Connect with us

Latest News

9-10-2017 to 14-10-2017

Published

on

Inspirational Stories 2017,Startup News highlights of the week,startup stories,The News This Week,Apple New Payments Service,Microlending Startup KrazyBee Raises Funds From Xiaomi,Wireless Connector Technology,Flipkart Plans Invest In BookMyShow,WhatsApp New Feature To Share Live Locations,Gorakhpur Gets First Co working Space,Animoji Feature in Apple

The second week of October was filled with good news and billion dollar valuations for major startup companies! The Indian startup ecosystem was also getting ready to adapt cryptocurrencies and forge ahead in the world of blockchain businesses.

If you missed the major news of last week, here’s our weekly wrap up

1. 5G TO COME TO INDIA SOON
India is ready to move on from 4G Internet speeds and start working for a faster network. Telecom operators like Vodafone India, Reliance Jio and Idea Cellular will reportedly come together to create the software required to make 5G a possibility. The three telecom operators will introduce Multiple Input Multiple Output (MIMO) technology to enable the 5G network. The MIMO technology will help increase network capacity by at least 4 to 5 times and increase the speed up to 30 Mbps t0 50 Mbps.

2. ANDHRA PRADESH GOVERNMENT FLAGS OFF THE BLOCKCHAIN BUSINESS CONFERENCE

The Andhra Pradesh Government is all set to make Vishakhapatnam the blockchain capital of India. The second leg of the Blockchain Business Conference was held last week to explore blockchain technologies, its applications and how it impacts the financial services industry. The conference also launched two accelerator programs for startups by ICICI Bank and Mahindra Finance. The accelerator programs will mentor and finance 30 startup companies and help them in solving problems. Notably, the AP Government is the first state to use blockchain pilots and the technology in various departments. 

3. OLA RAISES $1.1 BILLION FROM TENCENT, SOFTBANK AND OTHERS

India’s leading taxi aggregator, Ola raised the largest round of funding in their six year history this past week. The company raised $ 1.1 billion from China’s Tencent Holdings and Japan based SoftBank. This funding round by Ola is the third billion dollar round in a series of billion dollar funding rounds in the Indian startup ecosystem this year. Ola may be valued at $ 7 billion post the latest investment round despite a considerable decrease in valuation in the beginning of this year.

4. RESTAURANT DISCOVERY PLATFORM EAZYDINER RAISES $ 4.6 MILLION

Restaurant discovery and reservation startup EazyDiner raised close to $ 4.6 million in a Series B funding round from new and existing investors. Founded by various veterans of the hotel industry, EazyDiner is also backed by Indian cricketer Yuvraj Singh through his venture fund YouWeCan. EazyDiner is an app based platform that allows users to book tables and offers an EazyDeal with every table booking in the form of a free glass of wine or popular desserts in some of the standalone restaurants and 5 star hotels. Along with DSG Consumer Partners and Saama Capital, the company has added Singapore based venture capital firm Beenext and an undisclosed family office from the Middle East to their investor’s list.

5. FACEBOOK UNVEILS NEW CHEAPER PORTABLE VR HEADSET: OCULUS GO

Technology has evolved over time to a point where virtual reality and augmented reality can be interwoven with real life. Making VR affordable, Facebook recently launched their latest device, Oculus Go which will run with the same VR as the Samsung Gear. Priced at $ 199, the new device will pack a high resolution fist switch LCD screen along with a ‘next generation lens’ and wide field of view. This latest device will also have an added spatial audio with the speakers built into the headset along with a 3.5 mm headphone jack for private listening. According to Facebook CEO Mark Zuckerberg, Oculus Go will be “the most accessible VR experience ever.”

6. TIGER GLOBAL INVESTS $ 2 MILLION IN CHAAYOS

Picking up a considerable stake in the tea industry, global investment firm Tiger Global Management has invested $ 2 million the Gurugram based tea cafe chain Chaayos. According to reports, Ola co founders Bhavish Aggarwal and Ankit Bhati also participated in this internal round of funding along with Powai Lake Ventures and Toppr.com founder Zishaan Hayath. Chaayos, which is run by Sunshine Teahouse Pvt., Ltd., will use these funds to expand their chain to 70 cafes in four locations. The company, which currently operates 30 outlets in Delhi, Noida, Gurgaon, Mumbai, Chandigarh, Ghaziabad and Karnal, is all set to reach the 50 cafe mark by the end of this month.

7. OLA AND UBER SHOULD BE REGULATED: SUPREME COURT

Senior advocate Indira Jaising has raised valid concerns regarding the security of female commuters using the app based transport services like Ola and Uber, after several incidents were reported recently. Responding to Jaising’s concerns, the Supreme Court of India has stated that all app based transport service providers need to be regulated in order to ensure the safety of all female passengers. The Centre has been asked to examine the issue and a bench consisting of Justices Madan B. Lokur and Deepak Gupta have agreed to examine the plea. The National Legal Services Authority (NALSA) was also asked to set up an expert panel to frame a model that sets guidelines and rules to grant compensation to victims under the Victim Compensation Scheme by December 31.

 

That’s all for this week! Subscribe to our portal to never miss updates from the startup world! If your startup has an exciting announcement coming up, you can even write to us at [email protected]. Catch up with the highlights of the week with our The News This Week section.

 

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Pune’s SuperGaming Secures $15M to Expand in Emerging Markets

Published

on

Super Gaming

SuperGaming, the Pune-based gaming innovator known for hit titles like MaskGun and Indus Battle Royale, has raised $15 million in a Series B funding round, boosting its valuation to an impressive $100 million. This marks a nearly fivefold increase from its 2021 valuation of $21 million, highlighting the company’s rapid growth and the rising investor confidence in India’s booming gaming industry. The funding reflects SuperGaming’s strong market presence and strategic vision to become a global leader in online gaming. 

The funding round was spearheaded by Skycatcher and Steadview Capital, with significant participation from notable international investors including a16z Speedrun, Bandai Namco O21 Fund, Neowiz, and prominent Web3 financiers such as Polygon Ventures and Sandeep Nailwal. Existing backers like AET Japan and BACE Capital also continued their support. SuperGaming aims to utilize this capital infusion to expand its footprint internationally, focusing on emerging markets. A key initiative includes launching its award-winning game, Indus Battle Royale, in Latin America through a partnership with LOUD.GG, alongside rolling out its proprietary SuperPlatform developed with Google Cloud to empower game developers worldwide, especially in resource-constrained regions. 

CEO and Co-Founder Roby John emphasized that this funding milestone is crucial in shifting India from merely a gaming consumer base to a hub for gaming innovation. By adopting a “hyper-local” strategy that tailors games to diverse cultures in underrepresented markets like the Middle East and Latin America, SuperGaming is poised for global growth. With over 200 million installs and an expanding user base, SuperGaming’s recent fundraising solidifies its position at the forefront of India’s gaming revolution, ready to make a major impact on the international stage.

Continue Reading

Latest News

Swiggy DeskEats: Office Food Delivery Launched in 30 Cities

Published

on

Swiggy

Swiggy, India’s leading online food delivery platform, has introduced DeskEats, a unique meal delivery service specifically designed for office-goers and working professionals across 30 major cities. DeskEats aims to streamline office dining by offering a diverse, office-friendly menu, making it easier than ever for corporate employees to enjoy convenient and delicious meals right at their workplace. By simply typing “Office” or “Work” in the Swiggy app, users can unlock curated collections like Value Combos, Stress Munchies, Healthy Nibbles, and Teamwork Bites, catering to every office dining scenario—from solo meals to team lunches and quick snack breaks.

Swiggy’s DeskEats is now operational in over 7,000 tech parks and business centers, granting office workers access to nearly 700,000 menu items from over 200,000 restaurants. This vast variety ensures there’s something for everyone, addressing the growing demand for quick, tasty, and nutritious food that fits seamlessly into the busy schedules of working professionals. Early trends from DeskEats’ pilot phase show a strong preference for easy-to-eat options like chicken popcorn in Bengaluru and garlic breadsticks in Gurugram, reflecting the popularity of meals tailored for the modern workday.

Expanding upon its Corporate Rewards Program, which is already trusted by thousands of organizations, Swiggy enables companies to enhance employee wellness programs by offering food delivery, groceries, and dining benefits efficiently. With DeskEats, Swiggy reaffirms its commitment to transforming workplace dining by prioritizing variety, convenience, and user satisfaction—cementing its position as a key player in the evolution of India’s office food culture.

Continue Reading

Latest News

Setu Builds Fintech Powerhouse Leadership Team as Pine Labs IPO Nears

Published

on

Pine Labs

Setu, the API infrastructure platform and subsidiary of Pine Labs, has significantly strengthened its leadership by appointing Prashanth Nimmagada (ex-Razorpay) as Chief Technology Officer, signaling its commitment to innovation in India’s dynamic fintech landscape. Alongside Nimmagada, Setu has welcomed other top industry talent: Vijeth Pandit (ex-Razorpay) as Chief Product Officer, Ramkumar Thirumurthi (ex-Razorpay, co-founder Actyv.ai) as Chief Revenue Officer, Nikhil Ratanpal (ex-PhonePe) as Director of Product Development, and Santosh Subramanian (ex-Yes Bank, Wibmo) as Head of Finance. These high-profile hires accompany Anand Raisinghani’s (ex-SAP India) appointment as CEO, underscoring Setu’s focus on building a strong, experienced leadership bench to drive future growth.

Setu specializes in providing API-based digital financial infrastructure for services such as UPI, bill payments, KYC, and digital signatures, while also operating as an RBI-licensed NBFC Account Aggregator. With this expanded leadership team—drawn from India’s leading fintechs—Setu is well-positioned to accelerate the development of scalable, API-driven financial solutions for banks, fintechs, and enterprises. The influx of expertise from Razorpay and PhonePe veterans will bolster Setu’s technical capabilities and strategic partnerships, ensuring it remains a key enabler in India’s rapidly maturing digital public infrastructure ecosystem.

This leadership overhaul comes as parent company Pine Labs prepares for a major IPO, aiming to raise ₹2,600 crore through a fresh share issue after turning profitable in FY25. Setu’s enhanced leadership reinforces the broader group’s ambitions for international expansion, technological innovation, and financial performance. As Setu solidifies its role at the forefront of India’s fintech evolution, the company is poised to deliver advanced financial infrastructure solutions that support the country’s growing digital economy and drive Pine Labs’ strategic momentum.

Continue Reading
Advertisement

Recent Posts

Advertisement