Indian Startup and Business News #StartupDaily

Latest News from Indian Startup Ecosystem [Funding, Technology, Launch, Collaboration]

One suicide attempt in Ola, Uber driver’s Strike in Bengaluru

Many rounds of failed talk between Ola and Uber driver’s representative & cab aggregators has led to a fresh strike in Bengaluru city. One of the protesters attempted to suicide in front of Ola’s office by consuming poison. Soon he was taken to the hospital and is being treated. Now drivers demand that Ola, Uber should stick to Karnataka’s cab aggregation rules.

Urban Ladder raised a whopping 102 crores

Urban Ladder has raised 102 crores in funding from Kalaari, SAIF Partners, Steadview Capital and Sequoia Capital as well as existing investors. Urban Ladder was founded in 2012 by IIM Bangalore alumni Ashish Goel and Rajiv Srivatsa has Ratan Tata among its investors. It’s competitors include Goldman Sachs-backed Pepperfry and Bessemer Venture Partners and Jungle Ventures-backed Livspace.  

A New Startup by Elon Musk’s to dig tunnels to avoid traffic

SpaceX and Tesla CEO Elon Musk, after joking about digging tunnels to avoid traffic, has set up a startup named ‘The Boring Company’ for digging tunnels for transportation. The company has started digging a tunnel 50 feet below the ground for transportation of cars. Musk has further planned a network of 30 levels of tunnels to accommodate both trains and cars.

Milk delivery services by RailYatri for babies in train

RailYatri- A train travel marketplace has launched a service to deliver warm milk in specially designed spill-proof thermos-like packaging for babies travelling in train. The milk can be ordered via RailYatri app at designated stations and will be delivered to the respective birth of the passenger.

Snapchat marks its IPO at $14 to $16 share

As per some filing, disappearing-photo application Snapchat will offer 200 million class A shares for $14-$16, with an aim to raise $3.2 billion in its IPO. It’s possible valuation would range in between $19.5-$22.2 billion thereby making Snapchat’s IPO the third-biggest technology offering of the last decade. Snap is the first social media company after twitter to go public.

Soon Physical food outlets in India by Amazon

E-commerce giant Amazon has sought the government’s permission to open physical food outlets in India along with an online platform for selling locally produced food items. The unit is set to sell third-party or own private labels of locally produced and packaged products. As per reports, Amazon will invest 3,500 crores over next five years.  

Other News:

Hyderabad-based augmented and virtual reality startup, Imaginate has secured $500K in its Seed round of funding from US-based early stage VC fund, SRI Capital.

Meet The 3 Winners Of Intel & DST Innovate For India Digital Challenge 2.0 – iNICU, Banyan Nation, and AllizHealth were awarded funding support to further their efforts.

Tech giant Google has added another feature to Google Assistant-powered Google Home smart speaker which would allow users to shop for products online.

Subscription-based news startup, The Ken, has raised $400,000 (Rs 2.68 crore) from a clutch of investors.

Apple India Pvt. Ltd, the local arm of Cupertino-based Apple Inc., will soon start assembling iPhones in India at a plant in Bangalore being set up by its Taiwanese manufacturing partner Wistron Corporation 緯創資通.

In an attempt to get a foothold in the Indian air conditioning market, Havells India is in advanced discussions with Lloyd Electric & Engineering Ltd. to acquire its consumer durables business.

Country’s largest dry cell battery manufacturer Eveready Industries India Limited is planning to hive off its packet tea business into a separate entity.

Xander Finance, the non-banking financial arm of alternative investment firm Xander Group, has invested nearly Rs. 300 crore ($45 million) in two residential projects in the country.

Coraza Technologies Pvt. Ltd, which operates personal assistance app Tapzo, has raised an undisclosed amount of funding from Singapore-based RB Investments.

Mi India head Manu Kumar Jain has been promoted as the vice president of Xiaomi to oversee its global operations.

Early stage fund, Axilor Ventures, has tied up with digital payments company PayU India as the industry partner for its Accelerator Program. Axilor has recently announced doubling the intake for its Summer’17 Accelerator Program.

The National Association of Software and Services Companies (NASSCOM) today announced the launch of a Leadership Resource Center (LRC) which, over the next few years would morph into the Nasscom Leadership Academy.

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