India

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Bangalore-Based Edtech Startup Unacademy Raises US$4.5M To Grow Its Educator Base

Unacademy, an Bangalore-based edtech startup providing free online learning platform, has raised US$4.5 million in its Series A round of funding, led by Nexus Venture Partners and Blume Ventures. With the new round of funding, Unacademy will grow its educator-base from 200 to 2,000 in the next one year, across varied exam preparation, language learning and professional growth topics.  
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Realty Startup Square Yards Raises US$10M

Square Yards, an online to offline real estate transaction player based out of Delhi, has raised US$10 million in fresh investment in the form of convertible notes from multiple individual investors. The new financing will help to accelerate their expansion into newer international geographies and at the same time strengthen their existing distribution network in 10+ countries.
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Mobile Payments Startup PhonePe Has Big Goals Beyond Parent Flipkart

Mobile payments startup PhonePe, which Flipkart bought last year, has set its sights high this year. In the process of launching the country’s first Unified Payments Interface-supported wallet for iOS, the startup is already aiming for a 100 million downloads by the end of 2017. The Android app has also received a facelift, complete with support for nine local languages.
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Housing.com and PropTiger Merged To Form India’s Largest Online Retail Service Company

PropTiger.com and Housing.com- announced today they have merged to form the country’s largest online retail services company. As part of the deal, the new company will receive a new US$55 million investment. US$50 million will come from REA Group Limited, an ASX-listed company specialising in property, and an affiliate of SoftBank Group Corp. will invest US$5 million.
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Mumbai-Based Fashion E-Commerce Startup Fynd Gets Funding

Mumbai-based fashion e-commerce startup Fynd has clinched an undisclosed amount of funding from Snapdeal’s former Chief Product Officer, Anand Chandrasekaran. Rajiv Mehta, CEO of Arvind Sports Lifestyle, and Ramakant Sharma, former VP (Engineering), Myntra and Co-founder of Livspace, have also participated in the round. The latest investment will be used for marketing and enhancing Fynd’s tech infrastructure.
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Amazon India Losses Double

Amazon Seller Services posted a loss of US$527 million in the fiscal year ending March 2016. However, the company’s revenues also jumped to US$335 million, compared to US$151 million in the same period last year. Amazon’s biggest expenses were in advertising and promotions, legal fees and salaries, and wages.  
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Exfinity Raises US$44M

A technology venture capital firm Exfinity Venture Partners has announced the final close of its second fund, with a corpus of INR300 crore (US$44 million).Exfinity’s first fund had a corpus of INR125 crore (US$18 million). Exfinity has made 11 investments in areas including AI, energy optimisation for data centres.
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