India: Online eyewear retailer Lenskart to aggressively expand offline

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Valyoo Technologies Pvt. Ltd, which runs online eyewear retailer Lenskart, is eyeing earnings of Rs3,000 crore in the next five years as it aggressively expands its offline presence. Valyoo wants to open some 2,000 franchise stores in that period, a top executive said. “At the end of the day, we… Read more »

How Norway’s Telenor survived telecom turmoil in India

For Norway’s Telenor ASA, a little over three years after it entered India, the choices were stark: quit the world’s second-largest telecom market and write off its billion-dollar investment, or pivot to a stripped-down but risky survival strategy. It decided to stay. Telenor still had to write down more than… Read more »


Apollo Health targeting $76.9m fund-raise from private equity

Apollo Health and Lifestyle Ltd. (AHLL) is looking to raise as much as Rs 500 crore ($76.9 million) from private equity players to expand the number of its clinics in India. The company is a subsidiary of Apollo Hospitals Enterprises Ltd., the first corporate chain of hospitals in India. Their… Read more »


India: Paytm set to roll out its hyperlocal business

Electronics payments company and marketplace Paytm, run by One97 Communications Ltd, is all set to roll out its hyperlocal business within the next 10 days and expects more than half of its sales to come from this channel by the end of 2016, a senior company executive said. The hyperlocal… Read more »


India: Smartphones maker Mircomax invests in price comparison platform Scandid

Smartphones maker Micromax Informatics Ltd on Wednesday said it has invested in Scandid, a mobile-first product and savings discovery platform, for an undisclosed amount. Launched in June 2012, Scandid is a free mobile shopping discovery and price comparison app that helps customers compare prices and discover discounts across e-commerce platforms… Read more »


Redington India to acquire 70% of Linkplus Bilgisayar of Turkey

Redington (India) Ltd, a supply chain solutions company, has agreed to acquire 70% of Linkplus Bilgisayar Sistemleri Sanayi ve Ticaret AS of Turkey for an undisclosed amount. In its filing to BSE, Redington said its stepdown subsidiary Redington Gulf FZE has entered into a definitive agreement to acquire 70% of… Read more »


India: Grofers in early talks to raise $120m in fresh capital

Delhi-based hyper-local delivery start-up Grofers, run by Locodel Solutions Pvt. Ltd, is in early talks to raise $120 million in fresh capital largely from Japan’s SoftBank Corp. and Russian entrepreneur and venture capitalist Yuri Milner, according to two people aware of the development. Existing investors Tiger Global Management and Sequoia… Read more »


India: Schoolguru raises $3m for enhancing technology, content library

Schoolguru Eduserve Pvt. Ltd, a technology-led specialized academic services organization, has raised $3 million (about Rs.20 crore) in a Series A funding led by high net-worth investors (HNIs) from India and the US. The investment will be used for enhancement of its technology platform, the company said in a statement.This was… Read more »


India: Food tech start-up Dazo shuts down, barely a year after its launch

Food tech start-up Dazo has decided to wind up operations barely a year after it came into existence, signalling the end of a bull run for food tech businesses. The company, which was initially called Tapcibo, used to aggregate meals from partner restaurants and took care of last-mile delivery to… Read more »


India: IDG Ventures ropes in Infosys cofounder Kris Gopalakrishnan as an adviser

Infosys co-founder Kris Gopalakrishnan, also an active investor in startups, has joined IDG Ventures India as an adviser, as per a report in The Economic Times. The appointment of Gopalakrishnan comes a month after Ratan Tata, former chairman of Tata Sons, joined the advisory board of IDG Ventures. In his… Read more »