Flipkart has raised a latest round of funding from SoftBank
Vision Fund. This is said to be the biggest ever private investment in an Indian technology company and will make the Vision Fund one of the largest shareholders in Flipkart. Continue reading “SoftBank Vision Fund invests in Flipkart to become one of its largest shareholders”
Android creator Andy Rubin has confirmed that the Essential Phone is in “full mass production”. Announced in May, the Essential Phone will finally get a release date sometime next week, said Rubin.
Homegrown cab aggregator Ola has raised a fresh round of funding worth $50 million from New York-based hedge fund Tekne Capital. The latest funding is expected to take Ola’s valuation to $3.65 billion from $3.5 billion in February.
Continue reading “Ola raises $50 million from New York-based hedge fund Tekne Capital”
Android creator Andy Rubin’s phone startup Essential has secured $300 million in a fresh round of funding that values the startup at a $900 million to $1 billion valuation, according to a latest report from Bloomberg. Continue reading “Andy Rubin’s Essential raises $300 million in funding at a valuation of around $1 billion”
Amid potential merger talks with Flipkart, Snapdeal has raised over Rs. 113 crores from Nexus Ventures and founders Kunal Bahl and Rohit Bansal. The latest round of emergency funding comes at a time when Flipkart has signed a binding term-sheet to acquire Snapdeal and is scheduled to undertake commercial and financial diligence in the next few days.
Continue reading “Snapdeal secures more than Rs.113 crores from Nexus Venture Partners and founders”
LeEco is slashing 70 percent of its US workforce or 325 employees, according to a latest report from CNET. These job cuts comes after the company announced its plans to release phones and a video streaming service in the U.S. The Chinese smartphone maker is slashing jobs due to lack of funding.
Continue reading “LeEco cuts 70 percent of its US workforce due to lack of funding”
Homegrown cab aggregator Ola has raised $100 million (Rs 670 crore) in the latest round of funding. Investors in the latest round of funding comes from Falcon Edge Capital and Ratan Tata’s UC-RNT capital, a joint venture between Tata and and the University of California Investments, according to documents filed with the Registrar of Companies on May 2.
Continue reading “Ola secures Rs. 670 crore in funding from Falcon Edge, Ratan Tata”
Amazon has invested Rs. 2010 crore into its Indian operations, according to a report from the Economic Times. This is said to be the single largest investment made by the US based company. The latest investment that was made in November, takes the total capital invested to over Rs 7,000 crore in the last 12 months.
Continue reading “Amazon pumps Rs. 2010 crore in its Indian operations”
SoftBank is all set to invest Rs. 2000 crore in homegrown taxi hailing service Ola, according to a latest report from Economic Times. Ola may raise USD 250-300 million in a new round of funding led by the Japanese telecom and Internet major, and other existing investors may also participate. Continue reading “SoftBank likely to invest Rs. 2000 cr in Ola”
GOQii, the homegrown virtual fitness coaching platform has received an undisclosed amount of funding from Ratan N. Tata.
Continue reading “Ratan Tata invests undisclosed sum in GOQii”
Hike, the homegrown messaging app has raised $175M from Foxconn and Tencent in Series D round of funding that values the company at $1.4 billion.
Continue reading “Hike secures $175M in funding from Foxconn and Tencent”
Uber has raised a whopping $3.5 billion in funding from Saudi Arabia’s sovereign wealth fund. As a result of the investment, Public Investment Fund managing director Yasir Al Rumayyan will join Uber’s board.
Continue reading “Uber secures $3.5 billion in funding from Saudi Arabia”
Chinese smartphone maker Xiaomi has made its first investment in India today by leading a funding of $25 million in Hungama Digital Media Entertainment. The funding round included other existing investors like Intel Capital, Bessemer Venture Partners, and Indian billionaire Rakesh Jhunjhunwala. Continue reading “Xiaomi leads $25 million funding in Hungama”
With an aim to up its game in the fiercely competitive e-commerce market, Flipkart is looking forward to secure a whopping $1 billion in a latest round of funding, according to a report from Tech Crunch.
Continue reading “Flipkart eyeing upto $1 billion in funding, valuation expected to be downsized”
Snapdeal has received a funding of $200 million Ontario Teachers’ Pension Plan (OTPP), Iron Pillar and other investors. The latest round of funding values the company between $6.5 billion and $7 billion, making it the second-highest valued startup in the country. Flipkart owns the top spot as India’s largest e-commerce company and values at nearly $15 billion.
Continue reading “Snapdeal secures $200 million in funding from Ontario Teachers’ Pension Plan”
