6th January 2018 | Daily Business Digest
#TOPNEWS: New Android malware targets apps of Indian banks: Quick Heal
Internet security firm Quick Heal Security Labs says it has identified a new Android malware that can masquerade as more than 200 banking apps including some Indian ones.
Called Android.banker.A2f8a, the trojan — a program disguised as legitimate software — is designed to steal login credentials, hijack text messages, upload contact lists and text messages on a malicious server, display an overlay screen (to capture details) on top of legitimate apps and execute other such malicious activities
#CryptoCurrency
#1. Facebook To Explore Cryptocurrency: Mark Zuckerberg
What’s in a Bitcoin? Now, social media baron Mark Zuckerberg wants to explore the power the cryptocurrency, as a technology and also as an important means to empower decentralisation. The Facebook founder wants to explore how cryptocurrency can be enabled in Facebook services.
Facebook COO Sheryl Sandberg has welcomed the idea to integrate crypto technology in Facebook services, “Grateful as ever for your leadership and look forward to working with you and our colleagues on these important issues this year.”
#2. The insurance companies have tied up with IBM and Cateina Technologies to create a blockchain-based solution for KYC, medical records, and agent track records while flagging fraudulent transactions.
After SBI, ICICI, Axis Bank and many other banks having already rolled out blockchain-based solutions as pilot projects, more than a dozen insurers including HDFC Life, India First Life and Canara HSBC OBC, have now jointly started another blockchain project to help rein in costs for companies running medical tests and evaluations, reports ET
#3. Cryptocurrency: Bitcoin Exchanges To Approach AAR Over GST
Clueless about under which GST slab Bitcoin falls, cryptocurrency exchanges in India are now approaching the Advance Authority of Ruling seeking clarification over the applicability of tax rates. According to an ET report, seven Indian Bitcoin exchanges, which include Zebpay, Unocoin, CoinSecure and BtcxIndia, have planned to approach the Advance Authority of Ruling (AAR) for clear answers to these questions. AAR is a quasi-judicial body that can decide the applicability of GST slab.
Optimus Prime: Springrole is the decentralized LinkedIn on the blockchain(Springrole.com).
Engineers from Carnegie Mellon, top notch advisors from IBM, Science Blockchain, MySpace and already partnering with Civic.
#Indian Startup News
#1. Uber Founder And Former CEO Travis Kalanick May Reportedly Sell 29% Stake For $1.4 Bn
Uber co-founder and former CEO Travis Kalanick is reportedly planning to sell a third of his shares in the ride-services company for about $1.4 Bn, as per a person familiar with the matter.
#2. Lingerie Startup Buttercups Raises Funding From Rajan Anandan, Others
Bengaluru-based online lingerie startup Buttercups has raised an undisclosed amount of funding from Google India MD Rajan Anandan and angel investor Chandra Chappadi. Existing investors Kanwaljit Singh and Anand Chandrasekaran also participated in the round. The investment was made through online deals platform, LetsVenture.
#3. Paisabazaar To Get $31.58 Mn Funding From Parent Firm EtechAces
Paisabazaar, the online financial services arm of digital insurance aggregator PolicyBazaar, has received a funding commitment of $31.58 Mn (INR 200 Cr) from its parent firm EtechAces Marketing and Consulting. This is part of $78.9 Mn (INR 500 Cr) pre-IPO fund raised by EtechAces in October 2017 from True North and IDG Venture Partners.
#4. Ebix Acquires Remittance Business Of Transcorp International For $7.4 Mn
ItzCash parent Ebix has entered into an agreement to acquire the Money Transfer Service Scheme (MTSS) business of Transcorp International. As per the official statement, the acquisition has been made through one of its Indian subsidiaries, EbixCash, for around $7.4 Mn.
#5. Pidilite Industries to acquire majority stake in CIPY Polyurethanes
Mumbai-based adhesives maker Pidilite Industries Ltd has received board’s approval.
#6. Jewellery chain Joyalukkas shortlists bankers for IPO
#7. RP-Sanjiv Goenka Group invests in health foods startup True Elements
#8. Lighthouse-backed Bikaji Foods firming up IPO plans
#9. Tata Global Beverages sells entire 31.85% stake in Sri Lankan joint venture
#10. Rabo Equity invests in Olive Bar; Aditya Birla PE exits
#11. Warburg Pincus-backed Lemon Tree Hotels gets SEBI nod for IPO
#12. Eight Roads Ventures leads $10 mn round in Chennai-based eye care products retail chain Specsmakers
#13. IvyCap nears final close of second fund
#14. Norwest leads $32 mn round in Ess Kay Fincorp; BanyanTree exits
#15. Wadhwani Foundation floats accelerator programme
#16. Kae Capital-backed B2B e-commerce portal Wotu raises fresh funds
#17. Uber co-founder Kalanick plans to sell 29% of stake
#18. BCCL invests in online lending firm FinReq
#19. Subhash Chandra Foundation floats platform to mentor startups
#21. Progressive Media Platform Chaaipani Raises Investment From Marquee Entrepreneur-Investors
The company’s focus now is to build a curated, engaged community audience through online and offline storytelling.
#22.
#X. Winners Of The 5th Edition Of Wharton India Startup Challenge
The 22nd Wharton India Economic Forum (WIEF) has announced the winner of the YES Bank — Wharton India Startup challenge, which concluded in Mumbai today. Out of the top 10 finalists, three startups made it to the final pitching round. Eduvanz Financing won the Judge’s Choice Award along with $12K; SpotDraft won the People’s Choice award along with $6K, while Saral Design won the Startup Exhibition Award and $2K prize money.
Founded in 1996, the Wharton India Economic Forum (WIEF), is an annual conference hosted by the students of Wharton School at the University of Pennsylvania.
It is a global business forum focussed on understanding and engaging with India’s startup landscape. Hosted by the WIEF, the annual Wharton India Startup Challenge (WISC) is aimed at promoting entrepreneurship in the country.
#Global Startup News
#1.
#Tech News
#1. amsung and LG say they don’t slow phones with older batteries like Apple
#2. Drone collides with US Army helicopter, puts 1.5” dent in rotor
#3. First supermoon of 2018 falls on New Year’s Day
#4. Porsche’s stunning Tesla rival may be cheaper than expected
#5. Several people were able to unlock the bootloader on the Verizon Pixel 2
#6. Apple now offering iMac Pro for in-store pickup
#7. Estonia’s Plans to Build a Digital Nation Using Blockchain Are Taking Shape
#8. Chrome OS will allow Android apps to run in the background
#9. Facebook deletes accounts of Chechnya leader hit with US sanctions
#10. Apple is making its $29 battery replacement pricing effective immediately
#11. Climate deniers beat Google and topped the page on searches for “climate change”
#12. The iPhone is once again the best-selling tech product of the year
#13. Kidnappers release cryptocurrency boss after receiving £750,000 ransom in bitcoin
#14. You can now pre-register for the Honor View 10 on Amazon India
#15. Xiaomi’s ‘full display gestures’ prepare us for a future without software buttons
#16. A new version of the Nokia 3310 with 4G is on its way
#17. Apple’s iPhone is the best-selling tech product of 2017
#18. LG shows off the world’s first 88-inch 8K OLED display
#19. Xiaomi Mi A1 is receiving its Android 8.0 Oreo update
#20. WhatsApp Crashed For 1 Hour, Restored as India Welcomed 2018
#21. Google takes down Chrome extension that was secretly mining for cryptocurrency
#22. You’ll be able to use Android Auto without any wires this year
#23. Elon Musk starts 2018 with $1M for tunneling plan after ‘boring’ caps sell out
#24. Smartphones with removable batteries are never coming back
#25. Google Maps No Longer Lets You Post Negative Reviews About Your Crappy Job
#26. Iran reportedly blocks Telegram, Instagram amid protests
#27. Telegram for Android now supports multiple accounts
OmniROM’s Android 8.1 Oreo builds go on a weekly update schedule
#28. Apple clarifies that all iPhone 6 and later devices are eligible for $29 battery replacements
#29. UK eyeing ‘extremism’ tax on social media giants
#30. Drones are being used to deliver blood, saving lives in Africa
#31.New Nokia Handset Being Launched On January 5th
#32 .WhatsApp no longer supports BlackBerry and Windows Phone
#33. Intel’s chip with AMD will use Radeon Vega graphics cores
#34. North Korea accused of stealing $25K in cryptocurrency
#35. Amazon patents a mirror that dresses you in virtual clothes
#36. Intel’s processors have a security bug and the fix could slow down PCs
#38. Micromax to launch first Android Go smartphone this month
#39. Google brings its mysterious Fuchsia OS to the Pixelbook
#40. Twitter Called on to Take Action Over Trump’s “Nuclear Button” Post
#41. Facebook was the biggest distributor of fake news, study finds
#42.Upcoming LG ThinQ TVs will support Google Assistant and Amazon Alexa
#43. Netflix confirms the expected ‘Bright’ sequel is on its way
#44. Idea Cellular to raise $1.1 bn ahead of Vodafone merger
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