Ola, Uber services affected as drivers go on strike in Bangalore

February 15, 2017 | Binu Paul

Taxi-hailing services of Ola and Uber have been partially affected by a strike called by various unions protesting against a recent hike in driving licence and other fees by the Regional Transport Office (RTO) in addition to the flexible fare structure followed by cab aggregators and falling inco

Online payments startup Razorpay turns profitable as sales rise 10-fold

February 15, 2017 | Dearton Thomas Hector

Jaipur-registered online payment gateway startup Razorpay Software Pvt. Ltd has turned a profit in financial year ending March 2016, filings with the Registrar of Companies (RoC) show.

LetsVenture, Venture Catalysts lead funding in co-working space Innov8

February 15, 2017 | Disha Sharma

New Delhi-based Guerrilla Infra Solutions Pvt. Ltd that runs co-working space Innov8 has raised an undisclosed amount in an angel round led by online deal-making platform LetsVenture and Mumbai-based seed investment platform Venture Catalysts, it said in a statement.

V-Day deal: Dating app Aisle raises fresh funding from CIO Angel Network

February 14, 2017 | Binu Paul

Bangalore-based startup Aisle Network Pvt. Ltd, which runs matchmaking app Aisle, has raised an undisclosed amount in fresh funding from CIO Angel Network. Konglo Ventures, White Unicorn Ventures and LetsVenture also participated in the round.

Dealmaking in Maharashtra slumps in 2016; angel investments hold out hope

February 14, 2017 | Joseph Rai

Private investments in Maharashtra declined last year largely due to a significant drop in growth-stage deals. However, early-stage funding continued to hold out hope in the state, where Mumbai and Pune were the primary centres of entrepreneurial activity.

WestBridge-backed Nazara Games to invest $20 mn in eSports league

February 14, 2017 | Disha Sharma

Nazara Technologies Pvt. Ltd, which operates mobile gaming firm Nazara Games, has launched an eSports league in India, for which it would invest roughly $20 million (Rs 136 crore) over the next five years, the company said in a press statement on Tuesday.

Early-stage VC fund Pravega, others back fintech startup Fyle Technologies

February 14, 2017 | Disha Sharma

Expense management company Fyle Technologies has raised $400,000 (Rs. 2.67 crore) in its seed round led by early stage venture firm Pravega Ventures, the startup’s founder Sivaramakrishnan Narayanan told Techcircle.

Drivers stage protest outside Ola offices in Delhi

February 13, 2017 | Binu Paul

The agitation by Uber and Ola drivers demanding better incentives got out of control in the national capital on Monday, with protesters gathering around Ola's offices in the city.   

Former Citigroup exec invests in data analytics firm Connaizen

February 13, 2017 | Arti Singh

Singapore-headquartered and Delhi-based data analytics firm Connaizen has raised an undisclosed amount from Vikram Sud, former Asia Pacific O&T head at Citigroup and ex-group COO of Kotak Mahindra Group, it said in a statement.

US-based Draper Venture Network and Blume Ventures form strategic alliance

February 13, 2017 | Disha Sharma

Early-stage venture fund Blume Ventures has entered into a strategic partnership with Draper Venture Network (DVN), an alliance of independent venture capital firms that connects leading entrepreneurs and investors around the world.

Chatbot NearGroup selected for FbStart

February 13, 2017 | Disha Sharma

NearGroup Inc. has been selected by social networking giant Facebook Inc. for its FbStart programme, the company’s co-founder, Prashant Pitti, told Techcircle.

Top-level churn continues at Ola

February 13, 2017 | Binu Paul

The exodus of key personnel at cab-hailing firm Ola shows no signs of stopping, with another top-level resignation coming to the fore.

Snapdeal disbands SD Instant team in cost-cutting drive

February 13, 2017 | Disha Sharma

After reports of Snapdeal laying off nearly 30% of its staff, co-founders Kunal Bahl and Rohit Bansal have sent out an e-mail to the e-commerce firm’s employees stating that the company has to take tough decisions in order to become profitable, a report in a national daily stated.

Jugnoo starts cab-hailing biz as Ola, Uber drivers go on strike

February 13, 2017 | Shruti Jain

SoCoMo Technologies Pvt. Ltd, which runs on-demand delivery services startup and auto rickshaw aggregator Jugnoo, has announced its entry into the taxi aggregation business at a time when key players in the segment are facing drivers’ ire over diminishing incentives and low earnings.

‘Drama’ in media over governance issues very distracting, says Infosys CEO Sikka

February 13, 2017 | Reuters

Infosys Chief Executive Vishal Sikka said talk in the media on concerns over corporate governance at the software services firm was "distracting" and that he had good relations with the firm's founders, including N.R. Narayana Murthy.

Vertex Ventures, others invest in industrial IoT firm Flutura

February 13, 2017 | Varun Arora

Bengaluru-based industrial internet of things (IIoT) startup Flutura Decision Sciences and Analytics, run by Flutura Business Solutions Pvt. Ltd, has raised $7.5 million (around Rs 50.2 crore) in funding led by Vertex Ventures.

Accel, IDG Ventures, others back med-tech startup SigTuple

February 13, 2017 | Binu Paul

Medical-technology startup SigTuple Technologies Pvt. Ltd has raised $5.8 million (around Rs 38.8 crore) in a Series A funding round led by Accel Partners with participation from IDG Ventures, Endiya Partners, pi Ventures, VH Capital and Axilor Partners.

Exclusive: Russia's Sistema anchoring new India-dedicated VC fund

February 13, 2017 | Mansi Taneja

Sistema JSFC plans to float a second fund under the stable of its Sistema Asia Fund to invest in Indian startups, a top executive told VCCircle, as the Russian conglomerate looks to expand its venture capital bets on the country.

Chennai Angels leads funding in auto services startup GoBumpr

February 10, 2017 | Varun Arora

Northerly Automotive Solutions Pvt Ltd, which runs and operates automobile services platform GoBumpr, has raised $300,000 (Rs 2 crore) in a round led by The Chennai Angels.

Nasdaq plans venture arm to back fintech firms

February 10, 2017 | Reuters

Exchange operator Nasdaq Inc (NDAQ.O) plans to set up a venture capital arm to invest in financial technology companies that can help grow its own businesses, two people familiar with the plans told Reuters.