Listed below are some of the major news of the startup sector, take a look to stay updated:
Sabre leads $10 million funding in CoinTribe
CoinTribe Technologies Pvt. Ltd, an online lending platform for small and medium enterprises (SMEs), has raised $10 million in its series B round of funding, led by private equity fund Sabre Partners along with participation from existing investor Puneet Dalmia.
Gurugram-based CoinTribe, founded in 2015 by Amit Sachdev, Manish Chaudhari, Manish Chaudhari and Rohit Lohia, currently offers unsecured term and working capital loans to small businesses. The company claims to use its own proprietary credit algorithm to underwrite loan applications.
Freecharge co-founder Kunal Shah raises $30 Million
Payments company FreeCharge co-founder Kunal Shah has raised $30 million for his upcoming venture from a clutch of investors led by venture capital investor Sequoia Capital, said two people aware of the development.
Shah is planning to start an incubator which would help start-ups in consumer space, as per the sources.
RELATED ARTICLES
- Startup MoU Signed Before PM Modi’s Visit To Singapore
- HDFC Bank MD Aditya Puri Features In Barron’s List Of Top 30 Global CEOs
- It’s Important That The First Hires In Your Startup Are Women, Know Why
Congress minister seeks a ban on Flipkart over selling illegal weapons
In yet another such incident, the Aurangabad Police have seized 28 weapons including swords, choppers, knives, kukris, and guptis, etc, which were purchased from Flipkart’s online website.
Reports claim that the Aurangabad police’s Crime Branch has arrested seven persons in this case, including the manager of a courier company. The probe further revealed that these arms were delivered from Punjab’s Amritsar, through a courier company, Estacort Services Pvt. Ltd.
Taking this matter on a serious note, leader of the Opposition in the Maharashtra Assembly Radhakrishna Vikhe Patil of the Congress said the online trading of weapons was both “illegal” and “dangerous”.
Patil demanded that the online shopping portal Flipkart should be banned as it was found to be the source of purchase for arms seized in the city.
Ele.me begins food delivery via drones in China
Alibaba’s Ele.me has got a clearance from the government to deliver food via drones at Jinshan Industrial Park in Shanghai.
Ele.me is one of the largest food delivery apps in China which was acquired by Alibaba in March this year. With the acquisition, Alibaba has become the direct competitor of Tencent-backed Meituan-Dianping, another giant in the food delivery segment in China.
At a time when China has already given a go-ahead for commercial use of drones and the US is likely to clear regulations for drone couriers, India’s drone policy is still caught in regulations.
Today’s Take Away:
Everybody seeks success and wealth. But when one is not able to, then the inevitable path that is left is to blame goddess luck! However, that should never be the case. Failures and problems would be there, but it is important to buckle up and learn from them.
As Bill Gates, rightly says,
“Life is not fair, get used to it.”
, has raised $10 million in its series B round of funding.){kind=link}