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Ecosystem Weekly | 06th Sept ’20

September 6, 2020
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

Ecosystem Weekly | 30th Aug ’20

August 30, 2020

PAG to acquire 51% in wealth management, investment banking biz of Edelweiss for Rs 2,244 cr
PAG has agreed to buy a controlling stake in the wealth management and capital markets business of Edelweiss Financial Services that also includes investment banking, its first large deal in the country after setting up a local base in 2019.
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BYJU’S raises Rs 908.9 Cr from DST Global
Edtech startup BYJU’S is raising about Rs 909 crore in funding from billionaire Yuri Milner-led DST Global, according to regulatory documents.
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Startup News Snippets

M&A News

Market Pulse

  • Mumbai-based credit platform Blacksoil Capital has raised $3 Mn from 60+ investors through a private placement of Non-convertible Debentures
  • Gurugram-based health education startup Virohan has raised $3 Mn in Seed and Series A funding from Keiretsu Forum, Elea Foundation for Ethics in Globalisation and the Singh Family Trusts
  • Delhi-based Baazi Games has raised $2 Mn in seed round funding from Udtara Ventures for its RummyBaazi platform and Baazi Games will infuse another $1 Mn to expand its Rummy platform in India
  • Chennai-based EV battery startup Grinntech has raised $2 Mn from a set of HNIs and senior people from the automotive industry
  • Gurugram-based social commerce platform OneCode has raised an undisclosed amount from WaterBridge Ventures

 

Ecosystem Weekly | 23rd Aug ’20

August 23, 2020

Lightspeed raises $275 million in funds for India
Lightspeed India Partners on Tuesday announced it has closed $275 Mn from LPs for its third fund as the top American venture firm looks to ramp up its investments in the world’s second-largest internet market.
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Baring PE Asia betting $133 Mn on RBL Bank; Gaja to return, CDC topping up
Baring Private Equity Asia will become the biggest shareholder of India’s mid-sized private-sector lender RBL Bank by picking up a 9.45% stake in the latest fundraising cycle worth $210 Mn
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Startup News Snippets

M&A News

Market Pulse

  • Bengaluru-based tech VC fund Chiratae Ventures has raised $10 Mn from UK-based CDC Group
  • Bengaluru-based Indian short-form video app Mitron has raised $5 Mn from Nexus Venture Partners
  • Bengaluru-based private earth imaging startup Pixxel has raised $5 Mn in seed funding from Blume Ventures, growX Ventures, and     Lightspeed Ventures
  • Bengaluru-based water purifier startup DrinkPrime had raised $3 Mn in pre-Series A round of funding from Sequoia Capital and               Omidyar Network India
  • Bengaluru-based education startup Masai School has raised $2 Mn in Pre-Series A round of funding from Unitus Ventures, India
  • Quotient and AngelList India
  • Bengaluru-based freshwater fish and seafood supply chain platform Captain Fresh has raised $2 Mn in pre-Series A round of                 funding from Ankur Capital, Incubate Fund India, and angel investors

Ecosystem Weekly | 16th Aug ’20

August 16, 2020

Shell eyes stake in Nayara’s $9 bn petrochemical project
Oil major Royal Dutch Shell plans to buy a 50% stake in Indian-based Nayara Energy’s up to $9 billion planned petrochemical project
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E-health cos Medlife and PharmEasy in talks for $200 million merger deal
E-health companies Medlife and PharmEasy are in talks for a merger deal valued at $200-$250 million
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Startup News Snippets

M&A News

Market Pulse

  • Bengaluru-based indigenous short video-sharing app Chingari, has raised $1 Mn in a seed round from venture capitalists, including AngelList India, Utsav Somani’s iSeed, Village Global, LogX Ventures, and Jasminder Singh Gulati of NowFloats
  • California-based online climate school Terra.do has raised $1 Mn in seed round from Stanford Angels and Entrepreneurs (India), BEENEXT Emerging Asia and Zerodha-backed Rainmatter Capital
  • Mumbai-based fintech startup has raised $1 Mn in seed round from Orios Venture Partners
  • Mumbai-based document AI startup DocSumo has raised seed funding of $220 K from Better Capital, TechStars, and Barclays
  • Mumbai-based Incred Asset Management has acquired Vishuddha Capital. The amount will be used to take this business to new heights
  • Noida-based education technology startup ConveGenius Edu Solution has acquired Gray Matters India for an undisclosed amount

Ecosystem Weekly | 9th Aug ’20

August 9, 2020
DST Global to pump money in Byju’s

DST Global, the investment firm headed by Russian-Israeli billionaire Yuri Milner, may invest up to $400 million (Rs 3,005 crore) in Indian ed-tech unicorn Byju’s at a valuation of about $10.5 billion
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Byju’s has acquired edtech startup WhiteHat Jr. for $300 million
Byju’s has acquired edtech startup WhiteHat Jr. for $300 million as the Indian online learning giant looks to expand its dominant reach in the country
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Startup News Snippets

M&A News

Market Pulse

  • Bengaluru-based Wow Skin Science will raise $55 Mn from PE Everstone Group
  • San Francisco-based Edtech startup Springboard has raised $31 Mn in Series B funding led by Telstra Venture
  • Kolkata-based tech startup Data Sutram has raised $266 K from Indian Angel Network angels Uday Sodhi, Mitesh Shah, and Nitin Jain
  • Delhi-based health and wellness brand Fitspire has raised $200 K in a pre-seed round led by Nikhil Parmar, Priyanka Madnani and Sukhbir Singh
  • Bengaluru-based Myntra has acquired Deepika Padukone’s stake from the All About You brand
  • US based-Microsoft will acquire TikTok in North America, Australia, and New Zealand

 

 

Ecosystem Weekly | 2nd Aug ’20

August 2, 2020
Brookfield eyes stake in RMZ’s office projects to add heft in proposed REIT

Canada’s Brookfield Asset Management is in talks to strike a deal for the office projects of Bengaluru-based developer RMZ Corp.
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SaaS Unicorn Freshworks Bags $85 Mn From Steadview Capital

Indian SaaS unicorn Freshworks has raised $85 Mn in Series H from alternative asset manager Steadview Capital Management through a secondary transaction.
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Startup News Snippets

M&A News

Market Pulse

  • Gurugram-based enterprise tech startup Delighttree has raised $3Mn in a seed round from  Accel Partners, Emergent Ventures, Brainstorm Ventures, Axilor Ventures, and Alchemist Accelerator
  • IIT-Madras-incubated startup “Muse Wearables” has raised Rs 22 crore to launch its wrist tracker that can detect COVID-19 symptoms at an early stage
  • Ahmedabad-based cloud kitchen startup BigSpoon Foods has raised $2 Mn in Pre-Series A funding from Urmin Family Office, Lemonade Ventures, TrueValue Group MD Yash Shah, investors from Vcats Network and other HNIs for product and brand development
  • Mumbai-based game development studio Firescore Interactive has raised $500 K funding led by CrazyLabs. The funds will be utilized to launch the first-ever Hyper Casual Gaming Hub in India for game studios around the world
  • Bengaluru-based homegrown short video platform Chingari has raised $1 Mn in seed funding from LogX Ventures, AngelList’s Utsav Somani, NowFloats’ Jasminder Singh Gulati, AL Trust (Vistra ITCL), Village Global

Ecosystem Weekly | 26th Jul ’20

July 26, 2020
Petronet renews investment deal with US LNG developer Tellurian

India’s top gas importer, Petronet LNG, has renewed its initial deal to consider investing $2.5 billion in U.S. liquefied natural gas (LNG) developer Tellurian Inc’s Driftwood project, Indian sources familiar with the matter said.
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InCred secures Rs 500 Cr in debt led by public sector banks, financial institutions

Mumbai-based NBFC InCred has raised Rs 500 crore debt funding from various public sector banks and public financial institutions.
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Startup News Snippets

M&A News

Market Pulse

  • Bengaluru-based financial-technology firm Jodo has raised $4 Mn in seed funding from Matrix Partners, SAIF Partners, and other HNIs
  • Tamil Nadu-based Agritech startup Vegrow has raised $2.5 Mn in seed funding from Matrix Partners India, Ankur Capital, Better Capitals, Titan Capital, Sanjiv Rangrass and Rohit MA
  • Kochi-based Local language learning startup Entri has raised $2 Mn from a set of investors led by Good Capital. The company will use the newly-raised fund to capitalize on the opportunity ahead and ramp up marketing, and to produce more content in the coming months
  • Bengaluru-based iNurture Education Solutions has raised $1 Mn in debt funding from existing investor BlackSoil Capital. The company will use the funds to boost its digital higher education platform and meet its working capital needs
  • Gurugram-based fashion tech startup StyleDotMe has raised $47 k in Pre-Series A funding from Survam Partners, Bobby Kothari, Director, Jewelex India, and existing investor IAN

Ecosystem Weekly | 19th Jul ’20

July 19, 2020
Google Invests $4.5 Bn In Reliance Jio For 7.73%

Reliance Industries’ digital venture Jio Platforms has raised INR 33,737 Cr ($4.5 Bn) from global tech giant Google for 7.73% equity stake, Mukesh Ambani announced at Reliance’s 43rd Annual General Meeting (AGM). Google is investing at an equity valuation of INR 4.36 Lakh Cr.
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Flipkart raises $1.2B from Walmart at $24.9B valuation amidst COVID-19 pandemic
India’s leading e-commerce marketplace Flipkart on Tuesday announced a fund infusion of $1.2 billion, at a valuation of $24.9 billion, led by its parent company Walmart.
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Startup News Snippets

M&A News

Market Pulse

  • Singapore and Bengaluru-based air retailing and payments platform Mystifly has raised $3 Mn in pre-Series B funding from Recruit Co.
  • Bengaluru-based budget hotel chain Treebo has raised $3 Mn in Series D funding from Bertelsmann SE & Co, Matrix Partners India, and SAIF Partners India.
  • Mumbai-based early-stage payments startup goDutch has raised $2 Mn in seed round funding from Matrix India, Y Combinator, Global Founders Capital, Soma Capital, and VentureSouq
  • Mumbai-based cloud kitchen startup Yumlane has raised $1 Mn in pre-Series A funding led by Jetty Ventures
  • Delhi-based home-grown healthcare venture capital fund HealthQuad has raised $69 Mn in an initial funding round for its second fund, aimed at supporting disruptive, technology-based and innovation-driven businesses that transform healthcare in India

Ecosystem Weekly | 12th Jul '20

July 12, 2020
ADIA renews interest in Jio Digital Fibre

Abu Dhabi Investment Authority (ADIA) has revived talks to invest close to $1 billion (about Rs 7,500 crore) in Reliance Industries’ infrastructure investment trust (InvIT) Jio Digital Fibre for up to 25% stake, people aware of the matter told The Economic Times.
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BP pays Reliance $1 bn to set up petrol station venture
BP has paid Reliance Industries $1 billion to set up a joint network of thousands of petrol stations across India to tap the country’s rapidly growing energy demand.
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Startup News Snippets

M&A News

Market Pulse

  • PolicyBazaar’s parent company EtechAces Marketing and Consulting has raised $130 Mn from SoftBank Vision Fund. The investment is a mix of primary infusion of capital into the company at about $50 Mn and purchase of shares worth another $80 Mn
  • Jaipur-based last mile rural distribution startup Frontier Markets has raised $2 Mn in a Pre-Series A funding from ENGIE Rassembleurs d’Energies, The Rise Fund, The Singh Family Trusts, Teja Ventures, and Beyond Capital Fund
  •  Bengaluru-based PiggyRide has raised $2Mn in a pre-Series A funding from JAFCO Asia and Artha Venture Fund
  • Gurugram-based geospatial data intelligence startup Blue Sky Analytics has raised $1.2 Mn seed funding from BEENEXT Emerging Asia, Rainmatter Capital and Stanford Angels & Entrepreneurs
  • Chennai and US-based cybersecurity startup Securden has raised $1 Mn in a seed funding from Accel, Girish Mathrubootham, Freshworks, Axilor Ventures, Manav Garg, Eka1.com, and CaratLane

Ecosystem Weekly | 5th Jul '20

July 5, 2020
Haldia Petrochemicals, Rhone Capital jointly acquire US-based Lummus for $2.7 bn

Haldia Petrochemicals Ltd, majority-owned by The Chatterjee Group (TCG), together with global private equity firm Rhone Capital, has acquired Texas-based Lummus Technology for an enterprise value of $2.725 billion.
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Bharti-British govt consortium wins bid for satellite company OneWeb
A consortium of billionaire Sunil Mittal’s Bharti Global Ltd and the British government has won an auction to acquire satellite operator OneWeb that collapsed after its biggest investor SoftBank Group Corp pulled funding.
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Startup News Snippets

M&A News

Market Pulse

  • B Capital Group has closed its second global fund after raising $820 Mn to invest in growth-stage ventures
  • Bengaluru-based B2B marketplace Zetwerk has raised $21 Mn in Series C funding from Greenoaks, Accel, Kae Capital, Lightspeed and Sequoia Capital India
  • Chennai-based ed-tech startup Flinto Learning Solutions has raised $7 Mn in Pre-Series B funding from Lightbox Ventures
  • Gurugram-based electric taxi-hailing and riding platform Blu Smart Mobility has raised $5 Mn in a pre-Series A funding from Mumbai Angels Network, Inflection Point Ventures, and LetsVenture
  • Gurugram-based beverage and snack brand Paper Boat has raised $4 Mn from Sofia Ventures, A91 Emergency Fund I, SCI Growth Investment II and Catamaran Ventures
  • Gurgaon-based mobile advertising company Affle will acquire 8% stake in smartphone operating system firm Indus OS for $3 Mn
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