Ecosystem Weekly | 31st May '20
IndoStar Capital Finance raises $162 Mn from BrookfieldWith this investment, Brookfield will become a co-promoter with 24.6% stake, along with IndoStar Capital Mauritius having 45.2% holding at present
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Serum Institute parent sells Czech unit to Novavax for $167 mn
Cyrus Poonawalla Group, the parent of vaccine developer Serum Institute of India has sold a Czech unit to Nasdaq-listed biotechnology company Novavax for $167 Mn in cash
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Startup News Snippets
M&A News
Market Pulse
- Gurugram-based Hoi Foods, which operates several cloud kitchens, has raised $2 Mn in a pre-Series A funding round from 1Crowd, Sprout, Angelist, and other HNIs
- India subsidiary of Germany-based Dr Willmar Schwabe GmbH has acquired New Delhi-based nutraceutical business Sanat Products for an undisclosed amount
- Mumbai-based video meta-tagging platform Toch has raised $1 Mn from SOSV and its accelerator, Chinaccelerator, 9 Unicorns Fund, and Inflection Point Ventures
- Hyderabad-based drugmaker Granules India has completed the exit from Granules OmniChem an equal JV with Belgian firm Ajinomoto Bio-Pharma Services for a total consideration of $15 Mn
- Delhi-based healthtech startup in the telemedicine vertical Remedo has raised an undisclosed amount in its pre-Series A round from River Rock Ventures, Inflection Point Ventures, AngelList, and other HNIs
- Japan-based SoftBank will raise $500 Mn – $750 Mn for SBG Cleantech, which is a JV between SoftBank, India’s Bharti Enterprises and Taiwan’s Foxconn
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