alumnus Gaurav Gupta and Narsee Monjee alumnus Saurabh Kumar.
short by Kanishka Pandey / 02:48 pm on 15 Nov
Paytm gets a 5-year deadline from SoftBank to go public: Report
short by Kanishka Pandey / on 14 Nov 2019,Thursday
Paytm has reportedly received a five-year IPO deadline as part of a new $1-billion funding round. The terms for the funding reportedly also state that in case the Noida-based fintech giant fails to go public, SoftBank will sell its 19% stake to other investors. The $1-billion round could also see participation from T Rowe Price and Alibaba’s affiliate Ant Financial.
short by Kanishka Pandey / 11:34 am on 14 Nov
Former Foodpanda, Paytm execs' startup 'simsim' raises ₹43 crore
short by Kanishka Pandey / on 15 Nov 2019,Friday
Delhi-based vernacular video commerce app 'simsim' has raised over ₹43 crore in Series A round of funding. The funding round was led by Accel India and Shunwei Capital. Founded by former Foodpanda COO and MD Kunal Suri and former Paytm Senior VPs Saurabh Vashishtha and Amit Bagaria, 'simsim' is reportedly also backed by former Google India head Rajan Anandan.
short by Kanishka Pandey / 09:10 am on 15 Nov
Reliance may buy 51% stake in software startup NowFloats: Report
short by Kanishka Pandey / on 15 Nov 2019,Friday
Mukesh Ambani-led Reliance is reportedly in advanced talks to acquire 51% stake in Hyderabad-based software startup NowFloats. "The negotiation has been underway for about two months...the deal [could] be sealed and announced later this month," Entrackr's sources said. Entrackr said it has confirmed from NowFloats' regulatory filings that it's in the process of selling 51% equity.
short by Kanishka Pandey / 07:00 pm on 15 Nov
Tiger Global-backed Ninjacart raises ₹30 crore from Trifecta
short by Kanishka Pandey / on 16 Nov 2019,Saturday
Bengaluru-based online agriculture-marketing startup Ninjacart has raised ₹30 crore debt funding from venture debt provider Trifecta Capital, regulatory filings have revealed. Ninjacart had raised about $90 million (₹625 crore then) from Tiger Global in its Series C earlier in April. Founded in 2015, Ninjacart enables farmers to directly sell to end retailers like grocery stores and restaurants.
short by Kanishka Pandey / 09:27 am on 16 Nov
Investors said no about 150 times: India's 1st gaming unicorn's CEO
short by Kanishka Pandey / on 15 Nov 2019,Friday
Harsh Jain, CEO of India's first unicorn (billion-dollar) gaming startup Dream11, has revealed that before raising Series A funding round, he heard investors say 'no' close to 150 times. Jain said that his perseverance kept him going from one rejection to another until Kalaari Capital decided to invest in the startup in 2014. Dream11 achieved the 'unicorn' status in April.
short by Kanishka Pandey / 11:58 am on 15 Nov
Bike-sharing startup Bounce's app bug exposes 20 lakh users' data
short by Kanishka Pandey / on 15 Nov 2019,Friday
A security researcher found a digital flaw in the Bengaluru-based bike-sharing startup Bounce's app which allegedly exposed the data of about 20 lakh users. "We immediately launched an investigation and fixed the bug," Bounce Co-founder and CEO Vivekananda Hallekere said. Founded in the year 2014, the startup provides last-mile connectivity for public transportation.
short by Kanishka Pandey / 09:56 am on 15 Nov
Virgin Galactic starts program to prepare its space tourists
short by Kanishka Pandey / on 16 Nov 2019,Saturday
Billionaire Richard Branson-led aerospace firm Virgin Galactic has begun its "Astronaut Readiness Program" this week, a preparatory course that all of its commercial passengers will undertake. Virgin Galactic has over 600 customers from 60 nations signed up to fly aboard its SpaceShipTwo spacecraft. The spacecraft reaches sub-orbital space and provides a 90-minute flight, for $250,000 per ticket.
short by Kanishka Pandey / 10:20 am on 16 Nov
Govt may lower fines on startups to boost compliance: Report
short by Dharna / on 16 Nov 2019,Saturday
In order to boost compliance, the government may reportedly lower fines on startups, smaller entities and farmer producer organisations under the Companies Act. The Company Law Committee is expected to recommend reducing penalties for such firms to half of those levied on larger companies, the Economic Times reported. The panel is being headed by Corporate Affairs Secretary Injeti Srinivas.
short by Dharna / 10:30 pm on 16 Nov
Info Edge denies any plans to sell stake in Zomato
short by Dharna / on 16 Nov 2019,Saturday
Info Edge has refuted a report claiming it could sell its stake in Zomato by May 2020. "We aren't looking at a secondary sale in Zomato as of now. If it reaches breakeven by March or April, things might be different," the report quoted a senior executive as saying. Info Edge said the statement was misquoted and misrepresented its intent.
short by Dharna / 08:51 pm on 16 Nov
ITC to acquire 33% stake in Bengaluru vending machine startup
short by Anushka Dixit / on 14 Nov 2019,Thursday
ITC announced on Wednesday that it will acquire up to 33.4% stake for about ₹7.5 crore in Bengaluru-based vending machine startup Delectable Technologies. ITC plans to complete the full acquisition in 12 months. Founded by IIT-graduate Satvik Sarwade, Delectable Technologies operates the Azgo app and vending machines. The startup's net worth as on March 31 was ₹1.48 crore.
short by Anushka Dixit / 07:20 pm on 14 Nov
T-Mobile CEO John Legere to not become CEO of WeWork: CNBC
short by Dharna / on 16 Nov 2019,Saturday
T-Mobile CEO John Legere has no plans to become the CEO of WeWork, the CNBC reported. It added that Legere was avoiding a potential conflict of interest as WeWork's majority stakeholder SoftBank is also the controlling shareholder of Sprint which is in the process of merging with T-Mobile. In September, WeWork Co-founder Adam Neumann had stepped down as its CEO.
short by Dharna / 05:14 pm on 16 Nov
Ola-backed rental startup Vogo's losses grow 12-fold to ₹39 cr
short by Anushka Dixit / on 14 Nov 2019,Thursday
Ola-backed rental platform Vogo Automotive has reported a 12-fold increase in its losses to ₹39.2 crore during the financial year ended March 2019. Its losses stood at ₹3.3 crore in the same period in 2018. The startup's operational revenue stood at ₹5.7 crore in FY19, up from ₹2 crore a year ago. It claims to return profits in FY22.
short by Anushka Dixit / 10:00 pm on 14 Nov
Alia Bhatt-backed fashion startup raises $2 mn from US' AMJ Ventures
short by Anushka Dixit / on 14 Nov 2019,Thursday
US-based investor AMJ Ventures announced on Thursday that it has invested $2 million in Alia Bhatt-backed fashion tech startup StyleCracker. Alia Bhatt had invested an undisclosed amount in the startup for a minority stake as part its of pre-Series A funding in 2017. The startup, run by Mumbai-based Kanvas Consultancy, was founded by Dhimaan Shah and Archana Walavalkar.
short by Anushka Dixit / 11:06 pm on 14 Nov
Faasos parent Rebel Foods posts 75% rise in FY19 losses
short by Dharna / on 16 Nov 2019,Saturday
Rebel Foods, whose brands include Faasos and Oven Story, has posted a 75.5% rise in its 2018-19 losses to ₹130.6 crore from ₹74.4 crore in the previous financial year. As per regulatory filings, the firm's revenue has more than doubled to nearly ₹310 crore during the period. Its total expenses also grew twofold to around ₹441 crore in 2018-19.
short by Dharna / 10:24 pm on 16 Nov
IT firm Mindtree's founders to set up $120 mn startup fund
short by Anushka Dixit / on 17 Nov 2019,Sunday
Co-founders of IT consultancy firm Mindtree, Krishnakumar Natarajan, Parthasarathy NS and Rostow Ravanan, have created their own $120 million fund to invest in tech startups. It will be structured as a privately pooled investment fund in the form of a trust or a company. The Co-founders had resigned from Mindtree earlier this year following the takeover by Larsen and Toubro.
short by Anushka Dixit / 03:18 pm on 17 Nov
WeWork's Q3 loss more than doubles to $1.25 billion
short by Aishwarya / on 15 Nov 2019,Friday
Co-working space startup WeWork has reported a loss of $1.25 billion in Q3, up from $497 million in the same period last year. The loss follows WeWork's failure to launch an IPO this year. However, its revenue almost doubled year-on-year to $934 million. In an email to staff, co-CEOs Artie Minson and Sebastian Gunningham called the quarter a "difficult chapter".
short by Aishwarya / 10:14 pm on 15 Nov
Jumbotail, an online food and grocery marketplace for wholesale buyers, has raised ₹14.2 crore from its existing investor Nexus Venture Partners, as per the filings accessed by Inc42. The Bengaluru-based startup had posted consolidated revenue of ₹224.5 crore and a loss of ₹66.27 crore in 2018-19. Jumbotail was co-founded in 2015 by Karthik Venkateswaran and Ashish Jhina.
short by Dharna / 09:00 am on 17 Nov
Gurugram-based logistics startup Shipsy has raised ₹5 crore from Naukri parent Info Edge India in a pre-Series A funding round. In a press statement, Shipsy said the funds will be used for its sales and marketing efforts and broadening product offerings. Post the investment, Info Edge will own a 10% stake in Shipsy on a fully converted and diluted basis.
short by Aishwarya / 08:05 pm on 16 Nov
US delivery startup DoorDash raises $100 mn: Reports
short by Aishwarya / on 14 Nov 2019,Thursday
US-based delivery startup DoorDash has reportedly raised $100 million in a Series G funding round from T Rowe Price Group at a valuation of nearly $13 billion. The startup had earlier raised $600 million in May. Backed by SoftBank and Sequoia Capital, DoorDash has raised almost two-thirds of its total $2 billion funding in the last 18 months.
short by Aishwarya / 11:02 pm on 14 Nov
Bengaluru scooter-rental startup Vogo raises ₹7 crore from Kalaari
short by Kanishka Pandey / on 15 Nov 2019,Friday
Bengaluru-based scooter-rental startup Vogo has raised over ₹7 crore in an ongoing Series C funding round from Kalaari Capital, Entrackr reported citing regulatory filings. The funding comes days after Entrackr revealed that the startup had kicked-off its Series C round with over ₹21 crore from existing investors including Matrix Partners and Stellaris Venture Partners. Vogo was founded in 2016.
short by Kanishka Pandey / 09:00 pm on 15 Nov
IAN Fund invests ₹15 cr in Gurugram e-scooter startup Zypp
short by Anushka Dixit / on 14 Nov 2019,Thursday
Indian Angel Network (IAN) Fund has invested ₹15 crore in Gurugram-based e-scooter startup Zypp (earlier known as Mobycy). The startup has so far raised over $10 million in funding from investors including Venture Catalysts, as per Crunchbase. Notably, the government is committed to investing $1.4 trillion in developing EV infrastructure in the next five years.
short by Anushka Dixit / 04:13 pm on 14 Nov
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