10th January 2018 | Daily Business News
#TopNews: 15 Startups Battle It Out At The Live Pitching Round Of TECH Rocketship Awards
The UK government’s Department for International Trade (DIT), India and the British Deputy High Commission, Bengaluru hosted the 2017–18 TECH Rocketship Awards’ live pitching round today. As per the official statement, shortlisted startups will move on to the Grand Finale, which will be held in Mumbai during next month’s India-UK Createch Summit.
#Indian Startup News
#1. Fintech Startup NiYO Solutions Picks Up $13.2 Mn Series A Funding
Bengaluru-based fintech startup NiYO Solutions has secured $13.2 Mn (INR 85 Cr) in Series A funding from Social Capital, JS Capital LLC, Horizons Ventures and existing investor Prime Venture Partners. With the newly-raised capital, the startup will focus on diversifying its product suite and hiring new talent.
#2. SME Lending Startup Lendingkart Raises $4.7 Mn Debt Funding From Dutch Bank
Ahmedabad-based SME lending startup Lendingkart has raised $4.7 Mn (INR 30 Cr) in its first-ever foreign debt funding round from a Dutch development bank — Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (FMO).
#3. Digital Entertainment Startup Kinsane Raises $2.5 Mn In Angel Funding
Kinsane Entertainment Inc, a global digital entertainment company has raised $2.5 Mn funding from an undisclosed consortium of angel investors. Kinsane Entertainment, Inc., is a US corporation, and it operates in India through its subsidiary, Kinsane Digital LLP.
#4. Paytm Sets Up Its Wealth Management Division Paytm Money
Vijay Shekhar Sharma led fintech startup Paytm has set up its financial products arm Paytm Money Ltd. Paytm Money will focus on building investment and wealth management products for its users. Paytm Money has been registered as a wholly owned subsidiary of Paytm’s parent firm One 97 Communication Ltd.
#5. Google Lunar Xprize: ISRO Calls Off Contract With TeamIndus
India’s first aerospace startup, and one of the five contenders of Google Lunar Xprize Competition, TeamIndus seems to have hit a major roadblock. As per reports, the startup’s contract with ISRO has been called off. For the launch, TeamIndus had signed a contract with the commercial arm of ISRO, Antrix Corporation.
#6. Video As A Service Startup Hippo Video Raises Funding From Kae Capital
Online video-as-a-service (VaaS) platform Hippo Video has raised an undisclosed amount of Pre Series A funding from Kae Capital. Headquartered in Chennai, Hippo Video helps create, edit, host and track videos. As per the official statement, the newly-secured funding will be utilised to expand the startup’s present to Europe, apart from India and the US.
#7. Digital Payments App PhonePe Gets Out Of Flipkart Shadow; To Offer Independent Fintech Solutions
Following in the footsteps of its sister entity Ekart, Flipkart-owned digital payments arm PhonePe is now geared up to develop independent fintech solutions, particularly insurance and mutual products. Besides fulfilling the Flipkart’s needs, PhonePe is also building solutions that are correlated to its knowledge expertise.
#8. Phase 2 Of BharatNet Will Be Completed Ahead Of Time: Telecom Minister
The first phase of the Indian government’s BharatNet programme has been successfully completed, said Telecom Minister Manoj Sinha during a media interaction yesterday. As part of Phase 1, over 100K gram panchayats (GPs) have been connected with optical fibre.
#9. NITI Aayog To Frame Policy On Electric Vehicles: Cabinet
Government-appointed think tank NITI Aayog will be responsible for framing the policy on electric vehicles. During a Cabinet Secretary Pradeep Kumar Sinha-chaired meeting yesterday, it was also decided that the implementation of the EV policies will be carried out by all concerned ministries.
#TechNews
#1. SanDisk announces 1TB USB-C flash drive, says world’s smallest
#2. Zagg might have finally figured out screen protectors for curved displays
#3. Razer’s Project Linda turns your phone into a laptop
#4. Apple rolls out new update to fix the CPU bug
#5. Sony launches a bunch of new headphones and adds Google Assistant functionality to the line
#6. Xposed Framework gets Oreo support in latest beta
#7. Nextbit Robin Smart Save cloud service to shut down March 1
#8. Hulu now has over 17 million subscribers
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