OYO in talks to raise $500 mn from SoftBank; valuation set to soar

Anil GoelBranded budget hotels marketplace OYO Rooms, run by Oravel Stays Pvt. Ltd, is in talks to raise $300-500 million (Rs 2,000-3,335 crore) from SoftBank Vision Fund, in what will possibly be one of the biggest deals in India’s consumer internet space, a daily reported on Monday. If the deal goes through, OYO will become the […]

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Exclusive: Jewellery e-tailer Johari Shop goes omni-channel, gets angel funding

Johari ShopJewellery e-commerce marketplace Johari Shop has raised $94,000 (Rs 62.5 lakh) from three angel investors, including a diamond exporter and a high net-worth individual, to power its omni-channel efforts. The company will invest the capital to work on its omni-channel strategy that would start with the launch of its first brick-and-mortar store in Bangalore’s VR […]

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Clean-tech startup igrenEnergi raised funding from Japanese investors

solar-(3)igrenEnergi Inc, a US-based solar energy startup incubated at the Indian Institute of Technology-Bombay, has raised an undisclosed amount of funding from Japan’s BroadBand Tower Inc and GiTV. BroadBand Tower operates data centres and provides cloud services to e-commerce companies, video distribution sites and social media, according to its website. GiTV is an investment fund […]

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Ventureast floats early-stage fund to back health-tech startups

health-tech startupsEarly-stage investor Ventureast Fund Advisors India Ltd is raising a new $4 million ($26.6 crore) fund to make angel and seed investments in digital healthcare startups. This fund is an “independent initiative” as part of the healthcare series, a company spokesperson told VCCircle on Friday. “We got the idea of raising this fund as our […]

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Exclusive: Mobile ad platform Oglas raises angel funding

Oglas raises angel fundingNoida-based mobile advertising startup Oglas has raised angel funding from two people, co-founder and chief executive Sunny Agarwal told Techcircle. Agarwal said Oglas, run by Advove Medios Pvt. Ltd, received funding from investment banker and NYU Stern alumnus Pankaj Rungta and serial entrepreneur Yogesh Agarwal. The co-founder didn’t disclose the amount raised, which it plans […]

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B2B online marketplace Tolexo to lay off 300

layoff_tcOnline business goods marketplace Tolexo Online Pvt. Ltd will lay off 300 employees, or 85% of its workforce, according to a report by Business Standard. The report went on to add that the move is part of the company’s plans to wind up its online business to launch a completely new offline initiative. The company […]

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Snapdeal sellers knock govt’s doors as e-tailer struggles

SnapdealA group of sellers on online marketplace Snapdeal has approached commerce minister Nirmala Sitharaman to protect their interests as the company’s troubles mount. The All India Online Vendor Association (AIOVA), an industry group set up to safeguard sellers’ welfare, said in a letter to Sitharaman it was afraid that Snapdeal may default on payments to […]

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What’s inside Aadhaar-linked Skype Lite?

skype_feSkype Lite, the 13MB video-calling app that works flawlessly even on a slow network, could well be the answer to the woes of scores of mobile users struggling to keep up with call drops and barely-workable data speeds in India. A lighter version of Skype, the video conferencing service from Microsoft, sits light on the […]

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Ola, Uber drivers begin indefinite strike in Bengaluru; services paralysed

ola-uber-feNearly 90% of the one lakh cab drivers associated with taxi-hailing companies Ola and Uber are taking part in an indefinite strike in Bengaluru, bringing the app-based taxi services to a grinding halt in the city. The protesters demand better incentives and relaxed work hours and call for an immediate decision on stopping attachment of […]

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