Fri, Apr 28, 2017 | updated 11:56 AM IST

Unocoin raises USD 1.5m to set national record

Updated: Sep 30, 2016 14:06 IST      
Unocoin raises USD 1.5m to set national record

New Delhi [India], Sep 30 (ANI): Bangalore based Bitcoin startup Unocoin has raised USD 1.5 million in a Pre Series-A round, the highest total raised for a digital currency venture in Indian history.

Funding was sourced from well-known Indian entities such as Blume Ventures, Mumbai Angels and ah! Ventures along with prominent international investors such as Digital Currency Group, Boost VC, Bank to the Future, Bitcoin Capital and FundersClub.

"We're honored to have this type of support from top investors," said Co-founder and CEO Unocoin, Sathvik Vishwanath.

"We started from my small hometown called Tumkur near Bangalore and our goal from the beginning was to make it easy to get bitcoin in India," added Vishwanath.

Blume Ventures, headquartered in Mumbai, has played a pivotal role in leading the Unocoin Pre Series A round. According to Karthik Reddy from Blume Ventures, it was the belief in the team at Unocoin that encouraged Blume to participate.

"In Sathvik and team, we discovered not only the leading Bitcoin company in India, but a determination to educate all stakeholders, simplify Bitcoin's usage, and bring another frictionless layer to payments and commerce. We are confident that Unocoin will further alter the landscape and make additional inroads into remittances and e-commerce in India," added Reddy.

Digital Currency Group, based in New York City, supports Bitcoin and block chain companies by leveraging their insights, network, and access to capital with over 80 investments in more than 25 countries.

Barry Silbert, Founder and CEO of Digital Currency Group, said, "Since making our first investment in Unocoin, it has been tremendous to see the company solidify its position as the leading Bitcoin company in India, as well as emerge as one of the fastest growing companies in DCG's global portfolio of 80 Bitcoin and blockchain companies.

"Unocoin continues to make an enormous impact on the global Bitcoin market and will continue to be a global market leader. Proud to have them be a part of Boost VC. They just keep growing," said Founder of Boost VC, Adam Draper.

"It's no secret that usage of Bitcoin is picking up rapidly and the concept has seen a warm welcome from freelancers and retailers in India. That's when Unocoin, a venture backed by a strong team with industry acumen and a rocketing number of users, caught our attention. We believe Unocoin will continue to be one of the strongest players in India's booming crypto-currency market," added Founder and CEO of ah! Ventures, Harshad Lahoti. (ANI)

New Delhi [India], Apr 28 (ANI): According to a report published by the Deutsche Bank, the government has two more years to're-energise' the economy, re-start the investment cycle and accelerate job growth.

Full Story >>

FreeCharge launches coupons to enhance user engagement

Updated: Apr 28, 2017 08:43 IST     

New Delhi [India], Apr 28 (ANI): Digital payment platform FreeCharge on Thursday announced the launch of coupons on its e-wallet to enhance user engagement and reactivation.

Full Story >>

77 percent Indian companies eyeing expansion in 2017: Survey

Updated: Apr 28, 2017 08:34 IST     

New Delhi [India], Apr 28 (ANI): Driven by positive economic sentiment, 77 percent of senior finance executives of Indian companies surveyed expect moderate to substantial economic expansion in 2017, according to the Global Business and Spending Outlook survey released on Thursday.

Full Story >>

New Delhi [India], Apr. 28 (ANI): A high-level committee, headed by finance secretary Ashok Lavasa, submitted its report on Thursday, on allowances of 47 lakh government employees, to Finance Minister Arun Jaitely.

Full Story >>

New Delhi [India], Apr 27 (ANI-NewsVoir): Bengaluru is set to play host to national and international cosmetic dermatologists at the 12th Edition of World Congress of Cosmetic Dermatology (WCOCD) from May 4th to 6th 2017 at Dr. Babu Rajendra Prasad International Convention Centre, GKVK.

Full Story >>

New Delhi [India], Apr 27 (ANI-BusinessWireIndia): Mech Mocha, an India-focused Bangalore-based mobile gaming start-up, today announced that it has raised USD five million Series A funding led by Accel Partners and Shunwei Capital and with participation from existing investor Blume Ventures.

Full Story >>

Treebo makes business travel easy with 'Treebo for Business'

Updated: Apr 27, 2017 16:29 IST     

New Delhi [India], Apr 27 (ANI): Largest hotel chain Treebo Hotels has announced the launch of 'Treebo for Business' to offer a seamless booking experience to its corporate clients, which will allow the users to check real-time room availability, make instant bookings, avail the customized rates offered to them, make online cancellations and access booking history and preferred choices of employees.

Full Story >>

New Delhi [India], Apr 27 (ANI-NewsVoir): Shardul Amarchand Mangaldas and co. (SAM and Co.) acted in relation to the Rs. 1,193 Cr. Offer For Sale (OFS) of National Aluminium Company Limited (NALCO).

Full Story >>

New Delhi [India], Apr 27 (ANI): Missouri State University has announced special scholarships for Indian students. During his visit to India Colonel Stephen Robinette Associate Vice President, International Studies, MSU, USA, made a number of important announcements for Indian Students.

Full Story >>

New Delhi [India], Apr 27 (ANI): Though the government has come out with a National Intellectual Property Rights (IPR) Policy to promote a robust intellectual property (IP) environment across India, we need an ecosystem to take a good idea to a logical end even before it is commercialised, Union Railway Minister Suresh Prabhu said at an ASSOCHAM event held in New Delhi last night.

Full Story >>

New Delhi [India], Apr 27 (ANI): ExportersIndia.com, a B2B marketplace and exporters directory that connects manufacturers, exporters, suppliers and buyers to generate value from unlimited online trade opportunities and buyer enquiries on Thursday announced that, apart from India, countries like China, Sri Lanka and Taiwan are also witnessing a glaring surge in cooling products, this summer season.

Full Story >>

OYO launches its first hotel in Kathmandu

Updated: Apr 27, 2017 15:04 IST     

New Delhi [India], Apr 27 (ANI): Aiming to venture into the market in Nepal, budget-hotels network OYO announced the launch of its debut hotel in Kathmandu, following its successful venture into Malaysia in January 2016, where it has now grown to 200 hotels.

Full Story >>

Cash Suvidha strengthens financial access to Indian students

Updated: Apr 27, 2017 14:55 IST     

New Delhi [India], Apr 27 (ANI-Businesswire India): Cash Suvidha, one of India's fastest growing Fintech company has recently announced its partnership with KrazyBee, a Bengaluru based micro-lending platform, with an aim of facilitating easy and quick financing solutions for college students to pursue their passion.

Full Story >>

New Delhi [India], Apr 27 (ANI): On the occasion of Akshaya Tritiya, online payment platform Paytm on Thursday announced its collaboration with India's only Internationally Accredited Refinery MMTC-PAMP to launch Digital Gold, enabling Indians to buy, store and sell pure gold instantly.

Full Story >>

New Delhi [India], Apr 27 (ANI): According to the J.D Power 2017 India Two-Wheeler Customer Service Index (2WCSI) Study released on Thursday, when service dealers effectively communicate with customers at key junctures while servicing a two-wheeler at original equipment (OE)-authorised service centers, overall customer satisfaction notably improves.

Full Story >>

New Delhi [India], Apr 27 (ANI): Tata Motors on Thursday signed a contract for the supply of 3192 units of the Tata Safari Storme 4x4 to the Indian Armed Forces, under a new category of vehicles - GS800 (General Service 800).

Full Story >>

New Delhi [India], Apr 27 (ANI): Dismissing the proposal put forth by a member of NITI Aayog, Minister of State for Finance Santosh Kumar Gangwar on Thursday stated that no taxes will be levied on agricultural income.

Full Story >>

Vihaan Networks bags North East connectivity project of BSNL

Updated: Apr 27, 2017 13:08 IST     

New Delhi [India], Apr 27 (ANI): Indigenous telecom equipment manufacturer Vihaan Network Limited (VNL) bagged Rs. 1648 crore telecom infrastructure project of state-owned Bharat Sanchar Nigam Ltd for providing connectivity in over 4000 villages in remote areas of Arunachal Pradesh and Assam.

Full Story >>

New Delhi [India], Apr 27 (ANI): Edelweiss Tokio Life Insurance, the joint venture between the Edelweiss Group and Tokio Marine Holdings of Japan, on Wednesday obtained approval from the Insurance Regulatory and Development Authority of India (IRDAI) for 'POS - Saral Nivesh' , which will be sold over the counter for the first time in India under the POS (Point of Sale) guidelines.

Full Story >>

PVR Cinemas signs five-theatre deal with IMAX

Updated: Apr 27, 2017 10:12 IST     

New Delhi [India], Apr 27 (ANI): Multiplex chain PVR Ltd. on Wednesday signed an agreement with IMAX Corporation to add five more IMAX theatres in the Indian market. Through this rollout, PVR cinemas will reach a count of 10 IMAX screens and retain its position as the largest IMAX partner in India.

Full Story >>