Indian Angel Network Invests in Hotel reservation Startup, Find My StayIndian Angel network has invested in Findmystay.com, a New Delhi-based startup that operates a hotel booking website. Delhi-based startup allows users to book hotel accommodations at the price they wish to pay for their stay. Its model enables two-way communication between the customer and hotel rather than a non-negotiable price tag posted by the hotels. The company was founded in October 2013 by Rohit Kheterpal and Simran Sial.
Altico Capital Invests $27M in Real Estate Firm Pharande GroupNon-banking finance company (NBFC) Altico Capital India Pvt Ltd has provided debt of Rs 180 crore ($26.8 million) to real estate firm Pharande Promoters & Builders Pvt Ltd. The deal was closed in June 2016. The investment has been made against two brown-field residential projects named ‘L-Axis’ and ‘Woodsville-III’ in Pune. Pharande Promoters will use the funding for refinancing an existing lender and for construction of the projects, as per DealStreetAsia report.
redBus Buys Majority Stake in Peru Based Ticketing Platform BusportalIbibo Group-owned online bus ticketing platform redBus has acquired a majority stake in Peru-based online bus ticketing platform Busportal (Empresa Digital Peruana S.A.C.) for an undisclosed amount.
This investment in Busportal.pe will give redBus an entry into large and under-penetrated online bus ticketing markets in Latin America, such as Peru, Colombia and Chile. In addition to its local market expertise, Busportal will leverage the redBus technology, product and brand name to launch and grow these markets, as per LiveMint report.
Fashion Etailer Myntra Acquires Tech Startup CubeitOnline fashion store Myntra Designs Pvt. Ltd has acquired Bangalore-based Cubeit, a startup that facilitates content aggregation on mobile devices, to gain access to its employees. Financial details of the acquisition weren’t disclosed, reported LiveMint.
Myntra, which was acquired by Flipkart Ltd for about $330 million in March 2014, has bought two technology start-ups previously. In May last year, Myntra acquired Native5, a Bangalore-based app development company. In April 2013, the company acquired Fitiquette, a San Francisco-based start-up that provided virtual fitting room solutions.
Cubeit, which was founded by Sarthak Jain, Nithinkumar Gadiparthi and Prathamesh Juvatkar in 2014, allows users to aggregate, organise and share content. The company has raised about $3 million from Accel Partners and Helion Venture Partners.
Jugnoo Unveils its Inhouse Route Optimization Software ‘Flight Map’Betting big on the delivery and logistics ecosystem in India, Jugnoo unveils its inhouse route optimization software ‘Flight Map’. Absolutely certain of offering comprehensive routing solutions, ‘Flight Map’ is designed to solve travel salesman and vehicle routing problem. Thriving on the solution for the past one year, Jugnoo now summons businesses to reap the benefits of its product, for an all-inclusive operating experience, free of cost. Touted to be a boon for businesses that involves traveling and field work, the software was fundamentally designed for Jugnoo and its two other ventures viz. Dodo and Fatafat service, operating in intracity travel, delivery and logistics ecology.
In view of the burgeoning ondemand services in India, developing ‘Flight Map’ was a move well thought of. Supporting its own cause, Jugnoo ideated the solution in a bid to scale its business and further aid in customer satisfaction. Moreover, Jugnoo is releasing the API for two types of services viz. ‘The simple vehicle routing problem’ and ‘pickup and delivery problem’.
To avail the free service a user simply needs to log on to http://flightmap.clicklabs.com/ and register. However, it is to be noted that the services are free only for businesses dealing in a maximum of 100 orders per day. Any business dealing with orders more than that needs to purchase their enterprise plan. Jugnoo has partnered with Click Labs, a leading SaaS technology solution provider, to handle the registration and purchase process of this service.
So if you have promised your customers of timely delivery of their products and while making maximum savings for the company; ‘Flight Map’ is the solution!
