Droom, mfine raise funding; Suresh Prabhu addresses entrepreneurs in Facebook live session

Daily Issue | 18th May Droom raises $30 M in Series-D round led by Toyota Tsusho Corporation, Digital Garage Droom, the transactional platform for automobiles, announced it raised Series-D funding of $30 million led by Toyota Tsusho Corporation, member of the Toyota Group, and co-led by Digital Garage of Japan. Through the latest funding and the ongoing support of investors, Droom aims to cement its position as India’s foremost online automobile marketplace. [Read More]( Neo-banking startup OPEN raises pre-Series A funding, looks to diversify into lending and wealth management Neo-banking platform OPEN, which offers digital banking services for small businesses, announced it had raised pre-Series A funding in a round led by Unicorn India Ventures and Recruit Co Ltd, through its investment subsidiary RSP India Fund LLC. Existing investors fintech-focused accelerator ISME-ACE and Vaibhav Domkudwar’s BetterCapital AngelList Syndicate also participated in the round. According to sources, the funds raised are expected to be around $2 million. [Read more]( Myntra co-founder finds his mojo in healthcare; raises $4.2M in Series A for mfine Having built one of the country’s biggest online fashion brands, Myntra Co-founder Ashutosh Lawania is at the starting line again. This time, it is the healthcare sector that has caught his fancy, and the result is mfine. App-based on-demand healthcare service mfine on Thursday announced it had raised $4.2 million as a part of its Series A funding in a round led by Prime Venture Partners, along with participation from existing investors Stellaris Venture Partners. [Read more]( Mentorship is important, but not the only prerequisite for startup success: Suresh Prabhu In a Facebook live session with the startup community, Union Minister for Commerce and Industry Suresh Prabhu addressed entrepreneurs’ queries and concerns and spoke on mentorship, regulations, profitability, and women entrepreneurship. He highlighted three key issues that aspiring entrepreneurs often face – the idea of starting up, converting an idea into a business solution, and then taking it through several hurdles like regulations, talent, and others. [Read more]( Say hello to YouTube Music, YouTube’s new one-stop-shop for music streaming Video streaming market leader YouTube has confirmed the launch date of YouTube Music, its new music streaming service. The new offering will launch next Tuesday, May 22, and will bring the music listening experience of YouTube into a brand new dedicated platform. The basic service will be ad-supported and free, but users can opt for an ad-free YouTube Music Premium service for $9.99 a month. YouTube also announced that it was rebranding its paid subscription service YouTube Red and relaunching it as YouTube Premium, at the price of $11.99 per month. [Read more]( Expand across Asia via Korea: K-Startup Grand Challenge 2018 The K-Startup Grand Challenge, conducted and financed by the South Korean government, offers startups a global platform a break into the robust Asian market. It will give startups access to world-class prototyping, testing facilities, and expert support. SMEs and startups can also participate in mutual exchange of information with technology research institutes and large, global companies, and winners will also get a $100,000 grant. Startups with a clear objective to expand into Asia by using the Korean market as a stepping-stone may register and apply here. Applications close 14 June. [Read more]( You are receiving these emails as you have subscribed to our newsletter. [Click here]( to unsubscribe..