Page 285 - Start Ups
GrabTaxi raises $400 mn in a round led by China's sovereign wealth fund
Besides GrabTaxi, sovereign wealth fund, China Investment Corp (CIC) has also backed China-based Didi Kuaidi
 "GrabTaxi raises $400 mn in a round led by China's sovereign wealth fund")
E-grocers up the ante as BigBasket raises $50 million
The round was led by Bessemer Ventures with participation from all other existing investors
 "E-grocers up the ante as BigBasket raises $50 million")
Politically motivated groups threaten to shut Uber in Mumbai
The groups, including the Mumbai Autorickshaw-Taximen's Union (MAU), have resorted to violence; assaulting drivers, damaging cars, and stealing equipment, reports Tech in Asia
 "Politically motivated groups threaten to shut Uber in Mumbai")
Pakistani start-up Markhor accepted by Y Combinator
This is the first Pakistani start-up to be granted admission into the prestigious start-up accelerator, reports Tech in Asia
 "Pakistani start-up Markhor accepted by Y Combinator")
How Townista is changing the way people spend their leisure time
Townista helps users reduce their search time for events and activities from 40 minutes to seven minutes, reports Tech in Asia
Mutual funds start-up Scripbox raises Rs 16 crore in Series-A funding
The mutual funds start-up received the funding from Accel Partners and a group of angel investors and they plan to utilise this funding to further consolidate its presence and expand its customer base
 "Mutual funds start-up Scripbox raises Rs 16 crore in Series-A funding")
Law firms, consultancies jump on the start-up bandwagon
EY plans to ramp up its global accelerating entrepreneurship progamme in India in the coming months
 "Law firms, consultancies jump on the start-up bandwagon")
 "IITs to filter start-ups before placements")
OneAssist raises series B funding from Sequoia, Lightspeed and Assurant invest
Funding will be used by OneAssist to expand and deepen its distribution particularly in the online and digital areas
 "OneAssist raises series B funding from Sequoia, Lightspeed and Assurant invest")
Four-month-old start-up WudStay acquires its two-year old rival
What makes WudStay stand out is its superfast trajectory, reports Tech in Asia
 "Four-month-old start-up WudStay acquires its two-year old rival")
CCube, Frontline acquire minority stake in Wetravelsolo.com
Wetravelsolo focuses on combining online and real time travelling at pocket-friendly prices
 "CCube, Frontline acquire minority stake in Wetravelsolo.com")
Livspace raises $8 million from Helion, Bessemer, Jungle Ventures
Round also saw investments from prominent angels, including Gokul Rajaram
 "Livspace raises $8 million from Helion, Bessemer, Jungle Ventures")
Indian Angel Network invests in Wow! Momo
Wow! Momo plans to open 60 more outlets in the next two years
 "Indian Angel Network invests in Wow! Momo")
Facebook spends $20 mn worth benefits to groom Indian app developers through FbStart
Of 5k developers on FbStart, 1k from Asia Pacific and 40% from India
 "Facebook spends $20 mn worth benefits to groom Indian app developers through FbStart")
This Bengaluru-based start-up is everyman's Apple Pay
ToneTag's software uses sound waves to bring the same convenience of contactless payments to any mobile device, even old brick phones, reports Tech in Asia
 "This Bengaluru-based start-up is everyman's Apple Pay")
Chinese smartphone brands are exploding in India: IDC Report
Data from IDC shows that among Chinese smartphone brands, Lenovo leads in India, not Xiaomi, reports Tech in Asia
 "Chinese smartphone brands are exploding in India: IDC Report")
Chinese investors explore India startups, eye mobile first economy
India is expected to add over 35 mn smartphone subscribers a year to its 160 mn user base over the next three years
 "Chinese investors explore India startups, eye mobile first economy")
Tiger, Blume pump $30 mn in Grey Orange Robotics
The startup has more than 300 employees and claims a 90% market share of India's warehouse automation market
 "Tiger, Blume pump $30 mn in Grey Orange Robotics")
Offline payments enabler ToneTag raises $1 mn from Reliance Capital
Firm's patented solution allows consumers to pay for goods and services using a technology based on radio or sound waves
 "Offline payments enabler ToneTag raises $1 mn from Reliance Capital")