India’s leading digital wallet provider Paytm has received a final licence from the Reserve Bank of India for its payments bank, clearing the way for its launch next week.
Honeywell International Inc has launched a $100 million investment fund that will focus on technology startups. Aerospace will be one of the key focus areas of the fund.
Fintech startup PaySense, which runs a digital credit platform, has raised its Series-A round, led by Jungle Ventures with Naspers Group and Nexus Venture Partners. The startup had earlier raised $2.3 Million from Nexus Venture Partners and angel investors in 2015.
Online luxury tea brand The Good Life Company has raised $1 million in seed funding from actress Ayesha Takia Azmi and her husband Abu Farhan Azmi. Launched in 2016 by former Boston Consulting Group executives Bhuman Dani and Shariq Ashraf, the startup claims to offer over 300 varieties of in-house tea blends.
Online water pump retailer PumpKart has closed a seed round of funding from Ritesh Malik, founder of Innov8 and Project Guerrilla. Launched as a B2C platform to sell pumps online in 2014, PumpKart pivoted to a B2B model in 2016, where it now partners with retailers and sources products directly from manufacturers.