Ecosystem Weekly | 18th July’21

OYO raises $660M term loan funding from institutional investors
Oyo has announced that it has raised a Term Loan B (TLB) funding of $660 million from global institutional investors. The hospitality unicorn in its statement said that the offer was oversubscribed by 1.7 times.
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Reliance Retail to acquire 66.95% stake in Just Dial for $469 mn
Reliance Retail Ventures Limited (RRVL) announced it will acquire a controlling 66.95% stake in local search engine platform Just Dial Ltd for Rs 3,497 crore ($469 million).
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Startup News Snippets

M&A News

Market Pulse

• Vadodara-based specialty chemical manufacturer Tatva Chintan Pharma Chem has raised $21 million in funding from Goldman Sachs India, Abu Dhabi Investment Authority, Aberdeen Standard Asia Focus Plc, Malabar India Fund, Axis Mutual Fund, ICICI Prudential MF, HDFC MF, SBI MF, Aditya Birla Sun Life MF and SBI Life Insurance
• Bengaluru-based business-in-a-box platform for professionals Protonn has raised $9 million in seed funding from Matrix Partners India, 021 Capital, Tanglin Venture Partners, Binny Bansal, Kalyan Krishnamurthy, Neeraj Arora, Sujeet Kumar and Kunal Shah
• Bengaluru-based reseller platform OneCode has raised $5 million in funding from Surge, Nexus Venture Partners, WaterBridge Ventures, Aakrit Vaish, Amrish Rau, Anand Chandrasekaran, Arjun Vaidya, Ashish Dave, Cloud Capital, Gaurav Munjal, Harshil Mathur, Jitendra Gupta, Kunal Shah, Lalit Keshre, Miten Sampat, Pravin Jadhav, Rahul Mathur, Sandeep Srinivas, Sujeeth Kumar, Sweta Rau and Vivek Ananda
• Chennai-based aqua farmers’ network Aquaconnect has raised $4 million in pre-Series A funding from Rebright Partners, Flourish Ventures, AgFunder, 6G Capital, Omnivore, HATCH
• Bengaluru-based electric vehicle maker Ati Motors has raised $4 million in pre-series A funding from Blume Ventures, Exfinity Venture Partners and other HNIs