Business briefs

Government eMarketplace (GeM), under the Department of Commerce, on Monday said it has signed an MoU with Uttar Pradesh to set up a GeM Organisational Transformation Team Project Management Unit in the state. The pact aims to expedite the harmonisation of the procurement guidelines of the two entities and integration of systems, enabling seamless procuring experience.The MoU was signed by CEO, GeM, Talleen Kumar and Principal Secretary, Department of MSME and Export Promotion, Navneet Sehgal last week. Uttar Pradesh is the second state after Punjab to establish the unit for effectively utilizing this initiative towards inclusive, efficient and transparent procurement. * * **YOLO raises USD 600,000 in funding Intercity bus services start-up YOLO on Monday said it has raised USD 600,000 in seed funding from a VC Firm and a couple of angel investors.The funds raised by the Gurugram-based startup will be invested across territory expansion plans, technology and marketing strategies, a statement said. The company’s primary focus is to expand this full-stack bus services across the southern part of the country and aims to spread their wings across cities of Hyderabad, Bengaluru, Chennai, Coimbatore, Kerala and others, it added.YOLO, which has a fleet of more than 20 buses, offers inter-city transportation services. It has covered more than 8 lakh km with over 50,000 customers. * * **JITO Angel Network invests USD 225,000 in, AADAR JITO Angel Network on Monday said it has invested USD 225,000 in online funding solution provider for MSMEs – and in AADAR, an Ayurveda brand.The latest funding round for was closed this month with Ketan Kothari of emerging as the lead investor. Other Marquee Investors included Girish Jain from KJMC Financial Services Ltd, Sunil Singhvi from South Handlooms, Vinay Jain from MLM India and others, a statement said. The investment will help the company expand its operations and develop technology, as well as to create greater networking space and find more investors, it added.
(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.) Download The Devdiscourse News App for Latest News.

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