InMobi’s Glance raises $45M to expand outside of India
Glance, a subsidiary of Indian mobile ad business firm InMobi, said today it has raised $45 million as it prepares to scale its business outside of India and expand its product offerings. The unnamed, maiden financing round for Glance was funded by Mithril Capital, a...
Xiaomi has shipped 100 million smartphones in India
Xiaomi said on Friday it has shipped over 100 million smartphones in India, its most important market, since beginning operations in the nation five years ago. The company cited figures from research firm IDC in its claim. The Chinese giant, which has held the top...
8-month-old startup FPL Technologies raises $4.5M to improve credit card experience in India
An eight-month-old startup in India that wants to improve the user experience of credit card holders in the nation has received the backing of at least two major investors. Pune-based FPL Technologies said Thursday it has raised $4.5 million in its maiden financing round from...
India’s mobile payments firm MobiKwik reaches rare key profit milestone
Indian mobile payments firm MobiKwik has reached a milestone very few of its local rivals can even contemplate: not burning money. The 10-year-old Gurgaon-headquartered firm said Tuesday it is now generating a profit excluding interest, taxes, depreciation, and amortization. “We have been in an ecosystem...
PayPal-backed money lender Tala raises $110M to enter India
Tala, a Santa Monica, California-headquartered startup that creates a credit profile to provide uncollateralized loans to millions of people in emerging markets, has raised $110 million in a new financing round to enter India’s burgeoning fintech space. The Series D financing for the five year-old...
YC-backed Lokal wants to bring local news, classifieds to 900 million Indians in their regional languages
Each month millions of Indians are coming online for the first time, making India the last great growth market for internet companies worldwide. But winning them presents its own challenges. These users, most of whom live in small cities and villages in India, can’t speak...
Huawei pushes back launch of 5G foldable, the Mate X
If you were desperately ripping days off of your calendar until you could get your hands on Huawei’s $2,600 5G foldable, the Mate X — which was originally slated to launch next month — it sounds like you’re going to have to wait a bit...
Xiaomi tops Indian smartphone market for eighth straight quarter
Xiaomi has now been India’s top smartphone seller for eight straight quarters. The company has become a constant headache for Samsung in the world’s second largest smartphone market as sales have slowed pretty much everywhere else in the world. The Chinese electronics giant shipped 10.4...
India’s Reliance Jio inks deal with Microsoft to expand Office 365, Azure to more businesses; unveils broadband, blockchain, and IoT platforms
India’s Reliance Jio, which has disrupted the local telecom and features phone businesses in less than three years of its existence, is now ready to aggressively foray into many more businesses. In a series of announcements, the subsidiary of India’s largest industrial house Reliance Industries...
HarmonyOS is Huawei’s Android alternative for smartphones and smart home devices
After months of conflicting statements from Huawei executives, the Chinese networking giant on Friday officially unveiled HarmonyOS, the much-anticipated microkernel-based, distributed operating system that it has developed to power smartphones, laptops, and smart home devices as the company attempts to reduce its reliance on American...
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