Walmart Labs, the technology arm of Bentonville, Arkansas-headquartered Walmart, acquired two startups based in India to strengthen its customer service systems. Bangalore-based FloCare, a health tech firm, is one of them. It builds products and technologies that enables seniors to access affordable and scalable healthcare services. The company, co-founded by a...
U.S. Invests the Most in India's Startups
According to New York-based CB Insights, U.S.-based investors are the most active foreign participants in India’s start-up ecosystem over the past five years, making over 800 equity deals during the period. In the list of top five foreign investors in India’s technology ecosystem, U.K., with 1% of deals stood at...
Five Trends for India Startups
Forbes reports that the underlying theme in India's startup ecosystem will be consolidation. The publication mentions five trends for this year's startup ecosystems: Growth of Vertical SaaS Vertical SaaS caters to a specific vertical, like hospitality, travel or retail, and data from startup analytics firm Tracxn, claims that over 60 startups...
Software as a Service Booms in India
Forbes reports that according to a joint research report by Google and Accel Partners, by 2025, companies in India are likely to command 8% share of the global SaaS market which could be worth $10 billion annualy. Tracxn, a startup intelligence and market research platform, says that since 2010 India's...
India's Forus Health Establishes Subsidiary in California
Bangalore, India-based Forus Health, a medical devices startup, established its first wholly-owned subsidiary Forus Health Inc, in San Leandro, California. The company hired Dr. Cliff Wright, formerly with Johnson & Johnson, Bausch + Lomb, as executive vice president for North America, and Armond T. Dantino, formerly with Johnson & Johnson...
Flipkart Claims User Base Exceeds 100 Million
India's e-tailer Flipkart crossed the 100-million registered users mark, becoming the first e-commerce company in the country to hit the milestone. Its investors include Tiger Global, Naspers, Accel Partners, Morgan Stanley Investment Management, T Rowe, and GIC, Singapore’s sovereign wealth fund. The Bangalore-based company doubled its user base over the...