Round up of the major headlines that dominated the Startup sector, nationally and internationally.
Mobile payments and commerce platform Paytm has roped in former Amazon India executive Vikas Purohit to lead its payments bank business.
In a bid to bring the Indian startup ecosystem on par with global leaders US and China, Venture Catalysts, a newly-formed seed funding and innovation platform, is looking to raise Rs 100 crore through crowd funding. It plans to deploy in the range of Rs 75 lakh to Rs 1.5 crore per venture. The firm will initially invest in about 15-20 start-ups on an annual basis and scale up the number in the future.
Bengaluru-based newbie airline Air Pegasus has launched offers for startup companies, in a bid to tap into the corporate travel segment.
Haier, one of the world's largest consumer durables company, has hired a Bengaluru-based startup, Ideapoke, to help develop a technology that would enable refrigerators to detect pesticides and harmful bacteria in fruits and vegetables using sensors, a company official said.
Domestic remittance company PayWorld, which recently missed out on a payments bank licence, is planning to raise around $40-50 million to increase its retail touch points from 60,000 at present to 3,00,000 within the next 3 years.
Tesla Motors Inc chief executive officer Elon Musk and other prominent tech executives are pouring $1 billion into a non-profit aimed at creating artificial intelligence that augments humans’ capabilities, rather than making them obsolete.
Fast Brands Pvt Ltd., owner and operator of the brand and online portal www.weddingZ.in, has raised an angel Round (pre series A) funding of Rs 8.2 crore.
Three prominent Indian business families have backed the maiden fund of venture debt firm Trifecta Capital Advisors, highlighting the growing attractiveness of alternative assets for the country's traditional business houses.
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