Latest News from Indian Startup Ecosystem [Funding, Technology, Launch, Collaboration]
Vivo's new launch in India
Vivo Electronics Corp. a phone brand is another Chinese smartphone maker to enter India recently. They are well known for low-cost android phones and have recently launched Vivo V5Plus which is a dual sim smart phone and runs android 6.0.Vivo V5 Plus comes with a 20-megapixel front shooter for selfies and 16-megapixel primary camera on the rear. The price of this smartphone starts from Rs. 25,631 in India.
Tesla’s Dubai debut causes its stock to reach a new high
Tesla has marked its first foray into the Middle East by initiating the sales of its luxury cars in Dubai. The consumer demand for luxury cars in the Middle East is tremendous although few brands have suffered due to low oil prices. Tesla is not only accepting online orders in UAE but has also opened a store in Dubai mall and service center is being built on Dubai’s Sheikh Zayed Road which will be operational from July. Tesla plans to expand his venture in Bahrain, Oman and Saudi Arabia as well in the coming years. The shares of the electric carmaker rose 4% on Monday. This breaks the record of Tesla'ss all-time closing high in July 2015, rising from $280.02 to $280.60.
Twitter’s stock dips to an all time low
Twitter’s luster has faded on Wall Street after its stock has hit an all-time low today. For the first time, Twitter has dipped below $20 a share. The value of this San Francisco-based social network has reduced roughly by $14 billion this year and its market value has steeped below its IPO day level. Twitter’s Chinese clone is supposedly worth $200 million more than Twitter. The addition of monthly users has not been up to the mark for Twitter and thus has led to this downbeat.
Vodafone-Idea merger, a positive step in telecom industry
Aditya Birla Group and UK’s Vodafone group are in discussion to merge Idea and Vodafone India in an all-share transaction to put up a stronger front to deal with Reliance Joi. Idea cellular’s unfavorable Q3 results have resulted in Vodafone-Idea merger. This is done to create a leading entity in this competitive mobile-phone market and to knock off Reliance Jio from the top spot. As per Swiss brokerage, the newly merged entity will have 35% network capacity share placing Jio in the second spot with 31% network capacity.
Baba Ramdev’s Patanjali and Ruchi Soya seal edible oil pact
Ruchi Soya industry a leading agri & FMGC company has signed an agreement with Patanjali Ayurved for physical refining and packaging of edible oils. The agreement is for a duration of three years.Ruchi Soya industries will process soya, sunflower and mustard oil supplied by Patanjali and will complete the packaging process as per their specifications. Ruchi Soya owns 19 edible oil manufacturing facilities in India. They have a turnover of $4 billion and after the agreement the oil manufacturer’s stock rose up by 20%.
Air India fleet to acquire Airbus 320 neo aircraft
Domestic carrier Air India’s has acquired its first Airbus 320 neo aircraft which will be delivered on 16th February. To enhance the Air India fleet a total of seven Airbus 320 neo aircraft has been obtained. Airbus 320 neo aircraft is fuel efficient and has more seating capacity thus making it passenger friendly. The first flight will be set up on Delhi-Chennai route by the end of this month. Air India fleet constitutes of 24 airbus 320 aircrafts which are being considered to be replaced by the neo Airbus 320 aircrafts.
BookMyShow now has majority stake in Pune-based Townscript
BookMyShow has declared that they have made a vital investment in Pune-based Townscript and now holds 75% of its stake. Townscript is an online (Do-it-Yourself) event registration and ticketing platform. It was founded in early 2014 and helps in registration and ticketing needs of small and medium scale events such as exhibitions, conference, sports events like cycling races, marathons, college festivals adventure treks etc. BookMyShow plans to expand its venture in B2B event organizing category.
CAPITAL FLOAT rasied $42 Mn funding
Capital Float is a Bangalore based nonbanking finance company which is registered with RBI. It is an online platform and provides working capital for small and medium scale businesses. They offer short-term loans to borrowers who can opt for desired repayment terms and the fund gets credited in their bank accounts in 3 days. The venture has managed to raise $25 million in series B funding, led by Creation Investments Capital Management LLC. Along with the help of existing investors like Sequoia, Aspada and SAIF Partner they have raised a fund of $42 million in February.