Grofers loss widens to Rs 448 crores

The company had posted a net loss of Rs 258.3 crore for the year ended March 2018, as per documents filed with the Corporate Affairs Ministry and sourced by business intelligence platform Tofler. Continue Reading

Ola ‘on ride’ with Microsoft for $200 million funding

Ride-hailing major Ola is in advanced talks with tech giant Microsoft to raise about $150-200 million (about Rs 1,050-1,400 crore) in funding, according to sources. The discussions are at an advanced stage and likely to be closed in the next 10-15 days, the sources privy to the development said. Continue Reading

Alibaba temporarily halts investments in India

Alibaba Group Holding Ltd, one of the biggest investors in Indian startups such as Paytm and Zomato, is temporarily halting fresh investments in the country as the Chinese e-commerce giant reviews its India strategy, four people aware of the development said. Continue Reading

SoftBank looks deeper into Indian mobility sector: Report

SoftBank’s move beyond ride-hailing could be a bet on the emerging two-wheeler rentals business and the Japanese firm has had engagements with companies such as Bounce, Vogo and Drivezy, though no investment plans are in the pipeline yet…. Continue Reading