FreeCharge, which was acquired by Snapdeal this May in India’s largest tech deal, is in talks with existing and new investors to raise $300 million. This will be Snapdeal’s first fund raise that’s earmarked for a separate entity.
It’s the old guard versus the new. Wary of the traction being generated by new-age hotel booking sites like Oyo Rooms and Zo Rooms, incumbents MakeMyTrip, GoIbibo and Yatra have collectively removed listings from these properties from their sites.
Bad PR seems to yet again plague the food startup. Now, law students Pranav Jain and Aroon Menon from Delhi have moved to court accusing Foodpanda of miscalculating the VAT charges on bills, subsequently misappropriating their total taxes and charges due to the govenrment, and also cheating customers in the process.
After its hugely popular take on India’s startup scene captured all the drama associated with entrepreneurship, TVF has a new resource to draw inspiration from – its own internal feud. TVF Founder Arunabh Kumar has been dragged to court by former colleague Prashant Raj. Raj, who quit the company in 2014, is demanding a 4% share in the company as well as cash compensation for his work with TVF.
All the funding news from the Indian startup ecosystem. Funded startups include ZuperMeal, CloudLending, Kulzy, Grabhouse, Lookup and Gojavas.
A summary of the startup funding news, 1st Oct – 8th Oct 2015.
Jabong’s plight may well be a resounding alarm for the hitherto burgeoning startup scene in India, which is finally showing signs of correction, what with Zomato, Helpchat and Housing scaling down their workforce, and food tech startups like Dazo ceasing operations.
