Increasing use of affordable smartphones – and their ability to show precise locations – has made the ondemand business model more feasible and executable in the past year, say investors.
CarDekho is making a start in this direction by scouting for acquisitions in the range of $1-5 million (about Rs 6-30 crore) in Southeast Asia to enter markets.
Global funds make a beeline for Indian banks, finance firms; $1.46 billion investment made in 6 months
In the first six months of 2015, private equity funds invested $1.46 bn in finance firms, compared with $1.29 bn in the same period of 2014.
Capillary’s valuation after its third round of institutional fundraising is estimated to be $170-180 million (Rs 1,080-Rs 1,140 crore).
Local language mobile platform NewsHunt has acquired Delhibased Rocket Science Innovations Pvt Ltd, which runs BuyT ContentLink.
NewsHunt has 20 million monthly active users accessing mobile Internet in regional languages such as Tamil, Bengali and Telugu.
The median size of angel-funding rounds more than doubled to Rs 1.38 crore in the last year, and median valuation surged 35 per cent from a year earlier to Rs 9 crore.
The startup, founded three years ago by college dropout Ritesh Agarwal, now 21, is expected to be valued at about $400 million (Rs 2,500 crore) after the investment.
The company has 4.5 million users from India, with the country accounting for the second-highest paid users on the platform after China.
Gourav Rakshit, who was chief operating officer, has taken over as CEO at Shaadi, which has also beefed up its top management.
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