Tag: M&A

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

Ecosystem Weekly | 12th Apr '20

April 12, 2020

Reliance Industries invests $66 Mn in edtech startup Embibe
Bengaluru-based edtech startup Embibe reported that it received a funding of nearly $66 Mn from its existing investor and shareholder Reliance Industries.
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Alibaba invests $50 million in BigBasket’s bridge round
Last year, BigBasket had raised $150 million led by Mirae Asset-Naver Asia Growth Fund, UK government-owned CDC Group, and existing backers like Alibaba.
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Startup News Snippets

M&A News

Market Pulse

  • Bengaluru-based online edtech startup Vedantu has raised $13 Mn as a part of its Series C1 round from Chinese venture firm Legend Capital and Omidyar’s Ohana Holding
  • Japan-based M3 has acquired the healthcare market research business of Bengaluru-based Manthan Software Systems for an undisclosed amount
  • Gurugram and Patna-based agritech platform DeHaat has raised $12 Mn in Series A funding round from Sequoia Capital, FMO, Omnivore & AgFunder
  • Skill-based gaming startup Zupee has raised $8 Mn in its Series A round from Matrix Partners India, Falcon Edge Capital, WestCap Group, Orios Venture Partners and Smile Group
  • Mumbai-based edtech startup Lido Learning, that focuses on live online tutorials, has raised $8 Mn in Series B round from Ant Financial-backed BAce Capital and existing investors
  • Hyderabad-based technology-enabled supply chain platform Akna Medical  has raised $7 Mn from LGT Lightstone Aspada

Ecosystem Weekly | 5th Apr '20

April 5, 2020

MedGenome Raises $55 Mn In Fresh Funding To Expand In Tier 2-3 Markets
Bengaluru-based health-tech startup MedGenome has raised $55 Mn in a fresh funding round. The investment has been reportedly led by LeapFrog Investments.
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Unicorn India Ventures has announced the first close of its $52 Mn Fund II with a corpus of $12 Mn
The fund will be used to invest in early-stage startups, in Pre-Series A and Series A rounds, across several sectors.
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Startup News Snippets

M&A News

Market Pulse

  • Bengaluru-based fintech startup Recko has raised $6 Mn from Vertex Ventures and Prime Venture Partners.
  • Aster DM Healthcare has sold its Kuwait subsidiaries, Aster Kuwait Pharmaceuticals & medical equipment firm WLL to Pharmazone and Palestine Pharmacy Company for an undisclosed amount
  • Bengaluru-based agritech supply chain startup Ergos has raised $5 Mn in a Series A funding round from Aavishkaar Group’s equity investment arm Aavishkaar Capital
  • Gurugram-based edtech startup focused on building a global online school for K-12 Camp K12 has raised $4 Mn in a seed funding round from Matrix Partners India and SAIF Partner
  • Mumbai-based Tapits Technologies which owns and operates fintech startup Fingpay has raised $4 Mn in a Series A funding round from IvyCap Ventures
  • Mumbai-based edtech startup Lido Learning has raised $3 Mn in Series B funding from Rocket Internet founder Alex Samwer-backed Picus Capital and Paytm president Madhur Deora

Ecosystem Weekly | 29th Mar '20

March 29, 2020

NTPC to buy out govt from two hydel firms for $1.54 Bn
India’s largest power producer, govt-owned NTPC Ltd, has said it will acquire entire central govt stakes in two hydropower companies THDC India Ltd & NEEPCO for $1.54 Bn
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Kubota Corp buys 10% stake in Escorts for $139 Mn
Kubota Corporation (Kubota), a leading global tractor and machinery manufacturer from Japan, will acquire 10% equity stake, on a post capital reduction basis, in Escorts Ltd. (Escorts), a leading engineering conglomerate in India
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Startup News Snippets

M&A News

Market Pulse

  • Mumbai-based Checkers India Technology which operates B2B platform Excess2Sell has raised $1 Mn in funding from Gautham Madhavan, an angel investor & a director at Florintree Advisors
  • Pune-based IT firm Nihilent has acquired cross-disciplinary advertising platform Hypercollective, operated by Hyper Collective Creative Technologies for an undisclosed amount
  • Hyderabad-based education services startup Univariety which is operated by International Educational Gateway will raise $1 Mn from Info Edge the parent of jobs portal Naukri.com
  • The India team of the US-based PE firm TA Associates will acquire a stake in Accion Labs a software engineering product company focused on emerging technologies for an undisclosed amount
  • Bengaluru-based SME-focused fin-tech Rupifi has raised an undisclosed amount as part of its pre-seed funding from Ashneer Grover, Kunal Shah, and other angel investors
  • Bengaluru-based online grocery platform BigBasket, operated by Supermarket Grocery Supplies has fully acquired Bengaluru-based micro-delivery startup DailyNinja for an undisclosed amount
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