In a move that would give a fillip to entrepreneurship among women, the Karnataka government announced an INR 10 crore Idea2POC (idea to proof of concept) fund on International Women’s Day. As part of this initiative, women entrepreneurs can participate in an open house, where they will be able to put forward their issues and problems.
Lavelle Networks, a Bangalore-based company which offers an SDN (software defined networking) platform for WAN (wide area network) management, has raised $600k from an early-stage VC fund Ideaspring Capital. The funding will be utilized for expansions and marketing.
Delhi-based online fresh fruits and grocery store, iOrderFresh has raised an undisclosed amount of funding from Singapore Angel Network Pte Ltd (SGAN), the angel investment arm of Singapore-based Thakral Group of Companies. Launched in December 2014, iOrderFresh allows customers across Delhi-NCR to order fresh fruits, vegetables, dairy, bakery products, pulses and organic food through its Android and iOS app.
Startups will soon be able to take loans of up to INR 5 crore without collateral through a credit guarantee scheme prepared by the government. The scheme is awaiting cabinet approval and is likely to become functional soon under the supervision of the Department of Industrial Policy and Promotion.
Jasper Infotech, which owns and operates e-commerce platform Snapdeal, has put in an additional INR 30 crore in its digital payments platform Freecharge.