130 Indian startups may land $700m in a year; E-commerce rules: InnoVen study

By
Posted

In FY2016, more than 50% bootstrapped start-ups and 45% angel-funded start-ups expected to turn profitable, whereas only 22% VC-funded companies expected to turn profitable. The report said 130 companies are expected to raise $700 million in the next 12 months.

Exclusive: India’s PickMyLaundry in ‘final talks’ to raise $1m from angel investors

By

PickMyLaundry is in final talks to raise $1 million in pre-Series A round of funding.


India: Hyper-local discovery app Magicpin raises $3m

By

Magicpin offers features where users can take pictures and selfies to avail of offers and discounts at neighbourhood stores.


India: Advantage Club raises $400k from Mumbai Angels, Purvi Ventures, others

By

Advantage Club, which focuses on providing curated privileges in the luxury segment as well as other essentials, plans to use the funds to enhance its product with analytical feature.


Indonesia: Mitra Adiperkasa opens MAP EMALL; UberCHOPPER launched in Bali

By

PT Mitra Adiperkasa Tbk (MAPI), Indonesia’s lifestyle retailer officially launched today their online store MAP EMALL, said the company in announcement.  US’s Uber Technologies, Inc., the mobile application that is transforming how people commute in cities around the world, is bringing UberCHOPPER to Bali on Feb. 19.


Locked in fierce battle with Didi Kuaidi, Uber says it is burning $1b a year in China

By

Uber and China’s Didi Kuaidi, backed by Chinese technology giants Tencent Holdings Ltd and Alibaba Group , have both spent heavily to subsidize rides to gain market share, betting on China’s Internet-linked transport market becoming the world’s biggest.


Amazon quietly roping in ‘on-demand’ drivers to hasten delivery & slash logistics bill

By

The move, which has not been announced publicly, is the latest sign that the world’s biggest e-commerce company wants to control more of its own deliveries.


India to give broader e-commerce definition as customs officials demand clear rules for incentives declared under FTP

By

After scrapping plans for defining the marketplace model followed by online retailers in India, the commerce ministry will soon come out with a broader definition of e-commerce.


India: E-commerce startup icustommadeit raises $4m in fresh investment

By

Pune-based e-commerce startup icustommadeit.com has raised $4 million in pre-Series A funding. Investors include Brand Capital, a unit of media conglomerate Bennett Coleman & Co Ltd., Siddhivinayak Skyscrapers, Dinesh Challa and a corporation whose name was not disclosed. The funds will be used to launch in other countries, and marketing the brand in… Read more »


India: Ecommerce fashion retailer Myntra reopens mobile website

By

Online fashion retailer Myntra will reopen its mobile website on Tuesday, as it seeks to avoid missing out on customers, especially first-time web users, who don’t use the company’s mobile app. The move comes nearly a year after it shut its mobile site. Myntra, which is owned by Flipkart, has… Read more »