Stayzilla co-founder Vasupal arrested; wife alleges harassment by vendor

Stayzilla’s co-founder Yogendra VasupalYogendra Vasupal, the co-founder and chief executive of Chennai-based homestay booking startup Stayzilla, has been arrested by the police on allegations of non-payment of dues by an advertising agency the company worked with. The development comes barely weeks after Stayzilla shut down its operations last month. Vasupal’s wife and Stayzilla co-founder Rupal Yogendra told VCCircle […]

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ItzCash to strengthen hold in expense management, backs fintech startup Finly

For-THB-Story-TC_ThinkstockPhotos-520095558Mumbai-based digital payments company ItzCash Card Ltd has made an undisclosed equity investment in Bangalore-based expense management firm Finly. ItzCash will use the funds to strengthen its play in the expense management vertical, which is estimated to be a $25 billion opportunity for corporates in India, the company said in a statement. Founded by Veekshith […]

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Franklin PE arm sells Dailyhunt stake to China’s Bytedance for $19.2 mn

DailyhuntFranklin Templeton Private Equity Strategy has exited vernacular news aggregator Dailyhunt, selling its stake to existing investor Bytedance of China, a financial daily reported on Wednesday. Franklin Templeton PE sold its stake in Ver Se’ Innovation Pvt. Ltd, which runs Dailyhunt, for around Rs 130 crore ($19.2 million), a report in The Economic Times said. […]

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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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Practo makes fifth acquisition, buys analytics startup Enlightiks

ThinkstockPhotos-515064430_fePracto Technologies Pvt. Ltd, a web-based clinic management software developer, has acquired US-based data analytics firm Enlightiks Inc. and its Indian operations in a cash-and-stock deal. The deal, which includes the acquisition of Bengaluru-based Enlightiks Business Solutions Pvt. Ltd, is valued at $13.9 million (about Rs 92 crore), according to VCCEdge, the data research platform […]

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B2B marketplace OfBusiness raises $11 mn from Zodius Capital, Matrix Partners

For-OfBusiness-Story-TC_ThinkstockPhotos-607900634OfBusiness, an online marketplace focussed on business-to-business (B2B) commerce, has secured $11.1 million (Rs 75 crore) in a Series B round of investment led by Zodius Capital. The technology-focused venture capital firm made the investment through its Zodius Technology Opportunities Fund. The round also saw participation from existing investor Matrix Partners, the company told TechCircle.in. […]

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One funded Indian tech startup shut shop every 10 days this year

ThinkstockPhotos-511734232Well begun, as they say, is half done. By that measure, startups that managed to raise funding from marquee investors such as Sequoia Capital, Matrix Partners and Helion Ventures even before they began to earn revenue would surely have been on the path to success. But, a beginning however great is just that—a beginning. And […]

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SaaS startup Zarget raises $6 mn in Series A funding

funding-by-mukul-(3)2Chennai-based software-as-a-service (SaaS) provider Zarget has raised $6 million (Rs 40 crore) in its Series A round of funding, led by venture capital firm Sequoia Capital India. Existing investors Accel Partners and Matrix Partners also took part in this round, the company said in a statement. Osmnez Technologies Pvt. Ltd, which runs the conversion rate […]

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MakeMyTrip-ibibo merger: What it means for hotel aggregators

MakeMyTrip-ibibo mergerThe merger between MakeMyTrip and Naspers-owned ibibo Group could benefit hotel aggregators in India in more ways than one. To begin with, it will reduce cash burn and discounting, founders of several hotel aggregation platforms told TechCircle. On Tuesday, NASDAQ-listed and India’s oldest online travel company MakeMyTrip Ltd agreed to buy ibibo Group in the […]

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Exclusive: ItzCash in talks with several fintech mobile companies for potential investment

ItzCash_MDMumbai-based digital payments facilitator ItzCash is in talks with several mobile application firms for making a strategic investment, said a top company executive. The company, which would turn profitable in FY2016-17, is looking for firms specialising in fintech mobile applications which can be scaled with further investments. It is open to explore options including acquisition, […]

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