StartUps

BigBasket raises $300M led by Alibaba

By : CIOL Writers

Bangalore based online grocery delivery startup BigBasket has has raised $300 million in a fresh funding round led by Chinese e-tailer Alibaba. The funding round also saw participation from other investors such as UAE-based private equity investor Abraaj Group, Sands Capital,

Zomato raises $200M from Ant Financial

By : CIOL Writers

Indian online food delivery startup Zomato has raised $200 million in a funding round led by Alibaba Group. The funding round was led by Ant Small and Micro Financial Services Group, a subsidiary of Alibaba Group. The fundraising is expected to

Budget’18: Niti Aayog to spearhead National Programme on Artificial Intelligence

By : CIOL Writers

Startup industry doesn’t have much to take away from Budget 2018 barring two major announcements. Firstly, Finance minister, Arun Jailtey said that the government would invest in research and development in areas such as robotics, machine learning, and artificial intelligence.

Lyft opens its first European office in Munich

By : CIOL Writers

Ride-hailing firm Lyft has announced its first office in Munich, Germany. The company said that the hub’s main focus will be self-driving vehicles, with a “talented group of new colleagues” working on simultaneous localization and mapping (SLAM) for level 5 autonomous cars — or

Uber launches dockless, ebike-sharing service called Uber Bike

By : CIOL Writers

Uber has announced its new venture for users in San Fransisco. The company has launched a dockless, electric bike-sharing service named Uber Bike in partnership with New York City-based e-bike company called Jump. Jump’s contract with the San Francisco Municipal Transportation

Uber sells Xchange Leasing unit to Fair.com

By : CIOL Writers

Ride-hailing firm Uber has sold its car-leasing unit Xchange Leasing to digital car marketplace Fair.com. However, the financial details of the deal were not disclosed. Fair has formed a partnership with Uber in which it will be the exclusive long-term vehicle

Pinterest hires Chuck Rosenberg to head its computer vision unit

By : CIOL Writers

Pinterest announced that it is hiring former Google computer vision research head Chuck Rosenberg to be the company’s new head of computer vision department and lead its visual discovery engineering team. Rosenberg, while at Google was responsible for image search and

CureFit raises $10M in debt financing from HDFC and Axis Bank

By : CIOL Writers

Bangalore based health startup CureFit has raised $10 million in debt financing from HDFC Bank and Axis Bank. The startup plans to raise more going forward to fund its capital expenditure (CapEx). Started in 2016 by Myntra co-founder Mukesh Bansal and

Ola kickstarts international expansion with Australia

By : CIOL Writers

India’s local cab-aggregator, Ola is taking its first step towards international expansion, starting with Australia. Ola, which counts Didi as an investor, announced today that it will soon begin inviting private vehicle owners and driver partners to work with it in the cities of

Judge dismisses Benchmark’s lawsuit against Travis Kalanick

By : CIOL Writers

A judge dismissed investment firm Benchmark’s lawsuit against former Uber CEO Travis Kalanick, bringing an end to one of the biggest VC-founder battles. Benchmark was responsible for Kalanick’s ouster from Uber. The venture firm and early investor in Uber filed

HERE Technologies acquire indoor maps provider Micello

By : CIOL Writers

Here Technologies has announced that it has acquired California based Micello, a privately held software company that operates a platform for creating, editing and publishing indoor maps. Ankit Agarwal, CEO of Micello, said, “This is an exciting opportunity for Micello

Udacity announces Nanodegree- a program for flying cars

By : CIOL Writers

Online education company Udacity has opened applications for the Flying Car Nanodegree Program. The program aims to move beyond remote-controlled drones to autonomous or self-flying ones. People interested in the program can apply until February 7, 2018. The program will include two

Wine 3.0 lets you run Windows apps in Android devices

By : CIOL Writers

Wine, a software that enables users to run Windows apps on Linux and other Unix like operating systems is now available for Android devices. Codeweavers, which makes the Wine app, has announced the stable release of Wine 3.0 for Android. The

Nazara acquires majority stake in e-sports gaming firm Nodwin Gaming

By : CIOL Writers

Mobile gaming company Nazara Games has acquired 55 percent stake in Gurgaon based e-sports gaming firm Nodwin Gaming. After this acquisition, Nodwin will become an independent subsidiary of Nazara. With this acquisition, Nazara aims to strengthen its portfolio of offerings in

SaaS startup Paperflite secures $400K seed funding led by The Chennai Angels

By : CIOL Writers

Chennai based Software as a Service(SaaS) startup, Paperflite has secured a $400,000(Rs 2.5 crore) seed funding in an investment round led by The Chennai Angels. The round also saw participation from Like Mind Ventures led by Krishnan Srinivasan and a group

Paytm launches Business app aimed at small merchants

By : CIOL Writers

Days after the launch of WhatsApp Business App Paytm has come up with a similar application. The digital payments network has launched Paytm Business App for Android users which lets new merchants sign up quickly and get a Paytm QR code.

RailYatri acqui-hires food delivery startup YatraChef

By : CIOL Writers

Noida based RailYatri, a crowd-sourced platform that provides travel-related information to passengers has acqui-hired food delivery technology startup YatraChef. The YatraChef team will now manage pan India supply side of RailYatri’s in transit delivery business. The financials of the deal

Dassault Systèmes to set up a 3DEXPERIENCE center for students in Andhra Pradesh

INDIA: Dassault Systèmes and Andhra Pradesh State Skill Development Corporation (APSSDC) have signed a Memorandum of Understanding to set up a 3DEXPERIENCE Center to make students industry ready in the field of Aerospace & Defense, Automotive, and Shipbuilding on the 3DEXPERIENCE

Goomo acquires B2B vehicle rental website WagonBee

By : CIOL Writers

Goomo, an omnichannel travel tech firm has announced the acquisition of WagonBee, the Noida based B2B vehicle rental website. The details of the acquisition were not announced by both the companies. Varun Gupta, CEO, Goomo, said, “The acquisition of WagonBee will

Snap lays off around two dozen employees amid slow user growth

By : CIOL Writers

Snap is laying off around 24 employees, according to reports from The Information and Cheddar. The reports stated that most of the layoffs have been from Snap’s team of human editors on its content team, though Cheddar reports some Snap