Category: Startup Newsletter

Ecosystem Weekly | 9th Feb '20

February 9, 2020

France’s Total to invest $510 mn in JV with Adani Green Energy
French energy giant Total SA will invest $510 Mn in an equal joint venture with Adani Green Energy that will hold solar energy assets.
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Baring PE India hits benchmark returns in partial exit from Manappuram Finance
Baring Private Equity Partners India has sold more than half of its stake in Thrissur-based gold loan financier Manappuram Finance for $101 Mn.
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Startup News Snippets

M&A News

Market Pulse

  • A vernacular podcasting platform Kuku FM has raised $6 Mn Series A funding from Singapore-based venture capital investment holding company Vertex Venture
  • Property search aggregator Square Yards Consulting has acquired Mumbai-based rental and property management platform Azuro for an undisclosed amount
  • Bengaluru-based edtech company Byju’s has raised an undisclosed amount of funding from General Atlantic. This round led Byju’s at the value of $8 Bn
  • Gurugram-headquartered artificial intelligence (AI)-driven logistics platform, fleetx has raised $3 Mn fresh funding from VCs and angel investors
  • Homegrown bicycle brand Frog’s Ahmedabad-based parent company AlphaVector has raised an undisclosed amount from Avaana Capital and Titan Capital
  • Edtech Startup which is a Local language learning app for India, Entri has raised $1 Mn seed funding from San Francisco-based Good Capital

Ecosystem Weekly | 2nd Feb '20

February 2, 2020

Tiger Global May Launch $3.8 Bn Fund To Continue Investment Spree
Global investor Tiger Global Management has reportedly closed a $3.8 Bn global private investment vehicle called the Private Investment Partners (PIP) XII, which will continue to back tech startups in India, the US and China
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Airtel Payments Bank Raises INR 225 Cr For Deeper Presence In India
Bharti Airtel’s financial service arm Airtel Payments Bank has raised INR 225 Cr from its parent companies Bharti Airtel and Bharti Enterprises to solidify its presence in India and expand to Africa
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Startup News Snippets

M&A News

Market Pulse

  • Bengaluru-based edtech startup InterviewBit has raised $20 Mn in Series A round from Sequoia India, Tiger Global and Global Founders Capital
  • Gurugram-based edtech startup Doubtnut has raised $15 Mn from Tencent, Omidyar Network India, Sequoia Capital India, Japan-based Akatsuki Entertainment Fund and Ankit Nagori
  • Denmark-based manufacturer of moulded fibre egg packaging Brødrene Hartmann has acquired Punjab-based moulded fibre packaging provider Mohan Fibre Products for $18 Mn
  • Insurance-tech company Majesco will acquire United States-based software solutions provider in the life and annuity insurance market InsPro Technologies for $12 Mn amount
  • US-based investment firm Ribbit Capital is looking to raise $420 Mn for its sixth VC fund to continue its investment spree in startups, especially those working in the fintech segment
  • Gurugram-based healthtech startup 1MG has received an infusion of $10 Mn from Bill & Melinda Gates Foundation according to the Ministry of Corporate Affairs filings
  • Google will provide $1 Mn grant through Google.org to news literacy org Internews which will launch an initiative to help improve news literacy & fight back against fake news in India

Ecosystem Weekly | 26th Jan '20

January 26, 2020

Baring PE Asia closes seventh buyout fund at $6.5 Bn
Hong Kong-based alternative investment firm Baring Private Equity Asia has hit the final close of its seventh fund at its hard cap of $6.5 Bn
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ReNew Power Secures $450 Mn Funds Through Dollar Bonds
Continuing its streak of big investments, clean energy startup ReNew Power has raised $450 Mn funding through a dollar bond issuance. ReNew is planning to use this funding to refinance its previous borrowing, which will be maturing next year
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Startup News Snippets

M&A News

Market Pulse

  • Bengaluru-based online home design company Livspace has raised $60 Mn from Tahoe Investment Group, Mercer Investments, EDB Investment, Kharis Capital, and Nicholas Cator
  • Bengaluru-based self-drive car rental startup Zoomcar India has raised $30 Mn in its ongoing Series D funding from Sony Innovation Fund
  • US-based data analytics firm Qlik Technologies has acquired emerging technologies-enabled business consulting firm RoxAI for an undisclosed amount
  • An infrastructure fund managed by Edelweiss Group, Edelweiss Infrastructure Yield Plus will acquire a 74% stake in French gas and power utility Engie’s solar assets in India
  • Gurugram-based wealth management platform for HNIs, INDWealth, has raised $12 Mn as part of its Series C funding from Steadview Capital, Tiger Global, and DF International
  • Delhi NCR-based Smart Parking Startup Park+ has raised $11 Mn in funding from Sequoia Capital, Matrix Partners, Deep Kalra, Rajesh Magow, Kunal Shah and HNIs
  • Chicago-based SaaS platform to help consumer packaged goods companies increase revenue, Samya.ai has raised $6 Mn in seed funding from Sequoia Capital and HNIs

 

Ecosystem Weekly | 19th Jan '20

January 19, 2020

Piramal Enterprises to sell analytics unit Decision Resources Group for $950 mn
Piramal Enterprises Ltd has agreed to sell the healthcare analytics unit Decision Resources Group to US-based Clarivate Analytics Plc for $950 million
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Chinese automaker Great Wall agrees to buy General Motors’ India plant
Chinese automaker Great Wall Motor has agreed to buy General Motors’ car plant in Maharashtra. Great Wall, one of the biggest sellers of SUVs in China, is expected to pay about $250 million to $300 million to acquire the plant.
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Startup News Snippets

M&A News

Market Pulse

  • Bengaluru-based online grocery delivery platform and agritech Ninjacart has raised $10 Mn in Series C funding from Flipkart India and Singapore-based GEC3
  • Chennai-based logistics and supply chain startup Pando has raised $9 Mn in Series A funding from Chiratae Ventures, Nexus Venture Partners,  Siemens’ backed Next47 and other angel investors
  • Jay Shree Tea & Industries, a BK Birla group firm, is selling its Mata Tea and Gisakura Tea in Rwanda (Africa) to Belgium-based Grand Lacs Trading SA for $10 Mn
  • Hero Cycles, the bicycle manufacturing unit of Hero Motors Company, has acquired a stake in German premium e-bike maker HNF Nicolai in an undisclosed amount
  • Amazon’s payments arm, Amazon Pay, received $190 Mn while Amazon India’s B2B arm, Amazon Wholesale, got $50 Mn cash infusions from Amazon corporate holdings and Amazon.com
  • Wipro Ventures, the strategic investment arm of Wipro, closes Fund II of $150 Mn to invest in early to mid-stage companies, building innovative enterprise software solutions
  • Mumbai-based Online cosmetics and beauty products retailer Purplle has raised $8 Mn in Series C funding from Belgium-based investment firm Verlinvest

Ecosystem Weekly | 12th Jan '20

January 12, 2020

Edtech Unicorn Byju’s Gets $200 Mn From Tiger Global
Founded in 2008 by Divya Gokulnath and Byju Raveendran, Byju’s announced that it has raised funding from New York-based Tiger Global. The round reportedly valued Byju’s at $8 Bn.
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ESAF Small Finance Bank files for $135 mn IPO
Thrissur-based small finance bank ESAF on 6th Jan filed its draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering of $135.6 million.
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Startup News Snippets

M&A News

Market Pulse

  • Honasa Consumer’s FMCG brand Mamaearth has raised $18 Mn in Series B funding from Sequoia India, Fireside Ventures, Stellaris Venture Partners and Sharp Ventures
  • Private investment company Lupa Systems buys majority stake in Indian online learning startup Harappa Education in an undisclosed amount
  • Flipkart Co-Founder & former CEO Sachin Bansal has acquired DHFL General Insurance from Wadhawan Group Capital for $14 Mn through his investment firm Navi Technologies
  • Medtech startup Axio Biosolutions has raised $5 Mn in Series B-1 funding from Omidyar Network India, Accel, University of California, Ratan Tata-backed RNT Fund, and Chiratae Ventures
  • Pharmacy retail chain Generico which is operated by Workcell Solutions has raised $1 Mn in venture debt from Alteria Capital as a part of Series A funding
  • Chandigarh-based fintech startup PayMart India has raised an undisclosed amount from IIM Ahmedabad’s incubator, CIIE.CO., and Chandigarh Angels
  • Agrochemical firm Crystal Crop Protection has acquired three insecticide brands from US-based agricultural company Corteva Agriscience in an undisclosed amount

Ecosystem Weekly | 5th Jan '20

January 5, 2020

Adani Ports to acquire Krishnapatnam Port for $1.9 Bn
Billionaire Gautam Adani-led Adani Ports and Special Economic Zone Ltd said it will acquire a 75% stake in the Andhra Pradesh-based Krishnapatnam Port Company Ltd for an enterprise value of $1.9 Bn
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Gurugram-based GoMechanic in expansion mode with funding from Chiratae, Sequoia
Automobile service and maintenance startup GoMechanic has raised $14.7 Mn in Series B led by Chiratae Ventures and Sequoia Capital
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Startup News Snippets

M&A News


 

Market Pulse

  • Ahmedabad-based online tax planning and filing platform Quicko raised $280K in the seed round from Zerodha’s fin-tech fund and incubator Rainmatter
  • Pune-based Agritech ERP platform, FarmERP, raised an undisclosed amount in its Series A round from Singapore-based strategic investor Technogen Advisors
  • Hyderabad-based SuperSurfaces India has raised $500,000 in an angel funding round from US-based investor Vishnu Reddy
  • Micro-finance company Satin Creditcare Network has received external commercial borrowing (ECB) funding of $15 Mn from Development Bank of Austria
  • American seed-stage accelerator Y Combinator (YC) has awarded equity-free grants of $15K to four Indian startups, namely Circles, Vizitor, Sandoras, and Wealth42
  • Reliance Industries will enter into online food and grocery shopping by early next year through Jiomart
  • JSW Energy is taking an equity stake in Jaiprakash Power Ventures as part of an exercise to restructure its loans to the debt-laden company

Ecosystem Weekly | 29th Dec ’19

December 29, 2019

Online education platform Ruangguru has raised $150 Mn from General Atlantic
Indonesia based online education platform Ruangguru has raised $150 Mn in Series C funding from Mumbai and New York-based growth-focused venture capital firm, General Atlantic
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Keppel Land and Rustonjee form JV for $57 Mn
Singapore-based diversified conglomerate Keppel Land has entered into a JV with Mumbai based realty developer Rustomjee Group for $57 Mn
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  Startup News Snippets

 M&A News

Market Pulse

  • Pune-headquartered logistics portfolio company Xpressbees will raise $10 Mn in Series D funding from the Chinese e-commerce giant Alibaba
  • Bengaluru-based hyperlocal services enabler Dunzo has raised $0.7 Mn in Series D funding from Lightbox Ventures, Google, 3L Capital, and STIC
  • Japanese conglomerate SoftBank will close its SoftBank Vision Fund II (SVF II) at $30 Bn in the first quarter of the next year, SVF CEO Rajeev Misra told a leading publication
  • With the aim to maintain its position in India’s gaming industry, Baazi Games plans to invest $5 Mn in gaming startups in the country
  • Ahemdabad-based SaaS startup Keito has raised an undisclosed amount of funding from Pune based artificial intelligence(AI) and productivity-focused startup Suma Soft
  • Chennai-based YNOS Venture Engine has raised an undisclosed amount of funding from Mahesh Ramachandran and a group of undisclosed investors

Ecosystem Weekly | 22nd Dec ’19

December 22, 2019

PSA and FCA have got merged. the deal is for $50 Mn
Peugeot and Citroen owner PSA and Fiat Chrysler Automotive (FCA) has signed a $50 Mn deal for their merger.
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Eyewear startup Lenskart has raised $231 Mn from SoftBank
Delhi-based eyewear startup Lenskart has raised $231 Mn in Series G funding from SoftBank Vision Fund II Lightbulb.
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                                            Startup News Snippets

                                                        M&A News

Market Pulse

  • Gurugram-based healthcare platform Pristyn Care has raised $12 Mn in Series B from Sequoia Capital India, Hummingbird Ventures, Greenoaks Capital and AngelList
  • Bengaluru-based B2B foodtech startup HungerBox has raised $12 Mn from Paytm, NPTK, Sabre Partners Trust and Neoplux. The company has raised a total funding of $16.5 Mn till date
  • Delhi-based fintech startup LivFin has raised $5 Mn from German development finance institution DEG, which a subsidiary of KfW Group
  • Gurugram-based Toffee Insurance  has raised $5.5 Mn in a Series A funding from VM Intersurer, Omidyar Network, Flourish Ventures, Accion Venture Lab and Kalaari Capital
  • Chennai-based fintech startup Kaleidofin  has raised $5.1 Mn in Series A funding from  Netherlands-based cooperative and social investor, Oikocredit
  • Gurugram-based B2B agritech platform Bijak has raised $2.5 Mn in seed funding from investment firms Omnivore and Omidyar Network India, and Sequoia Capital India

Ecosystem Weekly | 15th Dec ’19

December 16, 2019

Paytm Parent One97 has raised $670 Mn from SoftBank, AliPay, and others
Noida-headquartered One97 Communications, the parent company of Paytm has raised $670 Mn from it’s existing investors T Rowe Price, Alipay, SoftBank, and others.
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Gurugram based Oyo has raised $693 Mn from Ritesh Agarwal
Gurugram headquartered Oyo Rooms has raised $693 Mn from its CEO and Founder, Mr. Ritesh Agarwal.

Startup News Snippets

                                                        M&A News

Editor’s Weekly Pick

Fast.. Faster.. Fastest growth possible, at all costs. Beyond growth hacking to grow exponentially, startups are increasingly using M&A to boost their growth even more. Here’s a great Crunchbase article on this trend worldwide, while an extensive coverage on top startups acquisitions in India by Inc42 in 2019.

–Abhishek

Market Pulse

  • Bengaluru-based 3one4 Capital has announced the final close of its Continuum I and Rising I fund at $56.5 Mn and $6 Mn respectively
  • Pune-based wellness and fitness startup Squats Fitness has  acquired a minority stake in gym aggregator platform Fitato in an ongoing Pre-Series A funding for an undisclosed amount
  • Private equity firm Apis Partners has raised $550 Mn for its second fund in limited partner commitments. The second fund will make equity investments of between $30Mn and $50 Mn
  • Bengaluru-based insurtech startup, Digit Insurance will raise $80 Mn from TVS Capital Funds, A91 Partners and Faering Capital
  • Investment and scaling platform for early-stage startups, Anthill Ventures, in partnership with actor Rana Daggubati has launched Urban-I,  a market access programm
  • Bengaluru-headquartered edtech startup Cuemath has raised $5 Mn in Series B funding from Manta Ray Ventures, Capital G and Sequoia India

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
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