Get All Access for $5/mo

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

Science & Technology

Why We Shouldn't Fear AI in Education (and How to Use It Effectively)

Facing resistance to new technologies in the educational process is nothing new, and AI is no exception. Yet, this powerful tool is set to overcome these challenges and revolutionize education, preparing students and professionals for a future of unparalleled efficiency and personalized learning.

Business News

A Former Corporate Lawyer Now Makes Six Figures on YouTube — Here's How She Does It

Here are the secrets to starting and growing a successful YouTube channel, according to a YouTuber with millions of subscribers.

Growing a Business

How to Determine The Ideal Length of Your Marketing Emails Your Customers Will Actually Read

Wondering how long your marketing emails should be? Here's what consumers say — so you can send them exactly what they like.

Business News

New Southwest Airlines Major Investor Wants to Force Out CEO, Slams Company's 'Stubborn Unwillingness to Evolve'

Elliot Investment Management announced a $1.9 billion stake in the Dallas-based Southwest Airlines on Monday and is urging shareholders to vote for new leadership.

Business News

Elon Musk Threatens to Ban Employees from Using Apple Products, Says Will Lock Devices in 'Cages'

The Tesla founder sounded off on X following Apple's 2024 Worldwide Developer Conference on Monday.