Swedish investor Kinnevik to sell half its stake in Rocket Internet

KinnevikSwedish investment firm Kinnevik AB is selling nearly half of its 13% stake in German Internet conglomerate and incubator Rocket Internet SE. It plans to sell nearly 10.9 million shares, representing 6.6% of Rocket Internet’s issued share capital, to institutional investors at €19.25 per share, Kinnevik said in a statement on Wednesday. “Kinnevik’s gross proceeds […]

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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 […]

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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, […]

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Delivery Hero buys Rocket Internet-backed startup Foodpanda

FoodpandaDelivery Hero Holding GmbH, which runs Delivery Hero, has announced the acquisition of Rocket Internet’s entire global operations of food delivery startup Foodpanda. The acquisition brings together two top food delivery startups based in Germany. After this acquisition, the combined group is expected to process over 20 million orders per month across 47 countries. Delivery […]

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Rocket Internet finds one-size-fits-all doesn’t work

Rocket_internetRocket Internet, the German internet venture builder, may have made certain miscalculations “in putting trust in everyone” while doing business in India, said a senior global executive while speaking at a startup event in Bangalore on Thursday. Rocket Internet – which operates on a venture builder model where in it hires key executives as co-founders […]

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Exclusive: Existing investors, HNIs back food-tech startup Petoo

Petoo_01_feBangalore-based food-tech startup Petoo, owned and operated by Kinematic Foodtech Pvt. Ltd, has raised $500,000 from its existing investors and high-net-worth individuals (HNIs) through online deal-making platform LetsVenture. The startup will use the capital to fund its ongoing food research initiatives and to roll out its new products across the country, Kumar Setu, co-founder of […]

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Rajinikanth’s Kabali rings in rewards for Mobikwik, Foodpanda, Voonik & others

KabaliIt isn’t only the producers of Kabali that are dancing in joy over the record-breaking success of the film, hordes of startups that launched marketing campaigns riding piggyback on age-defying superstar Rajinikanth, too, are celebrating. For, their decision to tread the much-beaten track of aligning with a popular film actor paid rich rewards even as […]

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Exclusive: Edu-tech startup ExtraaEdge raises seed funding

ExtraaEdge_feExtraaEdge Technology Solutions Pvt. Ltd, an edu-tech startup that helps educational institutions acquire students and increase admissions, has raised an undisclosed amount in angel funding from a group of investors including Ritesh Dwivedy, CEO of Petoo.in and Priti Padhy, global director of business intelligence and information management at Microsoft, a top company executive told Techcircle.in. […]

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IRCTC ties up with Foodpanda for meals delivery at railway stations

Soon, you would be able to use Foodpanda’s service to order meals from your favourite restaurant while waiting to board a long-distance train. The Rocket Internet-owned food ordering marketplace has tied up with state-run Indian Railway Catering and Tourism Corporation (IRCTC) to deliver meals at railway stations. Users can place their orders through the IRCTC […]

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