Daily Archives: March 4, 2016
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NEWS 
March 4, 2016 Sequoia Capital top venture capital investor of 2015
While Sequoia Capital backed 48 start-ups, New Enterprise Associates—the second most prolific venture capital firm—was involved in 44 deals, according to start-up tracker Tracxn. Bengaluru: Sequoia Capital and New Enterprise Associates were the most prolific venture capital firms last year globally in terms of the number of deals, backing 48 and 44 start-ups, respectively. The […]
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ALL DEALS 
March 4, 2016 MakeMyTrip turns to tents, dharamshalas to power growth
MakeMyTrip currently has around 25,000 hotels on its platform and is seeking to expand this number fourfold in the next two years. Photo: Ramesh Pathania/Mint New Delhi: Online travel company MakeMyTrip Ltd is considering offering its users non-hotel alternatives such as dharamshalas, homestays, bed-and-breakfast establishments and tents as it steps up the competition with SoftBank-backed […]
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ALL DEALS 
March 4, 2016 Gingercrush raises seed round from Saha Fund, others
Vadodara-based Gingercrush operates a portal where customers can customise products ranging from shirts and mugs to phone cases and toys. Bengaluru: Gingercrush.com (operated by Swadesh Essfil Private Ltd) on Friday said it raised seed funding in an investment round led by Saha Fund, a venture fund for women entrepreneurs, to scale up its platform. Ankita […]
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NEWS 
March 4, 2016 Zomato chief product officer Tanmay Saksena quits
Food tech start-ups such as Zomato have been struggling to scale their businesses, making wary investors pile pressure on start-ups to reduce cash burn on discounts and overhead costs. The pressure has been trickling down the management ranks. Photo: Ramesh Pathania/Mint New Delhi: Zomato Media Pvt. Ltd’s chief product officer Tanmay Saksena has abruptly left […]
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ALL DEALS 
March 4, 2016 Zimmber set to raise up to $7 million from Snapdeal, others
Zimmber claims to have over 1,000 transactions per day on its platform. Bengaluru: Home services start-up Zimmber, run by Rejuvenate Solutions Pvt. Ltd, is close to raising $6-7 million from online marketplace Snapdeal and other investors, two people aware of the development said. Founded in 2014 by Anubhab Goel, Gaurav Shrivastava and Amit Kumar, Zimmber […]
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NEWS 
March 4, 2016 Infosys, Wipro investments in start-ups not exclusive deals
Infosys and Wipro maintain their backing to start-ups, which are based out of the US, Israel and India, should not curtail the latter from partnering other outsourcing firms, some of which are even their rivals. Photo: Hemant Mishra/Mint Bengaluru: Infosys Ltd and Wipro Ltd have invested over $65 million in 11 start-ups so far, but […]
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NEWS 
March 4, 2016 Zomato turns profitable in 6 markets, including India
Zomato co-founders Pankaj Chaddah (left) and Deepinder Goyal. Photo: Ramesh Pathania/Mint Restaurant search and review website Zomato Media Pvt. Ltd said on Monday that the company has reached operational profitability in six markets, including India. Zomato has also turned operationally profitable in the United Arab Emirates, Lebanon, Qatar, the Philippines and Indonesia. “We can now […]
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ALL DEALS 
March 4, 2016 Ratan Tata invests in B2B industrial goods start-up Moglix
A file photo of Ratan Tata. Photo: Pradeep Gaur/Mint New Delhi: Moglilabs Pvt. Ltd which runs business-to-business (B2B) industrial products marketplace Moglix on Monday said it has raised an undisclosed amount from Ratan Tata, chairman emeritus of Tata Sons Ltd. The company in October raised a pre-series A round of $1.5 million from venture capital […]
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ALL DEALS 
March 4, 2016 TeamLease, Quick Heal listings set grey market abuzz
According to one grey market dealer, TeamLease was fetching a premium of as much as Rs 240-250 per share on Monday before falling later. Photo: Hemant Mishra/Mint Mumbai: The recent initial public offerings (IPOs) by staffing firm TeamLease Services Ltd and IT security solutions company Quick Heal Technologies Ltd are attracting high investor interest in […]
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NEWS 
March 4, 2016 PepperTap shuts operations in six large cities, including Mumbai
In September, Gurgaon-based PepperTap had rolled back operations in smaller towns such as Agra and Meerut after a month-long pilot failed to take-off. Photo: Pradeep Gaur/Mint New Delhi: Hyperlocal delivery start-up PepperTap is shutting operations in six cities, including Mumbai, Kolkata and Chennai, and will be laying off about 400 delivery men—a sign of heightened […]
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NEWS 
March 4, 2016 Why Morgan Stanley’s action on Flipkart is bad news for Indian unicorns
Given that Flipkart is expected to list its shares in the US at some point over the next few years, the valuation estimates of the mutual funds will be an important indicator of how stock market investors will value the company. Photo: Hemant Mishra/Mint Bengaluru/New Delhi: Late last month, Flipkart India Pvt. Ltd, the country’s […]
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CLOTHING 
March 4, 2016 Hopscotch raises $13 million in a round led by Facebook co-founder Eduardo Saverin
The company raised $11 million in 2015. Mumbai: Online baby clothes and products company Hit The Mark Inc., which owns and operates as Hopscotch.in, said on Monday that it has raised $13 million in a Series C round of funding led by Facebook co-founder Eduardo Saverin. Saverin Family Office will join the Hopscotch board and […]
