Kavin Mittal gets 24-fold hike in FY16

Kavin Bharti Mittal, founder, HikeKavin Bharti Mittal, CEO at Hike Ltd, received an almost 24-fold increase in compensation for 2015-16, as the messaging app expanded its operations and attracted marquee investors. Mittal received total remuneration of Rs 18.28 crore for the year through March 2016, according to the company’s annual report. This compares with the Rs 74.61 lakh he […]

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Myntra’s Vector E-commerce back in red as FY16 revenue rises 40%

myntra_feVector E-commerce Pvt Ltd, the biggest seller on online fashion marketplace Myntra, posted a loss of Rs 8.72 crore in FY16 after turning a profit in the last two financial years, filings with the Registrar of Companies (RoC) show. Profit after tax stood at around Rs 6.5 lakh in FY15. Revenue, however, grew from Rs […]

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Fashion marketplace Voonik in legal tussle with Surat-based vendors

VCCircle_voonik2223In another clash between sellers and online marketplace operators, fashion e-tailer Voonik and a group of Surat-based garment sellers are engaged in a legal battle over non-payment of dues. A group of garment sellers had filed a first information report (FIR) against the fashion e-commerce firm on 7 January 2016. In response, the company dismissed […]

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Exclusive: Wedding venue marketplace Weddingz.in raises $ 1 mn

Weddingz-inMumbai-based online marketplace for wedding venues and vendors, Weddingz.in, has raised nearly $1 million (Rs 6.8 crore) from Singularity Ventures, a person close to the development told Techcircle. Existing investor Sixth Sense Ventures also participated in the round. Weddingz.in founder and CEO Sandeep Lodha, however, declined to comment on the fund-raise. In February last year, […]

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Exclusive: Simplilearn to raise $40 mn this year for acquisitions, expansion

Krishna KumarOnline certification course provider Simplilearn is planning to raise $30-40 million in Series D funding in the first half of this year, its founder and CEO Krishna Kumar told Techcircle. Simplilearn Solutions Pvt Ltd, which has so far raised $28 million from venture capital firms, last raised equity funding in April 2015. It had then […]

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Snapdeal revenues up 56% but losses more than doubled to $436 mn in FY2015-16

Snapdeal_by-Junaid2Jasper Infotech Pvt. Ltd, which runs online marketplace Snapdeal, more than doubled its losses to Rs 2,960 crore (around $436 million) in the financial year ended 31 March 2016. Its total revenues went up by 56% to Rs 1,456.6 crore in FY2015-16. It had garnered revenues of Rs 933.3 crore with a net loss of […]

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Practo raises $55 mn in Series D round led by Tencent

PractoDigital healthcare platform Practo has raised $55 million in Series D funding led by existing investor China’s Tencent. Practo Technologies Pvt Ltd, which runs a doctor-appointment site and offers an ad platform to clinics, hospitals and diagnostic centres, also saw participation from three new investors—Russian venture capital (VC) firm ru-Net, Japan’s Recruit Holdings’ investment arm […]

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One year of Startup India: Report card

The Prime Minister, Shri Narendra Modi addressing at the launch of Start-Up India, Stand-Up India programme, in New Delhi on January 16, 2016.Exactly a year ago, on January 16, 2016, Prime Minister Narendra Modi unveiled the ‘Start-up India, Stand up India’ initiative. As the Vigyan Bhavan auditorium bustled with energy and excitement, hundreds of new-age entrepreneurs looked forward to the historic announcement—the ‘Startup India Action Plan’. After all, for the first time in India, a comprehensive policy […]

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Exclusive: Personality development app Leadburg raises angel funding

For-Constant-Funding-Kotak-Story_ThinkstockPhotos-611186240_spoPersonality development app Leadburg has raised an undisclosed amount in angel funding led by former SAP veteran Harsh V. Pant and OpsVeda Asia president and COO Ratheesh Raveendran, a top company executive told Techcircle. Leadburg, run by LeadCap Knowledge Solutions Pvt Ltd, was founded last year by Harvard alumnus Sangeeth Varghese, UN fellow and Ford […]

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Exclusive: Ed-tech startup Byju’s to acquire gaming apps in US for up to $30 mn

Byju Raveendran, founder and chief executive of Byju’sBangalore-based ed-tech startup Byju’s, incorporated as Think & Learn Pvt. Ltd, is scouting for acquisitions in the US to accelerate its international expansion. The company is evaluating a couple of gaming and learning apps that cater to the lower grades, starting from kindergarten. Byju Raveendran, founder and chief executive of Byju’s, told TechCircle that the […]

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