Missed Out Startup Essentials Of The Week? Here Is A Roundup A weekly recap for you to keep you up-to-date with startup world.

By Samiksha Jain

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

World Wide Web

Last week was the roller coaster for startup and eCommerce industry. At one end we saw massive funds following in, whereas on the other hand government policy grab the eye balls of the readers. Our Start Up Your Day recaps is here to keep you posted every week.

Government Policy

The Indian government has allowed 100% Foreign Direct Investment (FDI) in online retail consumer businesses that operate as marketplaces, The Department of Industrial Policy and Promotion said in a notice on March 29. Marketplace model means the companies act as a facilitator between buyers and sellers by providing a technology platform, and not really owning them entirely.

Funds Rolling In:

Picsdream, a marketplace for photography lovers has raised angel funding led by Raman Roy, CMD, Quatrro and Co-founder of Indian Angel Network. Other prominent investors include Ankit Nagori, Ex-CBO Flipkart and Harish Natarajan, Former CEO Bausch & Lomb India. Ankit and Harish have also joined the company's Board of Directors.

A matchmaking app for South Asian expatriates, Dil Mil has raised $2.7 million (around Rs 18 crore) in pre-Series A funding from Nelstone Ventures, Transmedia Capital, Maiden Lane Ventures, CSC Upshot and a bunch of angel investors.

Gurgaon-based Process Nine Technologies Private Limited has raised an undisclosed amount in a pre-Series A round of funding. Startup offers online translation and transliteration from English to Indian languages via a cloud-based application programming interface (API).

They're Acquiring

Flipkart, eCommerce giant has acquired Bangalore-based mobile payments company PhonePe. It is its third acquisition in the payments solution space.

It's time:

Former vice president and head of the seller business at Flipkart, Manish Maheshwari has joined Mukesh Ambani-owned Network18 Media and Investments Ltd. Maheshwari has been appointed as the CEO of Web18, the mobile and Internet arm of Network18 group.

It's Not a Joke

Indians no more wait for Tesla Motors' compact four-door sedan Model 3 as Tesla said the car is open for pre-ordering from India too in a glitzy ceremony in California on Thursday.

For more news on startups and its ecosystem, stay tune to Entrepreneur.com.

Samiksha Jain

Former Staff, Entrepreneur.com

Related Topics

News and Trends

Kaynes Semicon To Invest INR 4,000 Crore On OSAT/ATMP

The investment is expected to create around 1,000-plus jobs


International Security Firm Welcomes Female India Native to an Essential Leadership Position

Yasmin Brar has been appointed as the Operations Strategy Director, a role that underscores the company's commitment to innovation, expansion, and strategic management

Growing a Business

Expand Your Knowledge and Unlock Success With These Must-Read Business Books

Top business books to ignite your entrepreneurial journey.

Health & Wellness

How Taking Up Boxing Transformed My Outlook on Entrepreneurship

Few things have taught me more about entrepreneurship than getting into boxing. Here are the three most important lessons I've learned from my time in the ring.

Business News

A Former Disney Star Just Launched a Space Startup With $6.3 Million in Seed Funding. Here's Why She Did It.

Bridgit Mendler co-founded Northwood Space to bring data from space reliably down to Earth.