Grabhouse.Com, a community-based online exchange for finding rented accommodation, today said it has received a funding of USD 2.5 million from Kalaari Capital and Sequoia Capital.
The Series A investment will be utilised to develop innovative products and improve the existing technology to enhance the end-user experience and to increase the company's footprint across major cities in India, Grabhouse said in a statement.
Founded in July 2013 by Pankhuri Shrivastava and Prateek Shukla, Grabhouse.Com received seed fund from India Quotient and MV Krishnan from Deutsche Bank as well as Chetan Bohra and Navin Ranka from RB & Partners.
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* MMPL launches PaySmart Prepaid card
MMPL, a Tata Teleservices subsidiary, today launched a open loop prepaid, Visa powered, card in partnership with RBL Bank (Ratnakar Bank).
The new service will provide a platform for the users to move away from traditional cash based transactions into an easy, secure and private mode of payment, the company said in a statement.
By obtaining a paysmart card, mRUPEE customers will be able to withdraw money from Visa licensed ATMs and also pay for goods and services at all merchants that accept Visa debit/credit cards nationally.
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* HTC launches new smartphone
Handset maker HTC today launched a new smartphone 'Desire 526G+ dual SIM', priced at Rs 10,400 onwards.
While the 8GB variant will be available at eCommerce firm Snapdeal exclusively for Rs Rs 10,400, the 16GB version will be available for Rs 11,400 across major retailers.
The smartphone has a high end camera and vibrant display for an amazing experience in the entry-level market, HTC said in a statement.
"HTC wants to empower the masses and put a good phone in everyone's hands, without compromising on features and specifications," HTC India Vice President and Country Head Faisal Siddiqui said.
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OYO Rooms adds new facility in its portfolio * Budget hotels chain OYO Rooms, which is aiming to have 30 new hotels with over 500 rooms in Mumbai in the next 12 months, has added a new facility near Mumbai Airport in its network.
The company has put its tariff competitively at Rs 1,499 for the new hotel and it would have features as comfortable beds, free Wi-Fi and complementary breakfast.
OYO Rooms is presently having a network of 10 hotels in Mumbai
Commenting on it, OYO Rooms CEO Ritesh Agarwal said:" Majority of our properties is coming up in premium, highly accessible locations; the Juhu property for example is located right next to a premium five star hotel & still priced at Rs 2,499".
