Exclusive: Bike taxi app NOW raises $200K in angel funding

NOW2Bike taxi and grocery delivery app NOW has raised $200,000 (Rs 1.34 crore) in angel funding from Jaipuria Group MD Ruchirans Jaipuria and Supreme Motors’ director Anuj Sanghi. In addition, Jaipuria and Sanghi have committed to collectively invest $500,000 (Rs 3.35 crore) more in NOW. “The ability of the team to demonstrate scalability and the idea that […]

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Rata Tata backs home rental marketplace Nestaway

NestawayTata Sons’ chairman emeritus Ratan Tata has invested an undisclosed amount in Bangalore-based Nestaway Technologies Pvt Ltd, a startup that runs a managed home rental marketplace by the same name. NestAway was founded by Amarendra Sahu, Smruti Parida, Deepak Dhar and Jitendra Jagadev in January 2015. It turns ‘for-rent’ apartments into fully-furnished and managed houses […]

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Exclusive: Yet-to-launch instant messaging app Tring gets angel funding

Arun UdayTring, a yet-to-launch instant messaging app, has raised an undisclosed amount in funding from ValueFirst founder Vishwadeep Bajaj and other angel investors. Alok Gupta (MD of Gerken Capital Associates) and Ranganathan V (MD of DNA Technology Consulting) also put money in this round, Tring co-founder Arun Uday told Techcircle.in. Run by Mainfolde Technologies Pvt Ltd, […]

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OYO buys Zo, Zostel in all-stock deal; Zo founders quit

oyo_feIt’s official. Budget hotel aggregator OYO Rooms has acquired Tiger Global-backed smaller rival Zo Rooms, OYO’s lead investor SoftBank said in an earnings presentation. A formal announcement is expected in the next two weeks, a person directly involved in the transaction told Techcircle.in. Spokespersons for OYO and Zo did not respond to an email query till the time […]

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When a top Silicon Valley VC (and Facebook director) touched a raw nerve on India

Marc-AndreessenLeading venture capitalist Marc Andreessen fueled a Twitter storm today by equating India’s recent decision to ban service such as Facebook’s Free Basics with the benefits of colonialism. “Anti-colonialism has been economically catastrophic for the Indian people for decades. Why stop now,” Andreessen, who also sits on Facebook’s board, said in response to chain of […]

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Speed hiring portal Hiree.com cuts 11% of workforce

hiree_feIDG Ventures-backed Abhiman Technologies Pvt Ltd, which runs speed hiring portal Hiree.com (formerly myNoticePeriod.com), has laid off around 11 per cent of its employee base. Speaking to Techcircle.in, Hiree.com CEO Manjunath Talwar said that 10 roles were made redundant as the company wanted to ‘optimise efficiencies and better streamline execution’. Before the job cuts, Hiree.com […]

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Zomato’s learning from 2015: Don’t scale too fast, always focus on revenue

ZomatoZomato’s quick expansion last year meant that the food tech venture had more rivals to worry about and diminished its focus on operational revenue. “We scaled massively in 2015…We were rapidly launching operations in new geographies and setting up new businesses. Suddenly, having that many new competitors in new markets meant everything had to become […]

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Mahindra Comviva buys majority stake in ATS to up Latin America play

Mahindra-ComvivaMobility solutions firm Mahindra Comviva has acquired a controlling stake in Advanced Technology Solutions (ATS), an Argentina-based mobile VAS company, for an undisclosed amount. This acquisition adds customers such as AT&T, Claro, Entel, Nextel, Oi, Telefonica, TIM and Viivo besides others to Mahindra Comviva’s portfolio, the company said in a press statement. With this transaction, Mahindra Comviva, a unit […]

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