Tech startup Bodega drew outrage from the social media community Wednesday for appearing to go after the business of small corner stores. The startup wants to install — basically everywhere — pantry boxes unlocked with a smartphone and filled with necessary items. Whatever is removed will be automatically charged to the credit card associated with the…
Silicon Valley venture firm Social Capital just completed the first step in its mission to take startups public without an IPO. The team has listed something called a special purchase acquisition company, known as a SPAC. More common outside of the tech industry, these blank-check companies are specifically designed to buy private companies and bring…
Bengaluru: Paytm, run by One97 Communications Pvt. Ltd is seeking a licence from the Reserve Bank of India (RBI) to set up a money market fund where users can store cash and earn interest, in competition with banks, according to a person familiar with the matter. Paytm has applied to RBI to start the fund…
The Union Cabinet is likely to set up a Rs 2,000-crore credit guarantee fund by July-end with a view to provide funding facilities to startups as per the report by India Today. The secretary of the department of industrial policy and promotion (DIPP), Ramesh Abhishek, said the fund would be used to lend to startups…
Indian top Cab aggregator Ola has reportedly picked up about $50 Mn funding from hedge fund Tekne Capital Management, as an extension of its ongoing round. The New York-based investment firm has infused less than $50 million in the company as part of its ongoing round, which has also seen participation from Ratan Tata’s venture…
A section of drivers for Ola and Uber are on protest again on Tuesday in the Delhi NCR region. The Sarvodaya Driver Association of Delhi and the Rajdhani Tourist Drivers Union claimed that more than 1 lakh drivers would strike protesting for a single day against the low earnings because of the companies policies, as…
Alibaba Groups flagship entertainment arm, Alibaba Pictures Group Limited, has acquired a majority stake in India’s second-largest online ticketing platform, TicketNew. Marking Alibaba Pictures first big acquisition in the burgeoning online ticketing industry outside of China, this strategic partnership will strengthen TicketNews operations and service portfolio. Founded in 2007 by Ramkumar Nammalvar, TicketNew is a…
BENGALURU: Taxi-hailing companies such as Ola and Uber are turning out to be a boon for the Indian Railways, snapping up parking spaces at railway stations in various cities at rates far higher than those paid by contractors and other taxi operators. In a recently concluded deal for the stations in Bengaluru division, the railways…
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…
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…