Suviral Shukla

Food aggregator unicorn Zomato will reach profitability by 2020, says co-founder Deepinder Goyal

Deepinder Goyal, co-founder and CEO at Zomato, a food aggregator and tech-food unicorn, has announced that the platform will reach profitability by 2020, which is a result of its measure to reduce cash burn, reported Inc42. Goyal said that the...

Mutual funds investment marketplace Nivesh raises $600,000 from The Next Billion Fund, other marquee investors

Nivesh.com, mutual funds investment marketplace, has bagged $600,000 (approx INR 4 crore) from Windrose Capital's The Next Billion Fund, other marquee investors, reported Yourstory. The platform Nivesh will use the infused financials to to improve its tech platform and build...

Offline discovery and rewards space Magicpin passes annual gross merchandise value of $1 billion

Magicpin, an offline discovery and rewards platform, has surpassed annual gross merchandise value (GMV) of $1 billion (approx INR 7,129 crore) in the country, reported Mint. "Our business touched a billion dollars of scale in October…split equally between food and...

Integrated logistics startup Allcargo buys controlling stake in Gati for around INR 416 cr

Marking its foray into the express logistics race, Allcargo, an integrated logistics startup, has reportedly bought a majority stake in Gati Ltd for around INR 416 crore, reported Mint. According to the sources, Allcargo has signed a share purchase agreement...

Punjab govt looks to set up INR 100 cr startup fund to support MSMEs, entrepreneurs

With a view to support the Indian startup ecosystem, the Punjab government is looking to set up an INR 100 crore startup fund to support the MSME (micro, small and medium enterprises) sector and entrepreneurship, reported Inc42. The planning was...

Govt to deploy bigger funds for startup to boost Startup India scheme, says Piyush Goyal

In order to surge the Startup India scheme, which was started by Prime Minister Narendra Modi, the Commerce and Industry Minister, Piyush Goyal, said that the government is exploring to deploy larger funds for startups, cited Inc42. Goyal said that with...

Govt orders e-commerce unicorns Amazon, Flipkart to submit annual compliance reports as per FDI norms

Stating stiff laws against violation of foreign direct investment (FDI) by the e-commerce platforms such as Amazon and Flipkart, the government has now made compulsory for these companies to submit their annual compliance reports as per FDI norms, reported...

Bollywood celebs funded yoga studio chain Sarva bags $2.8 million funding from Fireside Ventures

Backed by top notch Bollywood celebrities such as Shahid Kapoor, Malaika Arora, Sarva, a yoga studio chain, has been able to secured $2.8 million (approx INR 20 crore) in its maiden institutional round from Fireside Ventures, reported Inc42. Post transaction, Fireside’s...

Fintech startup Indyfint raises $2.1 million funding in series A round from clutch of individual investors

Indyfint, a virtual banking space, has raised $2.1 million (approx INR 14 crore) funding in series A round from clutch of individual investors, cited Inc42. The platform Indyfint will use the infused financials to carve out a strategy to enhance...

Sports discovery space Sportido bags undisclosed amount of funding from IP Ventures, others

Sportido, a sports discovery startup, has bagged an undisclosed amount in its second round of funding from IP Ventures, Inflection Point Ventures and SucSEED Venture Partners, reported Inc42. The Noida-based platform Sportido will put the infused capital to enhance its product...

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