There is nothing more dynamic than eCommerce industry. Every day there is something or the other happening here. It is truly a worldwide “WEB”. The previous week has seen a lot of changes in eCommerce industry and startups. Here’s everything that you should know about the week that just went by in India.
Picsdream is India’s first photography marketplace, founded in November 2015 by Mahesh Nair. It is a platform that allows photography lovers to share their work and monetize it. It has made the declaration last week that they have received fresh funds in an angel round that was directed by Raman Roy, CMD, Quatrro and Co-founder of Indian Angel Network. Besides, Ankit Nagori, Ex-CBO Flipkart and Harish Natarajan, Former CEO Bausch and Lomb India were also a part of the event.
Dil Mil is a matchmaking app that connects South Asian expats worldwide and it has managed to grab 2.7 million dollars in pre-Series A funding from Nelstone Ventures, Transmedia Capital, Maiden Lane Ventures, CSC Upshot and some other investors. The list of angel investors includes Naval Ravikant, founder of Angel List, Kunal Shah, founder and CEO of FreeCharge, Sameer Parwani, founder and CEO of CouponDunia; and Vijay Ullal, founder of Victory Ventures.
That’s not the end. Process Nine Technologies Private Limited, a Gurgaon-based company has raised a secret amount in a pre-Series A round of funding. Startup provides translation and transliteration services online, from English to Indian languages with the help of a cloud-based application programming interface (API).
Flipkart tops the list of eCommerce sites and on 31st March 2016, it has acquired PhonePe that is a mobile payments company based in Bangalore. Flipkart takes utmost pride in this third acquisition in the payment solutions space. What is interesting to know is that the deal is not cash transaction. We have to perhaps wonder what it actually is!
According to the Department of Industrial Policy and Promotion, 100% Foreign Direct Investment has been allowed by the Indian government in online retail consumer business operating as marketplaces from 29th March 2016. These companies are the ones that are messengers between customers and sellers by merely offering a technology platform.
Manish Maheshwari, former vice president and head of the seller business at Flipkart is now with Mukesh Ambani’s Network18 Media and Investments Ltd. He is now the CEO of Web18 that is the mobile and Internet arm of Network18 Company.
Indians can now order the compact and sexy four-door sedan Model 3 electric car by Tesla Motors. CEO of Tesla Motors, Elon Musk has clarified that it is priced at 35000 dollars and the production would begin in late 2017. It is open for pre-ordering even from India in a brilliant ceremony that took place in California on 31st March 2016.
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