SoS Digest/ 08-01-17 to 15-01-17

Startup news
  1. Union Finance Minister Shri Arun Jaitley Launches Airtel Payments Bank

Airtel Payments Bank, India’s first payments bank, today commenced national operations with services now LIVE in all 29 States of India. Shri Arun Jaitley, Hon’ble Union Minster of Finance and Corporate Affairs formally launched Airtel Payments Bank’s national operations today, marking a major milestone in the history of India’s financial services sector. Also present on the occasion were Sunil Bharti Mittal, Chairman, Bharti Enterprises; Uday Kotak, Executive Vice Chairman & MD, Kotak Mahindra Bank; Gopal Vittal, MD & CEO (India & South Asia), Bharti Airtel; and Shashi Arora, MD & CEO, Airtel Payments Bank.


  1. Introducing ‘TimeSync’, A New WiFi Standard Syncs Home Devices In Real-Time

The year 2017 started on a high for all the tech enthusiasts as CES, which is a global consumer electronics and consumer technology tradeshow took place in Las Vegas, Nevada from Jan 5-8, and gifted the world with quite a few tech innovations. Among those, one particular tech announcement that caught everyones attention was the unveiling of a new Wi-Fi standard, called TimeSync. Released by the Wi-Fi Alliance, the new Wi-Fi standard makes wireless connections within the Internet of Things a reality and serves as a real threat to the capabilities of wired systems.


  1. India’s cheapest welding simulator, SkillVeri, raises Rs 8 Cr from Michael & Susan Dell Foundation, Ankur Capital

Skillveri Pvt. Ltd, a skilling platform that trains workers for manufacturing and production jobs, has raised a Series A round of investment of Rs 8 crore from the Michael & Susan Dell Foundation and Ankur Capital. Ankur Capital had already infused some funds into the startup in the form of a seed investment in 2015. The creators of the first welding simulator made in India, Skillveri will leverage this investment to enable the training of 500,000 youth for well-paying aspirational manufacturing jobs over the next five years.


  1. IoT monitoring startup Roambee raises $4.1M series B round

Roambee, a Silicon Valley and India-based Internet of Things (IoT) monitoring startup, on Thursday announced that it had raised $3.1 million in strategic investment from Deutsche Telekom’s corporate customer arm, T-Systems, and $1 million from its existing unnamed Silicon Valley-based investors. This takes the startup’s Series B total to $4.1 million. Through a global partnership, Roambee and T-Systems aim to digitise global enterprises through real-time logistics-tracking and provide visibility solutions for goods and assets in the Americas, Africa, Asia, and Europe.


  1. New exit norms will help failed startups

Companies will find it easier to shut shop by getting their names removed from the corporate register.As not all startups take off, the new provisions are expected to help entrepreneurs. Once this quick process is carried out, inoperative companies do not have to go through the tedious and time-consuming process of a voluntary winding up. While removal of a name entails an application fee of Rs 5,000 plus ancillary allied costs, the entire process of a voluntary winding up -which requires a shareholder and creditor meeting, and the appointment of a liquidator -could cost multiple times more.


  1. Top level exits plague Apple in India

Eight senior managers at the local operations of Apple have resigned in the past two months. Industry executives cited dissatisfaction among some employees, with new country head Sanjay Kaul giving more emphasis on recruiting talent from consulting background and huge pressure on sales target, for the series of rare exits at the managerial level of the iPhone maker.


  1. Bangalore-based Company Offering New-age Tracking Solutions For A Safer, Smarter World

Not having to worry about your child’s safety even when she’s not in front of your eyes. A timely message from your spouse about the delay in reaching home by office cab. Assurances like these are priceless in today’s unsafe environment where we spend so much time worrying about the safety of our loved ones on a daily basis. Asti Infotech, a Bangalore based software company, decided to tackle these important issues by working on comprehensive, intelligent and user-friendly tracking solutions.


  1. Flipkart Appoints Kalyan Krishnamurthy As New CEO; Binny Bansal Takes Over As Group CEO

Former Tiger Global executive Kalyan Krishnamurthy has been named as new CEO of Flipkart in a management restructuring at India’s largest online retailer, with current CEO Binny Bansal moving up to Group CEO.


Team SoS

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