Flipkart launches subscription service Flipkart First

Bangalore based ecommerce company Flipkart has launched Flipkart First, a subscription based service to offer members priority service features. As a launch feature, it will randomly select 75,000 customers and offer them the service free of cost for the first three months.

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Hopscotch buys SkoolShop. Blume Ventures, angels exit

Mumbai based online baby and kids products store Hopscotch is acquiring SkoolShop.com, an online store that specializes in school supplies. Hopscotch has entered into a definitive agreement to acquire SkoolShop, owned by Mumbai based Occasion Kommerce. The financial details of the transaction have not been disclosed.

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Alibaba — From Hangzhou to Wall Street

 

Chinese ecommerce giant Alibaba on Tuesday filed for a $1 billion IPO with the US Securities and Exchange Commission (SEC). It will list either on the New York Stock Exchange or the Nasdaq and has not yet specified a ticker symbol.

Founded in 1999 by Jack Ma, a former English teacher, Alibaba reported revenues at $5.55 billion on profits of $1.37 billion, for the financial year ended March 31, 2013.

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DFJ Growth raises $470 mn fund

DFJ Growth, the later stage focused venture capital arm of Draper Fisher Jurvetson (DFJ), has raised $470 million in its latest fund and its second in the growth stage series. The fund targets private technology companies that are scaling rapidly and poised for category leadership. The new fund comes just three months after DFJ raised the $325 million DFJ Venture XI, an early stage fund.

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Norwest invests in CRMnext

Delhi based Acidaes Solutions, developer of enterprise software solution CRMnext, has raised an undisclosed sum in a fresh funding round from Norwest Venture Partners. The company will use the funds to accelerate its global outreach and make investments in research and innovation. The company’s longer term strategy is to become one of the top five players in the global customer relationship management market across industries.

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Embibe raises $4 mn from Lightbox, Kalaari Capital

Mumbai based Indiavidual Learning, a startup that has developed online test perparation platform Embibe, has raised $4 million in Series A funding from Lightbox Ventures and Kalaari Capital. This is Mumbai based venture capital firm Lightbox Ventures’ first investment from its $90 million debut fund.

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Deals Roundup: Anchanto, Connexios, OnMobile

Anchanto, a Singapore based ecommerce fulfilment platform, has raised an undisclosed amount in funding round led by Innosight Ventures, reports e27. Cub Capital, Scott Anthony and Akshay Mehra have participated in the round. The company will set up shop in Malaysia, Indonesia and India in the next 6 months. The company already has operations in Pune.

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Tiger Global leads $15 mn Series B in LimeRoad

AM Marketplaces, the Gurgaon based startup that runs fashion ecommerce platform LimeRoad, has raised $15 million in a Series B funding round led by Tiger Global Management. Existing investors Matrix Partners and Lightspeed Venture Partners participated in the round.

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MyDentist launches operations in Surat

MyDentist, the Mumbai based affordable dental care services chain, is announcing the launch of operations in Surat, Gujarat. The company now has a presence in two states and five cities — Mumbai, Navi Mumbai, Thane and Pune in Maharashtra and Surat in Gujarat. MyDentist is backed by Asian Healthcare Fund and Seedfund.

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Nokia launches $100 mn Connected Car fund

Finland headquartered Nokia has launched a $100 million Connected Car fund that will invest in in-car technology. The fund will be managed by Nokia Growth Partners, the mobile phone maker’s corporate venture capital arm. The fund will identify and invest in companies across global markets including the US, India, China and Europe.

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