EarlySalary.Com raises $1.5 mn in seed funding

EarlySalary.Com today said it has raised USD 1.5 million (about Rs 10 crore) in seed capital from Transcorp Group Director Ashok Agarwal.
The amount raised will be used towards building a mobile app-based lending platform.
The venture has been co-founded by a three-member team comprising of Akshay Mehrotra, Ashish Goyal and Jay Jain.
**************
Fastudent raises seed funding from angel investors * Fastudent, an education e-commerce start-up, today said it has raised a round of seed investment from a group of marquee angel investors, led by Ashish Gupta, founder and Trustee at Ashoka University.
The Noida-based firm is an aggregator and offers products across categories like books and stationery, academic accessories, uniforms, games, sports, digital products and customized merchandise for institutes across India.

**************

Tata Comm, Formula One Management test live track-side feed * Tata Communications today said it has completed a proof of concept with Formula One Management for delivering a live trackside feed.
SKS Microfinance ties with IBM to transform operations
* SKS Microfinance has partnered with IBM to transform operations from paper-based processes to a mobile solution.
The end-to-end mobile solution will eliminate time-consuming and paper-based processes, and speed up the acquisition of new customers, the company said in a statement.
**************
Canara HSBC Oriental launches 'Smart Future Plan' for children * Canara HSBC Oriental Bank of Commerce Life Insurance today launched a new 'Smart Future Plan' that aims to secure children's future financial needs.

The key highlight of the plan is that it continues even in the unfortunate event of death or permanent disability of the Life Assured, thus ensuring that the immediate and future financial needs of the family are taken care, the private insurer said in a statement.
**************
Eros International to co-produce Hindi remake of 'Chef' * Entertainment firm Eros International today said it would be producing the Hindi remake of 2014 Hollywood hit "Chef", along with Abundantia Entertainment and Alumbra Entertainment.
India China Technology Transfer Centre to be set up
* An India China Technology Transfer Centre (ICTTC) will be set up to promote economic research, education and science and technology cooperation between the two countries.

The decision was taken at a Board meeting of the India China Trade Centre (ICTC) today, which was chaired by the Member of Parliament Rajeev Shukla.
"The Board has approved the opening of India China Technology Transfer Centre (ICTTC) for the promotion of Economic Research, Education and Science and Technology Cooperation between India and China," a statement said.
* * * * * * *
Xpress Money launches app for money transfer * Money transfer operator Xpress Money today said it has launched a new app which allows users to transfer money internationally over social networking channels like Facebook, Twitter, WhatsApp and WeChat.

The app, XOPO, will enable fast-growing mobile data users to access remittances from abroad conveniently at their fingertips, a company statement said.
Dharma Life Sciences to set shop in India
* Dharma Systems Inc, a New Hampshire-based software development company represented in India through its subsidiary Dharma Systems Pvt Ltd, has forayed into the niche personality development programme in the country.
An offshoot of the 25-year-old software company, Dharma Life Sciences is a thought leader engaged in personal development programmes for corporations, the company said in a statement.
The company's programme is structured to deliver Trait Skills Management Programme which helps employees, and eventually their organisations increase productivity and efficiency to achieve their goals, Dharma Life Sciences Founder and CEO J Sasidhar said.

*************
Satvacart plans to raise USD 2-mn fund
* Online grocery startup Satvacart today said it plans to raise USD 2 million as part of its expansion plans in Delhi-NCR.
The company has also claimed to have achieved unit level breakeven for its subscription and non-subscription business.
The development comes close on the heels of closure of Satvacart's rival Peppertap.
Adani Power raises Rs 1.2k cr through warrants allotment
* Adani Power Ltd has raised Rs 1,236.52 crore through issuance of 38 crore convertible warrants.
"The management committee of the Board of Directors at its meeting held on May 25, 2016 has issued and alloted 38,00,00,000 convertible warrants at a price of Rs 32.54 per warrant," Adani Power said in a BSE filing.

Convertibles are securities, usually bonds or preferred shares, that can be converted into common stock.
*******
Avasarala hands over 3,000th heat pipe to ISRO * Bengaluru-based Avasarala Technologies Ltd today announced handing over of the 3,000th heat pipe, a key component in aerospace applications, manufactured at its facility in Bommasandra to ISRO.
ISRO's Satellite Centre Director M Annadurai received the pipe, which were once imported before ISRO entrusted its development to Avasarala in 2001.
"We are extremely happy to receive Dr Annadurai to our facility and equally honoured to hand over our 3000th heat pipe to him endorsing our long standing association with Indian Space Research Organisation (ISRO)," Avasarala Technologies MD and CEO T T Mani said in a statement.

A dedicated facility was established at Bommasandra Industrial Area to meet the needs of ISRO, Mani said, adding since then his company has supplied 2,986 heat pipes to ISRO.
*******
Huawei sues Samsung over patent dispute * Chinese telecom firm Huawei has filed a lawsuit against Korean technology giant Samsung over a dispute related to 4G technology and smartphone functions.
As per Huawei, Samsung uses Huawei's patents worldwide to sells devices with the mentioned technologies, including in India.
"Huawei believes that it is entitled to reasonable compensation from firms that use its technology without obtaining a licence. Lawsuits are a legal means used to resolve patent disputes. We look forward to working with Samsung to find a better solution," Huawei said in a statement.

*******
VISIT raises seed funding from MapmyIndia * Healthcare provider VISIT has raised an undisclosed amount of seed funding from MapmyIndia, a marquee technology company based out of Delhi.
The startup plans on channelising this investment to further develop the technology being used in the app, the company said in a statement.
"With the new funding, we plan on investing heavily in improving our technology. We are also aiming at increasing the number of doctors on the app to 500 over the next three months," VISIT co-founder Vaibhav Singh said.