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Stockal Lands $3 million Funding from Aroa Ventures, others

Stockal Lands $3 million Funding from Aroa Ventures, others

Stockal, a platform that enables global investments for Indians, on Thursday said it has raised $3 million in funding from Aroa Ventures, Cadenza Capital Management, and others. The pre-series A round saw participation from Aroa Ventures (OYO founder Ritesh Agarwal’s family office), Cadenza Capital Management, Kristal.ai, Tracxn Labs, July Ventures, and Credence Family Office, a statement said. The company has raised $5 million in funding since its launch in January last year. “Stockal will use the funding to turbocharge its growth into new markets, starting from Indonesia in South East…

$10 million Raised by Hvy Haul in Series A Funding

$10 million Raised by Hvy Haul in Series A Funding

CHENNAI: California-based supply chain logistics enterprise Hwy Haul, a company launched by former Walmart executives, has raised $10 million in Series A funding to transform the way fresh produce is shipped and delivered. Eileses Capital led the round with BluePointe Ventures as the co-lead. Other investors include AgFunder, True Blue Partners and angel investors like Freshworks founder and CEO Girish Mathrubootham, Nutanix founder and CEO Dheeraj Pandey, Rajiv Batra, founder of Palo Alto Networks and Vivek Mehra, partner Emeritus at August Capital, among others. Hwy Haul’s end-to-end digital freight platform…

Zomoto set to be the biggest IPO of Indian Capital Market in 2021

The first-ever technology company IPO in India, that of Zomato, is set to be the biggest event of 2021 for the Indian capital market. IPOs of companies that belong to sunrise sectors have often met with much frenzy. This frenzy to grab a piece of the blooming Indian food technology sector, some market participants believe, could be so intense that Zomato could command valuations of a decacorn ($10 billion or more) by the time its shares start trading on the stock exchanges. “There’s a distinct possibility of the IPO being…

Amazon postpones Prime Day sale in India amid surge in Covid-19 cases

Amazon’s flagship Prime Day sale, which is scheduled to take place globally in June, has been postponed in India due to a surge in Covid-19 cases across the country in the second wave of the outbreak. The Prime Day sale will not be conducted in India and Canada in June due to the spreading infections, even as Amazon goes ahead with plans to host the event in markets including the United States, UK, Germany, France and Spain. A spokesperson for Amazon India confirmed to ET that the company had decided…

India holds up wireless approvals for China-made devices

India previously allowed companies to self-declare wireless equipment, a move that made imports easier, but new rules in March 2019 mandated firms to seek government approval. India has held up approvals for import of wifi modules from China for months, driving companies such as U.S. computer makers Dell and HP and China’s Xiaomi, Oppo, Vivo and Lenovo to delay product launches in a key growth market, two industry sources said. Imports from China of finished electronic devices – like bluetooth speakers, wireless earphones, smartphones, smartwatches and laptops – containing wifi…

WhatsApp scraps deadline for accepting privacy policy terms

New Delhi, PTI: WhatsApp has scrapped its May 15 deadline for users to accept its controversial privacy policy update and said not accepting the terms will not lead to deletion of accounts. WhatsApp had faced severe backlash over user concerns that data was being shared with parent company Facebook. A WhatsApp spokesperson told PTI that no accounts will be deleted on May 15 for not accepting the policy update. “No accounts will be deleted on May 15 because of this update and no one in India will lose functionality of…

Nandan Nilekani opens credit infra to help small businesses get loans !!

A major new technological innovation is in the works connecting lenders with the marketplace, Aadhaar architect Nandan Nilekani announced on Wednesday that, as he buttressed the need for India to “democratize credit” for millions of small businesses to revive its virus-battered economy. Speaking at the Global Fintech Festival, 2020 Nilekani, co-founder & non-executive chairman of Infosys Ltd, described that the initiative as a credit protocol infrastructure called the Open Credit Enablement Network, or OCEN, built by the Indian Software Product Industry Roundtable (iSpirt), a think-tank of the software industry. Under these…

Bharat Bond ETF-Series II: A Safe option, but should you invest?

The second tranche of the Bharat Bond ETF (exchange traded fund), managed by Edelweiss mutual fund, will be up for subscription from July 14. Just like the first tranche of December 2019, the second offer will come in two variants: a 10-year ETF that will mature in April 2030 and a five-year product that will mature in 2025. What is this bond about? The Bharat Bond ETF is India’s first to corporate debt ETF. Companies approach the firm managing the bond ETF with their borrowing requirements. The bond ETF raises…

Hot Stocks Nifty may retrace to 10,300; buy these 3 stocks for double-digit returns !!

Nifty gave a surprising for move by climbing ‘the wall of worry’ i.e. 61.8% retracement levels of the entire fall of March and has managed to give the highest weekly closing of the last 16 weeks. Meanwhile, weekly Heikin Ashi candle continued as a bullish flat bottom pattern and formed a higher high and higher low pattern, clearly suggesting that bulls are in domination and prices are ready to soar further. Daily RSI is sustaining above its 9 SMA also adding strength to the current ongoing movement. The key target…

LIC made fresh investment in 16 stocks, bought additional stake in 43 counters in Q4 !!

After hitting a record of high in January 2020, Indian equity benchmarks crashed 40% to hit around 4 year low level on March 24. The indices have recovered since then on the back of liquidity (by global central banks) and gradual re-opening of economies despite virus risk. The BSE Sensex and Nifty50 as well as Midcap and Smallcap indices plunged 29% each during the March quarter. Sectoral indices also witnessed double-digit decline. Life Insurance Corporation of India (LIC), one of the major equity investors, made fresh investments in 16 stocks…