Toffee Insurance, an online insurance platform for millennials, has raised $1.5 million in a round of seed funding led by Kalaari Capital, Omidyar Network, and Accion Venture Lab. It plans to use the funds to focus on product development and expanding its team. Founded by Nishant Jain and Rohan Kumar, Toffee is a technology platform focused on providing contextual and relevant insurance offerings to a growing youth demographic.
Reliance Jio has partnered with Israel-based interactive entertainment startup Screenz to create a platform that will allow two-way conversations between broadcasters and viewers in real-time. Jio Screenz will be the first-of-its-kind platform for “entertainment-based interactivity” in India.
Amazon India has rebranded its grocery delivery service ‘Amazon Now’ as ‘Prime Now’. According to a press release from Amazon India, Prime Now will provide two-hour delivery to Prime members between 6 am and midnight. Same-day and next-day delivery will remain available for all customers, in two-hour slots from 6 am to 12 midnight.
Aditya Puri, Managing Director of HDFC Bank, has made it to Barron’s list of Top 30 Global CEOs. This is the fourth consecutive year that the international publication has named Puri on the list. The 14th edition of the list includes Jeff Bezos of Amazon, Warren Buffett of Berkshire Hathaway, Jamie Dimon of JPMorgan Chase, Larry Page of Alphabet, Reed Hastings of Netflix, Satya Nadella of Microsoft, and Mark Zuckerberg of Facebook, among others.
Direct mutual fund platform Orowealth has raised Series A funding in a round led by Powerhouse Ventures, which also saw participation from other global and Indian investors. Orowealth aims to use the funds for product innovation, strengthening research capabilities, and expanding product portfolio.
The Indian Railway Catering and Tourism Corporation (IRCTC) has announced a major revamp of its website. The portal, which facilitates over 13 lakh ticket bookings each day, is getting a slick new look reminiscent of international travel and tourism portals, as well as a host of new features, including the ability to check train timetables and availability without logging in, and the option to check the probability of a waitlisted ticket getting confirmed. The new portal is in public beta right now, and is expected to replace the existing portal in the coming days.
The US Department of Homeland Security (DHS) has published a proposal to scrap the International Entrepreneur Rule (IER), a rule from the Obama administration that gave immigrant entrepreneurs the opportunity to stay in the US for 2.5 to 5 years if they met certain targets for growth and development. The DHS is inviting public comments on the proposal on or before June 28, 2018.