17th January 2018 | Daily Business Digest
#TopNews: UIDAI Adds Face Recognition As Added Layer Of Aadhaar Verification
In order to mitigate the chaos surrounding the security of Aadhaar details of the citizen, UIDAI has introduced another measure — Aadhaar face recognition. The move will come into effect from July 1, 2018.
#Indian Startup News
#1. IPO Of IT Company Newgen Software Subscribed 18% On Day 1
New Delhi-based IT company Newgen Software’s IPO has registered a slow growth on day one of its opening and has been subscribed just 18%. The IPO subscription will get closed on January 18, 2018. With this IPO, Newgen is offering 13.4 Mn shares at an Issue price of $3.77 — $3.85 (INR 240-INR 245) per
#2. Baba Ramdev Led Patanjali Looks To Drive Sales With Ecommerce Help
Haridwar-headquartered Patanjali Ayurved has officially launched its ecommerce operations. As part of the move, which is aimed at reaching more customers, the Baba Ramdev-led FMCG company has entered into strategic partnerships with eight ecommerce firms, including Amazon, Flipkart, Paytm Mall, Bigbasket, Netmeds, Grofers and Gurugram-based 1mg.
#3. Amazon Prime Inks Content Deal With Zee Music Company For Amazon Prime Music
Ecommerce major Amazon has inked a content deal with Zee Music Company for its upcoming music streaming service, Amazon Prime Music. The deal will add over 450 film soundtracks in Hindi and regional languages alongside 250 independent artist-created content to Amazon Prime Music’s existing catalogue of Indian and international songs.
#4. Alibaba Brings Its Enterprise Chat App DingTalk To India
Taking the battle with Tencent funded chat app WeChat further, Alibaba-owned messaging platform DingTalk has now launched an English version of the app for India and Malaysia. Like team collaboration tool Slack, the messaging app caters to the communication needs of small and medium-scale enterprises.
#5. Micromax To Launch India’s First Android Oreo Go Powered Smartphone
Gurugram-headquartered consumer electronics company Micromax is set to launch the country’s first Android Oreo Go-based smartphone by the end of January. Dubbed as Bharat Go, the smartphone will be equipped with the newest edition of Google’s Android mobile operating system.
#6. Jaarvis Accelerator Shut Down Operations In India, Write Off Investments
Gurugram-based Jaarvis accelerator shut down its operations in India after two years of inception The accelerator is also in process of writing off its investments in the portfolio startups. As per an ET report, the former co-principle of Jaarvis accelerator Saumyajit Guha who left in October 2017, has confirmed the development.
#7. AngelList Brings Its Syndicates Platform To India
Silicon Valley-headquartered AngelList has announced the launch of its Syndicates platform in India. The Syndicates platform allows investors to invest in promising tech startups alongside experienced VCs and angel investors. Syndicates allow experienced technology investors to create a single investment fund that raises money from institutions and other angel investors.
#8. India Presents A Vast Economic Opportunity For Israel, Says PM Modi
Addressing the India-Israel Business Summit that took place in the capital yesterday on the eve of Israeli Prime Minister Benjamin Netanyahu’s six-day visit, PM Modi stated said that there is a new energy and purpose that has invigorated India-Israel ties over the last few years and would help take this cooperation to greater heights.
#9. Newgen Software Raises $20 Mn From Anchor Investors Ahead Of Its IPO
New Delhi-based IT company Newgen Software has reportedly raised around $20 Mn (INR 127.39 Cr) by selling shares to its institutional investors as part of anchor book allocation. The company is all set to open its $71 Mn (INR 450 Cr) IPO today for a three day period ending on January 18, 2018.
#10. YES BANK, in partnership with LetsTalkPayments and PricewaterhouseCoopers, has launched the second cohort of its fintech startup accelerator, YES FINTECH.
Here is the list of eight startups that will be part of YES FINTECH’s Autumn Cohort:
Balance Technology: Based in Bengaluru, Balance is a personal savings app that allows users to save the petty change and invest in mutual funds. Balance enables financial education and product adoption through adaptable goals.
Karza: Headquartered in Mumbai, Karza provides cloud-based solutions for lending decisions and aims to assist lending institutions in addressing critical issues of NPAs and loan frauds through big data.
Sentimer: Sentimer is a Spanish fintech startup that offers AI based customized solutions for customer acquisition, cross-selling and customer service.
Pingal: Founded in 2017, Mumbai-based Pingal Technologies is focused on analytics that acts as a workbench for intelligent dashboard creation.
Fyle: Specialising in intelligent employee reimbursement and expense automization, Fyle is a Bengaluru-based startup that was founded in 2016. The platform’s solutions link to email, consumer apps and other platforms, geared towards streamlining the sharing and processing of expenses within a company.
FinBit: Delhi-headquartered FinBit was launched in 2016, with the aim of providing solutions to automate the process of reading and analysing bank statements helping underwriters in understanding a customer’s financial behaviour.
bNESIS: Based in Warsaw, Poland, bNESIS is a fintech startup focused on building a unified API service that reduces the complexity of integration with multiple clouds, social, payment, analytics and other services into mobile apps.
Dov-E: Launched in 2013 in Israel, Dov-E is a startup utilizing sound waves to provide seamless, secure, quick and easy mobile payments.
#Crypto News
#1.Bank Of England Drops Plans For Its Own Cryptocurrency, Fearing Instability
#2. JioCoin — India’s Biggest Conglomerate to Launch its Own Cryptocurrency
#3. Japan’s Largest Bank to Launch Cryptocurrency Exchange
As bitcoin trading becomes the new mainstream in Japan, leading financial firms are stepping in to offer services to preserve their market share.
#4. Cornell Researchers: Bitcoin Not as Decentralized as Assumed
Cornell University researchers, using the Falcon Relay Network, have concluded that neither of the two most popular cryptocurrency blockchains, Bitcoin and Ethereum, are as decentralized as once thought.
#5. China Central Bank Identifies ”3,000 Fake Blockchain” Platforms — Law Enforcement to Coordinate Against Cybercrime
This week China’s central television CCTV 2 reported the Peoples Bank of China PBOC, its Ministry of Public Security, in coordination with other regulatory agencies, will work to combat cybercrime
#6. New Cryptocurrency Exchanges Proliferate in South Korea Despite Regulation
New cryptocurrency exchanges are rushing to launch in South Korea despite regulatory uncertainty due to high demand and lucrative business models. Ten crypto platforms are expected to open for busines
#7. France Appoints a Cryptocurrency ‘Mission Leader’. Week after week regulators and governments have been announcing plans to regulate digital currencies like bitcoin.
#8. Companies Deny Having Bitcoin or Blockchain Services Amid China’s Clampdown
After Xunlei was questioned about Initial Miner Offerings IMO, multiple public companies clarified that they did not and will not tap into the blockchain space.
#9. Some UK Mortgage Lenders Refuse to Serve Bitcoin Investors
British bitcoin investors trying to use their earnings to buy real estate are facing difficulties in securing loans from mortgage lenders. Several building societies refuse to work with them
#10. Google Search Volume for Bitcoin Keywords Increased by as Much as 1000% During 2017
Following bitcoin’s incredible performance and increased media coverage during 2017, there is no doubt that bitcoin has witnessed increased user adoption.
#11. Coingeek Funds Terabyte Block Initiative for Bitcoin Cash With 3.6M Euro
On January 15 the cryptocurrency media outlet and blockchain company Coingeek owned and operated by the financial tycoon Calvin Ayre announced funding an initiative called the ‘Terab Project’
#12. Luno Exchange Bank Account Frozen by Malaysian Tax Officials
Over the past few weeks, regulators and financial institutions have been reacting to the worldwide popularity of bitcoin and other cryptocurrencies.
#Tech News
#1. Honor says the Honor 8 won’t receive Android Oreo
#2. You can now fit your Home Mini to a wall with this official $15 mount
#3. Xiaomi Mi A1 Android 8.0 Oreo update resumed after brief suspension
#4. Flaw in VR porn app leaves 20,000 names exposed
#5. Ripple turns investor as execs lead $25M round for storage and rental startup Omni
#6. BMW acquires Parkmobile parking app to help tackle city traffic
#7. Google nipping at Big Auto’s heels in the race to build self-driving cars
#8. Moto E5 leaked with rear fingerprint scanner, may arrive April 3
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