11th & 12th January 2018 | Daily Business Digest
#TopNews1: IIM Bangalore Launches ‘Women Startup Programme’; Online Training For 12000 Aspiring Entrepreneurs
Indian Institute of Management Bangalore (IIMB) has launched ‘Women Startup Programme’. With an aim to train budding women entrepreneurs, the NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) at IIMB has propelled this programme with funding from Goldman Sachs and the Department of Science & Technology, Government of India.
#TopNews2: India’s peer-to-peer(P2P) lending platforms have come together to form the Association of P2P Lending Platforms.
The first-of-its-kind association will act as a representative for its members as well as the country’s P2P lending industry. The association will be headed by i-Lend founder Shankar Vaddadi, with Faircent founder and COO Vinay Mathews acting as the Vice President. Bhavin Patel, founder and CEO of LenDenClub, will serve as the association’s Secretary, while Bhuvan Rustagi, co-Founder and COO of Lendbox.in, will be its Treasurer.
#Indian Startup News
#1. Embassy Group Fuels $15.6 Mn In Coworking Space WeWork India
Real estate giant Embassy Group has fueled another $15.6 Mn in its coworking space JV WeWork India. 10 Mn compulsorily convertible Series B debentures with a face value of $1.6 (INR 100) each, will be allotted to Embassy Group, according to the latest MCA filing by WeWork India.
#2. Healthtech Startup HealthAssure To Invest $15 Mn Over The Next Three Years
HealthAssure, a seven-year old heathtech startup providing access to primary care to insurers and corporates across 1,000 cities, has announced plans to invest $15 Mn over the next three years.
#3. CBA Capital Makes First Close Of Early Stage VC Startup Fund At $15.6 Mn
Bengaluru-based education-focused VC fund CBA Capital has raised $15.6 Mn (INR 100 Cr) towards the first close of its fund, Education Catalyst Fund or ECF. The VC fund will focus on backing startups at Pre-Series A, Series A, B and C equity rounds.
#4. Amazon Patni JV Appario Retail Raises $18.8 Mn Funding From Parent Frontizo
Appario Retail, the seller entity formed under the joint venture between Amazon and Patni Group, has raised $18.8 Mn (INR 120 Cr) funding from parent Frontizo Business Services. The development comes less than a month after the Delhi-based company received a capital infusion of $15.69 Mn (INR 100 Cr) from its parent entity.
#5. Cab Aggregator Ola Looks To Set Up Operations In Australia And New Zealand
Home-bred cab aggregator Ola is reportedly looking to set up operations in Australia and New Zealand. The move is aimed at accelerating growth, while also furthering investor Didi Chuxing’s plans to capture the globe ride-hailing market. In line with its expansion goals, Ola has already set up teams in Dhaka, Bangladesh and Colombo, Sri Lanka.
#6. InMobi Acquires Los Angeles Based Adtech Startup AerServ For $90 Mn
Indian mobile adtech company InMobi has acquired Los Angeles-based mobile mediation and revenue management platform AerServ for $90 Mn in a cash-and-stock deal. The acquisition aims to create industry’s first ad mediation platform with a unified programmatic auction for mobile in-app publishers.
#7. Moneytor Raises Seed Funding From 500 Startups And Others
Mumbai-based stressed receivables management firm Moneytor has raised an undisclosed amount of funding from 500 Startups, fintech accelerator ISME ACE. The round also saw the participation of a few angel investors including Satyen Kothari, founder and CEO of Cube Consumer Services and former executives of Dun & Bradsteet.
#8. SalesPro Raises Funding From Silicon Valley VC
Bengaluru-based SalesPro has raised an undisclosed amount of funding from a Silicon Valley-based VC firm 37.37 North Capital. Dealing with customised market research and sales strategy, SalesPro, currently, boasts a presence across global markets including North America, Canada, Mexico, Europe, the Middle East, Africa, Singapore, Australia, and India.
#9. Government Permits 100% FDI In Single Brand Retail
Ahead of the Union Budget 2017–18, the Cabinet has approved 100% FDI through the automatic route in single brand retail. Up until now, foreign direct investment of up to 49% was permitted under the automatic route. Beyond that, government permission was required.
#10. India Finds International Takers For UID Project Aadhaar
Amid the much controversy related to privacy and data security, India has found international takers for its Unique Identification (UID) project also known as Aadhaar. Russia, Morocco, Algeria, and Tunisia have indicated their initial interests in developing the Aadhaar kind of identification system in their own territories.
#11. SRI Capital Leads $3 Mn Funding In Financial Advisory Firm IndianMoney
Bengaluru-based financial advisory startup IndianMoney has raised $3 Mn (INR 19 Cr) in a Series A funding round led by SRI Capital. The round also saw the participation of existing angel investor Hyderabad Angels. With the fundraise, IndianMoney is looking to scale up operations and increase its user base.
#12. 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.
#13. Santhosh Kumar Quits JLL, Joins Anuj Puri’s ANAROCK as Group Vice Chairman
Santhosh began his career in 1998 as Finance Manager with Chesterton Meghraj, was elevated to Chief Finance Officer in 2000 and became a member of the Board of Chesterton Meghraj to advise on key strategic planning issues and make recommendations on major business initiatives and financial decisions.
#14. Fabogo, Glam-tech Startup, Introduces 0% Commission for Transactions
Fabogo, a flagship product of Mazkara Internet believes that the first step of making the model successful is to provide the customers with various options and varieties to choose from, in turn enabling the merchants to bring maximum number of their customers on the platform.
#15. Zeta Digitises IIM Lucknow Campus with its Cashless Solution
Once implemented, IIM Lucknow students will be able to carry out cashless transactions in a crowd-free campus.
#16. B2B Ecommerce Site B2BAdda.com to Invest Rs 15Mn to in Physical ‘Experience Zones’
These experience zones form a key element of their expansion strategy and in promoting ecommerce among B2B customers.
#17. Orix Japan invests $25M in Indian Self-Drive and NBFC Operations
The foray into self-drive through MyChoize and affordable housing finance are likely to be the engine of growth for the future.
#18. Daaki Plans to Re-engineer Sports Nutrition Domain through its Angel Funding
Daaki plans to focus and expand its marketing operations pan India as well as overseas when they close next round soon.
#19. Dudleys Eyes for an Investment of $1.5M
Dudleys is dusk to dawn chain, introducing premium gourmet burgers in India. It has a wide variety of burgers ranging from chicken and lamb to slow roasted duck, pork and fillets of tenderloin seasoned with in house spices and topped with in house sauces. Apart from burgers it also offers a range of milkshakes.
#20. Health Foods Startup True Elements Raises Rs 5 Cr from RPSG and Others
“Given that majority category buyers are still offline, it is only prudent for us to get into that space. We are surely going to get into offline, but with strong focus on cost-to-serve in these markets. However, we are predominantly a digital brand, and believe that technology would continue to be the mainstay of our business,” the startup said in a statement.
#CryptoNews
#Quote: Warren Buffett to CNBC when questioned about Bitcoins and cryptocurrencies
I get into enough trouble with things I think I know something about. Why in the world should I take a long or short position in something I don’t know anything about.
#1. Singapore based XinFin Unveils Blockchain Powered TradeFinex Platform
Powered by their XDC Protocol, the launch of TradeFinex platform will enable peer-to-peer contracting between financiers, suppliers and beneficiaries thereby minimizing the role played by intermediaries.
#2. Andhra Pradesh State Government First in India to Use Blockchain Technology for eGovernance
This kicked off the use of blockchain startup Zebi’s Zebi Chain: a blockchain based big data solution for governments and enterprises.
#TechNews
#1. Google bought a UK startup that turns screens into speakers
#2. Jaguar unveils in-house developed GT car
#3. Apple servers currently signing older iOS updates, users able to downgrade from iOS 11
#4. Apple Delays iPhone 6 Plus Battery Replacements Until March-April Due to Limited Supply
#5. Tesla Model S and Model X used as emergency vehicles by private fire department
#6. Honor 9 Lite With Quad Camera Setup, Android Oreo Based UI to be Launched Soon as a Flipkart Exclusive
#7. Skype starts testing new ‘private conversations’ with end-to-end encryption
#8. Samsung is the latest OEM to unlock FM chips in new phones
#9. Ripple announces XRP trial with cross-border remittance firm MoneyGram
#10. SanDisk announces 1TB USB-C flash drive, says world’s smallest
#11. Zagg might have finally figured out screen protectors for curved displays
#12. Razer’s Project Linda turns your phone into a laptop
#13. Apple rolls out new update to fix the CPU bug
#14. Sony launches a bunch of new headphones and adds Google Assistant functionality to the line
#15. Xposed Framework gets Oreo support in latest beta
#16. Nextbit Robin Smart Save cloud service to shut down March 1
#17. Hulu now has over 17 million subscribers
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