Tag: M&A

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

Ecosystem Weekly | 28th Jun '20

June 28, 2020
BigBasket Looks To Raise $350 Mn At $2 Bn Valuation To Fight Jio-Facebook

Online grocery delivery platform BigBasket is looking to raise $250 Mn to $300 Mn from both new and existing investors at a valuation of $1.5 Bn-$2 Bn, the company’s co-founder Hari Menon confirmed. The company reportedly wants to keep its inventory ready with capital and wider investor base to fight the Reliance Industries-Facebook combine.
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Zuari Ago sells fertilizer plant to Paradeep Phosphates
Zuari Agro Chemicals Ltd, which is part of the Saroj Poddar-led Adventz Group, has announced the sale of its fertilizer plant in Goa to Paradeep Phosphates Ltd (PPL), which is a joint venture between the company and Morocco’s OCP Group.
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Startup News Snippets

M&A News

Market Pulse

  • Delhi-based grocery delivery startup Milkbasket has raised $5.5 Mn from Inflection Point Ventures and existing investors
  • Mumbai-based infrastructure technology company Infra. Market has raised $5 Mn in an equity and debt mix round of funding from Trifecta Capital
  • Mumbai-based nutrition startup OZiva has raised $5 Mn in a Series A funding from Matrix Partners India
  • Bengaluru-based last-mile micro-mobility platform Yulu has raised $4 Mn from US-based VC firm Rocketship and existing investors
  • Singapore-based Horizon Quantum Computing has raised $3 Mn from Sequoia Capital India.
  • Bengaluru-based Treebo has raised $3 Mn in a growth funding round from Bertelsmann’s India investment unit, Matrix Partners India, and SAIF Partners.

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
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