Qualcomm Ventures leads Series E round in IoT device maker Borqs

For-M-Wallet-Story_ThinkstockPhotos-497365385Borqs International Holding Corp, which operates Internet of Things (IoT) device developer Borqs, has raised an undisclosed amount in its Series E round of funding led by Qualcomm Ventures, weeks before the firm is set to undergo a reverse merger, it said in a statement. In December 2016, the company entered into an agreement with […]

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Accel Partners leads $10 mn Series B round in AgroStar

AgroStarPune-based ULink AgriTech Pvt. Ltd, which operates direct-to-farmer mobile-based retail platform AgroStar, has raised $10 million (around Rs 66.6 crore) in its Series B round led by Accel Partners, the company said in a statement. Existing investors IDG Ventures and Aavishkaar Venture Management also participated in the round. The startup will use the funds to […]

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Flipkart suffers yet another valuation markdown

Flipkart22Just when Flipkart Internet Pvt. Ltd was consolidating its position under the new CEO Kalyan Krishnamurthy, a fresh bout of valuation markdowns could prove to be a damper. More so, as the largest consumer internet company in India had experienced a tumultuous 2016. In fact, Macquarie Group-owned Optimum Fund’s decision to lower the value of […]

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Morgan Stanley trims Flipkart valuation to $5.39 bn

VCCircle_Flipkart8Indian e-commerce firm Flipkart has suffered its second markdown in as many months with a mutual fund managed by Morgan Stanley slashing the value of its stake in the company by 3%. According to filings with the US Securities and Exchange Commission (SEC), a Morgan Stanley fund lowered the value of the Flipkart shares it […]

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Sands Capital, IFC & others to invest $30 mn in logistics startup BlackBuck

funding-investment4Tiger Global-backed logistics startup BlackBuck has received an investment commitment of $30 million (around Rs 200 crore) in its Series C funding round from a group of new and existing investors, including Sands Capital and World Bank’s arm International Finance Corporation (IFC). Citing two unnamed persons close to the matter, Mint reported that both Sands […]

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Bluestone narrows revenue gap with Caratlane

For-Bluestone-CarrotLane-Results-Story-TC_ThinkstockPhotos-454983451The race for supremacy in the online jewellery retailing segment has tightened, with the gap in revenue of the top two players—Caratlane and Bluestone—halving in the last financial year. Carat Lane Trading Pvt Ltd, which runs Caratlane.com, posted a 9.5% increase in net sales to Rs 131.8 crore for 2015-16 from Rs 120.4 crore the […]

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Housejoy FY16 losses widen 20-fold on higher ad spend, employee costs

home_feHome services startup Housejoy’s revenue rose nearly 32 times in FY16, but losses also went up 20-fold as employee costs soared and the company spent more on advertising and promotions. The company, run by Sarvaloka Services On Call Pvt. Ltd, reported total revenue of Rs 17.1 crore against Rs 54.43 lakh in the previous year, […]

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B2B logistics startup BlackBuck to raise $10 mn from IFC

For-Blackbug-Story-TC_ThinkstockPhotos-500646181International Finance Corporation plans to make an equity investment of up to $10 million (Rs 68 crore) in logistics startup BlackBuck for a minority stake, the World Bank’s private-sector arm said. The investment will help BlackBuck, operated by Bangalore-based Zinka Logistics Solutions Pvt. Ltd, drive growth in contract and spot business and build ancillary services […]

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PropTiger-Housing deal to be signed this week

PropTiger-HousingOnline property broker PropTiger and SoftBank-funded realty portal Housing.com are in the final leg of talks to ink a merger that may be announced as early as this week, two persons aware of the development told Techcircle. This would mark the second such consolidation among the top tier ventures in the online real estate or […]

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Mobile gaming startup Mech Mocha set to raise funding from Chinese VC firm

Team Mech MochaChinese venture capital firm Shunwei Capital is in advanced talks to make its debut investment in India, in gaming startup Mech Mocha Game Studios Pvt Ltd, a financial daily reported on Friday. Shunwei Capital is investing $2 million along with venture capital firm Accel Partners, The Economic Times reported citing two people aware of the […]

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