Bengaluru prime destination for IoT start-ups in India, study says

Bengaluru: Bengaluru has emerged as the prime destination for IoT (Internet of Things) start-ups to set up base, as it accounts for 52% of the total IoT start-ups in India, a study by management consulting firm Zinnov said. Bengaluru is followed by Delhi NCR with 12%, Mumbai 11%, Hyderabad 4%, Chennai 2%, and others together accounting for 19%. “A wide…

Six Indian startups shortlisted for Google’s 4th Launchpad Accelerator

Six Indian startups shortlisted for Google’s 4th Launchpad Accelerator Eustan ventures

Google has announced the fourth installment of its Launchpad Accelerator Program and this time, the focus is on Artificial Intelligence (AI) that has been the company’s buzzword lately. Six Indian startups have been shortlisted for the six-month program that kicks off in July. India has recorded the most number of startups selected this year, followed by Brazil (4), Nigeria (4)…

Narayana Murthy-backed Coverfox eyes General Insurance foray

Infosys founder NR Narayana Murthy-promoted Coverfox has filed an application to float a general insurance company to foray into Rs 1 lakh crore industry as Acko General Insurance. Acko was registered with the registrar of companies on November 3, 2016 with an authorised capital of Rs 5 crore and paid up capital of Rs 5 crore. Varun Dua, Ruchi Deepak…

Fashion portal Fynd raises $500K from Silicon Valley-based Rocketship

Online fashion marketplace Fynd, run by Shopsense Technologies Pvt. Ltd, has raised $500,000 in follow-on Series A funding from Silicon Valley-based venture capital fund Rocketship, a company statement said. The funding is an extension of the Series A round in March, wherein the company raised $500,000 from seed investment platform Venture Catalysts. In January, VCCircle exclusively reported that Fynd had…

SILK Ventures raises $500m fund for Tech Scaleups

SILK Ventures raises $500m fund for tech scaleups - Eustan Ventures

UK-based SILK Ventures has raised a $500m fund to invest in tech companies in Europe and the US. The fund will provide investment to firms from Series A upwards in all tech verticals, but will have a key focus on those specialising in deep tech (AI, Robotics, Internet of Things) FinTech, deep science and HealthTech. Some 50% of the fund…

Stellaris’ maiden fund ventures out with $10 million from IFC

Stellaris' maiden fund ventures out with $10 million from IFC

International Finance Corporation (IFC), the private-investment arm of World Bank, is making an equity investment of $10 million in Stellaris Venture Partners' maiden fund, it announced in a disclosure. This is the third funding commitment by IFC in an India-focused VC fund this year. The commitment comes a few months after Stellaris, which was started by former top executives at…

Karnataka govt grants $1.5 mn to 26 biotech startups

The Karnataka government, as part of its startup initiative, has awarded Rs 10 crore ($1.5 million) in grants to 26 biotechnology startups, a statement by the Department of IT (information technology), BT (biotechnology) and Tourism stated. The government disbursed the grants to the startups under its Idea to Proof of Concept (Idea2POC) Grant Scheme, which is part of the broader…

Vodafone India looks to sell Rs 1,200 Crore Navi Mumbai data centre

Vodafone India has sought bids for its data centre facility in Navi Mumbai, a suburb of India’s financial capital, said two people familiar with details. Currently, two strategic companies are interested in buying it out but at cost for Vodafone, said one of them. The data centre has been built at a cost of Rs 1,200 crore and was commissioned…

BPL scraps partnership with Flipkart, moves to Amazon

Bengaluru: Consumer electronics brand BPL, which was the TV brand of choice for millions of urban Indian households in the 1990s, has scrapped its three-year partnership with online marketplace Flipkart, and has instead inked a deal with Amazon India to sell TVs, air-conditioners, washing machines and other large appliances. BPL executives were unhappy with the lack of visibility for their…

Uber brings food delivery app UberEATS to India, launches service in Mumbai

Cab-hailing service Uber on Tuesday launched its food delivery app UberEATS in Mumbai, marking its entry into the Indian market. Delivering food to consumers under a different brand name, cab-hailing service Uber on Tuesday launched UberEATS in India, with Mumbai being the first city where the service will go live. "The introduction of UberEATS in India, with Mumbai as the…

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