It is a very interesting time for the startups in India and August has been a great month in terms of the funding. Lets find the top news this week which kept the Indian startup scene buzzing,
1. Housing.com will lay-off 600 employees in next 3 months
Housing.com plans to lay off at least 600 employees in the next three months, the step is towards focus on its core technology and product and tightens its current cash burn, according to several people familiar with developments at the company. Read More.
2. Foxconn will Invest $5B in India for next 5 years
3. GreyOrange Robotics raises $30M series B funding
GreyOrange, a Singapore based robotic systems manufacturer secured USD 30 million from investors, Tiger Global Management and Blume Ventures, as part of its second round funding. The funding will be used for research and development, hiring and internal expansion. Read More.
4. Sundar Pichai – the new CEO of Google
Pichai, 43, was named chief executive officer of Google and unveiled a new corporate structure creating an umbrella company dubbed Alphabet. Read More.
5. BigBasket raises funds worth $50M
BigBasket.com, a Bangalore based online grocery store startup, raises $50 million in a new round of funding that was led by Bessemer Venture Partners. The current valuation of BigBasket stands at $400 million and the plan is for expansion to 50 more Tier-II cities. Read More.
6. Scriptbox a fintech startup raises $2.5m from Accel Partners
Scriptbox, the Bangalore based financial technology startup has raised a Series A funding of $2.49 million from Accel Partners and group of angel investors. Read More.
7. Mumbai-Based Startup OneAssist Raises $7.5 Mn
OneAssist Consumer Solutions, a Mumbai-based startup which offers protection to customers if their mobile phones and cards are stolen or damaged, raised Rs.50 crore in a Series B funding round from New York-based insurance provider Assurant, Inc. Read More.
8. Quikr Launches”Quikrcars” focusing on all kinds of automobiles
Quikr, India’s No. 1 cross category classifieds business, announced that it has gone live with QuikrCars, its vertical with a sharp focus on all kinds of automobiles, i.e. cars, bikes and commercial vehicles. Read More.
9. Agri-Tech Startup AgroStar Raises $4 Mn In Funding Led By IDG Ventures
AgroStar, a mobile commerce company that sells agricultural inputs directly to farmers, has raised $4 million in funding led by IDG Ventures.Read More.
10. WOW ! momo raises funding from Indian Angel network(IAN)
Indian Angel Network (IAN) has invested Rs 10 crore in Wow! Momo, a chain of quick service restaurants at a valuation of Rs 100 crore. The investment has been led by Sanjeev Bhikchandani, Saurabh Srivastava, and Ashvin Chadha. Read More.