Ed-Tech Startup Prozo Raises Pre-Series A Round from a London Based VC FirmProzo.com, an online marketplace for buying and selling study material, has raised its pre-Series A round of funding from a London-based venture capital firm and two affluent individuals, as reported by
TechCircle.
Prozo, operated by Global Edu4Share Pvt. Ltd, has raised Rs 2.1 crore ($315,000) through a preferential allotment of shares. The round was led by London-based venture capital firm Earlsfield Capital. Two Delhi businessmen, Sailender Solanki and Rajiv Solanki, also participated in this round.
Eyewear Etailer Lenskart Gets Funds from PremjiInvestEyewear retailer Lenskart has raised funding from PremjiInvest, the private investment arm of Wipro Ltd chairman Azim Premji.
Lenskart CEO and founder Peyush Bansal told
TechCircle that PremjiInvest is the only investor in this follow-on round of funding. The funding amount is still undisclosed by the company.
The transaction comes barely four months after Lenskart secured Rs 400 crore ($60 million) in a Series D round that was led by World Bank arm International Finance Corporation and included investment from TPG Growth, IDG Ventures, Adveq Management, Tata Sons chairman emeritus Ratan Tata and Infosys co-founder Kris Gopalakrishnan.
Over 1 Million Tickets booked on Paytm’s Travel Marketplace in Aug ‘16Paytm, Indian mobile payment and commerce platform, has registered over 1 million flight and bus ticket bookings on its Travel Marketplace in August. The company expects 2x growth in the travel business over the next 6 months.
Paytm’s bus tickets business recently turned break-even. The Hotels category is expected to turn break even very soon and the Flights bookings has been organically scaling at a 4x month-on-month growth since its launch in May. In its drive towards creating the country’s best cashless travel ecosystem, Paytm will soon launch new categories and ancillaries. To fuel this growth, the company will further invest INR 300Cr on its travel business.
Being modeled as a marketplace, Paytm has multiple sellers providing various travel services to customers. This allows the platform to offer a diverse selection at the most competitive prices. Paytm offers a unique opportunity for travel service providers to gain access to its 130 million strong and growing user base.
The company has set up a 100+ member team in its Bengaluru office to drive innovation in the category. This move is an important step in the vision of making cashless transactions a way of life across all consumer segments and demographic profiles in India.
Reliance Retail Fashion eCommerce Unit Ajio's Head Sanjay Mehra QuitsHead of Reliance Retail's fashion ecommerce unit Ajio, Sanjay Mehra, has quit barely a year after joining, reported
ET.
Mehra, who joined the Mukesh Ambani-led retailer in July last year, is said to be leaving because of some differences with the management, the sources said.
RGPV Launches $3M Corpus For StartupsRajiv Gandhi Proudyogiki Vishwavidyalaya (RGPV) has formed a corpus of $3 million (INR 20 Cr). The objective of the corpus is to encourage students to take up entrepreneurship and for funding startups. RGPV has also decided to invite entrepreneurs on October 1, 2016 to select ideas for startups from students, as reported by
TOI.
Petroleum Minister Dharmendra Pradhan Urges PSUs To Form Startup Fund In Energy SectorPetroleum Minister Dharmendra Pradhan on Tuesday urged the public sector undertakings to create start-up funds, in order to promote innovation and nurture new ideas in the energy sector, reported
BusinessStandard.
"I am advising my CEO friends in PSUs that if Ratan Tatacan put his private funds for start-ups and if Narayana Murthy can do that for new start-ups, then why cannot you," Pradhan said addressing a conference on methanol organised by the NITI Aayog.
"ONGC has already offered Rs 100 crore for start-ups. Can we create a synergy in innovation and this kind of start-up fund. This can be a win win situation for all of us. Let us create a platform for our young Indians and scientific brains," he said.
Digital Content Provider YAAP Buys Brand Planet Consultants For $3MDigital content service provider YAAP has acquired Brand Planet Consultants for $3 million in an all-cash deal.
Post-acquisition, Brand Planet will be rebranded as YAAP. The deal will help YAAP with its global expansion plan towards marketing its technology tools into branding practices, such as product packaging and logo designing.
As part of the deal, the founders of Brand Planet Consultants, Anjan Roy and Shouvik Roy, will join YAAP’s digital management team as senior partners.
