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Musk's Neuralink unveils 'threads' that link brains to computers
short by Kanishka Pandey / on 17 Jul 2019,Wednesday
Elon Musk has unveiled his new startup Neuralink's flexible "threads" designed to be inserted in brains to link them directly to computers. Musk said Neuralink, in the long term, is about finding a way to "achieve a sort of symbiosis with artificial intelligence." "We hope to have this in a human patient by the end of next year," Musk added.
short by Kanishka Pandey / 03:06 pm on 17 Jul
Amazon launches 'JEE Ready' app, enters edtech space in India
short by Kanishka Pandey / on 17 Jul 2019,Wednesday
American e-commerce giant Amazon has entered the edtech sector in India with the launch of an IIT-JEE exam preparation app called 'JEE Ready'. The JEE Ready app is currently in its beta testing phase and available only on Android devices. Amazon has reportedly partnered with coaching institutes to prepare 'All India Mock Test' to be offered in the app.
short by Kanishka Pandey / 09:30 am on 17 Jul
Rivigo fires up to 100 employees, cancels on-campus offers
short by Kanishka Pandey / on 17 Jul 2019,Wednesday
Gurugram-based billion-dollar logistics startup Rivigo has fired up to about 100 employees, mainly in its freight marketplace team, over the last few months. The startup had to withdraw around 50 offers from 10 premier campuses before joining dates, including IIT and IIM, among others. Rivigo Co-founder Gazal Kalra, confirming the firings, said they were over "performance and market dynamics".
short by Kanishka Pandey / 06:51 pm on 17 Jul
Crime Branch may drop Homigo fraud case after K'taka HC order
short by Kanishka Pandey / on 18 Jul 2019,Thursday
Following Karnataka High Court's order that a fraud case of reportedly about ₹20 crore against Bengaluru-based co-living startup Homigo was a civil dispute, the Central Crime Branch is set to drop its investigation, Inc42 revealed. The HC had put an interim stay on the investigation. Tenants alleged Homigo Founders, IIT-Kanpur graduates Nikunj Batheja, Jatin Mitruka and Aakash Verma, were missing.
short by Kanishka Pandey / 04:27 pm on 18 Jul
OYO confirms acquiring co-working space provider Innov8
short by Kanishka Pandey / on 16 Jul 2019,Tuesday
India's most valuable private hotel chain, Gurugram-based OYO confirmed it has acquired co-working space provider Innov8, reportedly for over ₹200 crore. OYO Workspaces is already operational across 10 Indian cities with over 20 centres, comprising Innov8, Workflo and Powerstation as its three in-house brands, OYO said. It added it plans to have 50 OYO Workspaces centres by end of 2019.
short by Kanishka Pandey / 08:05 pm on 16 Jul
Uber glitch charges people 100 times the normal fare for trips in US
short by Pragya Swastik / on 18 Jul 2019,Thursday
An Uber glitch on Wednesday charged riders in several US cities 100 times their normal fare for short trips. Riders in cities including Washington and San Diego took to social media to post about the hiked rates. Uber said the glitch was fixed and the fare would be corrected so riders are charged only the amount for their actual trip.
short by Pragya Swastik / 06:05 pm on 18 Jul
Sachin Bansal puts ₹200 cr in Piramal Enterprises' debt: Report
short by Kanishka Pandey / on 16 Jul 2019,Tuesday
Flipkart Co-founder Sachin Bansal has invested ₹200 crore in debt papers issued by Piramal Enterprises, via non-convertible debentures (NCDs) route, Livemint reported. The NCD, issued at an interest coupon of around 9.5% and a repayment period of two years, would be used in Piramal's financial services business, the report said. Piramal Group is also reportedly in fundraising talks with SoftBank.
short by Kanishka Pandey / 04:06 pm on 16 Jul
I spend billions on space because we're destroying Earth: Jeff Bezos
short by Kanishka Pandey / on 18 Jul 2019,Thursday
World's richest person and aerospace startup Blue Origin's Founder Jeff Bezos said he chooses to spend billions of dollars on space exploration because "we're in the process of destroying this planet." "I think it's important for the dynamism of the future generations," Bezos added. "Everybody who goes to space says...they small and fragile [Earth] is," he further said.
short by Kanishka Pandey / 09:30 pm on 18 Jul
eBay to buy 5.5% Paytm Mall shares reportedly at $3 bn valuation
short by Kanishka Pandey / on 18 Jul 2019,Thursday
US-based online marketplace giant eBay has agreed to buy a 5.5% stake in Paytm's e-commerce unit Paytm Mall, reportedly for $170-200 million at a valuation of about $3 billion. This will mark eBay's third investment in Indian e-commerce space. It had invested about $133 million in Snapdeal in 2014 and had sold its 6.55% Flipkart stake after Walmart acquired it.
short by Kanishka Pandey / 02:56 pm on 18 Jul
US, Pune-based tech startup Icertis now unicorn with $115 mn funding
short by Pragya Swastik / on 17 Jul 2019,Wednesday
Washington and Pune-based technology startup Icertis has become a unicorn (achieved billion-dollar valuation) after raising $115 million in an advanced-stage funding round co-led by Greycroft Partners LLC and Wipro's Azim Premji's PremjiInvest. Existing investors including B Capital Group and Cross Creek Advisors participated. Founded in 2009, Icertis helps businesses manage contracts in the cloud.
short by Pragya Swastik / 03:22 pm on 17 Jul
Byju's valuation hikes $2 bn to $5.5 bn in latest funding round
short by Kanishka Pandey / on 16 Jul 2019,Tuesday
The valuation of India's most valuable edtech startup, Bengaluru-based Byju's, hiked by about $2 billion since its last funding to $5.5 billion in its ongoing Series F round. The startup has raised over $460 million in the round so far, as per data intelligence platform Byju's had confirmed raising $540 million from Naspers, among others, in December 2018.
short by Kanishka Pandey / 06:22 pm on 16 Jul
We'll fly humans to space for our 1st time this year: Bezos
short by Kanishka Pandey / on 19 Jul 2019,Friday
Jeff Bezos, at a recent interview with CBS, said his aerospace startup Blue Origin will be flying humans for the first time on its reusable rocket New Shepard this year. "Space tourism is going to start with a very short...11-minute ride up into space," Bezos said. "You'll be able to see how fragile this planet really is," he added.
short by Kanishka Pandey / 09:30 am on 19 Jul
Aishwarya Rai Bachchan, mother invest in Bengaluru startup Ambee
short by Pragya Swastik / on 16 Jul 2019,Tuesday
Actress Aishwarya Rai Bachchan and her mother have invested in Bengaluru-based environmental intelligence startup Ambee. Investors including Rajan Anandan, Google's former Southeast Asia and India Vice President, together invested ₹3.22 crore in the startup. Founded in 2017, Ambee provides data about hyperlocal air quality which is accessible to developers, consumers, health researchers and media companies.
short by Pragya Swastik / 11:52 am on 16 Jul
Rajinikanth's daughter Aishwaryaa backs yoga startup Sarva
short by Kanishka Pandey / on 19 Jul 2019,Friday
Mumbai-based fitness and yoga startup Sarva has raised an undisclosed amount of funding from Tamil superstar Rajinikanth's daughter Aishwaryaa R Dhanush. She will lead Sarva's yoga wellness arm Diva Yoga's growth in South India. Founded in 2016, Sarva had recently raised funding from celebrities including Malaika Arora, Jennifer Lopez, Alex Rodriguez, Shahid Kapoor and Mira Kapoor.
short by Kanishka Pandey / 09:59 am on 19 Jul
Mark Cuban, Serena Williams invest $3 mn in startup for new moms
short by Pragya Swastik / on 15 Jul 2019,Monday
Investor Mark Cuban and tennis star Serena Williams have invested $3 million in Mahmee, a US-based startup that delivers data-driven care coordination and personalised support to new mothers. It provides online group discussions with other moms, connection to medical service providers and support from trained maternity coaches. It was founded in 2014 by Melissa Hanna, Linda Hanna and Sunny Walia.
short by Pragya Swastik / 08:34 pm on 15 Jul
New Delhi co-working space startup Awfis raising ₹90 crore
short by Kanishka Pandey / on 17 Jul 2019,Wednesday
New Delhi-based co-working space startup Awfis is raising about ₹90 crore in a mix funding round of equity and convertible debt from Bisque Limited and Link Investment Trust, regulatory filings revealed. The startup had raised $20 million in Series C funding in July 2018. Founded in 2015, Sequoia Capital-backed Awfis has raised over $43 million to date, as per Crunchbase.
short by Kanishka Pandey / 06:34 pm on 17 Jul
L&T Infotech to buy Lymbyc in 5th acquisition since listing
short by Dharna / on 17 Jul 2019,Wednesday
IT services company L&T Infotech (LTI) has signed an agreement to acquire Bengaluru-based advanced analytics startup Lymbyc Solutions for ₹38 crore. This would be LTI's fifth acquisition since its listing in 2016, after having acquired India-based Ruletronics, AugmentIQ, and European firms Nielsen Partner and Syncordis. The company has committed over ₹340 crore across these acquisitions.
short by Dharna / 11:10 pm on 17 Jul
Software unicorn Druva buys data protection startup CloudLanes
short by Kanishka Pandey / on 18 Jul 2019,Thursday
US-based cloud backup and data protection unicorn Druva has acquired data protection startup CloudLanes for an undisclosed amount. Founded in the year 2015, CloudLanes introduced a secondary storage platform built on public clouds with a hybrid cloud approach. Sequoia-backed Druva had achieved its unicorn or billion-dollar status in a $130-million funding led by Viking Global Investors in June.
short by Kanishka Pandey / 10:02 pm on 18 Jul
Indonesia ride-hailing unicorn Go-Jek gets funding from Visa
short by Kanishka Pandey / on 18 Jul 2019,Thursday
Global payments technology provider Visa has invested an undisclosed amount in Indonesian ride-hailing and logistics unicorn Go-Jek's ongoing Series F round of funding. Go-Jek and Visa will be partnering together to offer payment solutions to Southeast Asian Go-Jek users. Founded in 2010, Go-Jek offers on-demand motorbikes and taxis, along with services like grocery delivery and mobile payments.
short by Kanishka Pandey / 11:00 am on 18 Jul
Crypto exchange Cryptokart shuts down over regulatory uncertainty
short by Kanishka Pandey / on 17 Jul 2019,Wednesday
Cryptocurrency exchange Cryptokart has decided to shut down its operations after about two years. The RBI had barred banks from serving cryptocurrency exchanges and firms in April 2018. Cryptokart Co-founder Gaurang Poddar said that since this decision, the general interest in cryptocurrency in India has "tanked" and regulatory uncertainty "just makes any long term planning difficult".
short by Kanishka Pandey / 10:04 pm on 17 Jul
Grofers raises $10 mn from Abu Dhabi's Capital Investments
short by Kanishka Pandey / on 16 Jul 2019,Tuesday
Gurugram-based online grocery delivery startup Grofers has raised $10 million from Abu Dhabi's Capital Investment in its ongoing $200-million Series F round, as per regulatory filings accessed by The SoftBank-backed startup raised $130 million from its parent entity. Founded in 2013 by Albinder Dhindsa and Saurabh Kumar, Grofers has raised nearly $472 million to date, as per Crunchbase.
short by Kanishka Pandey / 03:14 pm on 16 Jul
Former Yahoo executives' startup Travelstop gets $3 million
short by Kanishka Pandey / on 18 Jul 2019,Thursday
Singapore-based corporate travel startup Travelstop has raised $3 million in a pre-Series A round of funding led by Accel. The investment also saw participation from Strive and existing investor SeedPlus. Launched in 2018 by former Yahoo executives Prashant Kirtane, Vijay Aggarwal and Altaf Dhamani, Travelstop had raised seed funding of $1.2 million led by SeedPlus in August 2018.
short by Kanishka Pandey / 06:29 pm on 18 Jul
Sachin Bansal's BAC Acquisitions to invest ₹20 crore in boAt
short by Kanishka Pandey / on 17 Jul 2019,Wednesday
Flipkart Co-founder Sachin Bansal’s co-founded fund BAC Acquisitions (BACQ) has committed a venture debt of ₹20 crore to Mumbai-based consumer electronics brand ‘boAt’. Founded by Aman Gupta and Sameer Mehta in 2016, ‘boAt’ is a consumer tech brand which manufactures electronics products including earphones and headphones, among others. The brand raised ₹6 crore from Fireside Ventures in May 2018.
short by Kanishka Pandey / 04:21 pm on 17 Jul
Snapdeal a proud exception in Indian e-commerce: CEO Bahl
short by Kanishka Pandey / on 17 Jul 2019,Wednesday
Snapdeal Co-founder and CEO Kunal Bahl claimed the e-commerce platform's consolidated revenue rose by 73% to ₹925 crore while loss fell 70% year-on-year to ₹186 crore. Over the last two years, Snapdeal's loss was reduced by 96%, he said. "This makes us the proud exception in Indian e-commerce, where greater growth usually means greater losses," Bahl added.
short by Kanishka Pandey / 10:30 am on 17 Jul
Ratan Tata-backed Teabox gets funding from NB Ventures, others
short by Kanishka Pandey / on 19 Jul 2019,Friday
Bengaluru-based premium tea-selling platform Teabox has raised undisclosed funding from Dubai-based NB Ventures, family office of Neelesh Bhatnagar, among others. Teabox has raised a total of $10 million as part of its Series A and B rounds from investors including Accel, JAFCO Asia and others. Ratan Tata, the Chairman Emeritus of Tata Sons, had backed Teabox in 2016.
short by Kanishka Pandey / 11:00 am on 19 Jul
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