VP Weekly | 7 Jul ’19

July 7, 2019
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Droom Ready To Raise $250 Mn Ahead Of IPO in 2021
Automobile marketplace Droom has said it’s in the market to raise $250 Mn in a pre-IPO round. The company said it’s in talks with multiple institutional and strategic investors, as well as existing investors.
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Alternative Energy Firm ReNew Power Raises $300 Mn Via Rights Issue
Clean energy firm ReNew Power announced on Sunday that it has raised $300 Mn (approximately INR 2,050 Cr) through a rights issue.
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Startup News Snippets

M&A News

Market Pulse

  • The Bill & Melinda Gates Foundation and Tata Trust collaborated to set up the India Agritech Incubation Network (IAIN). With this, they are also launching ‘Social Alpha Quest for Agritech Innovations’ contest.
  • Former CEO of Kerala-based IT firm UST Global, Sajan Pillai shared plans to launch a $75 Mn venturecapital fund to boost the growth of Kerala startups.
  • Social e-commerce startup Shopmatic is looking to raise a $30 Mn Series B funding to expand its business and enable the online success of aspiring entrepreneurs, hobbyists, craftsperson, and small merchants.
  • Paytm and Chinese conglomerate Tencent are reportedly in talks to invest $100 Mn in Times Internet-owned OTT platform MX Player.
  • Sequoia Capital India reportedly launched a new seed fund. The VC firm is said to have registered its seed fund in Mauritius under the name of Sequoia Capital India Seed Fund I Ltd.
  • To fund its expansion plan, Alphalogic Techsys, Software Solutions Company, is coming up with an IPO and planning to get listed on the BSE Startup platform.
  • SoftBank Vision Fund, one of the world’s largest tech funds, plans to invest $2-4 Bn in India over the next two years as it bets heavily on sectors such as financial services.