Paytm Money raised Rs 28.87 crore from parent One97 Communications in exchange for 2.8 crore equity shares of Rs 10 each. At its launch, Paytm Money had received an investment commitment of $10 million from One97 Communications to set up operations. The funding comes at a time when Paytm Money is looking to aggressively scale operations.
Zinier raises $22 million
Service automation startup Zinier raised $22 million in a Series B round led by Accel with participation from San Francisco-based Founders Fund, Nokia-backed NGP Capital, Qualcomm Ventures LLC, and France-based investor Newfund. Zinier will deploy the funds raised to accelerate its growth globally, and expand its platform.
K Vaitheeswaran starts up ‘Again’
On September 29, 1999, K Vaitheeswaran and his five co-founders launched Fabmart, which led to the launch of India’s first ecommerce platform, Indiaplaza. Twenty years down the line, Vaitheeswaran, and one of his earlier co-founders Sundeep Thakran launched his next startup: Again that makes and markets a yoghurt-based health beverage by the same name.
Blume Ventures partners with UTEC
The University of Tokyo Edge Capital (UTEC), which invests in deep science and deep tech startups, is now actively investing in India. It is now partnering with Blume Ventures, one of India’s most sought-after early-stage investors. The two are going to set up Blume UTEC Deep-tecH Accelerator (BUDHA), an initiative to invest in and mentor Indian startups working in the sectors of deep science and technology.
Spotify racks up 1M users in a week
In less than a week of its launch in India, Spotify has racked up 1 million unique listeners across the free as well as a premium version of its service. At launch, Spotify India made available over 40 million songs and three billion playlists in English, Hindi, Punjabi, Bengali, Tamil, Telugu, Malayalam, and Kannada. There are podcasts, talk shows and city-based playlists too.