MakeMyTrip acquires Quest2Travel, to bolster its position in the corporate travel space

  • Also read: Chinese travel services provider Ctrip to acquire Naspers’ entire stake in MakeMyTripOn the acquisition, Deep Kalra, Founder and Group CEO, MakeMyTrip Limited said, ” This investment will help us extend our service offerings to large corporates for their travel requirements while helping Quest2Travel benefit from the travel expertise and depth of supplier relationships that MakeMyTrip has forged over the years.
  • Q2T has been enhancing its platform to meet the requirements of corporate clients for the past several years, and its clientele includes Tata Motors, Aditya Birla Group, Times Group, HDFC ERGO, and Thermax, among others.
  • Amongst other benefits, it will help us offer superior service offerings with wider inventory and better pricing for air, hotel bookings, and other employee travel services.” Just last week, MakeMyTrip Limited said that its investor Naspers Limited and Chinese travel services provider Ctrip have entered into a share exchange agreement.
  • Apart from operating its own platform, MakeMyTrip also operates brands including Goibibo and redBus.

Read full article: yourstory.com

The journey of a lead investor post the investment process

  • We had earlier shared some key insights on who such lead investors are, how investors can become leads, and what role they play before, during, and after the fundraising process.
  • The challenge begins after the investment and when the lead starts working with the founders.
  • The LetsVenture team sat down with Anupam Mittal, one of the most prominent lead investors in India, Founder of People Group (Shaadi.com), and an early investor in Ola, to understand the nuances of actually being a lead investor and addressing the business and governance issues that arise post an investment.
  • According to Anupam, there are two major issues that arise post investment against the directional working of startups:1.

Read full article: yourstory.com

[Funding alert] Cricket commentator Harsha Bhogle invests in Gurugram-based startup Chqbook

  • Gurugram-based fintech startup Chqbook on Tuesday announced that veteran cricket commentator Harsha Bhogle has invested an undisclosed amount in the startup.
  • Founded in 2016 by former bankers Rajat Kumar and Vipul Sharma, Chqbook is an online aggregator that allows customers to search, compare, and get personal finance products such as home loans, personal loans and credit cards, all on one platform.
  • In a statement, the company said that the renowned Indian cricket commentator was excited to participate in the fintech startup.
  • Speaking on the partnership, Vipul Sharma, Co-founder and CEO of Chqbook said, ” Harsha is widely acknowledged to be the voice of cricket.

Read full article: yourstory.com

Solar Tech Startup ZunRoof Raises $1.2 Mn from Godrej family office

  • Gurgaon headquartered ZunRoof, a solar tech startup, has raised a fresh round of pre-series A funding of $1.2 million from Godrej family office.
  • With this round, the startup has raised a total of about $1.5 million in funding over four rounds.
  • According to Mercom India Research’s Q4 and Annual 2018 India Solar Market update , Rooftop solar had an impressive year in 2018 growing by 66%.

Read full article: indianweb2.com

[YS Exclusive] WorkIndia raises Rs 24 crore from BEENEXT and Asuka Asset Management

  • Bengaluru-based WorkIndia, a geo-positioning app which helps in connecting blue and gray collar workers with employers, has raised funding of Rs 24 crore from BEENEXT, Singapore and Mamoru Taniya, Chairman of Asuka Asset Management, Japan.
  • The startup claims that it gets 300,000 unique employers per quarter vs 500,000 unique employers in total on Naukri.com, and that WorkIndia has expanded nearly 10x between March 2018 and March 2019 on all major metrics: revenue, transactions, employer numbers and candidate numbers.
  • Speaking with YourStory, Co-founder Kunal Patil says that the blue and grey collar segment is already online and using the internet: WhatsApp for communication, DailyHunt for news, and YouTube for communication.
  • Founded in February 2015 by Kunal Patil, Nilesh Dungarwal, Moiz Arsiwala, Jatin Jakharia, and Lokesh Tiwari, WorkIndia has created a platform that utilises geo-tagging and algorithms for relevance adaptation to connect job seekers with companies.

Read full article: yourstory.com

Godrej invests $1.2 million in home-tech startup ZunRoof

  • The family office of diversified conglomerate Godrej has invested $1.2 million in home-technology startup ZunRoof in a Pre-Series A round.
  • With the recent expansion in Chennai, Bangalore and Coimbatore, ZunRoof serves customers in more than 40 cities, including Delhi-NCR the region, Bangalore, Chennai, Chandigarh, Lucknow, Kanpur, Agra, Jaipur, Haridwar, Ludhiana, and Jalandhar.
  • The funding comes at an integral time for the company, which is working towards the fulfillment of the government’s target of achieving 40 GW by 2022 for rooftop solar.
  • ZunRoof, which has designed solar rooftops for over 10,000 residential houses, has earlier raised fundings from investors Ramakant Sharma, Founder of Livspace, Gaurav Gupta

Read full article: thehindubusinessline.com

Bicycles: Pedalling Ahead In Style

  • Cycling is more of a social activity than it ever was before and for many members of the millennial generation, the high-end bicycle becomes a means to express and exude their identities,” says Pankaj Munjal, Chairman and Managing Director, Hero Cycles.
  • The Indian bicycle market, which until a decade ago was confined to local players like Hero, BSA, Hercules, Avon and Atlas, has seen the influx of international players like Trek, Kona, Schwinn, Giant, Fomas (an Indo-Chinese venture) Decathlon, Bianchi, Scott Sports, among others.
  • According to him, lifestyle changes in the society and people’s inclination towards premium bicycles have also contributed to the different outlook towards bicycles.
  • Last year, as per industry estimates, bicycle sales in India stood at over 16.5 million units, valued at Rs 5,000-5,500 crore.
  • ” Entry of niche players Besides, the Indian bike market has also seen the entry of niche players like GoZero Mobility, a British electric bike maker which manufactures premium electric performance bikes and signature lifestyle merchandise.

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MakeMyTrip acquires Quest2Travel, to bolster its position in the corporate travel space

  • Also read: Chinese travel services provider Ctrip to acquire Naspers’ entire stake in MakeMyTripOn the acquisition, Deep Kalra, Founder and Group CEO, MakeMyTrip Limited said, ” This investment will help us extend our service offerings to large corporates for their travel requirements while helping Quest2Travel benefit from the travel expertise and depth of supplier relationships that MakeMyTrip has forged over the years.
  • Q2T has been enhancing its platform to meet the requirements of corporate clients for the past several years, and its clientele includes Tata Motors, Aditya Birla Group, Times Group, HDFC ERGO, and Thermax, among others.
  • Amongst other benefits, it will help us offer superior service offerings with wider inventory and better pricing for air, hotel bookings, and other employee travel services.” Just last week, MakeMyTrip Limited said that its investor Naspers Limited and Chinese travel services provider Ctrip have entered into a share exchange agreement.
  • Apart from operating its own platform, MakeMyTrip also operates brands including Goibibo and redBus.

Read full article: yourstory.com