MakeMyTrip Ltd will look to acquire technology-oriented hotel solution providers, reduce discounts and offers and focus on sustainable long-term growth, the online travel firm’s chief executive said. The Nasdaq-listed...
Ola raises Rs 1,675 crore from SoftBank in fresh funding
SoftBank has pumped $250 million into Ola, Uber’s Indian rival, documents filed with the Registrar of Companies reveal. Tech in Asia had earlier reported that Ola had secured Rs 1,675 crore ($330 million) in fresh...
Mahindra Holidays buys 3.22% in HCR for 2.16 million euros
Mahindra Holidays & Resorts India Ltd (MHRIL) has acquired an additional 3.22 percent stake in Finland-based Holiday Club Resorts Oy (HCR) for 2.16 million euros (over Rs 14.5 crore). The Mahindra group company...
BookaTruck to raise Rs25 crore for expansion
Truck booking start-up BookaTruck plans to raise about Rs25 crore in the third quarter of this fiscal to expand its presence across the country. BookaTruck launched the app-based service for booking of heavy commercial...
Mswipe in talks to raise up to $40 million
Mobile payments services provider Mswipe Technologies Pvt. Ltd has initiated talks to raise as much as $40 million (around Rs250 crore) in a new round of funding, two people aware of the development said. The firm which...
Ratan Tata’s venture capital fund makes maiden Rs 400-cr investment in Ola
RNT Capital Advisors, the venture capital firm floated by Tata Group Chairman emeritus Ratan Tata, has made its maiden investment of Rs 400 crore in India’s largest taxi aggregator Ola. The investment will also see the...
BigBasket raises Rs45 crore from Trifecta Capital
Online grocery store BigBasket (Supermarket Grocery Supplies Pvt. Ltd) has raised Rs45 crore from venture debt firm Trifecta Capital to meet capital expenditure requirements, even as the company talks to a host of...
Dentsu Aegis to acquire Sri Lanka’s Grant Group
Dentsu Aegis Network has signed a definitive agreement to acquire Grant Group, the largest independent creative agency in Sri Lanka, paving the way for its entry into the island nation. The London-based subsidiary of...
SoftBank writes off $475-million investment in Ola, Snapdeal
Japanese investor SoftBank has written off around $475 million (Rs 3,226 crore) in the value of its combined shareholding in Ola and Snapdeal, its two largest investments in the country, in the nine months till December...
Govt mulls merger of six consultancy firms into Engineers India
Government is mulling the merger of about half a dozen state-owned consultancy firms like Engineering Projects (India) Ltd with Engineers India LtdBSE 0.57 % (EIL) to create a mega-consultancy firm that can take on the...
Alibaba Pictures in talks to buy Chennai-based TicketNew
Alibaba Pictures, the movie and TV content business controlled by the Chinese e-commerce giant, is in talks to buy a majority stake in Chennai-based Orbgen Technologies Pvt. Ltd, which operates ticket-booking platform...
China’s Didi, partners invest over $100 million in Brazil’s 99 company
Didi Chuxing, China’s largest ride-hailing company, is leading a group investing more than $100 million in Brazilian on-demand taxi and ride-sharing company 99, the companies said on Wednesday. Under the terms of...
