Weekly Roundup: Snapdeal Forays Into Travel Space, Transerv Secures $15 Million..

Here is a weekly roundup of the major announcements made last week from Digital And Startup India and of course the major funding rounds.

Insights

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Startup News 

Housing’s Advitiya Sharma Has Launched Education Startup Genius. He had quit Housing last month to start a new venture.

GirnarSoft, the parent company of CarDekho, Gaadi and Zigwheels has acquired SaaS startup Connecto in a cash and stock deal. With this acquisition, GirnarSoft will leverage Connecto’s tools to improve user experience across all the websites and apps of the company.

Alibaba backed Snapdeal has made a strategic move and forayed into the travel space, at a juncture when speculations are soaring about e-commerce companies’ business models and external funding have slowed down.

The Ministry of Corporate Affairs’ website has not been functional for over a month now and Between Government and Infosys Babudom, Startups Bear The Brunt.

Digital India

Uber dragged Ola to Delhi high court complaining that Ola’s employees have created over 9o,ooo false rider accounts. Uber which has alleged Ola of creating fake accounts has sued Ola for $7.5mn (INR 50 crores). Read More..

Digital content and e-commerce marketplace Rediff will now be delisting its stock from Nasdaq and has already applied to the US Securities and Exchange Commission. Read More..

Apple claims that its sales in India during the January-March quarter grew by 56%. Read More..

Government had announced that mobile makers will have to manufacture handsets with a panic button and GPS feature starting from 2017. However, the mobile manufacturers have not agreed with the rule. Read More..

Startup Funding

Startup Amount Series Lead Investor
UK Based Koovs  £21.9 Million Undisclosed Undisclosed
DocsApp $1.2 Million Seed Round Anand Rajaraman, Venky Harinarayan, Rebright Partners
RailYatri Undisclosed Undisclosed Nandan Nilekani
ClearTax $1.3 Million Seed Round Max Levchin
Roposo $ 5 Million Series B Bertelsmann India Investments
TranServ $15 Million Series C IDFC SPICE Fund

 

 

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