Ecosystem Weekly | 10th May '20

May 10, 2020

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GSK sells $3.35 Bn stakes in Hindustan Unilever

GlaxoSmithKline sold its stake in Unilever’s Indian business for $3.35 Bn, which Refinitiv says is the largest block trade ever to have been carried out in India.
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Reliance gets third investor for Jio, sells $1.5 bn stake to Vista Equity

US-based Vista Equity Partners will invest $1.5 Bn in Reliance Industries’ digital unit, Jio Platforms Ltd.
The firm’s investment will translate into a 2.32% stake in Jio Platforms on a fully diluted basis.
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Startup News Snippets

M&A News

Market Pulse

Bengaluru-based AI-based SaaS startup Vernacular.ai has raised $5 Mn in Series A funding from Exfinity Ventures, Kalaari Capital, AngelList, IAN Fund, and LetsVenture
Mumbai-based merchants payment platform Mintoak Innovations has raised $2 Mn in a pre-Series A funding round from Pravega Ventures and existing investors
Delhi-based sports community platform Rooter has raised $2 Mn in pre-Series A funding from Paytm, leAD Sports, Rockstud Capital and Founder Bank Capital
Bengaluru-based Terrals Technologies owned mobile-first healthcare services platform Phable has raised $1 Mn in a pre-Series A funding round from Inflection Point Ventures
Bengaluru-based Business-to-business agritech startup Clover Ventures has raised $922K in venture debt from Alteria Capital
Noida-based Aadventure Infotech, which owns and operates fintech platform LoanAdda, has raised an undisclosed amount from ah! Ventures, PRAAK Investments and Ratnaafin Group