Ecosystem Weekly | 06th Sept ’20

Silver Lake to invest in Reliance Retail
Private equity firm Silver Lake is looking to invest close to $1 Bn in Mukesh Ambani’s Reliance Retail for about 1.8% stake.

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Norway’s Orkla to take control of Eastern Condiments, merge with MTR Foods
Norwegian consumer goods maker Orkla has decided to acquire a majority stake in Eastern Condiments Pvt. Ltd and merge it with wholly-owned unit MTR Foods Pvt. Ltd in a deal that will help it double its sales in India.
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Startup News Snippets

M&A News

Market Pulse

• Delhi-based vernacular gaming platform WinZO has raised $18 Mn in Series B from Makers Fund and Courtside Ventures
• Bengaluru-based fintech startup Avail Finance has raised $11 Mn in Series B from Alpha Wave Incubation
• Bengaluru’s technology-based home interiors service provider HomeLane has raised $8 Mn in bridge round from Stride Ventures and other existing investors
• Bengaluru-based global recruitment platform for blue/gray collar workforce Apna.co has raised $8 Mn in Series A funding from Lightspeed India and Sequoia Capital India
• Bengaluru-based AI powered emotional intelligence platform Entropik Tech has raised $8 Mn in Series A funding from Alpha Wave Incubation
• New Delhi-based Oncquest Laboratories has acquired a large diagnostics lab in Gurugram from Strand Life Sciences as part of its plans to expand its operations in India