The hyperlocal space has attracted a huge amount of funding in the last 18 months, with more than $250 million already raised. According to Assocham-PwC report, about 40 million customers purchased goods online in 2015 and the number is expected to go to 65 million this year.
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The company is looking to utilize the fresh capital towards accelerating business growth and investing in new product lines including micro credit. The company will continue enhancing the Udio product suite including the android / iOS apps for consumers and its rich API stack for business partners.
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For those still in search of their valentine, here’s a Valentine’s Day offer that is “Truly Madly” fantastic. The popular dating app TrulyMadly has partnered with Starbucks, to give the singles an opportunity to meet over coffee at Starbucks. TrulyMadly is celebrating Valentine’s Day in partnership with Starbucks with 50 chosen couples from Delhi, Mumbai and Bangalore. 500 additional TrulyMadly users in these three cities will win a preloaded Starbucks card for Rs.500 to take their date for an evening out on Feb 13.
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In a move to help the fledgling breed of Indian entrepreneurs, RBI today said it plans to smoothen flow of funds to start-ups by allowing them to get foreign venture capital without any curbs and enable easier transfer of shares between residents or non-resident investors. Announcing the plans, RBI Governor Raghuram Rajan said the aim is to simplify movement of capital and do away with regulatory impediments hampering their growth, to create more ‘unicorns’ or companies with billion-dollar valuations.
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There was a time when it was widely believed that “You are worth nothing until you’re profitable”; today this assumption seems flawed. For good, or for bad, media today is abuzz of stories of startups claiming phenomenal valuations and preposterous investments. If media reports are to believed, Flipkart has $2.45 billion, SnapDeal has $1 billion, PayTM has $610 million, Ola has $276.9 million and Quikr has $196 million in investments. What’s actually baffling to many is the fact is that these startups are far from being profitable; their losses are way too much. Obviously one can’t help but wonder as to why do these loss making enterprising are receiving such significant investments?
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LafaLafa is on a mission to make every penny count for Indian consumers with extra cashback savings from 5% to 25% on all their shopping across 500+ ecommerce stores as well as customer education on making better financial decisions. LafaLafa has been chosen for 500 Startups Accelerator programme in Mountain View and are also one of the Indian mobile startups chosen for Facebook’s Global FB Start programme. It recently received seed funding from Hong Kong’s Vectr Ventures. Yosha Gupta, founder of LafaLafa shares her story with BW Disrupt.
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We raised an undisclosed amount of funding in 2015 from few angel investors of Chandigarh and investors from New York. Two key people are Munish Jauhar and Vipul Gautam.
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Whatever you wish will be delivered in a swish! That’s the message JOE HUKUM is sending to all its customers. Joe Hukum, a concierge service startup is out there making a difference to your life! Co-founder Arihant Jain spoke to BW Disrupt and shared his wonderful experience of getting Joe ready for you.
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Bengaluru-based retail technology startup SnapBizz today said it has raised an undisclosed round of funding from veteran industrialist Ratan Tata. This is Tata’s eighth investment in startups in 2016 so far. Tata, former Tata Group chairman, has invested over 20 startups so far. In January 2016, SnapBizz had announced a Series A funding of USD 7.2 million led by Jungle Ventures, Taurus Value creation, Konly Venture and Blume Ventures.
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Ant Financial is not the only payments company raising large amount of funding. The finance unit of rival JD.com - JD Finance - raised $1.02 billion funding round in January, valuing it at $7.2 billion. Another Chinese company, Meituan-Dianping, an online seller of movie tickets and restaurant bookings, has also secured $3.3 billion in January.
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