Indian Startup News,technology,innovation for June 13, 2017
Flipkart to Launch “One-Stop” Mobile App by Year End
Indian Startup news in E-commerce giant Flipkart is getting ready to launch its ‘one-stop’ mobile app by this year end. The application will accommodate users to hire cab, order food, buy daily essentials and plan vacations. Flipkart is already in talks with numerous food, travel and cab aggregator for its ‘one-stop’. Senior Director of Monetisation and New Initiatives at Flipkart – Prakash Sikaria said: “The app is aimed to be launched in December and will follow a WeChat model, where the Flipkart can be used to order food, book cabs or plan your travel”.
Online Sellers on E-commerce Giants Demand for an Ecommerce Regulator
AIOVA – The All India Online Vendors Association, a 2,000+ online seller community, has launched a petition to form an e-commerce regulator alleging a violation of existing marketplace rules of government by e-commerce giants including Amazon, Flipkart, and Snapdeal. The association will submit the petition near Prime Minister Narendra Modi, Commerce and Industries Minister Nirmala Sitharaman and Finance Minister Arun Jaitley.This is one of the latest Indian Startup news for june.
Amazon Leased 6 Lakh Sq. Ft Office Space in Hyderabad
In one of the largest office space deals of the year; Amazon India has leased has leased a massive under construction property in Madhapur suburb area of Hyderabad which measures nearly 6 Lakh sq. ft. The agreement will take place in two phases. In the primary phase, Amazon will occupy 250K sq. ft. space, after which the e-commerce giant will have the option to extend it to 6 Lakh sq. ft. over next one and a half year in the second phase.
White Owl Brewery Raises INR 10 Crore from Angel Investors
White Owl Brewery, a Mumbai-based craft beer maker has raised INR 10 crores from a group of angel investors. The investment also includes hands from Arihant Patni and Amit Patni Group’s family office RAAY. The company plans to invest this fund to better expand its craft beer products to a multiple number of restaurants and bars in Mumbai at first and eventually through traditional retail channels across India.
Silicon Valley-Based 500 Startups to Invest in Indian Startups
500 Startups, the Silicon Valley-based venture capital fund, and the accelerator is going to make 10-12 investments with multiple Indian startups this year. In the first phase of this investment deal, 500 Startups is set to close seven deals starting with the investment in used-goods marketplace Spoyl. The company has already been invested in more than 60 Indian startups since 2012.
Tech-Driven Insurance Startup Digit Secures INR 385 Crore from Fairfax
The tech-driven insurance startup – Digit has secured a funding from Canadian billionaire Prem Watsa’s Fairfax Holdings. Primarily, the startup will begin with a paid-up capital of INR 385 crore, and Fairfox will control 45% share of the firm. The remaining will be controlled by Indian investors led by Goyal. Fairfax has launched its Indian arm Fairfax India and made quite some big investments in numbers of Indian companies across different sectors.
Thane Richard Appointed as Head of Content Strategy by Times Bridge
Thane Richard has been appointed as Times Bridge’s new head of content strategy. Richard will work to shape the content strategy of Times Bridge’s media businesses and magnetize more media companies to the Indian market. Times Bridge’s existing portfolio of partnerships and investments include Coursera, Uber, Vice, Airbnb, Business Insider, Huffington Post, Gizmodo, Lifehacker, PC Mag, Techpost, Goal, Tech Radar and Advertising Age.
Spark10 Starts Specially Designed Cohort for Indian Tech Startups
After successfully running previous two cohorts, Spark10 accelerator has launched its newly designed cohort for Indian tech startups. The company has invested in 13 Indian startups with a collective approx valuation of over INR 50 crore in last 18 months and aims to invest in 20 more promising Indian startups and 10 UK startups in next one and half year.
Goodera Raises $5.5 Million Funding from Nexus & Omidyar Network
The platform that connects non-profit organizations – Goodera has raised $5.5 million in its series-A funding. The investor names include Omidyar Network and Nexus Venture Partners. The company plans to use the fund to strengthen its product lineups and better expand in India and the US. The Goodera platform allows non-profit organizations and companies to completely visualize the progress of their corporate social responsibility projects as well as measure-impact assessment.
HyperTrack Raises Undisclosed Amount in Series A round
The US and India-based startup, HyperTrack Inc. has secured an undisclosed amount of funding in a Series A round led by Founders Fund and Nexus Venture Partners. This is one of the latest updates in Indian Startup news.Founders Fund is primly known for funding global companies such as Elon Musk-led SpaceX, Spotify, and Facebook. FF Angel Fund, a business arm of Founders Fund invested in HyperTrack, which is a location tracking tools providing the platform.