Indian Startup and Business News #StartupDaily

  1. Bengaluru-based venture partner firm Stellaris Venture Partners has completed the first close of its $100 Mn maiden fund.
  2. Bengaluru-based online lending platform Capital Float has raised about $2.5 Mn (INR 17 Cr) from IFMR Capital Finance and its alternative investment fund.
  3. Indian mobile handset brand, Micromax India will reportedly set up an independent fund to invest in consumer Internet companies worldwide. The fund is expected to raise up to $100 Mn (INR 680 Cr).
  4. Pay-per-use software HyperTrack, which enables businesses to track their executives and products in real-time has announced that Ashish Gupta, co-founder of Helion Venture Partners has joined the board of the company.
  5. Food regulator FSSAI on Saturday issues new guidelines which prohibit e-commerce food companies to run operations without FSSAI license for their entire supply chain. As per the new norms, the supply chain will include the companies Head Office or registered office, manufacturers, transportation, storage and distribution.
  6. Kolkata-headquartered I Manage My Hotel Technologies Pvt Ltd, which provides cloud-based property management solutions for mid-sized hotels, has raised an undisclosed amount from Jaarvis Accelerator.
  7. Taxi-hailing company Uber on Monday launched its on-demand car-rental service UberHIRE in eight cities, through which users can book a cab for as long as 12 hours, said a company statement.
  8. South Korean tech giant Samsung India is planning to launch its mobile payment wallet in India in the first half of 2017, media reports said.
  9. HyperTrack, which enables businesses to track their executives and products through its software, has raised $1.5 million from Chamath Palihapitiy's Social Capital, Ivy Capital, along with a bunch of angel investors like Deepinder Goyal of Zomato and Hari Bhartia of Jubilant Foods, among others.
  10. Adstringo, a Mumbai-based mobile compression software startup, is in talks with multiple venture funds for raising $5 million in Series-A round to fund international expansion and to cash in on cooperative banks; need to facilitate digital transactions. The firm expects to close this round of funding by April.
  11. Telangana Government launched the Kakatiya Hub for Social Innovation in Nizamabad on Sunday, which is expected to be up and running by September.
  12. Indus Valley Partners(IVP), a leading provider of technology solutions to alternative asset managers, announced today the launch of IVP for Private Equity, the leading end-to-end solution designed to manage portfolio companies, deals, cash flows, water falls and expenses under one platform.
  13. In a bid to make the city of Visakhapatnam the fintech hub for the country and the world, Andhra Pradesh’s Fintech Valley Vizagley has launched the first Fintech innovation challenge for India’s leading broking firm, Angel Broking.
  14. CropIn Technology Solutions, a Bengaluru-based startup is now on an onslaught of initiatives to implement the benefit of agriculture technology (AgTech) to the last mile. After securing series B funding, CropIn Technology is now investing 5 million dollars to develop an AI driven new product called, SmartRisk.
  15. ICubesWire, a leading Digital Marketing Solution and concept provider, has elevated Nishant Sharma as Group Head – North. In his new role, Nishant will lead the business operations in the North region with a special focus on business and sales. This move is in alignment with company's strategy of accelerating growth in India.
  16. Moneyfrog.in today went live with its robo advisory mutual fund investment platform. This is one of the country’s first paperless investment destination, where only direct plans are at play ensuring higher returns.
  17. Yatra.com has partnered with YouTube sensation Prajakta Koli. Koli aka Mostly Sane, who has over one lakh subscribers on her channel, will now create a special Yatra playlist called Mostly Yatra.
  18. Social media giant Facebook has selected the fast growing Edtech startup EduRev for its much sought after FB Start program. EduRev will receive credits up to $40,000 and free tools and services from Facebook.
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