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Ecosystem Weekly | 8th Dec ’19

December 8, 2019

Walmart owned Flipkart has raised $398 Mn from its parent entity.
Bengaluru based e-commerce company Flipkart has raised $398 Mn from its Singapore-based parent entity, Walmart.
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Mahindra Finance has raised $200 Mn from  International Finance Corp
Mahindra & Mahindra Financial Services has raised $200 Mn from IFC, a subsidiary of World Bank Group, for financing MSMEs in India.

Startup News Snippets

M&A News

Market Pulse

  • Mumbai-based used bikes marketplace Credr has raised $6 Mn from Omidyar Network, with existing investors Eight Roads Ventures, GrowthStory and AngelList
  • Advent International backed Plastic packaging material maker Manjushree Technopack has acquired a majority stake in Amritsar-based National Plastics for an undisclosed amount
  • After a delay of over six months, South Korean automobile maker Hyundai and Kia Motor’s $311 Mn investment in ANI Technology and electric taxi service Ola Electric is finally complete
  • Venture capital firm Accel India announced the final close of its $550 Mn fund which focuses on seed and early stage Indian startups
  • Netflix’s founder and CEO Reed Hastings announced that the over-the-top video streaming platform will invest $420 Mn producing original content in India
  • Foodtech unicorn Zomato’s CEO Deepinder Goyal announced that the company will raise $500 Mn by next month

VP Weekly | 1st Dec ’19

December 1, 2019

Paytm has raised $1 Bn led by US asset manager T Rowe Price
Digital payments major Paytm has raised $1 Bn from new and existing investors, including Japan’s SoftBank Group and China’s Ant Financial.
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Zomato may raise $550 Mn from Ant Financial
Gurugram-based food tech unicorn Zomato may raise $550 Mn funding led by Chinese Alibaba Group affiliated Ant Financial.

                                     Startup News Snippets

M&A News

Market Pulse

  • Japan-based research firm Leave A Nest, along with Indian venture capitalist firm Arc Ventures, has planned to set up startup hub in India and will invest initially $7 Mn
  • OYO parent company, Oravel Stays, has approved a $1.5 Bn primary capital infusion into the company by SoftBank Vision Fund and Ritesh Agarwal’s RA Hospitality
  • Multinational consumer goods corporation Procter & Gamble (P&G) India has launched a $28 Mn Environmental Sustainability Fund
  • The New York-based private equity firm Warburg Pincus will raise $1.5 Bn for its first India-focused fund. It expects to close the fund by the first half of 2020
  • Bengaluru-based bike taxi services provider Rapido will raise $75 Mn funding from Chinese smartphone maker Xiaomi, along with several other existing investors such as China’s Shunwei Capital
  • OYO Hotels and Homes has raised $7 Mn for MyPreferred Transformation, OYO’s joint venture with its largest investor SoftBank from Avendus Finance

VP Weekly | 24th Nov ’19

November 24, 2019

Indian Government will sell minor stakes in Bharat Petroleum for $16 Bn
The Indian Government will sell its minor stake in Bharat Petroleum to Container Corporation of India and Shipping Corporation of India for $16 Bn
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Essel Group sells 16.5% stake in Zee Entertainment to financial investors for $678 Mn
Oppenheimer fund others will acquire a 16.5 % stake in Zee Entertainment Enterprises from Essel Group for $678 Mn

                                        Startup News Snippets

                                                        M&A News

Market Pulse

  • Mumbai-based financial services group Centrum has acquired the business operations of New Delhi-headquartered microlender Altura Financial Services for an undisclosed amount
  • Tulip Diagnostics, an in-vitro diagnostic firm, has acquired Mumbai-based Biosense Technologies, a medical devices maker, for an undisclosed amount
  • S4 Capital, the digital advertising and marketing services company has acquired Delhi-based content creation and production house WhiteBalance for an undisclosed amount
  • Delhi-based fintech startup, Quikkloan has raised an undisclosed amount in seed funding from angel investors including Arun Diaz,  Aasif Ahsan Khan and Sanjay Budhwar
  • Telangana-based early-stage life sciences startup Telluris Biotech India has raised $4 Mn funding from Innovation in Food and Agriculture Fund
  • Gurugram-headquartered customer engagement platform EasyRewardz has raised an undisclosed amount of Series B funding from Walmart-owned ecommerce player Flipkart

VP Weekly | 17th Nov ’19

November 17, 2019

Global steel giant ArcelorMittal will acquire Essar Steel for $5.85 Bn
The world’s largest steel manufacturing company ArcelorMittal will acquire Essar Steel, which has 10 MT steel manufacturing plants in India, for $5.85 Bn
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Norwest Venture Partners has closed its 15th fund at $2 Bn
The Palo Alto headquartered venture capital firm, Norwest Venture Partners has closed its 15th fund at $2 Bn

       Startup News Snippets

 M&A News

Market Pulse

  • Hyderabad-based pharmacy retail chain MedPlus will raise $97 Mn from IPO
  • OLX Group invested $400 Mn in German-based online car marketplace, Frontier Car Group (FCG), thereby becoming the largest shareholder in the company
  • VC firm 100X.VC launched its Corporate Venture Capital program, where it will be onboarding Indian corporates as their investment partners and can allot $1.4 Mn – $14 Mn for startup investments
  • TiE Global announced the launch of $70 K TiE Women fund to promote women entrepreneurs across its 61 chapters globally
  • Windrose Capital announced the first close of its $30 Mn ‘The Next Billion Fund’, which will exclusively focus on early-stage startups starting with up to 50 seed-stage startups
  • Paytm announced $70 Mn to invest in early-stage tech startups enabling AI-based technology and Big Data solutions to solve complex problems unique to India

VP Weekly | 10th Nov ’19

November 10, 2019

Freshworks raises $150 Mn from Google, Sequoia, and Accel
Software as a service company Freshworks has raised $150 Mn from technology giant Google and the existing investors, venture capital firms Sequoia and Accel.
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Tech Mahindra will acquire New York-based Born Group for $95 Mn
Software services company Tech Mahindra will acquire New York-headquartered digital agency Born Group for $95 Mn
Startup News Snippets

M&A News

Market Pulse

  • The US-based electrical and electronics component manufacturer Flex has announced that it is planning to expand its business from China to other geographies, including India
  • Amazon Web Services (AWS) has announced to provide the company’s cloud technology to edutech startups Eckovation, Kings Learning and PlayAblo to its AWS startup programme
  • US-based online platform for startups, angel investors, and job-seekers looking to work at startups, AngelList has rolled out an India-focussed venture and angel fund
  • Indian Angel Network has announced the final close its IAN Fund after raising its maiden fund of $52 Mn from Hyundai as its limited partner and SIDBI, IIFL, Yes Bank, Max Group, and others
  • Mumbai-based advertisement technology startup Vserv raised an undisclosed amount from global data analytics and consumer credit reporting company firm Experian
  • Yamuna Nagar-based logistics tech startup, TruckSuvidha, has raised an undisclosed amount in seed funding from Maharatna Gas Authority of India Limited (GAIL)
  • Vadodara-based dips and sauces manufacturer, All That Dips, has raised an undisclosed amount of funding from GVFL venture fund

VP Weekly | 3rd Nov ’19

November 3, 2019

Abu Dhabi’s Masdar will acquire a minority stake in Hero Group’s clean energy arm
Masdar Clean Energy, wholly owned by the Abu Dhabi government’s Mubadala Investment Company, will acquire a minority stake of 20% in the Munjal family-led Hero Group’s clean energy arm for $150 Mn.
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MX Player has raised $110 mn from Tencent and Times Internet
Times Internet-owned OTT platform MX Player has raised $110 Mn funding from Chinese multinational conglomerate holding company, Tencent and its parent entity.
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Startup News Snippets

M&A News

Editor’s Weekly Pick

By now you’d have heard about Google’s announcement to acquire Fitbit for $2.1Bn. After smartphones, wearables seem to be the next battleground, where Apple Watch has been a clear leader, while Google has struggled with its products & platforms. Wired and Vox have some interesting analysis on what this acquisition means for business, data and privacy in the future.
-Abhishek

 

 Market Pulse

  • Bengaluru-based cab hailing unicorn Ola will raise $200 Mn fresh fund from technology giant Microsoft. The deal can be finalized next 20 days
  • Facebook for its VC Brand Incubator Programme tied up with SAIF partners and aims to enable the growth of small and medium businesses (SMBs) and entrepreneurship in the country
  • OYO’s top executives, including founder Ritesh Agarwal, have decided to pool their individual angel investments into a limited liability partnership firm Raaga Partners
  • SoftBank will fund 100 companies through its Vision Fund 2. Softbank Vision Fund (SVF) has already funded 86 companies through the the first fund, which was launched in 2017
  • US-based Firework will invest  $20 Mn in its indian operations. The company is trying hard to make its way in the Indian market and increase its user base
  • Switzerland-based IT security solutions EST Group has said it is bullish on Indian startups and is looking to invest $250 Mn into Indian startups, particularly in the fintech sector
  • Delhi-based traveller hostels chain, goStops, has raised an undisclosed amount of funding from angel investor like Nitish Mittersain, Sorabh Agarwal, etc

 

VP Weekly | 27th Oct ’19

October 27, 2019

CDPQ to pump in $270 mn more in Piramal Enterprises
Caisse de depot et placement du Quebec (CDPQ), one of Canada’s biggest public pension funds, will increase its stakes in Piramal enterprises by investing $270 Mn.
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US-Based SHL All Set To Acquire HRtech Startup Aspiring Minds For $80 Mn
US-based talent evaluation company SHL has acquired Aspiring Minds, a Gurugram and San Jose-based AI-powered test and assessment venture for $80 Mn
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Startup News Snippets

M&A News

Market Pulse

  • Bengaluru-based shared last-mile connectivity provider Loca has raised an undisclosed amount of funding from  Stellaris Venture Partners, China-based Fosun RZ Capital  and others
  • Ratan Tata-backed lingerie retailer Zivame has raised $1.26 Mn from Trifecta Capital. Zivame alloted 80 series b debentures at a value of INR 10 Lakh each debenture
  • Fashion rental and styling platform Stage3 has raised $2 Mn Pre-Series A funding from Blume Ventures. The fresh capital will be used by the fashion startup to amplify the brand experience
  • Serial investor Sanjay Mehta-led 100X.VC will reveal the first batch of portfolio companies at the VC Pitch Day to be held on December 7, 2019 in Mumbai
  • Venture fund, Wipro Consumer Care-Ventures has raised $28Mn from Wipro Enterprises’ FMCG brand, Wipro Consumer Care and Lighting
  • Indian Fintech Forum announced the names of 18 startups shortlisted for the fourth edition of India Fintech Awards (IFTA), which will be held on November 29, 2019 in Mumbai
  • Telangana’s state-backed startup incubator T-hub in collaboration with FalconX Inc rolled out its startup booster programme, Trestle

VP Weekly | 20th Oct ’19

October 20, 2019

Paytm may raise funds from SoftBank, Ant Financial at $16 Bn valuation
Noida-headquartered digital payments company Paytm in the increasingly competitive digital payments space, is looking to raise a fresh funding round of $2 from T Rowe, Alibaba and other existing investors.
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France’s Total to buy 37.4% stake in Adani Gas for $868 Mn
France’s Total, World’s second-largest liquefied natural gas (LNG) player will buy 37.4% stake in Gautam Adani-led Adani Gas for $868.5 Mn.
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 Startup News Snippets

                                                          M&A News

Market Pulse

  • Gurugram-based lending startup RupeeRedee has raised $6 Mn from its parent company Digital Finance International (DFI), a multinational private equity group
  • Noida-headquartered social commerce platform Mall91 has raised $7.5 Mn Series A funding from Go-Ventures with participation from Beenext, Kalaari Capital, and AngelList India
  • Bharat Inclusion Initiative announced the third cohort of its “Financial Inclusion Lab”. It invites entries from Indian startups that work in the areas of FinTech, skilling, and livelihoods
  • Chennai-based cleantech startup WEGoT has raised $2 Mn seed funding from GoFrugal, Shyam Shekar from iThought, and Brigade Enterprises
  • The ten startups are won in the IMC Grand Innovation Challenge which also includes  SenseGiz, SnapIoT, Nebula, BKC Aggregators, Learning Matters,  Marisoft Technology, and PlayAblo
  • Delhi-based toxin-free personal care products startup, Super Smelly raised an undisclosed amount from Singapore-based Lyte Investment Bank and other angels

VP Weekly | 13th Oct ’19

October 13, 2019

Pine Labs Plans To Enter Unicorn Club at a valuation of $1.5 Bn
Retail payment and hardware company Pine Labs is planning to raise an undisclosed amount at a valuation of $1.5 Bn from  Chinese multinational conglomerate Tencent and global internet giant Naspers, along with its fintech company PayU.
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Oyo founder Ritesh Agarwal investing $700 Mn in $1.5 Bn fresh funding
Gurugram-based hospitality decacorn OYO Hotels and Homes will raise $1.5 Bn Series F funding from its founder Ritesh Agarwal and other existing investors.
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                                               Startup News Snippets

                                                             M&A News

Market Pulse

  • Fintech startup BASIX Sub-K iTransactions has raised $10.5 Mn Series C funding from Maj Invest. The Startup will use the funds for business expansion and strengthening its technology stack
  • A regional social commerce company, DealShare has raised $8 Mn Series A funding from Matrix Partners India, Falcon Edge Capital, partners of DST Global, and Omidyar Network India
  • Agricx, Ambee, Artivatic, CureSkin, IntelloLabs, Jiny, Nayan, Nira, PerSapien and SustLabs are Indian startups that qualified for the third edition of Google Launchpad Accelerator
  • Bengaluru-based early-stage venture capital firm Inventus Capital Partners closes its third fund at $52 Mn. The third fund will make about 15 investments in total
  • Daily car cleaning and repair service CleanseCar has raised $2 Mn Pre Series A funding from 10 investors, including Haldiram’s Family Office, Rahul Bothra, CFO, Swiggy and others
  • Clothing brand Kosha has raised undisclosed amount of seed funding from Tres Monos Capital and Narendra Hiranandani, Founder of Enhira Software

VP Weekly | 6th Oct ’19

October 6, 2019

Ant Financial may lead $600 million funding in Zomato
Gurugram-headquartered foodtech unicorn Zomato may raise $600 Mn funding from Alibaba Group affiliated Ant Financial Services.
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India’s Udaan raises $585M to expand its B2B e-commerce platform
B2B eCommerce platform Udaan has raised $585 Mn funding led by Tencent, Altimeter, Footpath Ventures, Hillhouse, GGV Capital, and Citi Ventures
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                                           Startup News Snippets

                                                       M&A News

Market Pulse

  • Cloud-based technology platform for the dental industry, CareStack has raised $28 Mn Series B funding from Steadview Capital and California-based dental plan system Delta Dental
  • Wipro Enterprises’ venture fund Wipro Consumer Care Ventures has raised $28 Mn from its own FMCG brand, Wipro Consumer Care and Lighting
  • ClearQuote (Xenon Automotive), PiChain Innovations and Imaginate Technologies are shortlisted for Rolls-Royce’s Data Labs’ first ‘Start-up Accelerator Programme’
  • Mumbai-based Varanium closed its $28 Mn venture capital fund ‘Varanium NexGen’, which will exclusively focus on early-stage fintech startups
  • Pune-based online lending startup LoanTap has raised $12 Mn Series B funding from Avana Capital, with existing investors 3one4 Capital, India Quotient, Shunwei Capital and Kae Capital
  • Bengaluru-based expense management startup Fyle has raised $4.5 Mn from US-based hedge fund Steadview Capital

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