Get My Parking raises $1.1 mn from IAN, others

February 23, 2017 | Binu Paul

Cloud-based mobile parking technology startup Get My Parking has raised $1.1 million (Rs 7.35 crore) in pre-Series A funding from Indian Angel Network (IAN), venture firm Beenext, The Chennai Angels, and Hero Corporate Services chairman Sunil Munjal.

Hospitality firm Four Seasons files for IPO

February 23, 2017 | Ankit Doshi

Ahmedabad-based hospitality firm, Four Seasons Residency Ltd, on Wednesday, filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO).

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

February 23, 2017 | Binu Paul

Nearly 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.

MobiKwik to invest $45 mn on merchant, user acquisition

February 23, 2017 | Arti Singh

Digital wallet MobiKwik, run by One Mobikwik Systems Pvt. Ltd, will invest Rs 300 crore (about $45 million) this year on acquiring merchants and users, as it looks to increase its share in the highly competitive payments market.  

Swedish investor Kinnevik to sell half its stake in Rocket Internet

February 23, 2017 | Deepti Chaudhary

Swedish investment firm Kinnevik AB is selling nearly half of its 13% stake in German Internet conglomerate and incubator Rocket Internet SE.

Exclusive: Meat ordering startup Licious raising Series B funding

February 23, 2017 | Debjyoti Roy & Ranjani Raghavan

Online meat and fish ordering platform Licious, which is operated by Bengaluru-based Delightful Gourmet Pvt. Ltd, is in an advanced stage of talks to raise its Series B round of funding from one of its existing investors, a person privy to the development told VCCircle.

Four things every aspiring entrepreneur must know about venture capital

February 23, 2017 | TEAM VCC

Venture capital plays an important role in unleashing human potential. Think of this: financial capital can be a constraint for entrepreneurs raring to go, and people with the best ideas may not always be the people with enough capital to carry out their ideas. 

Fin-tech sees sharp funding slowdown, but there's a silver lining: KPMG

February 22, 2017 | Arti Singh

Venture capital (VC) investments in India's fin-tech sector nosedived to a mere $216 million in 2016, a far cry from the previous year's $1.6 billion, according to KPMG International’s quarterly report on global fin-tech investment that was released Wednesday.

FreeCharge founders, Chaayos CEO back B2B pharmacy app Reap

February 22, 2017 | Varun Arora

Mumbai-based Workcell Solutions Pvt.

Exclusive: Kanwaljit Singh-led Fireside Ventures nears first close of new VC fund

February 21, 2017 | Ranjani Raghavan

Helion Venture Partners' co-founder Kanwaljit Singh, who left the venture capital firm in 2014, is floating an early-stage fund from the stables of his family investment office Fireside Ventures, two persons privy to the development told VCCircle. 

Exclusive: Acumen-backed Sahayog Dairy hires banker for fresh fundraising

February 21, 2017 | Debjyoti Roy

Madhya Pradesh-based dairy firm Sahayog Dairy is planning to raise funding to build up its business and has hired an investment banker to help formalise the process, a person privy to the development told VCCircle.

Matrix Partners to fully exit from hospital chain Cloudnine

February 20, 2017 | Joseph Rai

Kids Clinic India Pvt. Ltd, which operates maternity and infant care chain Cloudnine Hospitals, said on Monday multi-stage venture investor Matrix Partners has decided to sell its entire stake in the company.

Photo-sharing app Vebbler selected for FbStart

February 20, 2017 | Disha Sharma

Photo-sharing app Vebbler, which is run by Vebbler Technologies Pvt. Ltd, has been selected by social media giant Facebook for its FbStart programme, the startup said in a statement.

Exclusive: IAN makes first close of maiden venture fund

February 20, 2017 | Disha Sharma

Indian Angel Network's eponymous IAN Fund has marked its first close, receiving commitment from investors within the network as well as high-net-worth individuals (HNIs) overseas, two people familiar with the development told News Corp VCCircle. 

Exclusive: Orios Venture Partners raises second fund

February 20, 2017 | Deepti Chaudhary

Orios Venture Partners has closed the fundraising process for its second fund at a lower-than-targeted level but plans to hit the road again within the year, as the Mumbai-based venture capital firm looks to accelerate its pace of investments after staying on the sidelines in 2016.

IDG, Accion to invest more in CreditMantri

February 20, 2017 | Dearton Thomas Hector

Chennai-based online credit management startup CreditMantri Finserve Pvt. Ltd is set to raise Rs 51 crore ($7.6 million) in Series B funding from new and existing investors, said a report in a financial daily on Monday.

Paytm bets $89 mn on QR code payment system

February 20, 2017 | Arti Singh

Digital wallet firm Paytm, operated by One97 Communications Ltd, plans to invest Rs 600 crore ($89 million) to develop a QR code-based payments solution, several media reports stated.

True Balance raises $15 mn from SoftBank Ventures Korea, others

February 20, 2017 | Disha Sharma

Gurgaon-based startup True Balance, an app that allows users to check their mobile phone balance, has raised Rs 100 crore ($15 million) in a Series B round led by existing investor SoftBank Ventures Korea, part of Japanese Internet conglomerate SoftBank Group Corp, and IMM Investment Group.

Why a potential Snapdeal-Paytm merger makes perfect sense

February 18, 2017 | Arti Singh

Will they? Won't they? Rumours come and go, but those around India's third-largest e-commerce company Snapdeal's merger refuse to die down, even though the suitors keep changing. 

Indian IT industry faces twin challenges of Trump, automation

February 18, 2017 | Reuters

Automation and the new US administration were the big unknowns at the Indian tech sector's annual shindig this week, with machines threatening to take away thousands of jobs and concerns over possible visa rule changes in the key American market.