Bitmineplus Founders Arrested For Bitcoin-Based Scam And Other Startup News That You Need To Know


Listed below are some of the major news of the startup sector, take a look to stay updated:

Bitmineplus founders arrested for duping 5K people through a Bitcoin-based scam

After the arrest of infamous Amit Bhardwaj in Bangkok, Deepak Jangra and Deepak Malhotra were held by Delhi Police for duping over 5,000 people to the tune of crores of rupees through a bitcoin scam.

Drawing inspiration from Bhardwaj’s GainBitcoin, Jangra and Malhotra founded Bitmineplus in 2016.

Making use of a number of networking events at many posh five star hotels, the duo enticed a few hundred people to invest and lured others via multi-level marketing concept. According to the police, both accused hatched a Ponzi scheme with a lucrative 12 percent monthly return on the invested amount.

Co-founders of Twitter, Snapdeal and BlueJeans back Delhi-based AI startup Visit

Christopher Isaac Stone, the co-founder of Twitter has invested in Delhi-based health tech startup Visit. The funding round also saw participation from BlueJeans Network co-founder Alagu Periyannan and Karthee Madasamy, a former top official of Qualcomm Ventures.

Among Indian investors, Snapdeal co-founders Kunal Bahl and Rohit Bansal also participated in the funding in their personal capacities.

Visit was founded in 2016 by Anurag Prasad, Vaibhav Singh, Chetan Anand and Shashvat Tripathi. The startup is an on-demand healthcare service online platform which provides its users a pool of medical specialists and general physicians to choose from for consultation.

SaaS startup Fyle gets funding from Pravega and Beenext

Bengaluru-based Fyle has raised an undisclosed amount of funding from existing investors Pravega Ventures and Beenext, a Singapore-based venture capital firm. The startup provides expense management software for enterprises.

The company is going to use the funding to expand its sales and marketing efforts and for research and development. Fyle allows employees to track and manage their travel, insurance, local conveyance, medical expenses and other company-related expenses.

Sandbox Startups provide DST-NIDHI funding to three Hubli based companies

Central Government-recognized technology startups incubator, Sandbox Startups invests in three of the incubated companies under NIDHI-SSS funding backed by the Department of Science and Technology, Government of India.

The funding will help the startups to graduate to the next level in terms of technology and this will take them to a better position to raise funds for further growth.

NIDHI-SSS (National Initiative for Developing and Harnessing Innovations-Seed Support System) is an umbrella program targeting at startups which aims to nurture knowledge-based and technology-driven ideas into successful startups.

Today’s Take Away:

One has the team, the well-wishers and the support system that would help them to go forward with their dreams. But it is essential to understand that these are outward factors and might even die out one day. But the belief in one’s potential stays with the person forever and helps them realise their passion.

Brian Wong, co-founder of Kiip, rightly says,

“You are the most powerful force in your life.”