Flipkart raises $1 bn in down round: Report

VCCircle_Flipkart8Bengaluru-based e-commerce behemoth Flipkart Online Services Pvt Ltd has reportedly raised $1 billion in a massive fundraising round. The firm will also secure an additional $1 billion in the next few months, a report by Bloomberg stated citing people aware of the development. The funds were secured at a down round that valued the company […]

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Exclusive: GrabOnRent close to raising Series A round

Bangalore-based GrabOnRent Internet Pvt. Ltd, which runs product rental marketplace GrabOnRent, is close to raising $3 million (Rs 19.5 crore) in Series A funding from new and existing investors, two persons familiar with the matter said. Existing investors IvyCap Ventures and Unicorn India Ventures will also participate in the round, the people cited above added. […]

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Exclusive: Amazon elevates India head Amit Agarwal

For-Amazon-Amit-Agarwal-Story-TC_ThinkstockPhotos-1809439971US-based Amazon.com, Inc. has elevated India chief Amit Agarwal to senior vice president (SVP), making him one of the few SVPs at the e-tailing giant globally, a person familiar with the development told VCCircle. The meatier role is a likely reward for Agarwal’s successful efforts in building the India business organically despite the presence of […]

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Stayzilla’s Vasupal files bail plea; startup world rallies behind him

Jai-arrest_ThinkstockPhotos-1Chennai-based homestay aggregator Stayzilla’s co-founder and chief executive Yogendra Vasupal, who was arrested on charges of defrauding a vendor, has filed for bail before Chennai’s Special Metropolitan Magistrate. Vasupal is currently at Chennai’s Puzhal Central Prison. Vasupal was arrested by the Chennai police on Tuesday, after Jigsaw Advertising filed a criminal complaint against him alleging […]

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Stayzilla co-founder Vasupal arrested; wife alleges harassment by vendor

Stayzilla’s co-founder Yogendra VasupalYogendra Vasupal, the co-founder and chief executive of Chennai-based homestay booking startup Stayzilla, has been arrested by the police on allegations of non-payment of dues by an advertising agency the company worked with. The development comes barely weeks after Stayzilla shut down its operations last month. Vasupal’s wife and Stayzilla co-founder Rupal Yogendra told VCCircle […]

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Exclusive: Existing investor Blume Ventures criticises BHIVE co-founder over funding controversy

Karthik Reddy, co-founder and managing director of early-stage venture capital firm Blume Ventures, has questioned Shesh Rao Paplikar, co-founder and chief executive of coworking space startup BHIVE, for going public over a funding controversy involving a well-known VC firm. Blume Ventures is an existing investor in BHIVE. “In my opinion, the founder overreacted. I have […]

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BHIVE funding fiasco – Are there any lessons for startup entrepreneurs?

Shesh-Rao-Paplikar_FEThe road outside the BHIVE Workspace office was teeming with cricket fans at around 4 pm on 7 March as they waited excitedly for the return of the Indian team to The Ritz-Carlton Hotel, where it was staying, after a win against Australia in a test match. The mood inside the BHIVE office was in […]

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Will never chase growth over unit economics ever again: Stayzilla’s Vasupal

Yogendra-Vasupal_feYogendra Vasupal co-founded online homestay aggregator Stayzilla along with Sachit Sanghi in 2005. Stayzilla, operated by Chennai-based Inasra Technologies Pvt. Ltd, catered to both budget customers and luxury travellers. It raised about $30 million from investors including Nexus Venture Partners and Matrix Partners. But that wasn’t enough. Last week, Vasupal said in a blog that […]

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Sequoia-backed KredX acquires New York-based Hummingbill

For-MoEngage-Story-TC_ThinkstockPhotos-497374711_feBangalore-based Minions Ventures Pvt. Ltd, which runs invoice discounting platform KredX, has acquired New York-headquartered accounts receivable software startup Hummingbill for an undisclosed sum, the company said in a press statement on Thursday. KredX said the acquisition will help it enhance its technological capabilities on the accounts receivable side, apart from expanding its talent pool. […]

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Practo is consumer internet company of the year: VCCircle Awards

VCCircle Awards 2017Online healthcare platform Practo Technologies Pvt. Ltd has bagged the News Corp VCCircle consumer internet company of the year award for a disruptive business model that has gone beyond its consumer play into the enterprise space. The winner was decided by an eminent jury chaired by Arun Duggal, chairman of ratings agency ICRA. Started in […]

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