Listed below are some of the major news of the startup sector, take a look to stay updated:
Pine Labs raises $125 million from Temasek and PayPal
Point of sales deploying company Pine Labs has raised $125 million from Temasek, a global investment company headquartered in Singapore and PayPal, the largest digital payments company of the United States of America.
Pine Labs plans to use the deep network of Temasek in multiple Asian geographies to help Pine Labs scale up operations in the south-east Asian region and further with the technological capabilities of PayPal, Pine Labs is looking to strengthen its tech play as well.
Treebo acquires Axilor-based online events discovery platform Events High
Treebo Hotels has made its first buyout, having acquired online events discovery platform Events High for an undisclosed sum.
Founded in 2016 by Nikesh Garera and Arvind Batra, Events High counts early-stage investment firm Axilor Ventures as an investor. As part of the transaction, Axilor Ventures will take an undisclosed stake in Treebo.
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Dairy IoT startup Stellapps raises funding
Agritech startup Stellapps has raised $14 million in one of the largest equity funding rounds led by Bill and Melinda Gates Foundation and IndusAge Partners, among others.
Powered by the Internet of Things (IoT), cloud computing, data analytics and wearables, the Bengaluru-based startup will be using the fresh capital towards product development and expansion.
Founded in April 2011 by Ranjith Mukundan, Praveen Nale, Ravishankar Shiroor, Ramakrishna Adukuri, and Venkatesh Seshasayee, Stellapps was incubated at the rural technology business incubator in IIT Madras.
E-commerce platform Infibeam reports highest ever growth
India’s first listed e-commerce platform Infibeam has witnessed its revenue growing to Rs 839.3 crore in FY18, a 90 percent growth in revenue on a year-on-year basis. It also reported a 102 percent rise in net profit to Rs 88.1 crore, the highest ever growth observed in the company.
Since the company launched IPO in March 2016, it has never faltered on profits. Last year, it reported growth of 396 percent, clocking a profit of Rs 43.5 crore in FY17.
Today’s Take Away:
Should you plan long ahead? Should you think beyond the present and plan for your future? Well, it is indeed helpful but planning too much and then seeing them not working out is frustrating
Therefore, as Jason Fried, founder of 37signals says,
“Unless you are a fortune-teller, long-term business planning is a fantasy.”
