Tag: M&A

Ecosystem Weekly | 21st Jun '20

June 21, 2020
India’s Reliance Jio Platforms to sell $1.5 billion stakes to Saudi Arabia’s Public Investment Fund

Billionaire Mukesh Ambani has found yet another high-profile firm to write a massive check to his telecom venture Reliance Jio Platforms at the height of a global pandemic.
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o9 Solutions startup raises $100 M from KKR, plans to step up hiring in India
Integrated business planning software startup o9 Solutions on Wednesday said it has raised $100 million (around Rs 761 crore) from global investment firm KKR.
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Startup News Snippets

M&A News

Market Pulse

  • Delhi-based online fashion store High Street Essentials which owns FabAlley and Indya has raised $3 Mn in pre-Series C funding from SAIF Partners and India Quotient
  • Mumbai-based Healthcare services HealWell24 has acquired Mumbai-based DocCare AI to ramp up its video consultation business
  • Bengaluru-based logistics startup LetsTransport has raised $1 Mn in debt funding from Stride Ventures
  • Telecommunications firm Bharti Airtel has acquired 10% stake in Mumbai-based ed-tech startup Lattu Media
  • Bengaluru-based dairy IoT firm Stellapps Technologies has raised an undisclosed amount from Stride Ventures to scale up operations
  • Mumbai-based logistic startup Leap has raised $1 Mn in debt and right issue funding from Pune-based Sargam Retails

Ecosystem Weekly | 14th Jun '20

June 14, 2020
Dr Reddy’s tweaks deal with Wockhardt on Covid-19 impact

Dr. Reddy’s Laboratories Ltd said on Wednesday it has bought a plant as well as select divisions of Wockhardt Ltd’s branded generics business in India, Nepal, Sri Lanka, Bhutan and the Maldives.
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US-based startup Postman raises $150 Mn in Series C round at $2 Bn valuation
Postman, the API development platform startup which was founded in Bengaluru and now headquartered in San Francisco, has secured a Series C funding of $150 million at a valuation of $2 billion.
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Startup News Snippets

M&A News

Market Pulse

  • Gurugram-based intercity bus service startup Yolobus has raised $3 Mn in Series A round from Nexus Venture Partners
  • Mumbai-based edtech startup Toppr has raised $2 Mn from its existing investor Kaizen
  • Gurugram-based startup Hapramp has raised $1 Mn in a seed round from Anand Mahindra, Chairman of the Mahindra Group
  • Bengaluru-based Ameliorate Biotech has raised $260K for their product ASSURED from Villgro, Vinners, LetsVenture, SINE IIT Bombay and DERBI
  • Bengaluru-based Arkam Ventures has closed $43 Mn of its maiden startup fund. It will focus on early-to-growth-stage startups across financial services, healthcare, food, agriculture, and mobility space
  • Bengaluru-based startup WarmOven has raised an undisclosed amount from serial entrepreneur Jyoti Bansal

Ecosystem Weekly | 7th Jun '20

June 7, 2020
Amazon in talks to buy $2-bn stake in Bharti Airtel
Amazon.com is in early-stage talks to buy a stake worth at least $2 Bn in Indian mobile operator Bharti Airtel, three sources with knowledge of the matter told Reuters, underscoring the growing attraction of India’s digital economy for U.S. tech giants
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Abu Dhabi’s Mubadala to invest $1.2 Bn in Reliance’s Jio Platforms, Silver Lake commits $600 Mn more
Reliance Industries Abu Dhabi-based Mubadala Investment Company will invest $1.2 Bn in Jio Platforms as the Indian conglomerate roped in the sixth investor for its digital unit
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Startup News Snippets

M&A News

Market Pulse

  • Hyderabad-based immersive travel platform QuaQua has raised $1 Mn from Anthill Ventures and other existing investors
  • Bengaluru-based marketplace for fulfilling intracity last-mile deliveries LetsTransport has raised $1 Mn from Blacksoil Capital
  • Delhi-based SaaS startup Knorish has raised $323K as part of its Pre Series A funding round from 100X.VC, Standard Greases Family group and Uday Sodhi
  • India’s first of its kind debt resolution platform Credgenics, which combines the power of artificial intelligence with data science, has raised a seed round of funding from Titan Capital
  • Bengaluru-based online road transport marketplace Vahak has raised an undisclosed amount in its seed round from Leo Capital and other angel investors
  • Bengaluru-based packaged food brand for children Timios has raised Pre-Series A round from Rangsons Technologies and Paipal Ventures

Ecosystem Weekly | 31st May '20

May 31, 2020
IndoStar Capital Finance raises $162 Mn from Brookfield

With 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

Ecosystem Weekly | 24th May '20

May 25, 2020
Reliance’s Jio Platforms raises $1.5B from private equity giant KKR

The investment follows significant fund infusions in Jio Platforms from Facebook ($5.7 Bn), Silver Lake Partners ($747 Mn), Vista Equity Partners ($1.5 Bn), and General Atlantic ($870 Mn)
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Abu Dhabi’s ADQ announces new $300m VC fund to invest in Indian startups
ADQ has announced a new $300 Mn venture capital fund, Alpha Wave Incubation. The AWI Fund will be investing in early-stage startups across SEA and India, and help them set up base in Abu Dhabi’s Masdar City.
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Startup News Snippets

M&A News

Market Pulse

  • Walmart-owned Flipkart has received a cash infusion of $89 Mn from Singapore-based Flipkart Marketplace and Flipkart
  • Mumbai-based educational technology startup WhiteHat Jr will raise $50 Mn from the sovereign wealth fund of Singapore, Renuka Ramnath-led home-grown private equity firm Multiples Alternate Asset Management and marquee venture capital firm Sequoia Capital
  • Singapore-based startup specializing in next-generation networking and wireless technology Ray Pte has raised $263K from Pune-based Quick Heal Technologies
  • Fanbuff Esports India which operates e-sports community engagement platform Fanclash will raise $460K from IE Venture Fund I
  • Technology-focussed Venture Capital fund Iron Pillar has raised a $45 Mn top-up fund. The fund will provide Iron Pillar additional capital to back specific Fund I portfolio companies
  • International Finance Corporation will invest $20 Mn in Endiya Partners Fund and Mumbai-based extended warranty and after-sales services provider for appliances and consumer electronics Onsitego
  • Bharti Airtel has acquired a 10% stake in Gurugram-based conversational artificial intelligence technologies startup Voicezen India for an undisclosed amount

Ecosystem Weekly | 17th May '20

May 17, 2020
Carlyle to take over SeQuent Scientific in its biggest India control deal

PE firm Carlyle has agreed to acquire up to 74% of animal healthcare company SeQuent Scientific Ltd for $210 Mn in what would be its biggest control-oriented deal in India
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Sequoia India bets more on Indonesian coffee chain Kopi Kenangan
Sequoia Capital India Advisors, the domestic arm of the global venture capital firm, has led a $109 Mn Series B funding in Kopi Kenangan, an Indonesian beverage retailer.
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Startup News Snippets

M&A News

Market Pulse

  • Samast Technologies which operates hyperlocal discovery startup Magicpin has raised $4 Mn in Series C1 funding from Lightspeed Venture Partners, The Bunting Family Private Fund, Moonstone Investments, WaterBridge Ventures and Srivatsan Rajan
  • Bengaluru-based Rento Mojo operated by Edunetwork has raised $3 Mn from Chiratae Ventures, Accel, Bain Capital and French entrepreneur Renaud Laplanche
  • GaragePreneurs Internet which operates fintech firm Slice will raise $3 Mn debt funding from Gunosy Capital Pte., investment and consulting arm of Gunosy Inc., a Japan-based news and technology services company
  • New Jersey-based physician engagement startup Doceree has raised $1 Mn in seed funding from a group of angel investors from India and the US
  • Coimbatore-based Juicy Chemistry which operates an eponymous consumer brand that is focussed on organic-based skincare products has raised $650K in its Series A funding round from Akya Ventures
  • Gurugram-based AI-driven tech startup Spyne has raised an undisclosed amount in its pre-Series A funding round from Angellist, Smile Group, Manish Amin, Anil Goel, Anubhav Sonthalia, Deepak Mittal and other HNIs

Ecosystem Weekly | 10th May '20

May 10, 2020
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

Ecosystem Weekly | 3rd May '20

May 3, 2020
M&A-minded Piramal near $500M deal to sell pharma stake to KKR

India’s Piramal Enterprises may sell a 20% minority stake in the pharma unit—a slice valued at $500 million—to private equity giant KKR & Co.
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Paytm in funding talks with Microsoft to build war chest
The proposed fundraise, which may amount to around $100 million is likely to be an extension of a planned $1 Bn fundraising that the company had initiated last year.
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Startup News Snippets

M&A News

Market Pulse

  • Delhi-based technology platform for rooftop solar energy solutions for industry, SMEs/MSMEs, and homes MYSUN has raised $4 Mn as a part of its Pre-Series A round from General Catalyst & existing investors
  • SaaS platform which allows Facebook community admins to manage their groups Convosight has raised $4 Mn in its pre-Series A round from IvyCap Ventures and Sequoia Capital’s accelerator programme called Surge
  • Fintech startup offering small-ticket loans to blue and grey-collared workers via its mobile app and website NIRA has raised $2 Mn in Pre-Series A round from existing & new angel investors in the UK, Europe, and India
  • Pune-based online fitness startup Fittr has raised $2 Mn in pre-series A round from Sequoia Capital’s accelerator programme called Surge
  • OncoSeek Bio incubated at the University of Hyderabad has been selected for Covid-19 funding by the Biotechnology Industry Research Assistance Council (BIRAC) to develop an in vitro Lung Organoid model
  • Gurugram-based startup incubator Huddle has launched an incubation Program inviting early-stage and growth-stage ventures offering innovative solutions to combat the challenges posed by the Covid-19 pandemic

Ecosystem Weekly | 26th Apr '20

April 26, 2020
Facebook to buy minority stake in Reliance’s Jio Platforms for $5.7 bn

Facebook Inc. will invest $5.7 Bn in the digital business of Reliance Industries Ltd, a deal that will help the social media giant expand its India presence and allow the oil-to-retail conglomerate to cut its huge debt pile.
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Delhi-based NBFC DMI raises $123M from South Korean gaming company Nexon
Delhi-based NBFC DMI Group has raised funding of $123 million from South Korean gaming company Nexon (NXC Corporation). This round of equity is led by DMI Limited, the holding company of the Indian lending arms of DMI.
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Startup News Snippets

M&A News

Market Pulse

  • Bengaluru-based global biopharma startup designing novel broad-spectrum antibiotics Bugworks Research has raised $8 Mn from University of Tokyo Edge Capital, Japan and Global Brain Corporation, Japan, and Acquipharma Holdings, South-Africa
  • Bengaluru-based online tutoring platform Vedantu Innovations has raised $7 Mn as part of its extended Series C round from South Korea’s KB Global
  • IT security solutions startup Indusface has raised $5 Mn from Tata Capital Growth Fund II. The funding will be used by Indusface for global customer acquisition and product innovation
  • Chennai-based API platform YAP has raised $4.5 Mn in its Series A round from BEENEXT, 8i Ventures Fund, The DMI Group via its AIF vehicle The Sparkle Fund, Better Capital, and HNIs
  • Bengaluru-based Poncho Hospitality which operates cloud kitchen platform Box8 has raised $4 Mn as part of its ongoing Series C funding round from Mayfield and IIFL Seed Ventures Fund
  • Motilal Oswal Real Estate, the real estate arm of private equity firm Motilal Oswal Private Equity has closed its India Realty Excellence Fund IV at $151 Mn

Ecosystem Weekly | 19th Apr '20

April 19, 2020

Zee to infuse $68.4 mn in tech arm SugarBox
Mumbai headquartered media major Zee Entertainment Enterprises has announced its plans to invest $68.4 million in its arm Margo Networks, which operates content distribution platform under the brand name SugarBox.
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Sequoia India bets more on Indonesian logistics startup Kargo
Kargo Online System PT, which operates Indonesian freight logistics marketplace Kargo Technologies, has raised $31 million in a Series A funding round.
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Startup News Snippets

M&A News

Market Pulse

  • Bengaluru-based AI chatbot startup Yellow Messenger has raised $20 Mn in Series B funding from Lightspeed Venture Partners and Lightspeed India Partners
  • Chennai-based non-banking financial company Shriram Transport Finance a part of the larger Shriram Group has raised $20 Mn in debt capital from development bank of Austria OeEB
  • US-based multinational software services company Autodesk will acquire a minority stake in the US- and Bengaluru-based Aurigo Software Technologies for an undisclosed amount
  • Mumbai-based on-demand logistics marketplace Porter has raised $18 Mn in Series D funding from Lightstone Global Fund. Porter works with FMCG, SMEs, traders, 3PLs, courier, & cargo firms
  • Bengaluru-based fintech lending startup Capital Float has raised $15 Mn from Ribbit Capital, Amazon, SAIF Partners, and Sequoia Capital India to expand its lending operations
  • Bengaluru based fintech startup Setu raised $15 Mn in Series A funding from Falcon Edge, Lightspeed Venture Partners US, Lightspeed India Partners, and Bharat Inclusion Seed Fund
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