For the first time, Swedish furniture retailer IKEA is exploring ecommerce in India, confirming the launch of its online delivery in Mumbai before opening a physical store. The reason – it already has a distribution hub in the state. IKEA has set up a 270,000-square-feet distribution centre in Pune in partnership with IndoSpace Industrial Park, which is leased, at a cost of Rs 20 crore per year.In fact, IKEA has already partnered with UrbanClap to install and assemble furniture as initial research showed Indians are not do-it-yourself aficionados. It plans to set up 40 centres across India in less than a decade, and is banking on building a strong distribution network

Publication : Yourstory

Date : 19 July 2019

The Union Budget 2019 clearly established the roadmap envisaged by our Government – setting India on the course to become a $5 trillion economy by 2024. What was really heartening to witness was how the honourable finance minister made it quite clear that startups and entrepreneurs will be playing a crucial role in making this a success; by introducing a slew of incentives for startups in India. For any entrepreneur, the resolution of angel tax is a big advantage. Whether they raised capital from angels or other investors, the subsequent relief in terms of capital gains, valuation and taxation are huge.

Publication : Entrepreneur

Date : 19 July 2019

India has a robust and vibrant startup base of over 40,000 companies that is growing at a steady pace. A digital revolution powered by smartphones, a sizable middle class with growing disposable incomes and a consequent rise in consumerism are some factors that have propelled this growth. This is not exactly a recent occurrence, but rather the latest development in an evolutionary curve that can be traced back four decades. The late eighties saw the birth of IT companies, some of whom became giants on the global economic map after the IT revolution.

Publication : Sunday Guardian

Date : 20 July 2019

Start-ups and experts welcomed the Centre’s move to encourage only genuine start-ups by introducing an amendment to the Finance Bill, passed by Lok Sabha on Thursday. This includes a penalty of 200 per cent for not complying with the conditions laid down for availing angel tax exemption.“The finance minister has assured start-ups that they would be protected from the hassles of angel tax. Earlier, only registered start-ups were given exemption from angel tax. But now, it has been extended to all start-ups submitting the prescribed forms. This is a welcome change and will be of great help to the start-ups.

Publication : Business Standard

Date : 20 July 2019

RentMojo, a Bengaluru-based appliances and furniture rental startup, has bagged ₹1.16 crore from Renaud Laplanche, cited yourstory. Renaud Laplanche is the CEO and co-founder of Upgrade. While, according to the reports, the company has issued 125 series C compulsory convertible preferences shares at a premium amount of ₹92,707.42 per share.

Publication: The Indian Wire

Date: 20 July, 2019