ClearTax raises USD 12 million


New Delhi
ClearTax, an income tax returns e-filing website, today said it has raised USD 12 million in a funding round led by Ravi Adusumalli of SAIF Partners.

The Series A funding will be mainly utilised to build and launch new products, hire over 100 engineers and build its executive leadership team, ClearTax said in a statement.

ClearTax will be leveraging the capital raised to triple its overall team size to 300 employees by the end of the year.

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IBM launches new tools for developers

* Technology giant IBM today launched new tools for developers to help them sharpen their skills and advance their careers in areas like cloud and emerging technologies such as cognitive and Internet of Things (IoT).

These initiatives include collaborations with Coursera and GitHub, which aim to reach millions of developers globally, IBM said in a statement.

According to Evans Data Corp, the total global developer population will exceed 25 million by 2020, with India expected to become the world's largest developer ecosystem by 2018.

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HCL Tech partners LeasePlan

* IT services major HCL Technologies today said it has inked a pact with LeasePlan, a global fleet management and driver mobility company of Dutch origin.

Under the terms of agreement, HCL will create group competency in collaboration with LeasePlan Information Services to provide IT solutions in various domains like core leasing platforms, business intelligence and data warehousing solutions, enterprise IT solutions and application development and maintenance services, HCL said in a statement.

No financial details of the deal were disclosed.

HCL will manage and enhance some of the existing application suites, including core leasing platforms, development and roll-out of global IT programs and operations for LeasePlan, it said.
Housing.Com names Vivek Jain as Chief Product & Tech Officer

* Realty portal Housing.Com today said it has appointed Vivek Jain as Chief Product & Technology Officer.

Vivek, a former Google and Amazon Executive, is an industry veteran with over 14 years of experience in the technology and digital domains in India and the US, a company statement said.

His focus will be on strengthening the product and engineering aspects of the business to help steer Housing.Com towards its goal of becoming a full-service transaction player.

Founded in 2012,Housing.Comis a leading online real estate platformwith1.7 millionverified homes listed to date. It has raised over USD 100 million in capital from leading investors, including Softbank, Nexus Ventures, Falcon Edge and Helion Ventures.

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Strides Shasun Q1 net at Rs 26 cr

* Drug firm Strides Shasun today reported an over two-fold jump in consolidated net profit to Rs 26.04 crore for the quarter ended June 30.

The company had posted a net profit after taxes, minority interest and share of profit of associates of Rs 10.62 crore for the corresponding period of the previous fiscal, Strides Shasun said in a filing to BSE.

Consolidated total income from operations of the company stood at Rs 875.57 crore for the quarter under consideration. It was Rs 613.04 crore for the same period year ago.

Commenting on the results, Strides Shasun Executive Vice Chairman & MD Arun Kumar said: "Our regulated markets business and institutional business continue to track well and have delivered another strong quarterly performance."

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Prince Jewellery opens new showroom in Coimbatore * Leading jewellery maker, Prince Jewellery opened its maiden showroom -- sixth in the country -- in Coimbatore today.

Tamil actor Dhanush inaugurated the outlet, which extends across an area of 8,500 sq ft.

"The showroom will make it easier for the people in and around this fast growing neighbourhood to get the designs of their choice within easy distance," said Prince Jewellery founder Princeson Jose at the function.
Tata AIA Life launches three new products

* Tata AIA Life today announced launch of three solutions that guarantee a customer option to choose regular monthly income, among others.

The Sampoorna Raksha plan is a non-linked non-participating term assurance plan, Sampoorna Raksha+ is a non-linked, non-participating term assurance plan with return of premium on maturity, the company said in a statetment.

The third plan Vital Care Pro is a non-linked, non-participating health insurance plan to help the customers protect their families from financial dependency in case the earning member is no more or is rendered incapable by critical illness, it said.

All the three solutions guarantee a lump sum benefit with option to choose regular monthly income, ensuring one's loved ones would meet all their life goals without worrying on daily needs at any point, it added.

"Our well-trained sales force helps customer calculate actual coverage needed to live a financially secured future without compromising on their aspirations," Tata AIA Life Chief of Proprietary Channels Rishi Srivastava said.

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Religare Health Insurance launches new version of 'Care' * After receiving a good response for its health indemnity flagship product- CARE, Religare Health Insurance today announced launch of a new version of the product to its customers.

"Based on the overall feedback and an extensive in-house study with our customers, we have further strengthened the core proposition by also offering sum insured options of Rs 75 lakh," Religare Health Insurance Managing Director and Chief Executive Officer Anuj Gulati said.

"We have also added many new features like Unlimited Recharge of Sum Insured and Maternity Coverage for our customers. This holistic plan also covers certain alternative treatments like Ayurveda, Unani, Sidha and Homoeopathy," he said.

First Published: Jun 17 2016 | 8:14 PM IST

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