Bombay High Court bars taxi unions from disrupting Uber’s operations

For-Ola-Uber-Illegal-Ride-sharing-Story_ThinkstockPhotos-85451628US-based Uber Technologies Inc’s India subsidiary Uber India Technologies Pvt. Ltd has obtained a restraining order from the Bombay High Court that prevents dissenting taxi union bodies from disrupting its operations in Mumbai. Mumbai’s taxi unions had threatened to go on strike on 21 March. However, the strike has been called off following the court […]

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Meet the 12 startups selected for Yes Bank’s accelerator programme

Yes_Bank_Mukul-Mudgal1India’s fifth largest private sector lender Yes Bank has chosen 12 fintech startups for the inaugural cohort of its accelerator programme. The Yes Bank Business Accelerator Program was set up in collaboration with startup incubator T-Hub, startup advisory firm Anthill and fintech platform Let’s Talk Payments. The selected startups will go through a 15-week programme […]

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Social fitness app Fitso raises $200K from former Flipkart exec, others

fitnass11Gurgaon-based Jogo Technologies Pvt. Ltd, which runs health and fitness app Fitso, has raised $200,000 (Rs 1.3 crore) in angel funding from a clutch of investors including former president – operations at Flipkart Sujeet Kumar, Intelenet Global Services CEO Bhupender Singh and PolicyBazaar CEO Yashish Dhaiya via fund-raising platform LetsVenture. The company will use the […]

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Exclusive: Virtual reality startup ShilpMIS raises angel funding

Virtual reality startup ShilpMIS raises angel fundingSurat-based ShilpMIS Technologies Pvt. Ltd has raised an undisclosed amount in funding from Puneet Gupta, a digital industry veteran and angel investor, Nimitt Desai, partner at Deloitte US, and other high net worth individuals (HNIs), a top company executive told VCCircle. Founded earlier this month by IIT Guwahati graduates Hardik Desai and Vivek Bhargav, ShilpMIS […]

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PickMyLaundry acquires OneClickWash in all-cash deal

LaundryNew Delhi-based PML Solutions Pvt Ltd, which runs on-demand dry cleaning and laundry services provider PickMyLaundry, has acquired subscription-based laundry and dry cleaning startup OneClickWash for an undisclosed amount in an all-cash deal. The acquisition will help PickMyLaundry to leverage OneClickWash’s laundry processing unit and tech infrastructure, as well as an experienced team, to improve […]

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Exclusive: Last-minute hotel booking startup RoomsTonite shuts down

Close-free2RoomsTonite, a mobile app for last-minute hotel bookings, has closed down operations as funds dried up following a failed $1.5 million fundraising bid, two persons familiar with the development told VCCircle. The startup decided to draw the curtain around eight months ago when operating costs began to get out of control. Its mobile application is […]

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Facebook selects dating app Matchbox for FbStart programme

Facebook selects dating app MatchboxDating app Matchbox has been selected by social media giant Facebook Inc. for its early-stage startup mentorship programme FbStart, under the Bootstrap track, the company said in a statement. Founded in 2015 by Jude Pereira, the Mumbai-based company connects people through similar tastes in music, which serves as an ice-breaker. It has over 250,000 songs […]

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Uber founder, India head named in notice alleging bribery after road mishap

Uber_big_feA Mumbai woman has sent a legal notice to the founder and India head of Uber Technologies Inc after a cab operated by the taxi-hailing firm hit her husband and left him comatose. The legal notice, sent by Nahid Ali through law firm MZM Legal, alleged that the cab driver and an Uber representative sought […]

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Why govt’s proposed rules for prepaid instruments may hurt e-wallets

ThinkstockPhotos-85500716_feThe government on Wednesday released draft guidelines for digital wallet companies as part of its efforts to promote electronic payments, ensure security of transactions and strengthen grievance redressal for consumers. The draft Information Technology (Security of Prepaid Payment Instruments) Rules 2017 mandate, among other things, that digital wallets adopt multiple-factor authentication when a customer initiates […]

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What prompted Paytm to roll back 2% fee on wallet top-up via credit cards?

Paytm E-Commerce set to raise $252 mn in round led by AlibabaIndia’s top digital wallet Paytm on Thursday reversed the 2% levy on top-ups via credit cards it had introduced a day earlier, saying it was doing so keeping users’ convenience in mind and that it would instead put in place new mechanisms to check misuse. “We are conscious that this move caused inconvenience to a […]

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