Category: Startup Newsletter

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

VP Weekly | 29th Sept ’19

September 29, 2019

Switzerland-based IT security solutions EST Group plans to invest $250 mn into Indian startups in the next 18 months
Swiss-based EST Group on Friday said it is planning to invest $250 Mn in the next 18 months into Indian startups that are focused on fintech applications and related business models.
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Sachin Bansal buys Chaitanya Rural in biggest bet since leaving Flipkart
Sachin Bansal will invest $104 Mn in the non-banking financial company, Chaitanya Rural. He will also take charge as its CEO.
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              Startup News Snippets

                                                            M&A News

Editor’s Weekly Pick

We’ve seen this throughout history, the automation and mechanization boosts the overall standard of living. We’ve seen it with the Industrial Revolution, and it’s going to happen again. Robot pets have the potential to be useful in many ways. Here is a new robot pet named Spot, a robot pet by Boston Dynamics.

 –Abhishek

 

 Market Pulse

  • VC fund Metaform Ventures is investing $2 Mn in its India Center of Excellence to conduct research on tobacco cessation and harm reduction
  • Facebook said that it has now selected six projects from India that will focus on three key areas – governance, cultural diversity, and operationalising ethics
  • Growth stage VC firm Avataar Capital Management launched its first investment fund of $300 Mn, named Avataar Venture Partners I
  • Amazon India’s plans to buy a minority stake in Mukesh Ambani-owned Reliance Retails have most likely fallen apart due to high valuations
  • OYO Hotels and Homes is in talks to raise fresh funding between $750 Mn-$1Bn from Japanese multinational conglomerate SoftBank
  • Real estate startup NoBroker is in talks to raise a $100 – $130 Mn funding round from Tiger Global and General Atlantic. This new round is expected to value the company at $400 Mn
  • Bengaluru-based accelerator The CoWrks Foundry has announced the conclusion of its third cohort with eight startups

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