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Sequoia India invests $3m in Satya Paul brand owner Genesis Colors
Genesis Colors, the owner of luxury fashion labels such as Satya Paul, plans to sell shares to the public to fund expansion and provide an exit opportunity to its investors. The group's brands such as Satya Paul, premium lingerie brand Bwitch and an accessories business are housed under Genesis Colors. The Genesis group has joint ventures with British brand Burberry, Italian menswear brand Canali and Villeroy & Boch of Germany for tableware.
Shenzhen bourse to facilitate Indian tech startups' access to Chinese investments
The China-based Shenzhen Stock Exchange is creating a platform which will facilitate access of Chinese capital for Indian fin tech companies and technology based startups. The Tech 2.0 platform which already exists for Chinese companies will now be extended for new generation of Indian tech companies-called as Cross-border Capital Services Platform. The platform will be operated by Shenzhen Securities Information Co, Ltd, a wholly owned subsidiary of Shenzhen Stock Exchange.
Juicero may be the absurd avatar of Silicon Valley hubris, but boy is it well engineered
Ben Einstein, general partner at Bolt, served upthis excellent teardown of the Juiceroon the company blog. If you were wondering how a juice press could possibly cost $400. Without getting into the nitty-gritty the gist is that this thing is extremely overengineered in the most fabulous possible way. Everything is custom, using the best processes and materials, and lots of ingenuity and care is on display at every level.
Scrumpt now offers fresh, healthy lunches for kids
Scrumpt, the healthy lunch for kids startup that debuted at TechCrunch Disrupt San Francisco in 2015, recently launched lunch meal kits with fresh food. Before, Scrumpt was only focused on non-perishable foods and required parents to supplement the lunches with items from home. Now, parents can use Scrumpt as a one-stop shop for their kids' lunches one week at a time. Scrumpt's spring menu offers 14 options, including a pretzel slider with turkey, roasted chicken wraps and a fruit, yogurt and granola parfait.
Flush with funding, Instacart accelerates US expansion
Grocery delivery startup Instacart recently closed a $400 million Series D round of funding at a valuation of $3.4 billion. Now, the company is putting that capital to work by accelerating its expansion across the US, and offering free Instacart Express memberships to entice new users wherever it goes. New customers in Texas and the Midwest will be able to try its Instacart Express membership free for 1 year.
As part of its cost cutting drive, Snapdeal vacates 'Awfis' in Mumbai
The company does not want to operate out of the co-working space in Andheri anymore and has already moved it. Its sales team was working out of Awfis, a co-working company in Mumbai, said a person directly aware of the details. Snapdeal chose not to respond to a detailed email from ET seeking comments. As per reports, Snapdeal laid off about 600 employees from the Gurgaon office last month.
Jolt for Ola in Bengaluru as SBI decides to stop disbursing loans to their drivers
With nearly a fifth of its loan book in Bengaluru defaulting, State Bank of India has stopped vehicle loans to drivers plying cars for Ola in the city. We (still) disburse loans to Ola vehicles in Hyderabad and Chennai (where) the default rate is almost 7%, said Kansal. Bankers are of the view that loan defaults started after drivers' incomes fell sharply as Uber and Ola cut down on incentives.
Facebook launches telco infrastructure accelerator with Orange
The partnership will look to pursue the best innovations and talent within the sector, Orange notes, with the selected startups getting mentorship from Facebook; other TIP members ; and Orange. Facebook is looking forward to working with Orange and TIP to support this start-up accelerator, said Jay Parikh, head of engineering and infrastructure, Facebook. Working together, we hope to help identify and support telecoms network infrastructure innovation while helping pave the way for future breakthroughs.
Samsung to Update Software Over 'Red Screen' Problem in S8 Smartphones
Electronics giant Samsung will this week offer an unusually early software update for its newly- released Galaxy S8 phone, it said today after some consumers complained of red-tinted screens. The Galaxy S8 started over-the-counter sales in the US and its home market but South Korean users who pre-ordered the phones complained their screens displayed an unusually reddish hue.
VLCC buys Vanity Cube for home delivery
Vanity Cube, a flourishing two-year old startup has to-date served over 50,000 customers in Delhi and Mumbai, with around 60% customers availing a repeat order within 45 days of first service. Vanity Cube is one of the earliest entrants in the on-demand beauty space and currently operates in Delhi NCR and Mumbai region. Customers are now beginning to see the value and therefore the ticket price as well as acceptance of the service is increasing, said a person familiar with Vanity Cube.
You could see the Union budget getting presented in November
First, they scrapped the rail budget and made it part of the main budget. Then, they convinced all states to accept the GST, radically changing the tax regime in the country. The current way of doing things is a relic of an age-old accounting system that was instituted in 1867 by the British. Earlier this year, the budget presentation date was advanced by almost an entire month, from the last day of February to 1 February.
Snapdealsale: SoftBank hopes Nexus Venture to come on board
Japan's SoftBank is hopeful of getting a nod soon from co-investor Nexus Venture Partners to sell Snapdeal to India's largest e-commerce firm Flipkart. According to sources, Softbank - the largest shareholder in Snapdeal- has been successful in getting Kalaari to agree to the deal but is yet to get Nexus Venture Partners on board for the same. This should come through in the next one or two weeks and the deal may get announced next month, they added.
Recharge, which lets users book hotels by the minute, just launched in New York
Recharge is an interesting startup, one that we've half-kidding compared in the past with hotels that have long rented rooms by the hour for illicit activities. Given the caliber of the hotels with which it's partnering, however, it's seemingly time to rethink its place in the world. In New York, customers can now book rooms at The Pierre, W New York, The Knickerbocker and 1 Hotel Central. You can imagine the business traveler whose flight is delayed being given a Recharge voucher, for example.
Kharge talks to over 100 startups, says govt is a legislator and should keep hands away from business
Priyank Kharge is not your average politician, one who gives you an hour-long speech about the policies they have implemented. On a serious note, he told startups that his department has pushed the boundaries on helping startups. Making the most of the interaction, startups asked him a range of questions, with topics ranging from safety to mobility. Karnataka is leading in helping startups, and has even surpassed the national plan to support startups, he says.
Find out how startups are transforming real estate investing at Disrupt NY
Ever since the financial crisis of 2008, investors have become wary of investing in real estate, especially in the residential housing market. At Disrupt NY this year, we will be talking to the founders of two companies looking to new ways of investing in commercial and residential real estate. First up is Ryan Williams, CEO of Cadre, a company that provides a marketplace of investment opportunities for real estate investors.
Revolar, the personal safety button, can get you out of tight spots
A new hardware/app device called Revolar aims to make it safe to walk the streets. She then talked her co-founder about her grandmother's experience in Columbia and realized she had to do something. She started Revolar because her grandmother was kidnapped by guerrillas in Colombia for 8 months. It lasts for one year with the included battery and can also send GPS data when activated. Finally it acts as a beacon that can be used to help find your keys or purse.
Reefill wants you to drink more tap water
Reefill is a New York-based company that wants you to stop buying bottled water. They bootstrapped the first few stations and won grands from NYU and the 2016 New York StartUp! When you approach the station you unlock it with your bottle and grab sweet, sweet filtered water. The app shows where Reefill stations are hidden and you pay a $1.99 a month for access. Finally, it keeps you from having to ask the folks behind the counter for free water.
Pi Ventures, Binny Bansal, Others Back AI Based Health Analytics Startup NIRAMAI
Bengaluru-based AI startup NIRAMAI Health Analytix has raised an undisclosed amount of funding in a Seed round led by pi Ventures. Ankur Capital, Axilor Ventures, 500 Startups and Flipkart co-founder Binny Bansal also participated in this round. Early detection is key to saving lives and is enabled very well with the innovative and disruptive AI based solution from NIRAMAI. Earlier this month, NIRAMAI also got selected to be a part of Axilor's accelerator programme for the Summer 2017 batch.
Every feed app should steal Pinterest’s “More Like This” button
I'm talking about Pinterest's Instant Ideas button that started testing in February but is slowly rolling out to more people. Essentially it's an elegant show me more like this button, but that's designed to live within a feed, not spawn a separate tab. Your feed could be currently showing you a pasta recipe, a pair of shoes, some home decor, and an arts & crafts project. No need to hit the back button, or navigate different tabs, or remember to untoggle some permanent setting.
Chennai girl pays for Rs 12,000 phone on Snapdeal, gets a brick in the box
Imagine you order a mobile from an online shopping site and get a brick in return. Well, that's what happened to a student based in Chennai when she ordered a mobile phone on Snapdeal. Nithila Devi and her friend Ramya spent Rs 12,000 to buy a brand new Lenovo Z Plus phone on the site. When we opened the box, we were shocked to find half a brick inside,' said Ramya, a student in IIT Madras.

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