Losses at Sequoia-backed Faasos widen four-fold as expenses mount

Faasos1Pune-based quick service restaurant chain and online food delivery company Faasos Food Services Pvt. Ltd saw losses widen four-fold in financial year ended March 2016, mainly on account of higher expenses, show filings with the Registrar of Companies (RoC). Losses for FY16 stood at Rs 111.1 crore compared with Rs 24.4 crore in the previous […]

Read more

With UberEATS, is Uber biting off more than it can chew?

UberEATSOnline food delivery is a tricky space for Indian startups, what with intense competition, wafer-thin margins and a funding drought that shows no signs of a let-up. So it was a bit of a surprise when San Francisco-based Uber, the world’s biggest startup by valuation, announced last week that it will soon launch its global […]

Read more

Uber to soon launch food delivery app UberEATS in India

UberEATS_app_homeSan Francisco-based ride-hailing company Uber Technologies Inc. will soon launch its on-demand food delivery app, UberEATS, in India. To roll out the service, it is currently inviting restaurants and delivery partners, a company statement said. The service will be offered through a standalone mobile application. Launched in 2014 as a delivery pilot in Los Angeles, […]

Read more

Data analytics startup Connaizen gets pre-seed funding, may raise more next month

For-10i-SellX-Story_coins-1015125_1920Singapore-headquartered and Delhi-based data analytics firm Connaizen has raised an undisclosed amount in pre-seed funding from Umang Moondra, former managing director of Citigroup, Singapore. Connaizen, which was launched in April 2015, provides targeted marketing solutions to merchants through its collaboration with financial institutions. The startup is soon going live with four private banks, so the […]

Read more

InnoVen Capital invests $16 mn in 13 startups in December 2016 quarter

investe_shahTemasek-backed venture debt firm InnoVen Capital India Pvt. Ltd has invested Rs 110 crore ($16 million) in 13 startups including food ordering startup Swiggy and insurance provider Coverfox in the October-December 2016 quarter. The venture debt firm also invested in furniture rental startup Furlenco, apparel rental firm Flyrobe, branded accommodation firm Zelo, product recommendation platform […]

Read more

Exclusive: Bike rental startup ONN Bikes gets seed funding

seed-funding-thinkstockMumbai-based bike rental startup ONN Bikes has secured an undisclosed amount of seed funding from Grace Capital Ventures and four other individual investors. The startup, operated by Motorcruizer Technologies India Pvt. Ltd., will use the funds to set up hub stations in Bengaluru and Hyderabad, Namit Jain, co-founder of ONN Bikes told Techcircle. These stations […]

Read more

Zomato hires banker for fresh fundraise, plans to set up cloud kitchens

zomatoGurgaon-based restaurant listing and food delivery firm Zomato Media Pvt. Ltd has hired investment bank Morgan Stanley for its next fundraise, according to a spokesperson of the company.  Further details were not revealed. In its last funding round in September 2015, the company had raised $60 million from Singapore government’s investment firm Temasek and existing […]

Read more

Mukesh Bansal joins food-tech startup Swiggy’s board as advisor

Bengaluru-based Bundl Technologies Pvt. Ltd, which owns and operates online food ordering platform Swiggy, has roped in Myntra’s founder Mukesh Bansal as a strategic advisor. “His (Bansal’s) role in building an incredible product and scaling private brands at Myntra will prove to be beneficial for Swiggy as it runs a host of initiatives to solve […]

Read more