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AR startup Mira bags $1 million for Google Cardboard-like Prism headset
Mira's Prism headset is a lot like Google Cardboard but for augmented reality, and investors at Greylock Partners think that's a cool enough idea they led a $1 million funding round in the startup. The amount brings the total funding raised by Mira to $2.5 million. The startup also started shipping developer kits for its $100 Prism headset to the first set of people who pre-ordered it.
Indians on Google moon mission to blast off anthem on Monday
The only Indian entrant in an international Google contest for landing a rover on the moon - will start its countdown to the space race worth $30 million in prizes with an anthem to be released tomorrow. The anthem for the Indian team, composed by music director Ram Sampath, seeks to encourage every citizen to take part in the mission in some form or the other, TeamIndus said.
Amazon sees growth in smartphone, fashion segments in festive sale
E-commerce major Amazon today said its ongoing festive sales have been the biggest till date, driven by strong growth in segments like smartphones, large appliances and fashion. Amazon's four-day festive sale, which commenced on September 21, clashed with those by rivals Flipkart and Paytm. We have seen 2.5X growth in smartphone sales , 4X increase in large appliances and 7X in fashion sales. This is our biggest ever sale, Amazon India vice president-category management Manish Tiwary told PTI.
India: Amazon buys 5% equity in Shoppers Stop for $27m
Amazon boxes are seen stacked for delivery in the Manhattan borough of New York City, US January 29, 2016. The proposed deal values Shoppers Stop shares at Rs407.78 each. Shoppers Stop will use the funds to continue its investments in expanding physical and online retail businesses, said managing director Govind Shrikhande. We will have the same discounts on Amazon as we carry in our stores, Shrikhande said to Mint.
MakeMyTrip India CEO Rajesh Magow rejoins Flipkart board
When contacted by ET, MakeMyTrip spokespersons confirmed the development. I have always admired Flipkart for the impact it has made in India's e-commerce space over the years, I am happy to join the Flipkart board, Magow said in a short statement. Magow's previous stint on the Flipkart board was between May 2012 and May 2015. In that period Flipkart had raised almost $2.5 billion in funding.
Deliveroo raises $385M in new funding, now valued at 'over $2 Billion'
Total funding for the European unicorn now sits at $860 million. Deliveroo says it wants to rapidly expand into new towns, cities and countries. This will allow more people to order great food quickly to their door from their favourite local restaurants, says the company. As Business Insider reports, Deliveroo grew a lot that year, with revenue up 611 per cent to PS129 million. Losses were up too - a 300 per cent increase to PS129 million.
Unravelling SoftBank's India investment strategy
What isn't quite so evident yet is how it plans to execute that strategy without repeating the mistakes from the past. Snapdeal, which competed with Flipkart, Tiger Global's single largest investment in India at an estimated $1 billion, saw its valuation vault to $2 billion with SoftBank's investment. The implosion of Snapdeal early this year is perhaps the best example of the India strategy gone horribly wrong.
Startups are sharing top executives to save costs
Now, he works as what is called a fractional CFO, for over a dozen startups. For startups that can't afford to spend much money, such fractional CXOs are a huge cost saving. Depending on the experience gaps that the startups are dealing with, Gupta takes on roles in strategy, marketing, hiring or market analysis. For fractional chiefs, a big benefit of working with multiple startups is the ability to apply learnings from one startup to another.
Why millennials are checking into hotels in their hometowns
For the last six months, Gopal Sharma has spent nearly two days every week at a hotel in his hometown Kolkata. It is more convenient because I don't have to spend 1.5 hours travelling all the way home to Howrah. Now, we see more hotels booked in the city of origin. For instance, Akshay Chatur vedi, who lives in Connaught Place, regularly books hotels when his meetings in Gurgaon run late.
For well-funded big boys of ecommerce, profits can wait, discounts can’t
It's been a windfall for online shoppers as they pocketed discounts as high as 90% in the fourday shopping festival that ends today. If the big three of Indian etailing have the urge to splurge, it's because they are flush with funding. Three months later, it was the turn of India's largest ecommerce player Flipkart to bag $2.5 billion from Soft Bank's $100 billion Vision Fund. Early this year, American ecommerce giant Amazon pumped in another Rs 1,680 crore in its India operations.
Tesla Files Patent For A New Battery Swapping Robot That Changes A Battery In 15 Minutes
The company has filed a patent for a new battery swapping robot that can lift a vehicle and change its battery pack for a new one in just 15 minutes. Currently, it takes a little over an hour to fully charge a Tesla car at one of the firm's Supercharging stations. By switching out the battery pack, however, drivers could find themselves back on the road much sooner.
Why building moats that create profitability is important for startups
Over the past few years, many investors and entrepreneurs attempted to create value in startups purely on the back of investing large sums of money. As a result, everywhere you look, you see people talking about how it's time startups got profitable. Instead of asking when a startup will or can become profitable, the real question to ask is if startups are investing in building moats that will create profitability as they mature and grow.
9 Daily Habits Of Millionaires To Adopt Now
While almost everyone aspires to this much-coveted financial status, yet very few are mentally ready to imbibe daily habits which are typical to millionaires. Becoming a millionaire and maintaining that status quo is a matter of utmost discipline. To know what are the nine effective habits of millionaires that you can incorporate in your life to make a difference, read on!
How fund-starved ecommerce ventures have started getting bottom line-focused to stay in the game
The exceptions, of course, are the big boys of ecommerce, who are still attracting huge funding from moneybags like SoftBank and Alibaba. The decade-old-company cut operating losses from Rs 425 crore in fiscal year 2016 to Rs 101 crore a year later. This was enabled by slashing annual operating burn from Rs 411 crore to Rs 77 crore in fiscal year 2017. It may be a similar story for other online ventures for whom the next round of funding looks elusive for now.
Discounts on Amazon, Flipkart & Snapdeal illegal, in violation of FDI rules: Traders' body
Traders' body CAIT today urged the government to take action action against e-commerce firms like Amazon and Flipkart, alleging they have flouted FDI norms for such players by undertaking retail trading activities. The Confederation of All India Traders (CAIT) wrote to Union Commerce Minister Suresh Prabhu in this regard, claiming that the companies were indulging in a blatant violation of the FDI policy. In its complaint, the traders' body demanded that necessary immediate action should be taken against the firms for violation of FDI policy.
Lending startup Prosper has lost more than 70 percent of its value
The online lending startup Prosper said on Friday that it had raised $50 million in new funding, a sum that sharply devalues the stock of what was once a high-flying tech unicorn. Prosper is raising less money in this round than it did in both its 2015 and 2014 rounds, reflecting the tough terrain for alternative lending platforms these days. Prosper said last quarter that it had nevertheless done $775 million in loans and that transaction fees were increasing.
Tesla will discontinue its most affordable Model S this Sunday
The move to discontinue the Model S 75 was first announced by Tesla in July after it dropped the price by $5,000 a few months earlier. The removal of the model from Tesla's offerings follows its discontinuation of the Model S 60 and 60D vehicles in April, which at the time were the least expensive Model S options available.
Amazon's investment arm to buy 5% stake in Shoppers Stop for Rs 180 crore
Amazon 's investment arm plans to buy 5 per cent stake in department chain Shoppers Stop for about Rs 180 crore, indicating its intention to use physical stores as one of its sales drivers in India. FPI is investment by non-residents in Indian securities including shares, government bonds, corporate bonds, convertible securities and infrastructure securities. In contrast, FDI implies investment by foreign investors directly in the productive assets and not financial ones.
Cyber Security Firm Securonix Raises $29 Mn From Volition Capital, Eight Roads Ventures
Cyber security firm Securonix has raised $29 Mn Series A funding. With this investment, Roger Hurwitz of Volition Capital will be joining the Securonix Board of Directors. He further added, Securonix's SNYPR Security Analytics platform is enabling organizations to quickly detect, triage and mitigate the risks of advanced threats. Securonix uses the power of Hadoop and machine learning technology to radically transform enterprise security with actionable intelligence.

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