Rain Rannu, the Founder and Chief Executive Officer of Fortumo, said in his guest post at VentureBeat that more Android app users would pay if local payment options and not just credit cards would be offered.
India
MPC Synergy Real Estate to exit investments in India-based Akme Projects- sources
MPC Synergy Real Estate, a private equity firm that formed a joint venture with Akme Projects, will be exiting its investments in the India- based firm, according to sources interviewed by The Economic Times.
India's first startup accelerator The Morpheus to shut down
The Morpheus, the first private startup accelerator in India, is shutting down its operations this week after six years of conducting accelerator programs for startups in the country, because of the fierce competition from its rivals.
India's PSU banks initiates move to offload stake in CARE Ratings -source
India's Public Sector Undertaking (PSU) banks initiated a process to offload their shares in credit ratings agency CARE Ratings, according to sources knowledgeable on the situation.
IDG and Ascent pick up minority stake in Indian software firm Newgen
Indian venture capital firm IDG Ventures and Canadian investor Ascent Capital picked up a minority stake in New Delhi-based software solutions provider Newgen Software Technologies for INR110 crore.
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Life science startups of India, like Sea6 Energy which turns seaweed to biofuel, are taking on a higher level of risk in their goal of turning their research into successful businesses, The Economic Times reported.
Bangalore, India-based online fashion retailer Myntra raised $50 million in funding as it got approached by e-commerce giants Amazon and Flipkart as the round closed.
Bangalore, India-based startup Lumos Design Technology made unbreakable waterproof bags with a built-in battery than can charge mobile gadgets with the use of solar power.
India-based e-commerce giant Flipkart is in talks to merge with online fashion retailer Myntra as part of a proposal being pushed by common investors Tiger Global and Accel Partners.
Sameer Gehlaut, the Chairman and Co-Founder of Indiabulls Group, backed stealth mobile messaging and social networking startup MyActivityPal Inc with a $5 million investment for its Series A found.
Ventureast Tenet Fund, together with angel investors, invested $3 million for the expansion of Bangalore, India-based medical device maker OneBreath into India, Eastern Europe, and Africa.
Bangalore, India-based cloud-based video infrastructure operator Turtle Yogi Technologies raised between $250,000 and $350,000 in a seed funding round led by venture capital firm Blume Ventures, to build on the sales of its flagship product 1Click.io.
Karl Slym, managing director of India-based automotive firm Tata Motors Ltd, was found dead after falling from the 22nd floor of the Shangri-La hotel in Thailand in what police suspect as a suicide case.
India's private equity industry is growing and fund managers are getting seasoned industry veterans to help manage their portfolios and add more value to their investments, The Financial Express reported.
