Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li>After a couple of dull years and a few failures, online grocery in India is back with a bang. </li><li>SoftBank has put in fresh funds in Grofers while Reliance Industries Limited is reportedly looking to buy a majority stake in Grab. </li><li>Swiggy had recently announced its foray into online grocery delivery with Swiggy stores. </li></ul> There was a time when the online grocery vertical had become the hot favourite with major players trying their luck in the game. But soon with failures piling up one over the other, exits were announced. Come 2019 and it seems like it’s going to be the year hyperlocal grocery delivery again. Sector leader BigBasket may become the first unicorn – clock a valuation of $1 billion – of 2019, and food delivery startup Swiggy threw in its hat into groceries with Swiggy Stores. Swiggy, which raised a whopping $1 billion in funding in December, has already piloted the operations in Gurugram and has tied up with <a href="https://www.business-standard.com/article/companies/swiggy-takes-on-bigbasket-grofers-to-deliver-groceries-from-local-stores-119021201294_1.html">3,500</a> local stores. However, these startups will be battling the deep pockets of Mukesh Ambani and the Japanese Softbank. Reliance Industries Limited is <a href="https://timesofindia.indiatimes.com/business/india-business/ril-in-talks-for-majority-stake-in-startup-grab/articleshow/68192744.cms">reportedly</a> in talks to buy a majority stake in Grab, a hyperlocal delivery startup for groceries, medicines and food based out of Mumbai. Grofers has raised <a href="https://tech.economictimes.indiatimes.com/news/internet/grofers-raises-fresh-funds-from-existing-investor-softbank-as-e-grocers-valuation-hits-425m/68203728">fresh funds</a> from SoftBank Vision Fund (the Japanese firm had earlier too invested in the e-grocery company) which takes its valuation to $425 million. This excitement was missing in the space the last few years. E-grocery startup PepperTap had to shut its operations in 2016. In a blog on <a href="https://yourstory.com/2016/04/peppertap-journey-navneet-singh">YourStory</a>, Navneet Singh, founder of PepperTap, wrote about the problem they faced. “The integration of our app with our partner stores was not great. In the race to pepper the whole country with PepperTap, we had brought too many stores online far too quickly,” he wrote. Another unicorn startup Paytm too had explored the e-grocery space with Paytm Zip, only to shut shop in 2015. So, even with clear failures in the past, what makes today’s unicorns still find their way into the space? A simple answer - the demand still exists. Grocery stores aren’t called convenience stores for nothing. For today’s millennial who is busy with work to order groceries on a tap is an easy, convenient way out. A report on the online grocery space in India by Red Seer consulting states, “Inspite of all these disruptions and changes, one thing that did not change was the massive potential for online grocery- as indicated by India’s USD 500+ Bn grocery market out of which a mere 0.2% is online (~USD 1.2 bn overall and ~USD 1 Bn considering only hyperlocal grocery).” The proof that it still works is seen in BigBasket’s <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/bigbaskets-wholesale-unit-revenue-up-35/articleshow/67358734.cms">revenue</a> report. In the year 2017-18, BigBasket saw its revenue grow by 35% while losses dropped by 53%. In FY19, the company expects the revenue to grow by <a href="https://www.moneycontrol.com/news/business/companies/bigbasket-chief-hari-menon-expects-75-revenue-jump-in-fy19-to-rs-3500-crore-3183251.html">75%</a>. Grofers which had posted a net loss of <a href="https://tech.economictimes.indiatimes.com/news/internet/grofers-narrows-loss-to-rs-258-cr-as-sales-double-in-fy2018/68105608">₹268 crore</a> in FY 17, managed to post a loss of ₹258 crore in FY18. The company has also added <a href="https://www.moneycontrol.com/news/business/grofers-eyes-rs-2500-crore-revenue-in-fy19-adds-2-5-lakh-new-customers-in-january-3453911.html">2.5 lakh</a> new customers in January, while also aiming for a revenue of over ₹2500 crore. And with big backers like Mukesh Ambani and Softbank entering the fray, the competition, too, will be intense. The battle for dominance may mean more discounts and cashbacks for consumers. See Also: <a href="https://www.businessinsider.in/swiggy-in-talks-to-acquire-ubereats-india-operations/articleshow/68110377.cms">Swiggy wants more on its plate, in talks to acquire Ubereats India</a> <a href="https://www.businessinsider.in/for-indian-startups-2018-has-been-a-year-of-bouncing-back-as-venture-capital-funding-doubles/articleshow/67286540.cms">For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles</a> <a href="https://www.businessinsider.in/these-are-the-25-most-sought-after-startups-in-india-report/articleshow/65866420.cms">These are the 25 most sought after startups in India: Report</a>

Online grocers are back in business in India with billions more to burn – and that may be good for consumers

New Delhi, May 28 (IANS) India's East Mojo and Minnambalam are among 5,300 small and medium local newsrooms around the world that will receive emergency funding from Google ranging from $5,000-$30,000 (approximately Rs 3.7 lakh-Rs 22.7 lakh), the search engine giant said on Thursday. East Mojo, a digital-only news organisation, said it plans to use the fund to allow journalists to go to remote parts of Northern India to shed light on the impact of Covid-19 once the country's lockdown is lifted. Minnambalam (India), a Tamil language publication from Chennai, said the funding gave them the confidence and financial support needed to carry on with their work. Covid-19 has upended the news industry, hitting local news particularly hard with job losses, furloughs, cutbacks and even closure. To provide some help, the Google News Initiative last month launched the Journalism Emergency Relief Fund. "Applications covering a number of publications under one organization will be capped at $85,000," Ludovic Blecher, Head of Google News Initiative Innovation, wrote in a blog post. "As we await a final funding tally, we expect to spend tens of millions of dollars through the Journalism Emergency Relief Fund," Blecher said. Google said in just two weeks it received more than 12,000 applications from 140 eligible countries, with 90 per cent of those applications from newsrooms of less than 26 journalists. "We reviewed each application against a set of criteria: publications operating locally, serving a specific geographic community and using the money to continue doing so," Blecher said. --IANS gb/na

Google selects 5,300 local news organisations for funding

As per the report ‘<keyword id="3591500" type="UNKNOWN" weightage="100" keywordseo="VCCEdge-Start-up-Funding-Insights">VCCEdge Start-up Funding Insights</keyword>’ from <keyword id="3591499" type="UNKNOWN" weightage="100" keywordseo="News-Corp-VCCircle">News Corp VCCircle</keyword>, which focuses on the funding activity in the National Capital Region (NCR), NCR has witnessed 873 funding deals to the tune of $1,571 million of the total $6,721 million across 3,682 deals ever since 2011. This represents 24% of the total number of deals and 23% of the total deal value. 
 
Last year, however, was a landmark year registering a deal value of $608 million as compared to the $289 million in 2014, but at the going rate, looks like 2016 won’t be able to match this amount, let alone match last year’s performance. The number of deals also swelled 110%, going from 143 in 2014 to 300 in 2015. 
 
Talking of this year, 2016 has until now seen 155 deals worth $170 million, out of which the investment of $17.19 million made by Sequoia Capital India, Omidyar Network India, Maverick Capital, and HBM Partners in the Gurgaon based Healthcare Start-up, 1MG Technologies grabbed the top rank. 
 
On the other hand, online gaming company Gamooz Interactive Solutions’ funding to the tune of $15 million made by angel investors such as Taha Nabee, Anupam Gopal Mittal, Anand Kumar Ladsariya, Devesh Ghanshyam Chawla, Suneel Bandhu and Miten Mehta can be counted as the top Angel/Seed funding deal. 
 
Here are the segment-wise highlights since 2011: 
 
• Food-Tech got the maximum number of deals, having 50 investments worth $28 million 
 
• Travel-techn saw maximum fund flows, bringing in $80 million across 46 deals 
 
• Fin-Tech came second in terms of value and fourth in terms of number of deals, closing 34 investments amounting to $70 million 
 
• Edu-tech space attracted $36 million from 39 deals 
 
• Tech-enabled platforms across other segments such as advertising, real estate, health, and entertainment saw $55 million of funding from 73 deals 
 
However, there has been a fall in the pace of Series A rounds of investment and beyond, which is bound to affect start-ups in the “High-Growth-High-Burn” mode. 
 
“The question we need to ask is whether or not the current startup ecosystem in the region lacks enough high quality startups eligible for Series A &amp; beyond round of investments. The slowdown is attributed to investor pragmatism and selectiveness in funding enterprises that have business models that best optimize the funding they receive. Start-ups have to, perforce, ‘Conserve and Grow, or Perish’. The silver lining we at News Corp VCCircle see is the emergence of new investment vehicles such as venture debt besides a new genre of celebrity &amp; angel investors,” said Ms. Nita Kapoor, Head - India, New Ventures, News Corp and CEO, News Corp VCCircle. 
 
About the author: News Corp VCCircle runs financial news website VCCircle.com, a startup news site Techcircle.in, and the financial data platform VCCEdge. 
 
<a href="http://startupmindset.com/wp-content/uploads/2015/02/rsz_content-780x720.jpg">Image source</a>

NCR start-ups are facing funding crunch; attract $170 million in 2016

India has contributed $500,000 to the <keyword id="4715381" type="UNKNOWN" weightage="20" keywordseo="un-peacebuilding-fund">UN Peacebuilding Fund</keyword>, expressing hope that more funding by nations will boost efforts by the world body to build and sustain peace, according to <keyword id="6367495" type="COMPANY" weightage="20" keywordseo="PTI">PTI</keyword> news report. India has been a member of the <keyword id="3524301" type="UNKNOWN" weightage="20" keywordseo="peacebuilding-commission">Peacebuilding Commission</keyword> since its inception in December 2005 and has so far contributed $5 million to the Peacebuilding Fund. The fresh contribution of $500,000 to the fund will be effected over the coming days. The fund was launched to support activities, actions, programmes and organisations that seek to build a lasting peace in countries emerging from conflict. "We hope that the Peacebuilding F<keyword id="6355835" type="ORGANIZATION" weightage="20" keywordseo="UN">un</keyword>d will be able to attract much greater funding as we go along so that the UN efforts to build and sustain peace can have greater impact on the ground," India's Deputy Permanent Representative to the UN Ambassador <keyword id="3594123" type="PERSON" weightage="20" keywordseo="Tanmaya-Lal">Tanmaya Lal</keyword> said here yesterday at the fund's annual stakeholders' meeting. "India has always argued for comprehensive sustainable development, inclusive economic growth and political processes for preventing conflict as well as undertaking effective peacebuilding efforts," <keyword id="3268" type="PERSON" weightage="20" keywordseo="Lal">Lal</keyword> added. He said that this was obviously not easy and required a long-term commitment and sustained investment, including a vastly expanded funding. He noted that for UN's own peacebuilding efforts to have an impact, a significantly enhanced level of funding is required.

India contributes $500,000 to UN Peacebuilding Fund

<ul><li><keyword id="111876" type="General" weightage="20" keywordseo="bajaj-finance" source="Orion">Bajaj Finance</keyword> market cap stock overtakes that of SBI after the reports.</li><li>Indian financial services company <keyword id="85462" type="General" weightage="20" keywordseo="bajaj-finserv" source="Orion">Bajaj Finserv</keyword> got <keyword id="35210" type="General" weightage="20" keywordseo="sebi" source="Orion">SEBI</keyword> nod to start a mutual fund business.</li><li>The news triggered the shares of Bajaj Finserv and its subsidiary Bajaj Finance to become the top two gainers on the Nifty 50 index.</li><li>The market capitalisation of Bajaj Finance reached ₹4.22 lakh crore while that of Bajaj Finserv stood at ₹2.61 lakh crore.</li></ul>Shares of financial services companies Bajaj Finserv and Bajaj Finance surged as the former received the market regulator’s nod to start a mutual fund business. The shares of Bajaj Finserv reached its one year high of ₹16,584. The company had filed the application on September 28, 2020 to market regulator Securities and Exchange Board of India (SEBI). Bajaj Finance is the subsidiary of Bajaj Finserv. “The Company would be setting up an asset management company and the trustee company, directly or indirectly i.e., itself or through its subsidiary in accordance with applicable SEBI Regulations and other applicable laws,” said Bajaj Finserv in an exchange filing. Another financial services company Zerodha is also waiting for the regulator’s nod to launch a mutual fund business. Frontline Capital Services, Wizemarkets Analytics, Unifi Capital, Alchemy Capital Management and Helios Capital Management are some other companies in line waiting for SEBI’s approval. The ₹35 lakh crore <keyword id="35476" type="General" weightage="20" keywordseo="mutual-fund-industry" source="Orion">mutual fund industry</keyword> has 44 mutual fund houses with HDFC Mutual Fund and SBI Mutual Fund being the top two asset management companies. <div type="image" title="Bajaj finance 2" height="900" width="1200" msid="85589505" hostid="261"></div> Shares of Bajaj Finserv’s subsidiary Bajaj Finance gained 4% on the news to reach a 52 week high of ₹7,049. Moreover, the market capitalisation of the company went up to ₹4.22 lakh crore crossing India’s biggest lender State Bank of India’s market cap of ₹3.71 lakh crore. <div type="image" title="Bajaj finance" height="900" width="1200" msid="85589515" hostid="261"></div> Bajaj Finance and Bajaj Finserv were among the top two gainers on the Nifty 50 index today. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-loses-over-4-million-subscribers-airtel-and-jio-add-over-9-million-in-june/articleshow/85589113.cms">Vodafone Idea loses over 4 million subscribers, Airtel and Jio add over 9 million in June</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/cryptocurrency/news/cryptocurrency-mining-in-iran-easing-but-china-maintain-strict-stance/articleshow/85588848.cms">Iran is bringing back cryptocurrency mining, but China shows no signs of changing its mind</a>

Bajaj Finance gets bigger than SBI after SEBI allows parent Bajaj Finserv to sell mutual funds

<ul><li>Indian health startup cure.fit has raised $120 million in a series D round. </li><li>In May, Business Insider reported that cure.fit had raised $75 million in the first tranche of the round. </li><li>Cure.fit now plans to take up its centres from 180 to 800 in India and Dubai.</li></ul>Indian health and fitness startup cure.fit has raised $120 million in a Series D round of funding. In May 2019, a paper.vc <a href="https://www.businessinsider.in/curefit-raises-75-million-from-anand-piramal-accel-partners-and-others/articleshow/69215063.cms">report </a>said that the startup raised $75 million in the first tranche of the series D round. <keyword id="3465872" type="PERSON" weightage="20" keywordseo="curefit">Curefit</keyword> was founded in 2016 by Myntra co-founder <keyword id="705865" type="PERSON" weightage="20" keywordseo="Mukesh-Bansal">Mukesh Bansal</keyword> and former Flipkart Chief Business Officer Ankit Nagori. It has fitness centres under the Cultfit brand and a health app called Curefit. It also has diagnostic centres called Carefit and yoga and meditation centres called mindfit. "Leveraging deep tech and strong on-ground network, we aspire to service over 100 million consumers over the next 10 years," said Bansal. In three years, the startup registered 4 lakh users for curefit, with 180 centres across Bengaluru, Delhi NCR, Mumbai and Hyderabad. All these provide an annual revenue of $100 million. The company now plans to grow to 800 centres by 2020. The startup has also expanded its operations to Dubai. This recent round was led by Chiratae Ventures, Accel Partners, Kalaari Capital &amp; Oaktree Capital, while new investors like Epiq Capital, Unilever Ventures, Innoven Capital and Kotak Mahindra Bank too chipped in. Curefit’s <a href="https://www.livemint.com/companies/start-ups/curefit-raises-75-million-valuation-crosses-500-million-1557206291458.html">reported</a> valuation is pegged at $500 million, after the latest fundraising. Earlier, the startup also raised funding from Bollywood actor Hrithik Roshan, who is also the brand ambassador since 2017. Roshan had <a href="https://inc42.com/buzz/hrithik-roshan-pours-in-878-2k-in-fitness-startup-cure-fit/">reportedly </a>invested $14.63 million into the startup. See Also: <a href="https://www.businessinsider.in/curefit-raises-75-million-from-anand-piramal-accel-partners-and-others/articleshow/69215063.cms">Three-year old Curefit clocks in $100 mn in revenue and over $245 mn in total funding</a>

Cure.fit raises $120 million in a series D round of funding

<keyword id="138263" type="UNKNOWN" weightage="20" keywordseo="startup">Startup</keyword>s are the next big economic force in India. Close to 4,400 technology startups (July data) exist in India and the number is expected to reach over 12,000 by 2020. India is the world's youngest startup nation with 72 per cent founders less than 35 years. And I see experts pitching (pure PR or negligence) places like UK, Israel, China etc to be the next <keyword id="6357722" type="COMPANY" weightage="20" keywordseo="silicon-valley">Silicon Valley</keyword>. 
 Recently <keyword id="6492870" type="CITY" weightage="20" keywordseo="News-Corp">News Corp</keyword> <keyword id="135682" type="COMPANY" weightage="20" keywordseo="VCCEdge">VCCEdge</keyword> released its Annual Deals Report for CY 2016. Here are a few highlights of the report 
 
• Despite a gloomy year for PE/VC investments, PE Exits, M&amp;A Deals and Fund Raising via IPOs hit 5 Year High in 2016! 
 
• Investors unlocked $6.79 billion worth of investments across 239 exits in 2016 
 
• 633 Domestic M&amp;A deals amounting to $32.77 bn. played a big role in M&amp;A deals hitting a five year high of $61.44 bn. 
 
• Fundraising via IPOs surged to $4.12 billion raised across 93 IPOs 
 
• There were 50 new PE funds launched during the year with a targeted capital of $5.3 bn. – a fall of 11% in number and over 68% in value terms. 
 CEO of News Corp <keyword id="191131" type="PERSON" weightage="20" keywordseo="Nita-Kapoor">Nita Kapoor</keyword> said, “While M&amp;A activity in India perked up in 2016 thanks to a few multi-billion-dollar deals that companies struck either to slash debt or consolidate their market share, what we are seeing is the flow of angel/seed money into enterprises in sectors like fintech, healthcare, education and travel which will continue into 2017. There is a huge funding opportunity for start-ups operating in these sectors that succeed in delivering a good consumer experience.”

$6.79 billion in investments, 633 Domestic M&A deals, India hits a 5-year high

<ul><li>India’s largest private sector bank <keyword id="6354731" type="UNKNOWN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (SBI) is yet again reducing the interest rates on term deposits across all maturities. </li><li>From now on, the <keyword id="3159390" type="PERSON" weightage="20" keywordseo="marginal-cost">marginal cost</keyword> of funds based lending rate (MCLR) for a year will be 8.15% per annum. </li><li>In view of the falling interest rate scenario and surplus liquidity, SBI also realigns its interest rate on term deposits (TD) w.e.f. September 10. </li><li> Recently, the Reserve Bank of India reduced the repo rates by 110 bps.</li></ul>India’s largest private sector bank State Bank of India (SBI) will reduce the interest rates on term deposits across all maturities, starting tomorrow i.e. 10 September 2019. The bank slashed the retail term deposit rates by 25 bps or 0.25%. The bulk term deposit rates have slipped by 10-20 bps. "In view of the falling interest rate scenario and surplus liquidity, SBI also realigns its interest rate on term deposits (TD) w.e.f. September 10,” the bank said. However, while this might come as bad news for those who want to store their money in FDs, those keen on taking loans have some good news in store. The bank also announced a reduction in marginal cost of funds based lending rate (MCLR) by 10 bps. Given that, the MCLR for a year will be 8.15% per annum — which is currently at 8.25%. This is the fifth year that the bank has cut MCLR. Recently, the Reserve Bank of India (RBi) reduced the repo rates by 110 bps, and asked the banks to trim the interest rates in favour of the customers. Under this, the borrowers will directly benefit from the RBI rate cuts.

SBI will cut interest rates on fixed deposits and term deposits by 0.25%

<ul><li><keyword id="10591" type="CITY" weightage="20" keywordseo="Samsung">Samsung</keyword>’s investment arm <keyword id="7850972" type="UNKNOWN" weightage="20" keywordseo="Samsung-Venture-Investment-Corporation">Samsung Venture Investment Corporation</keyword> invested in four <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> in India.</li><li>It has invested a total of $8.5 million.</li><li>One of its investments – Gnana.ai – is aimed at powering Samsung’s voice assistant Bixby with vernacular content. </li></ul>Samsung’s venture capital arm – Samsung Venture Investment Corporation – has placed its bets on four Indian startups with a total of $8.5 million, marking its debut in India. The startups are – system apps company OSLabs (Indus OS), speech technology startup Gnani.ai, IoT solutions provider Silvan Innovation Labs and an early stage computer vision startup. According to Dr Aloknath De, Chief Technology Officer of Samsung R&amp;D Institute, the Indian startup ecosystem has matured over the last few years - with many early stage companies working on Artificial Intelligence, IoT and cloud. “This will be a win-win for both as it will help startups scale their solutions through this deep engagement while we get an opportunity to enrich our offerings to our consumers,” said De. The global phone manufacturer had already been working with OS Labs to launch their new Galaxy Store. It runs Indus App Bazaar which helps in app discovery and improve download experience to consumers in 12 local Indian languages, apart from English. Bixby, which is Samsung’s voice assistant, competes with Amazon’s Alexa and Google Assistant. With its investment in Gnani, Samsung hopes to offer vernacular service through Bixby. Globally, Samsung has made investments totalling up to<a href="https://yourstory.com/2019/07/samsung-investment-85-million-indian-startups"> $2.2 billion</a> since 1999. The VC fund focuses on investing in future-oriented businesses that can work as growth engines. The fund looks at investing in areas like semiconductors, telecommunication, software, internet, bio engineering and medical industry. Samsung had also announced that it will invest $22 billion in the next three years in artificial intelligence (AI), 5G, automotive electronics components and biopharmaceuticals.

You Searched For "funding news india" and got 9 results

Online grocers are back in business in India with billions more to burn – and that may be good for consumers

Sanchita Dash

Google selects 5,300 local news organisations for funding

IANS

NCR start-ups are facing funding crunch; attract $170 million in 2016

Guest Author

India contributes $500,000 to UN Peacebuilding Fund

BI India Bureau

Bajaj Finance gets bigger than SBI after SEBI allows parent Bajaj Finserv to sell mutual funds

Bhakti Makwana

Cure.fit raises $120 million in a series D round of funding

Sanchita Dash

$6.79 billion in investments, 633 Domestic M&A deals, India hits a 5-year high

Gaurav Sangwani

SBI will cut interest rates on fixed deposits and term deposits by 0.25%

BI India Bureau

Samsung’s venture capital arm debuts in India with four investments worth $8.5 million

Sanchita Dash

Popular Keywords

Buying Guides