Startups in India cut global hiring Gone are the days when bigger e-commerce players would hire vice presidents for Rs 1-1.5 crore plus stock options that would be worth another Rs 1 crore a year. The company said the funds will also be used to expand its reach and aim for the global market. BENGALURU: Smartivity , an augmented reality-based education technology startup, has raised $1 million (about Rs 6.6 crore) in a pre-Series-A round of funding led by publishing firm S Chand and early-stage investment firm AdvantEdge Partners.The round also saw participation from Singapore-based fund CFG Offshore Holdings, Silicon Valley -based fund Tandem Capital and a clutch of angel investors. "Smartivity has shown tremendous growth over the past 12 months with a high focus on product design and execution and has built a portfolio of innovative products," said Gaurav Jhunjhnuwala, director of S Chand Group. Startup summit: Chinese investors show interest in Indian startups Mobile10X, a programme initiated by the Internet and Mobile Association of India (IAMAI) along with OnionFans, a Singapore-based tech media and venture fund, organised a two-day startup summit, where over 150 early-stage startups pitched to 15 Chinese investors.

Source: Times of India May 16, 2016 00:32 UTC