Fin-tech startup Goalwise raises angel funding
Alphafront Finserv Pvt. Ltd, which runs online investment platform Goalwise, has raised $1 million (around Rs 6.8 crore) from a bunch of high net-worth individuals (HNIs), the company's CEO and co-founder Swapnil Bhaskar told VCCircle.Bhaskar said the HNIs were associated with the financial services sector but declined to name the ......
Zomato losses soar, drag parent Info Edge into the red
Restaurant listings and discovery company Zomato Media Pvt Ltd plunged deeper into the red in the financial year through March 2016 and even pushed parent Info Edge (India) Ltd into losses.Pre-tax loss at Zomato widened almost four-fold to Rs 492.27 crore in 2015-16 from Rs 136 crore the year before. ......
KKR invests $21.5 mn in Mantri Developers’ Bangalore project
Bangalore-based Mantri Developers Pvt Ltd said on Friday it has signed a definitive agreement to raise Rs 145 crore from private equity firm KKR & Co Ltd.The investment is for an ongoing luxury residential project in Bangalore that spans across 1.3 million square feet, the developer said in a statement.Mantri ......
Telcos likely to challenge one-time spectrum fee
India's leading cellular carriers are likely to challenge a government demand for surcharges totalling more than $4 billion on their airwave holdings, an industry official said.India traditionally sold airwaves bundled with permits at a low state-set price, but following a scandal over the grant process a recent auction of second-generation ......
News Roundup: L&T To Buy IDFC PE, JPMorgan’s Stake In Arm
L&T To Buy IDFC PE, JPMorgan's Stake In Arm - Larsen & Toubro will make L&T Infrastructure Development Projects (L&T IDPL), a wholly-owned subsidiary, by buying 14% from IDFC Private Equity and JPMorgan Chase for at least Rs 740 crore. The firm may later go for an IPO. The transaction ......
"We Will Look At Opportunities In TMT Sectors; Capital No Constraint
Harshal Shah was appointed last month as the CEO of Reliance Technology Ventures Pvt. Ltd., which is considered “the ......
JustDial Raises $10M From Sequoia & SAP Ventures
Mumbai-based JustDial, which runs an India-specific local business listings site, has raised $10 million from Sequoia Capital Global Equities and SAP Ventures, the company said on Monday.This comes as a fresh round of investment from Sequoia. In mid-2009, Sequoia Capital India had picked up a little over 10 percent stake from ......
Former Essel Financial CEO raises $65M realty fund, planning another fund
The former chief executive officer of Essel Financial Services Amit Goenka has raised a residential real estate focused fund with a corpus of $65 million (Rs 400 crore). This development comes almost a year after Goenka moved on from Essel.The fund has been raised under Nisus Finance Services Co Pvt ......
Process9 raises pre-Series A funding
Gurgaon-based Process Nine Technologies Pvt Ltd, which offers online translation and transliteration from English to Indian languages via a cloud-based application programming interface (API), has raised an undisclosed amount in a pre-Series A round of funding, its co-founder told VCCircle.The investors participated in the current round of funding include Indian ......
Palliatives for dodgy state-level GDP data
India’s Central Statistics Office (CSO) has been churning out some very counter-intuitive data over the past two years. For example, according to CSO data, gross domestic product growth ‘accelerated’ in FY16 versus FY15. However, this makes little sense as the majority of real economy indicators (e.g. non-oil bank credit, coal ......
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