Ecosystem Weekly | 26th Apr '20
Facebook to buy minority stake in Reliance’s Jio Platforms for $5.7 bnFacebook Inc. will invest $5.7 Bn in the digital business of Reliance Industries Ltd, a deal that will help the social media giant expand its India presence and allow the oil-to-retail conglomerate to cut its huge debt pile.
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Delhi-based NBFC DMI raises $123M from South Korean gaming company Nexon
Delhi-based NBFC DMI Group has raised funding of $123 million from South Korean gaming company Nexon (NXC Corporation). This round of equity is led by DMI Limited, the holding company of the Indian lending arms of DMI.
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Startup News Snippets
M&A News
Market Pulse
- Bengaluru-based global biopharma startup designing novel broad-spectrum antibiotics Bugworks Research has raised $8 Mn from University of Tokyo Edge Capital, Japan and Global Brain Corporation, Japan, and Acquipharma Holdings, South-Africa
- Bengaluru-based online tutoring platform Vedantu Innovations has raised $7 Mn as part of its extended Series C round from South Korea’s KB Global
- IT security solutions startup Indusface has raised $5 Mn from Tata Capital Growth Fund II. The funding will be used by Indusface for global customer acquisition and product innovation
- Chennai-based API platform YAP has raised $4.5 Mn in its Series A round from BEENEXT, 8i Ventures Fund, The DMI Group via its AIF vehicle The Sparkle Fund, Better Capital, and HNIs
- Bengaluru-based Poncho Hospitality which operates cloud kitchen platform Box8 has raised $4 Mn as part of its ongoing Series C funding round from Mayfield and IIFL Seed Ventures Fund
- Motilal Oswal Real Estate, the real estate arm of private equity firm Motilal Oswal Private Equity has closed its India Realty Excellence Fund IV at $151 Mn
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