Smart Payment Card App Olly To Raise $500K Angel FundingSmart Payment card app Olly, run by Delhi-based Money King Remittance Technologies Pvt Ltd, plans to raise $500,000 in angel funding, as per DealStreetAsia report.
Founded in January 2015 by chief executive officer Ashwin Bhambri and Ringaile Noq, Olly provides a digital line of macro credit up to a limit of Rs 5,000 available instantly.
The users can use the credits online and in physical stores.
“The deal is expected to close by September this year and we are diluting around 16 per cent stake in the fundraising process.”
Health Care At Home Acquires Health ImpetusHealth Care at Home, a joint venture between Dabur India promoter Burman family and founder of Health Care At Home, UK, has acquired Health Impetus Pvt Ltd for an undisclosed amount.
The acquisition will help the company to expand beyond services for disease management and patient care services like EMI schemes for chronic ailments like cancer, diabetes, hepatitis B and the like to help patients continue treatment and meet high cost of medication, as reported by DealStreetAsia.
HCAH provides medical and clinical services such as setting up ICU at home, home cardiac care, home oncology services, post-surgical care and home pulmonology services that cover a wide range of ailments.
MyTaxiIndia Raises $1M Bridge Funding From Existing Investor Nihon KotsuInter-city cab rental platform MyTaxiIndia Pvt. Ltd has raised $1 million in a bridge round of funding from Japanese taxi rental firm Nihon Kotsu Co, which is an existing investor in the startup.
The Delhi-based company plans to use the capital to expand its services to tier 2 and 3 cities. A part of the money will also go for technology development, marketing and branding, as quoted by DealStreetAsia.
Founded in December 2013, the company is in talks with investors to raise $5-10 million for its Series A round.
MyTaxiIndia claims to have over 12,000 taxis operating across 120 cities through its affiliates. It plans to increase its presence to 200 cities by the end of FY 2016-17.
Verlinvest, DSG Consumer Invest $6.6M in Drums FoodBelgium-based investment firm Verlinvest and early stage investor DSG Consumer Partners, have led a Rs 44.5 crore ($6.6 million) funding round in yogurt and ice cream maker Drums Food International.
Mumbai-based Drums Food manufactures the Epigamia brand of Greek yogurt and the Hokey Pokey brand of premium ice cream. Its existing investors Fireside Ventures, TPG Growth India Head Vish Narain, Salarpuria Group scion Apurva Salarpuria, and crowd funding platform Ketto also participated in the Series A round, as quoted by DealStreetAsia,
Founded in 2008 by Rohan Mirchandani, chef Ganesh Krishnamurthy and Uday Thakkar, Drums Food plans to use the capital towards acquiring talent, and investing in its supply chain and increasing production capacity.
UrDoorStep Raises Bridge Round Of $447K, Eyes Pan-India PresenceOn-demand delivery portal UrDoorStep has raised a bridge round of funding of $447K (INR 3 Cr) led by CP Murali, former President and COO of Aricent Technologies. The raised funds will be used for expansion plans in Bangalore.
Bangalore-based UrDoorStep was founded in October 2015 by Dinesh Malpani (IBS Hyderabad alumni).
It delivers, groceries, kitchen appliances, furniture and apparels at the doorstep. Currently, it claims to serve around 60-70 pincodes only in Bangalore.
Dinesh Malpani, founder of UrDoorStep, told ET, “We make gross margins of 17-18% across categories and try to deliver our private labels processed just-in-time. For food and essentials, digital channel is a game-changer.”
Ixigo Launches AI Powered Chatbot ‘Ixibaba’After launching the in-app booking service ixibook, the Gurgaon-based, travel search marketplace, ixigo, has launched ‘ixibaba’.
Ixibaba is an artificial intelligence(AI) chatbot designed to simplify the lives of travellers. The ixibaba has a human-like-persona of a savvy ‘baba’. The bot provides quick and quirky answers to all the travel planning and booking related queries.
The AI powered bot is designed to help the travelers plan their trip by availing information on topics across flights, hotels, buses, cabs, places to visit, vacation destinations and more. The users will now have an option to either use ixigo’s proprietary meta-search engine or the chatbot’s help to find the cheapest travel deals. Ixibaba is also intelligently packaged to tell weather forecast of the destination, show a list of things that can be searched to do in a city and even find offbeat adventure activities.
Aloke Bajpai, co-founder & CEO of ixigo, said, “A first-of-its-kind innovation in the Indian travel space, this development is in line with the advances in chat technology and customer interaction.” Quoted Inc42.
I-MADE Launches Mobile Wallet For College StudentsFor college students, making payments for submitting college fee and canteen bills as well as purchasing books is often cumbersome. For those who study in a city away from home, receiving money from parents is an added challenge. For helping students face this challenge, Innovation in Mobile App Development Ecosystem (I-MADE)—an initiative by Telecom Centers of Excellence (TCOE)—has launched I-MADE Wallet, a mobile application which will help students carry out cashless transactions.
Students will be able to use the I-MADE Wallet through their college’s official Android & iOS mobile app for daily transactions including paying collage and hostel fee and canteen bills besides ordering food and meeting travel expenses and buying books and other study material.
Using the wallet, students can also receive money from parents. Once students download their college’s mobile app and sign in on the wallet, parents can link their account to the wallet and top up it as per requirements. Currently, I-MADE has tied-up with more than 50 colleges and universities in India. The wallet will soon be available to over 20 million students who will be able to use it for transactions involving offline and online merchants, including Amazon and Flipkart, as reported by TechCircle.
Online Rental Marketplace SimplyMoveIn Gets Angel Funding From Swastika CompanyBangalore-based SimplyMoveIn Technologies Pvt. Ltd, which operates online marketplace for curated rental properties SimplyMoveIn, has raised an undisclosed amount in angel funding from Hong Kong-based investment firm Swastika Company Ltd, as reported by TechCircle.
The company will use the funds for hiring across verticals, marketing, augmenting the technology backbone and geographical expansion, said Yash Singh, co-founder and CEO of SimplyMoveIn.
Founded in October 2015 by Singh, Nitin Bighane and Ahmed Shabib, SimplyMoveIn is a rental platform that lists houses available on rent without brokerage, deposits and paperwork. It says it lists curated rental properties after a ground visit by its staff. Users can also see a 360-degree view of the property through a video.
Legal Purchase On ITunes Lands Alleged Founder Of Top Torrent Site In JailKickassTorrents (KAT), the world’s top website for downloading pirated movies, has gone offline after the arrest of its alleged founder, ironically after making a legal purchase from Apple Inc.’s iTunes music store.
Artem Vaulin, a Ukrainian who was involved in designing KAT’s original website and oversaw KAT’s operations, was arrested in Poland. The US government has filed a criminal complaint against him in a Chicago district court and is seeking his extradition, the US Department of Justice said in a statement, reported TechCircle.
“Vaulin is charged with running today’s most visited illegal file-sharing website, responsible for unlawfully distributing well over $1 billion of copyrighted materials,” US assistant attorney general Leslie R Caldwell said in the statement.
The statement added that a federal court in Chicago has ordered the seizure of bank accounts and domain names related to the site.
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This is Chitrakshi Suneja currently pursuing graduation and diploma in journalism and mass communication. She is crazy about Writing stuff on Startups, Entrepreneurs and reading as well.
