Listed below are some of the major news of the startup sector, take a look to stay updated:
Paytm Mall, the e-commerce arm of digital payments giant Paytm, has announced its plans to introduce new services, including No Cost EMIs, Device Insurance, Extended Warranty on products, and Easy Exchange across its online platform as well as offline partner stores.
With new additions to its portfolio, the e-commerce company, which is growing fast, aims to drive over 25% growth in gross revenue for its partner retail stores and gain a dominating market share in smartphones, appliances, and consumer electronics by the end of FY18.
Meituan backed Mobike appears closer to foray into Indian Market. is expected to start its services by next few weeks from Pune.
This will be the second Chinese firm entering into bicycle sharing space in India. Earlier, Alibaba-backed Ofo had launched its services in cities including Chennai, Bengaluru, Pune, Ahmedabad, and Indore.
Ofo also claimed to have completed 1.1 million rides within four months of operations in India.
As per reports, the firm is in advanced discussions with authorities in various cities including Nagpur, Delhi, Bengaluru, Pune, and Ahmedabad, among others, to launch the service.
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Mumbai-based organic juice startup Raw Pressery has secured $9.55 Mn (INR 65 Cr) in funding from its existing investors such as Sequoia Capital, Saama Capital, and DSG Consumer Partners.
The startup plans to expand its footprint to Southeast Asia and also strengthen its distribution and supply chain as it looks to scale up new offerings. The new funds will be put to these uses.
It is also in talks with family offices and institutional investors to raise an additional $5 Mn as part of this funding round, and this is likely to be closed in the next few months.
Cybersecurity company McAfee, which has a quarter of its global workforce based in Bengaluru developing security solutions, is now building security features to protect digital wallets from frauds and scams.
o secure these mobile wallets, the US-headquartered company first understands how apps access a user’s personal information such as photographs, address book and then takes steps to keep the data private. Further, to secure the mobile device it locates the device on a map and makes it “scream” to find it fast, and then locks, backs up and wipes out sensitive data.
Although McAfee already works with mobile wallet companies, it is now looking at strengthening its range of products further both from consumer and back end.
Foresight is an essential prerequisite for any entrepreneur who wants to succeed. Without planning and foresight, it is difficult to scale the heights.
Larry Ellison, Oracle co-founder, rightly says,
“See things in the present, even if they are in the future.”
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