Startup News

Indian Startup News : June 11, 2017

June 21, 2017
Startup Talky

Alibaba Cloud to Open Data Centre in Mumbai

Alibaba Group’s cloud computing arm Alibaba Cloud will soon establish a new data center in Mumbai. The group also announced to open another data center in Jakarta, Indonesia at the same time. The announcement was made during Computing Conference in Shanghai. The two new data centers are expected to be opened during the current fiscal year which ends on March end of 2018.

Zebpay, Bitxoxo and Unocoin Banking on Bitcoins

With its immense popularity, startups like Zebpay, Unocoin and Bitxoxo are banking on bitcoins to generate better business profits. Sandeep Goenka, one of the founders of Zebpay said “Our Company started as a Bitcoin wallet and we expected people’s interest to be low, but every time we set targets, we surprisingly surpassed them with great margins”. Currently, Zebpay has more than 7 lakh users and is adding one extra lakh to it every month.

Uber Board to Discuss Policy Changes and CEO Absence

Uber board will soon discuss its Chief Executive Travis Kalanick’s temporary leave of absence. The board will also consider bringing new changes to its management practices. It’s still not clear that the company will take any big decision to alter Kalanick’s role, but it is expected that the board will adopt internal management and policy changes recommended by outside attorneys.

Facebook and Assam Govt. to Joins Hands

Global social media platform Facebook has joined hands with Assam Govt. to help startups and entrepreneurs grow their businesses online. Inaugurated in Guwahati by Chief Minister Sarbananda Sonowal, the program focuses on offering entrepreneurs best digital resources, stimulus, and insights to grow and build their business online. Mr. Sonowal said “Facebook’s campaign programs will complement Assam’s entrepreneurs, craftsmen, and artisans with global visibility, which will ultimately help them grow.

Jaguar Land Rover to Invest $25 Million in Lyft

Britain carmaker Jaguar Land Rover which is owned by Tata Motors is going to invest $25 million into Lyft’s ride-hailing business expansion and development for self-driving cars. The investment was made by InMotion Ventures, a mobility services business operated by Jaguar Land Rover that focuses on autonomous cars and other technology. Sebastian Peck, InMotion Managing Director said: “This collaboration will provide a real-world platform to develop our autonomous and connected services”.

Venture Catalysts Announces Business Expansion in Bangalore

One of India’s fastest growing and leading innovation and seed investment platform, Venture Catalysts has announced its business expansion and operation into the city of Bangalore. The development aims to create an integrated pan-India start-up investment and support ecosystem. Venture Catalysts’Bangalore center will be headed bt Mr. Poornima Shastry.

Wow! Momo Raises INR 44 Crore Funding from IAN & Lighthouse Funds

India’s first and largest chain of branded Momos, the Kolkata-based Wow! Momo has secured INR 44 Crore in its Series B funding led by Lighthouse Funds and Indian Angel Network. Lead Investor Sanjeev Bhikchandani said “the team at Wow! Momo has executed business expansion in recent years very well. We recognize the market potential of the company, which leads us to invest here”.

 

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