1. Infibeam reports 90% rise in revenue in FY18
Infibeam, India’s first listed e-commerce platform has successfully raised its revenue to Rs 839.3 crore in FY18, with an impressive growth of 90 percent on a year-on-year basis. Interestingly, the company has achieved this from its payment gateway business.
2. AI startup SenseTime raises $620 million
World’s most valued startup SenseTime has raised a funding of $620 million led by Alibaba. The valuation after this investment has reached over $4.5 billion.
3. A complaint filed against Flipkart over violations of FDI norms
Indian traders’ body CAIT has filed a complaint against e-commerce giant Flipkart for alleged violation of the government’s FDI policy. Emails have been sent to Flipkart but the company hasn’t replied anything.
4. Mobile payments startup raises $10 million led by Amazon
ToneTag, which offers a unique digital payment solution based on sound wave technology, has successfully raised $8-10 million from a group of investors led by Amazon and Mastercard. ToneTag has partnered with 1 reputed names including ICICI Bank, Yes Bank, Freecharge, and Airtel.
5. New Delhi-based startup Pine Labs raises $125 million
Digital payments startup Pine Labs has raised $125 million led by Temasek and PayPal Holdings Inc combined. Founded in 1998, Pine Labs delivers active point-of-sale payments in India using smart cloud-based payments platform.
6. BigBasket in talks to buy RainCan
Bigbasket is planning to buy RainCan and SuprDaily after knowing the growth of these startups. After Alibaba’s $300 million investment, BigBasket is looking to rule the grocery cum milk delivery in India.
7. Gurugram online lending startup raises $10 million
Online lending marketplace CoinTribe has successfully raised $10 million Series-B round led by Sabre Partners. Existing investor Puneet Dalmia also participated in this funding round and the valuation of CoinTribe has increased to over $15 million.
8. Kunal Shah from FreeCharge raises $30 million for new startup
FreeCharge co-founder Kunal Shah has raised $30 million for his new venture. Several investors have contributed to this investment and Shah is looking to start an incubator which would help startups in consumer space.
9. Tesla will be in India as soon: Elon Musk
Tesla CEO Elon Musk is planning to enter Indian market soon. He gave this information using his Twitter account. Elon Musk tweeted, “Tesla will be there as soon as he believes we should.” Adding that he “would love to be in India”, Musk said “some challenging government regulations” were stopping him to start a business in India.
10. Patil demands a ban on Flipkart for selling weapons
After Aurangabad Police seized 28 weapons including swords, choppers, knives, kukris, and guptis, etc, which were bought from Flipkart, Congress leader Vikhe Patil has demanded that Flipkart should be banned for selling such items.
