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Bill Gates' wealth hits $100 bn, becomes centibillionaire: Bloomberg
short by Pragya Swastik / on 20 Mar 2019,Wednesday
Microsoft Co-founder Bill Gates' wealth has hit the $100 billion mark, making him a centibillionaire and the only second person besides world's richest person, Amazon Founder Jeff Bezos, with $100 billion wealth, Bloomberg said on Wednesday. Amazon's 55-year-old Founder is now worth $145.6 billion after adding $20.7 billion to his wealth this year. Microsoft's 63-year-old Gates gained $9.5 billion.
short by Pragya Swastik / 02:15 pm on 20 Mar
Ola raises $300 million from Hyundai and Kia Motors
short by Pragya Swastik / on 19 Mar 2019,Tuesday
Homegrown ride-hailing startup Ola on Tuesday announced it has raised $300 million from Hyundai Motor Group's Hyundai Motor Company and Kia Motors in their biggest combined investment to date. The three companies will build India-specific electric vehicles and infrastructure. The investment is part of Ola's ongoing Series J round of funding, which is estimated at $1 billion.
short by Pragya Swastik / 12:22 pm on 19 Mar
Flipkart deploys 100 robots at B'luru delivery hub to sort packages
short by Pragya Swastik / on 20 Mar 2019,Wednesday
E-commerce major Flipkart has deployed over 100 Artificial Intelligence-powered robots to sort customers' packages according to their location at its Bengaluru delivery centre, claiming that it's "India's first robot-based sortation technology". The robots help process 4,500 shipments an hour at twice the human speed with 99.9% accuracy. The modular, self-charging robots can work for 7-8 hours on a single charge.
short by Pragya Swastik / 04:03 pm on 20 Mar
Aus Airbnb host who killed man over unpaid bill jailed for 11 yrs
short by Gaurav Shroff / on 19 Mar 2019,Tuesday
A 42-year-old Airbnb host on Tuesday was jailed for 11 years after he admitted to killing a guest who could not afford to pay a $210 bill at his home in Melbourne in October 2017. Jason Colton was convicted of instigating the attack, for which two of his housemates are already serving prison time.
short by Gaurav Shroff / 07:49 pm on 19 Mar
Sit on my lap if you're feeling hot: Uber driver tells Delhi woman
short by Daisy Mowke / on 20 Mar 2019,Wednesday
Delhi-based journalist Amrita Das on Tuesday accused an Uber driver of misbehaving with her and tweeted, "First he refused to turn on the air conditioner, then says 'If you're feeling hot...come and sit on my lap'". She added that this happened while she was with her husband. Responding to this, Uber Support wrote it was sorry over the incident.
short by Daisy Mowke / 09:40 am on 20 Mar
Put no pressure on ex-employee to retract complaint: WebEngage CEO
short by Pragya Swastik / on 19 Mar 2019,Tuesday
Mumbai-based startup WebEngage's Co-founder and CEO Avlesh Singh through a post on Monday responded to an ex-employee's allegation of being a "sexual predator". He said, "There was no coercion or pressure on her to take the complaint back." He further said that the ex-employee started demonstrating "passive-aggressive behaviour" towards him when he decided to end their consensual relationship.
short by Pragya Swastik / 02:21 pm on 19 Mar
Will get rid of Angel Tax if voted to power: Rahul Gandhi
short by Arundhati Rawat / on 19 Mar 2019,Tuesday
Congress President Rahul Gandhi, while addressing entrepreneurs in Bengaluru on Monday, said, "We're going to get rid of this tax (Angel Tax)...when we come to power". "I think Angel Tax goes counter to the philosophy of startups," he added. Last month, the government had announced a new definition of startups and widened the relief for Angel Tax.
short by Arundhati Rawat / 04:47 pm on 19 Mar
Serena joins Priyanka Chopra-backed Bumble's investment fund
short by Arundhati Rawat / on 21 Mar 2019,Thursday
Twenty-three time Grand Slam champion Serena Williams has said she'll serve as an investor in Priyanka Chopra Jonas-backed dating app Bumble's fund. Launched in 2018, Bumble Fund primarily backs startups founded and led by women of colour and underrepresented groups. "I've learned how impactful one woman's voice can be when given a platform to speak and be heard," Serena said.
short by Arundhati Rawat / 08:00 am on 21 Mar
I want to get on: Jeff Bezos after he experiences robot dragonfly
short by Arundhati Rawat / on 20 Mar 2019,Wednesday
World's richest person Jeff Bezos tweeted a video from a recent conference where he experienced a robot dragonfly, and captioned it, "[B]igger please, I want to get on!" Bezos credited the robot to German automation company Festo. Last year, Bezos had shared a picture of himself walking a robot dog, made by Boston Dynamics, at the annual conference.
short by Arundhati Rawat / 12:26 am on 20 Mar
Crowdfunding platform Kickstarter CEO Perry Chen steps down
short by Kanishka Pandey / on 20 Mar 2019,Wednesday
Global crowdfunding platform Kickstarter Co-founder Perry Chen has stepped down as the Chief Executive Officer (CEO) but will continue as the board Chairman. Chen had served as Kickstarter's CEO for the first five years and reassumed the role in 2017 for a then-planned duration of six months. Head of Design and Product Aziz Hasan has been promoted as interim CEO.
short by Kanishka Pandey / 05:03 pm on 20 Mar
Pine Labs to buy gift cards startup Qwikcilver for $110 mn
short by Arundhati Rawat / on 20 Mar 2019,Wednesday
Noida-based digital payments platform Pine Labs on Tuesday signed a definitive agreement to acquire gift cards-providing startup Qwikcilver Solutions for about $110 million. On completion of the deal, which is subject to a few closing conditions, Qwikcilver Co-founder and CEO Kumar Sudarsan will join Pine Labs' leadership team. Bengaluru-based Qwikcilver is backed by investors including Amazon.
short by Arundhati Rawat / 09:00 am on 20 Mar
Airbnb in talks to invest up to $200 million in OYO: Report
short by Kanishka Pandey / on 19 Mar 2019,Tuesday
US-based home rental startup Airbnb is reportedly in talks to invest around $100 million to $200 million in Gurugram-based budget hospitality startup OYO in a bid to enter hotel business in India and China. Launched in 2013 by Ritesh Agarwal, the $5-billion startup recently announced an investment of around $200 million in its India and South Asia businesses.
short by Kanishka Pandey / 03:01 pm on 19 Mar
Ola, Telangana sign MoU to improve Hyderabad traffic
short by Kanishka Pandey / on 19 Mar 2019,Tuesday
Bengaluru-based ride-hailing startup Ola has signed a Memorandum of Understanding (MoU) with the Telangana government to strengthen the traffic infrastructure of capital Hyderabad with smart solutions. Ola will share ride data and insights to help the government manage road traffic and congestion. The first pilot project under the MoU is the dynamic mapping of the major roads in Hyderabad.
short by Kanishka Pandey / 10:41 pm on 19 Mar
France's Doctolib gets $170M, becomes billion-dollar startup
short by Kanishka Pandey / on 20 Mar 2019,Wednesday
France-based doctor appointment-booking app Doctolib has turned into a 'unicorn' startup, with a valuation of over $1 billion after raising around $170 million in its latest funding round. The round was led by General Atlantic, with participation from Accel, Eurazeo and a few German healthcare entrepreneurs, among others. Founded in 2013, Doctolib has raised over $266 million till date.
short by Kanishka Pandey / 05:51 pm on 20 Mar
US exercise bike maker sued for $150mn over unlicensed music
short by Arundhati Rawat / on 20 Mar 2019,Wednesday
US-based connected exercise bike maker Peloton has been sued by a group of music publishers for $150 million for failing to license songs it plays in its streaming exercise classes. Peloton has been accused of using over 1,000 songs from artists including Rihanna, Lady Gaga and Justin Bieber without a licence. "Peloton has great respect for songwriters...artists," the startup said.
short by Arundhati Rawat / 09:51 pm on 20 Mar
Chinese camera maker Insta360 gets $30 mn, plans IPO in 2020
short by Arundhati Rawat / on 20 Mar 2019,Wednesday
China-based startup Insta360, which makes cameras that can film 360-degree videos, has raised $30 million in a funding round from Chinese investors including Everest Venture Capital, MG Holdings and Huajin Capital. Insta360 CEO JK Liu said that Insta360 is planning to file for an IPO in China next year. Founded in 2014, the GoPro rival has been profitable since 2017.
short by Arundhati Rawat / 09:57 pm on 20 Mar
Parenting social network Healofy raises $10 million: Report
short by Arundhati Rawat / on 20 Mar 2019,Wednesday
Parenting social network Healofy has reportedly raised $10 million in Series A funding round from investors including China-based parenting platform Babytree. The startup had raised $1 million last year from Omidyar Network, which was co-founded by eBay Founder Pierre Omidyar. The Bengaluru-based startup was founded by Gaurav Aggarwal and Shubham Maheshwari.
short by Arundhati Rawat / 06:33 pm on 20 Mar
US internet satellite startup OneWeb raises $1.25 billion
short by Kanishka Pandey / on 20 Mar 2019,Wednesday
US-based internet satellite startup OneWeb has raised $1.25 billion for mass production of satellites, weeks after successfully launching its first six of the initial 650 satellites. The funding round saw participation from investors including SoftBank, Grupo Salinas, Qualcomm and the Rwandan government. Founded in 2012, the startup aims to launch 900 satellites for global internet connectivity.
short by Kanishka Pandey / 08:00 am on 20 Mar
Govt asks startups to share office location, pics, weather
short by Kanishka Pandey / on 19 Mar 2019,Tuesday
Startups have to share the location by latitude and longitude, weather, and inside and outside pictures of their registered office with the government to verify they are genuine ones. The government also laid out detailed process on how to click and upload the pictures. The rules are applicable to all startups registered before December 2017.
short by Kanishka Pandey / 06:39 pm on 19 Mar
Musk never sought approval for Tesla tweets despite court order: SEC
short by Arundhati Rawat / on 19 Mar 2019,Tuesday
The US SEC has said Elon Musk never sought pre-approval for a single Tesla tweet since he was ordered by a court to do so. Musk and Tesla had reached a settlement with SEC last year over his tweet about taking Tesla private. Recently, SEC asked that Musk be held in contempt for violating settlement by tweeting Tesla's production rates.
short by Arundhati Rawat / 09:14 pm on 19 Mar
SpaceX tests the heat shields of its Starship at 1377°C
short by Arundhati Rawat / on 18 Mar 2019,Monday
Elon Musk has tweeted a video of a test conducted on SpaceX's Starship space rocket's heat shields. Musk tweeted that the white-hot parts, seen in the video, reached temperatures of around 1377°C, similar to orbital entry temperatures. He added the tiles of the shields were hexagonal-shaped as that gives "no straight path for hot gas to accelerate through the gaps".
short by Arundhati Rawat / 09:23 pm on 18 Mar
Fantasy sports startup HalaPlay raises ₹40 cr from Nazara, Delta
short by Arundhati Rawat / on 19 Mar 2019,Tuesday
Daily fantasy sports startup HalaPlay has raised ₹40 crore in a Series A funding round from investors including mobile gaming company Nazara Technologies and casino gaming company Delta. In 2017, HalaPlay had raised an undisclosed amount of funding from Nazara Technologies and Kae Capital. HalaPlay was founded by BITS Pilani alumni Swapnil Saurav, Prateek Anand, Ananya Singhal and Aman Kesari.
short by Arundhati Rawat / 03:11 pm on 19 Mar
NY's alcohol e-commerce startup Thirstie raises $7 million
short by Arundhati Rawat / on 20 Mar 2019,Wednesday
New York-based alcohol e-commerce startup Thirstie has raised $7 million in a Series A funding round led by Queens Court Capital. It also announced its partnership with Drinkworks to power e-commerce experience for the cocktail-making machine created by Keurig and Budweiser's parent. Co-founded by Devaraj Southworth, Thirstie enables e-commerce on alcohol brand websites in a legally compliant way.
short by Arundhati Rawat / 03:36 pm on 20 Mar
Cross-border payments startup InstaReM closes $41 mn funding
short by Kanishka Pandey / on 20 Mar 2019,Wednesday
Singapore-based cross-border payments startup InstaReM has closed its Series C funding round after raising $20 million, taking the total to around $41 million. The round was led by Vertex Growth Fund with participation from South Korea-based VC firm Atinum Investment. Founded in 2014 by Indian entrepreneur Prajit Nanu along with Michael Bermingham, InstaReM has raised around $59 million till date.
short by Kanishka Pandey / 03:07 pm on 20 Mar
Diabetes management app BeatO raises ₹11 crore led by Orios
short by Arundhati Rawat / on 20 Mar 2019,Wednesday
Delhi-based diabetes management app BeatO has raised over ₹11 crore in a pre-Series A funding round led by Orios Venture Partners. The funding round also saw participation from existing investors Blume Ventures and Leo Capital. Founded in 2015 by Gautam Chopra, Yash Sehgal and Abhishek Kumar, BeatO offers diabetes management programmes to users via a smartphone app.
short by Arundhati Rawat / 08:52 pm on 20 Mar
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