IndianWeb2

Press Release

US-based Arrow Electronics is acquiring eInfochips, a software R&D firm based out of Ahmedabad, Gujarat and San Jose, California, for reportedly ₹1,800 crore. Both the companies however have disclosed the purchase amount yet.The transaction is expected to close this month. And, it is said that post acquisition, out...

Last month, an Intel report predicted that 70% of Indian organizations will deploy artificial intelligence enabled solutions by end of 2019, which in other words also predicted that India will create more jobs for artificial intelligence and robotics professionals.Now, with start of fresh year 2018 human resource and...

In the start of fresh new year of 2018, government is condering removing tax hurdles for angel investment in startups.Till now, startups receiving funding from angel investors are being levied Angel Tax -- 30% tax as income from other sources -- which in fact is hurting the...

Sachin Bansal and Binny Bansal, the two post boys founders of homegrown e-commerce giant Flipkart have quitely incorporated a new company last month for new businesses, which could include venture capital funding and insurance, reported The Hindu BusinessLine.Named as Sabin Advisors, after the first few letters of both...

US based e-commerce giant Amazon is close to invest in a Mumbai based startup called Acko Technologies, which is a digital-only insurance startup. Amazon is in final stages of the deal and might close anytime soon, reported Times of India.According to the report, Amazon could invest about ₹100...

The troubled e-commerce startup Snapdeal has again injected fresh funds worth ₹27 crore into its logistics arm Vulcan express.The filings with the Registrar of Companies said Snapdeal has allotted 2.7 crore shares worth ₹27 crore to Vulcan Express. For 2015-16, Vulcan Express has posted losses of about ₹20 crore...

Japanese conglomerate SoftBank will pick up 15 per cent stake in Uber and pump in USD 1 billion as primary investment in the US-based ride-hailing app in early 2018, according to multiple sources.The fresh capital infusion comes at a time when the company is looking at moving beyond the...

In July, we reported that H-Bots Robotics, a Hyderabad-based robotics startup, was in process of making a police robot. Today, the company has finally launched the world’s first smart policing robot.The beta version robot developed by the company is fully 'Made in India', using all the components sourced...

Goa state government on Thursday approved the land transfer of over 12,000 sqm belonging to the directorate of skill development and entrepreneurship, to the department of information technology at Porvorim, Panaji for the purpose of creating a startup-related ecosystem in the state.Chief minister Manohar Parrikar said that the cabinet...

India Inc is looking at a huge M&A tally of over $60 billion (about ₹4 lakh crore) for 2017, helped by some marquee domestic deals and rich valuations for various private equity investments.The need to consolidate in the wake of financial stress, as also for cashing out from valuable...