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…
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…
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.…
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…
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…
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…
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…
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…
If reports in a US-based news and information company AXIOS Media are to be believed, Ivanka Trump, the daughter of US President is starting a new investment fund aimed at companies founded by women entrepreneurs around the globe. It is reported that the World Bank has been approached for managing the fund and it will…
In recent years, the Domestic Venture Capital market has considerably changed. Whole credit of this positive transformation in the capital market goes to the overseas cash inflow. Last Year, Manish Singhal, a venture capitalist was searching for means to increase the funds for his first venture. It was at that time, he thought that he…