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OYO raising $200 million to buy luxury hotels in US: Report
short by Kanishka Pandey / on 18 Sep 2019,Wednesday
OYO is reportedly in talks with several financial institutions to raise $200 million to buy premium and luxury hotels in America. "OYO is going to create a separate entity in the US to help it acquire and run four and five-star hotel assets," Livemint quoted its sources. OYO recently acquired Las Vegas' Hooters Casino Hotel for a reported $135 million.
short by Kanishka Pandey / 01:33 pm on 18 Sep
Zoomcar raises over ₹14 crore from US-based parent
short by Kanishka Pandey / on 18 Sep 2019,Wednesday
Bengaluru-based car-rental startup Zoomcar has raised over ₹14 crore from its US-based parent entity. This comes around two months after the startup raised nearly ₹78 crore in a mix of equity and debt funding from its parent and Trifecta Capital, among others. In April, Zoomcar had confirmed it was seeking $500 million in equity and structured debt funding.
short by Kanishka Pandey / 11:17 am on 18 Sep
'Pedo guy' common insult when I was growing up: Elon Musk to court
short by Kanishka Pandey / on 17 Sep 2019,Tuesday
Founder of Tesla and SpaceX Elon Musk argued in court that his tweet calling British diver Vernon Unsworth a 'pedo guy' was meant to be an insult and not an accusation. "Pedo guy was a common insult used in South Africa when I was growing up," Musk argued. Unsworth had helped rescue 12 boys from a Thai cave last year.
short by Kanishka Pandey / 11:50 am on 17 Sep
OYO misused tech, falsified bookings: B'luru hoteliers' association
short by Kanishka Pandey / on 17 Sep 2019,Tuesday
Bengaluru-based Bruhat Bangalore Hotels Association contacted the Bengaluru police commissioner to conduct an investigation into alleged unfair business practices by OYO. The association accused OYO of misusing its technology to falsify booking data. OYO Founder and CEO Ritesh Agarwal and two other company representatives were also recently booked over criminal breach of trust in Bengaluru.
short by Kanishka Pandey / 03:46 pm on 17 Sep
Hyundai, Kia Motors to acquire minority stake in Ola Electric
short by Kanishka Pandey / on 17 Sep 2019,Tuesday
Hyundai and Kia Motors are finalising an agreement to acquire a minority stake in Ola Electric Mobility, regulatory filings revealed. This comes around six months after the two entities concluded a $300-million investment into the ride-hailing giant's electric mobility business arm. Ola Electric Mobility had reportedly turned into a unicorn after a $250-million investment by SoftBank in July.
short by Kanishka Pandey / 10:58 am on 17 Sep
Ola, Lenskart, others seek relaxed IPO listing norms: Report
short by Kanishka Pandey / on 18 Sep 2019,Wednesday
Several prominent startups including Ola, Lenskart and PolicyBazaar are reportedly in the process of submitting a petition to the Securities and Exchange Board of India (SEBI) over the regulations for listing publicly. The startups reportedly want the rule for minimum promoter holding requirement of 20% to be either be removed or be considered on a case-to-case basis.
short by Kanishka Pandey / 01:14 pm on 18 Sep
Amazon's new Hyderabad office has 12 theme-based floors, cricket area
short by Pragya Swastik / on 18 Sep 2019,Wednesday
Amazon's world's largest campus opened in Hyderabad last month has 12 floors, each with a separate theme, with one of the floors having 'Bollywood' theme. The building has numerous 'work points' where employees can sit, in a group or solo, and work with their laptops. There are billiard tables, yoga rooms, and areas dedicated to cricket and wall climbing.
short by Pragya Swastik / 09:40 pm on 18 Sep
KhataBook may raise up to $85 million from Tencent, GGV
short by Kanishka Pandey / on 17 Sep 2019,Tuesday
Mumbai-based fintech startup KhataBook is in advanced talks to raise up to $85 million, where Chinese gaming giant Tencent may invest $70-75 million, Entrackr reported. The rest $5-10 million will come from GGV Capital, as per Entrackr's sources. KhataBook has raised a $20-million Series A round from DST Partners Fund, Ribbit Capital along with 20 angel investors, the sources added.
short by Kanishka Pandey / 09:25 am on 17 Sep
WeWork may halt IPO over investors' valuation, governance concerns
short by Kanishka Pandey / on 17 Sep 2019,Tuesday
Co-working space giant WeWork is expected to halt its Initial Public Offering (IPO), The Wall Street Journal reported. Investors reportedly raised questions on how much the company is worth and raised concerns about its corporate governance. Past reports had claimed that WeWork, last valued at about $47 billion in January, could seek a valuation as low as $15-18 billion.
short by Kanishka Pandey / 02:47 pm on 17 Sep
China halts sale of JUUL products a week after launch: Bloomberg
short by Kanishka Pandey / on 18 Sep 2019,Wednesday
China has abruptly halted both offline and online sale of e-cigarette startup JUUL's products a week after its launch, Bloomberg reported. JUUL was reportedly not told why its e-cigarettes and nicotine pods were removed from the stores. JUUL responded by saying that it remains steadfast in its commitment to provide China with a viable alternative to combustible cigarettes.
short by Kanishka Pandey / 04:56 pm on 18 Sep
Ex-secy said she stole data to extort ₹10cr from Paytm CEO: Chargesheet
short by Kanishka Pandey / on 17 Sep 2019,Tuesday
Paytm Founder and CEO Vijay Shekhar Sharma's former secretary Sonia Dhawan, accused in CEO extortion case, had accepted the allegations against her, as per police chargesheet. Dhawan confessed to stealing Paytm's data with her accomplices for over two years with the intention of extorting ₹10 crore from Vijay. "I've made a mistake, please forgive me," she had further said.
short by Kanishka Pandey / 05:45 pm on 17 Sep
Edtech unicorn Byju's issues ₹4-crore warrants to Times Group
short by Kanishka Pandey / on 18 Sep 2019,Wednesday
Bengaluru-based edtech unicorn Byju's has issued fresh warrants to Times Group worth nearly ₹4 crore in total, regulatory filings revealed. Prior to this, Times Group held 5 equity shares and 5 warrants, Inc42 revealed. Byju's was started in 2008 by Byju Raveendran as an offline teaching centre and has raised nearly $970 million to date, as per Crunchbase.
short by Kanishka Pandey / 03:19 pm on 18 Sep
Sexual harassment case against angel investor Mahesh Murthy quashed
short by Pragya Swastik / on 18 Sep 2019,Wednesday
Bombay High Court quashed a sexual harassment case against angel investor Mahesh Murthy and said that the delay in filing the case 14 years later is not "properly explained". The Bandra Police had registered the case against Murthy in March 2018 on a woman's complaint. She alleged that in 2004, Murthy touched her inappropriately and kissed her against her will.
short by Pragya Swastik / 09:36 pm on 18 Sep
Lingerie startup Zivame gets ₹20 crore from Zodius, Avendus
short by Kanishka Pandey / on 18 Sep 2019,Wednesday
Bengaluru-based online lingerie retailer Zivame has raised around ₹20 crore in an equity funding round from existing investors Zodius Capital and Avendus Capital. It raised ₹60 crore in a bridge Series C funding round in March. Founded by Richa Kar and Kapil Karekar, Zivame started as a lingerie-brand aggregator and later pivoted to a private label business in 2016.
short by Kanishka Pandey / 10:16 am on 18 Sep
Paytm Money raises ₹40 crore from parent firm One97
short by Kanishka Pandey / on 18 Sep 2019,Wednesday
Paytm Money has raised ₹40 crore from its parent entity One97 Communications, regulatory filings revealed. This comes around two months after One97 had announced to put an additional ₹250 crore investment in Paytm Money in the next 12-18 months. Paytm Money is looking to step into new verticals like stock trading and NPS within this financial year.
short by Kanishka Pandey / 11:41 am on 18 Sep
OYO Founder's $1.5 billion share buyback gets CCI approval
short by Kanishka Pandey / on 17 Sep 2019,Tuesday
Budget hospitality startup OYO's Founder Ritesh Agarwal has secured the approval for a $1.5-billion share buyback plan from the Competition Commission of India (CCI). Agarwal is purchasing a $1.5-billion stake from early OYO investors Lightspeed Venture Partners and Sequoia India and is receiving a $2-billion loan from three Japanese lenders. He will invest the rest $500 million in the startup.
short by Kanishka Pandey / 12:29 pm on 17 Sep
Several B'luru Zomato delivery execs suspended after protest on pay
short by Pragya Swastik / on 18 Sep 2019,Wednesday
Several Zomato delivery partners in Bengaluru protesting over the new payment structure were suspended from the platform. They allege that a few of those whom the company has identified as organisers of the protest are being targeted. "Certain delivery partners (0.1% of Bengaluru fleet) found instigating and hindering services for other partners have been temporarily suspended," Zomato said.
short by Pragya Swastik / 06:08 pm on 18 Sep
IIT Mandi to disburse over ₹10 cr in startups in 5 years
short by Anushka Dixit / on 18 Sep 2019,Wednesday
Indian Institute of Technology (IIT) Mandi announced at its flagship event, Himalayan Startup Trek (HST), that it will disburse ₹10 crore to startups in the next 5 years through its Catalyst programme. The HST event, which was held this month, saw applications from over 270 teams, of which IIT Mandi Catalyst picked 25 innovative ideas to join the incubation programme.
short by Anushka Dixit / 09:55 pm on 18 Sep
Meddo raises $3 mn in pre-Series A funding led by SRI Capital
short by Anushka Dixit / on 17 Sep 2019,Tuesday
Healthcare startup Meddo Health, started by former Foodpanda CEO Saurabh Kochhar, has raised $3 million in a pre-Series A funding round led by SRI Capital. The round also saw participation from growX Ventures, LetsVenture, Venture Gurukool and Citrus Payment Founder Jitendra Gupta, among others. Founded in 2018, Meddo claims to have tie-ups with more than 400 doctors and 200 clinics.
short by Anushka Dixit / 09:48 pm on 17 Sep
Logistics firm Blowhorn raises funds from Chiratae Ventures, others
short by Anushka Dixit / on 17 Sep 2019,Tuesday
Logistics provider Blowhorn has raised an undisclosed amount in a round of funding from existing investors Chiratae Ventures and Dell Foundation. New investors Venture Catalysts, James Lee Sorenson and Japanese VC firm, Dream Incubator, also participated in the round. Blowhorn had raised over ₹25 crore in Series A funding from Chiratae Ventures along with other investors in 2017.
short by Anushka Dixit / 07:47 pm on 17 Sep
Syntizen raises pre-Series A funding from Mastercard, ACPL
short by Anushka Dixit / on 17 Sep 2019,Tuesday
Digital identity solutions provider Syntizen Technologies has raised an undisclosed amount in a pre-Series A funding round from Mastercard and biometric solutions provider ACPL. The startup was founded by Siddharth Kukatlapalli, Vamsi Kotte and Dinesh Desu in 2014. It has clients like Muthoot Fincorp, Manappuram Finance, Shriram Housing, Angel Broking, Videocon Telecommunications, etc.
short by Anushka Dixit / 05:23 pm on 17 Sep
Instagram influencer Dan Bilzerian invests in LivePools
short by Anushka Dixit / on 18 Sep 2019,Wednesday
Online fantasy gaming startup LivePools has raised an undisclosed amount of funding from Instagram influencer Dan Bilzerian, marking his financial entry in India. Bilzerian, who came to India last week, said he had been monitoring the market for a while. Founded in 2017, LivePools is backed by Bollywood actor Dino Morea and claims to have over one million registered users.
short by Anushka Dixit / 05:06 pm on 18 Sep
Nazara invests ₹7.5 crore in 'Qunami' creator Sports Unity
short by Anushka Dixit / on 18 Sep 2019,Wednesday
Global online gaming giant Nazara Technologies has invested ₹7.5 crore in Sports Unity, acquiring majority stake in the startup. The round also saw participation from Delhi-based lawyer Vaibhav Gaggar. In August, Nazara invested ₹44 crore for a 67% stake in sports media platform Sportskeeda. Founded in 2016, Sports Unity is the creator of India's number one quizzing mobile game 'Qunami'.
short by Anushka Dixit / 11:06 pm on 18 Sep
PlusPin Healthcare raises ₹5.25 cr from IAN investors
short by Anushka Dixit / on 16 Sep 2019,Monday
PlusPin Healthcare has raised ₹5.25 crore in seed funding round led by Indian Angel Network (IAN) including ex-Google India head Rajan Anandan, who joined Sequoia Capital India as MD this year. Sanjay Jesrani, Dr Vinayender Tulla and Dr Kiran Peddi were among the other IAN investors who participated in the round. Founded in 2016, PlusPin offers customers personalised healthcare services.
short by Anushka Dixit / 11:08 pm on 16 Sep
Cred raises $9.5 mn in Series B funding from General Catalyst
short by Anushka Dixit / on 17 Sep 2019,Tuesday
Credit card bill payment app Cred has raised about $9.5 million in Series B funding round from US-based venture capital fund General Catalyst. In July, Cred had raised $120 million in the same round led by fintech fund Tiger Global, Ribbit Capital, Gemini Investments, existing investor Sequoia Capital, etc. Following that round, its valuation rose to $450 million.
short by Anushka Dixit / 10:54 pm on 17 Sep
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