Category: Startup Newsletter

VP Weekly | 7 Apr ’19

April 7, 2019

Xiaomi and Shunwei are investing $7 Mn in bus tracking app Chalo
The investment arm of Xiaomi, Shunwei Capital had raised a $1.21 Bn fund in November last year, promising a significant chunk, approx $1 Bn to be invested in India. The first startup to get a piece of this cake is Chalo.com.
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Logistics Unicorn BlackBuck Raises $ 79.9 Mn In Series D Round
Bengaluru-headquartered logistics startup BlackBuck has raised $79.9 Mn in a Series D round from Accel Partners US, Goldman Sachs and B-Capital issuing 28,571 compulsorily convertible preference shares.
Read More

                                       Startup News Snippets

                                                     M&A News

Editor’s Weekly Pick

2018 has been a landmark year for startup exits – what does this mean for investments in startups over the next 5-7 years? what sectors still have potential opportunities? Here are some good insights from Matrix Partners.

–Abhishek

Market Pulse

  • Indonesia-based ride-hailing company, GoJek, is to close two investment deals with Mumbai-based cloud kitchen player Rebel Foods which runs Faasos and Bengaluru-based esports startup Mobile Premier League.
  • Bengaluru-based self-drive car rental platform, Zoomcar, to raise around $500 Mn in a funding round led by automaker Mahindra & Mahindra.
  • Watch and personal accessories maker Titan has invested $14 Mn into Chennai-based online jewellery store CaratLane. CaratLane allocated 30,48,780 shares to Titan.
  • Amazon has invested approximately $35 Mn into its food ecommerce arm Amazon Retail India.
  • US-based curated closed marketplace for startups and investors AngelList has launched an India focused fund – The Collective. The Collective will invest about $0.14 Mn each in 60-80 startups annually.
  • Early-stage venture capital firm, DSG Consumer Partners has announced the launch of its third investment fund, which made its first close at $30 Mn.
  • WittyFeed has announced the launch of CatchUp, a social infotainment startup that will give users the opportunity to stay on top of trends online via audio-visual format.

VP Weekly | 31 Mar ’19

March 31, 2019

With 45 Mn MAUs, Google Pay hit $81 Bn annualised transaction run rate in March
Google’s UPI-based payment app Google Pay has seen remarkable growth since its 18 months of launch in India. Escalating on the back of UPI growth, Google Pay has hit $81 billion annualised transaction run-rate in March. Read More

Paytm Valuation To Hit $18 Bn With Top Up From SoftBank, Ant Financial
Digital payment company Paytm is reportedly in the middle of raising around $1.5 Bn – $2 Bn from its existing investors SoftBank Vision Fund and Alibaba’s Ant Financial.
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                                       Startup News Snippets

M&A News

Editor’s Weekly Pick

Putting consumers ‘first’… everyone talks, but Apple seems to be trying an interesting way of doing it in consumer finance. The opinion on ‘right’ and ‘wrong’ in customer service seemed ironical 🙂 Read More

–Abhishek

Market Pulse

  • RBI is looking to issue guidelines for setting up a regulatory sandbox or innovation hub for the fintech startups to help the companies build innovative products at a lower cost.
  • Bus shuttle service startup Shuttl is set to close its Series B funding round with $7.23 Mn from Sequoia, Lightspeed and Times Internet.
  • International health-focused innovation platform Well Tech collaborated with Venture Catalysts to initiate a healthtech-oriented acceleration programme ‘HealthCare Catalysts’. 
  • SoftBank may lead a $7-100 Mn funding in cloud kitchen startup Faasos. Goldman Sachs, Tencent & Temasek are also expected to participate in the round.
  • Chennai-based pharmaceutical ecommerce portal Netmeds.com has acquired of another healthtech startup KiViHealth in a cash and stock dealfor $10 Mn to integrate and grow KiVIHealth  business segment.
  • Dubai-based wholly owned subsidiary of Infibeam Global, EMEA FZ-LLC has signed MoU with Middle East’s investment firm UniPropitia FZCO to expand its web service platform in the Arab League countries.
  • UniPropitia will acquire a 51% stake in the Dubai subsidiary for a total consideration not exceeding $

VP Weekly | 24 Mar ’19

March 24, 2019

Ahead Of IPL, Flipkart’s PhonePe Receives $107.6 Mn Cash Infusion
Flipkart owned online payment company PhonePe has raised $107.6 Mn from its Singapore-based parent entity PhonePe Pvt Ltd, formerly known as Flipkart Payments.
 Read More

Xiaomi Bets Big On India Play With Latest Infusion Of $507 Mn
This week one of the biggest fundings came to Chinese smartphone maker Xiaomi’s India unit which raised $507 Mn from its Singapore parent company. The company will reportedly utilize the funds to enter the white goods sector as well as to expand its company-owned Mi Home retail stores to sustain the leadership in the Indian smartphone market. Read More

Startup News Snippets

M&A News

Editor’s Weekly Pick

It is common to read about the questionable nexus between business, politics and banking in India. But, beyond homeland, here is a fascinating read about how the world’s most powerful man kept raising funds from one of world’s biggest banks despite many disputes and bankruptcies. This will surely make it to Hollywood one day 🙂

–Abhishek

Market Pulse

  • Gujarat University Startup and Entrepreneurship Council hosted her START programme where 35 ideas were selected for pre-incubation support.
  • US-based Airbnb is in discussions to invest in Indian hotel management startup OYO. If completed, the investment would likely be in the $100 Mn to $200 Mn range. 
  • The global social media giant Facebook is in early talks with several content startups, including PopXo for potential investments.
  • Beauty e-tailer Nykaa acquired women styling platform 20Dresses.com for an undisclosed amount to expand its fashion business.
  • Bengaluru based edtech unicorn BYJU’S raised $25 Mn from General Atlantic in Series G funding round and $6 Mn from Tencent in its Series F funding round.
  • California and Bengaluru-based AI assistance provider to small businesses, FrontdeskAI raised $2 Mn pre-Series A funding round from pi Ventures.
  • Mobile-based online fantasy gaming platform HalaPlay raised $5.8 Mn in Series A funding led by Nazara Technologies and Delta Corp.

VP Weekly | 17 Mar ’19

March 17, 2019
Amazon-Backed Acko Raises Fresh $65 Mn In Series C From Binny Bansal, RPS Ventures, Others
Mumbai-based online-only insurance startup Acko has raised $65 Mn in Series C funding from a bunch of existing as well as new investors.
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Hotstar Raises $153 Mn To Up Its Game For The Indian OTT Market
Star India and Star US Holdings have infused $153 Mn into their wholly owned  Nova Digital media which operates Hotstar.
  

Startup News Snippets

M&A News

Editor’s Weekly Pick

Gig economy has truly taken off – not only in the west, but across the world. Here is an eclectic mix of businesses that one can start relatively easily, as identified by Entrepreneur magazine. Read More

–Abhishek

 Market Pulse

  • Mukesh Ambani-led Reliance group was reportedly in talks to acquire O2O fashion ecommerce platform, Fynd.
  • Hospitality unicorn OYO announced a commitment of INR 1,400 Cr ($200 Mn) for its India and South Asia business in order to double down on its expansion plans, and improve its back-end technology.
  • Japanese conglomerate SoftBank will launch a new global fund, SoftBank Acceleration Fund, worth $500 Mn next month.
  • A group of 35 entrepreneurs hailing from a diverse range of industries that include financial services, fast-moving consumer goods (FMCG), apparels, travel, furnishing and more have come together to launch an early stage startup accelerator — Risers.
  • Google India announced the shortlisted startups that will be part of its second batch part of the Launchpad Accelerator program for India.
  • TiE Hyderabad announced the start of a 3rd edition of its TiE Grad Business Idea Tournament for College Grad which aims to bring more cities and grad schools into the startup ecosystem.
  • India Accelerator has selected nine startups from the domains of security, marketing, media and entertainment, travel, hyper-local, B2B travel and Agritech for its spring 2019 cohort.

VP Weekly | 10 Mar ’19

March 10, 2019
Hyundai In Talks To Invest In Ola To Support Its Electric Vehicle Foray
South-Korean automaker Hyundai Motors is reportedly in talks with Bengaluru-based cab hailing giant Ola to invest up to $200 Mn – $300 Mn.
Read More
ShareChat in talks to raise $200M in fresh funding
ShareChat, a regional language social media platform, is in talks with Tencent Holdings and others for funding to raise as much as $200 Mn.
Read More

                                      Startup News Snippets

                                                   M&A News

Editor’s Weekly Pick

Health-tech is continuing to heat-up. More IoT, better data capturing, more analytics. Here are the some of the health-tech startups worth keeping a track of in 2019. 

–Abhishek

Market Pulse

  • Venture Catalysts joined hands with Women entrepreneurship to initiate an incubation programme dedicated to assist women entrepreneurs in their startup journey.
  • The Government of Telangana successfully hosted its annual flagship life-sciences and healthcare forum, BioAsia 2019, in Hyderabad.
  • K-Tech, Department of IT, BT and S&T, Government of Karnataka, in partnership with CWE announced that it will be accepting open call applications for women entrepreneurs for incubation.
  • Hyderabad-based WayCool Foods announced the acquisition of the physical distribution business of Bengaluru based B2B company Aalgro Foods.
  • Kolkata-based Gozo Cabs raised an undisclosed amount from renowned Silicon Valley investors such as Prem Jain, Former Cisco SVP and Jayan Ramankutty who is also a serial entrepreneur.
  • Paytm’s wealth management platform Paytm Money has received fresh funding of $4 Mn from the parent entity – One97 Communications.
  • Gurugram-based non-banking finance company Aye Finance raised $33.34 Mn in Series D equity round led by New York-based investment firm Falcon Edge Capital.

VP Weekly | 3 Mar '19

March 3, 2019

Deloitte Pegs India’s E-commerce Market at $200 Bn, To Cross $1 Tn By 2021
E-commerce will be the engine of the next level of Indian consumer growth in 2019, stated a Deloitte India and Retailers Association of India report. The report has valued India’s e-commerce marketplace at $200 Bn and predicted its growth to $1.2 Tn by 2021.
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India’s Top Exporter Reliance Industries Buys Reverie Language Technologies
Reliance Industries, one of India’s largest and most profitable private sector companies has acquired language services and technology company Reverie Language Technologies.
Read More

                                          Startup News Snippets


M&A News

Editor’s Weekly Pick

A platform play is perhaps the most lucrative of all business models – commanding monopolistic market-share with superior bargaining power. Here’s a great article covering how traditional businesses are trying to transform themselves into platforms. Softbank’sVision Fund continues to raise the bar of startup investments multi-fold. Here is an interesting opinion of their investment style and impact on VC world.

–Abhishek

Market Pulse

  • The four Indian startups selected in the Y Combinator 2019 winter batch are MyScoot, Skill-lync, Trexo Robotics and Mudrex Inc.
  • Sachin Bansal via BAC Acquisitions has invested $35.16 Mn each via non-convertible debt in Non-Banking Financial Companies Altico Capital India and IndoStar Capital Finance. 
  • The bengaluru-based home rental startup, NestAway has launched a six-month equity free incubation programme for consumer startups. 
  • Delhi-based integrated incubator Venture Catalysts has entered into a partnership with JPIN to build the largest Euro-Asia corridor for angels to invest and nurture early stage ventures. 
  • The Telangana Government in partnership with GlobalLinker announced the launch of a digital networking platform called ‘Telangana State GlobalLinker’. 
  • The CoWrks Foundry has partnered with Yale University with support from the RMZ Foundation, to launch the Sustainable Health Initiative. 
  • Venture Capital firm A91 Partners raise $25 Mn from IFC. The World Bank’s investment arm said that the target corpus of the fund is pegged at $250-300 Mn. 

VP Weekly | 24 Feb '19

February 24, 2019

Adani Group looks to pick up stake in Mumbai Airport for $1.3 Bn
Billionaire Gautam Adani-led diversified conglomerate Adani Group to pick up a 23.5% stake in Mumbai International Airport from South Africa’s Bidvest Group and Airports Company South Africa. Read More

Entrepreneur First raises $115 Mn for first close of a new deep tech fund
Entrepreneur First, an investment firm which focuses on promoting startup development, has raised $115 Mn for the first close of a new deep tech-focused global fund. Read More

Startup News Snippets

M&A News

Editor’s Weekly Pick

Softbank’s Vision Fund continues to raise the bar of startup investments multi-fold. Here is an interesting opinion of their investment style and impact on VC world.

–Abhishek


Market Pulse

  • Online lending startup Capital Float may soon raise $100 Mn-$150 Mn fresh funds from Naspers-ownedfintech company PayU for a 25%-30% stake valuing it at nearly $500 Mn.
  • The Department of Science and Technology, Lockheed Martin Corporation and Tata Trusts announced an investment of $2 Mn for social and industrial innovations under the India Innovation Growth Programme 2.0.
  • Delhi-based angel investor Dhianu Da launched his VC fund, Alfa Ventures with a corpus of INR 100 Cr. 
  • Ecommerce companies Amazon and Flipkart are reportedly in talks with Mumbai-based online kids fashion platform Hopscotch for purchasing a significant minority stake. 
  • BLS Accelerator has committed to invest upto $1 Mn in early startups across focussed sectors includingagritech, G2C, egovernance, healthcare and travel.  
  • Singapore-based BIGO Technology, a global video-based social media platform has committed $100 Mn investment in India over the next three years. 
  • CBA Ventures and MET League of Colleges, Bandra have come together to launch Startup Accelerator in Mumbai. The initiative is likely to provide MET with the early mover advantage in the global content.

VP Weekly | 17 Feb '19

February 17, 2019

KKR in talks to invest in Emami; Temasek may inject fresh funds into Pine Labs
Global alternative assets giant KKR & Co. is in advanced negotiations to invest $280 Mn via structured finance in Kolkata-based Emami Group.
Read More
Paytm Pledges All Assets To ICICI Bank To Borrow $196 Mn
One97 Communications-owned Paytm, has pledged all its current assets and mutual fund investments to ICICI Bank Ltd in order to borrow $196 Mn for its working capital needs. Read More

  Startup News Snippets


M&A News

Editor’s Weekly Pick

We should know what we know, and know what we don’t know. Our greatest fallacies lie in us not knowing what we don’t know. A young entrepreneur shared this wonderful video about the Dunning-Kruger effect, which is as applicable to startups as it is to established leaders.

–Abhishek

WBEC at Indore


This week TiE’s Madhya Pradesh chapter successfully co-organized a major event – World Business ‘nEconomy Congress, which brought many dignitaries, including Capt Gopinath, Ashwani Lohani, Aishwarya Rai, Madhavan Nair and 20 more entrepreneurs, academicians, celebrities and leaders from across India.

 Market Pulse

  • Global alternative asset company TPG announced the final close of its Asian focused PE fund, TPG Capital Asia VII fund, after raising  $4.6 Bn in commitments.
  • Indian startups are currently making a successful entry into the European market through Estonia. Mukesh Ambani had also participated in the programme and has set up a research centre for Jio in the country.
  • The MSInS organized the Maharashtra Startup Week to support the startup ecosystem in the state and gives a platform for budding entrepreneurs to grow by showcasing their innovative solutions to the Government of Maharashtra.
  • PhonePe is speculated to raise fresh funds from PE firms KKR & Co, General Atlantic LLC, Tiger Global, and Tencent. 
  • Ola to raise funding from Mirae Asset-Naver Asia Growth Investment, which was jointly launched by Korea-based Mirae Financial Group and internet company Naver, with the investment in ongoing Series J funding where it is expected to raise $1 Bn.
  • Bengaluru-headquartered food processing company Britannia is now looking to set up a separate entity and team over the next 6 months to invest in Indian startups across categories and platforms.

VP Weekly | 10 Feb '19

February 10, 2019

Mukesh Ambani to invest $1.4 Bn in Bengal, will help e-commerce expansion
Reliance Industries chairman Mukesh Ambani will invest $1.4 Bn in West Bengal, a part of which would fund the company’s new e-commerce venture. Read More
SoftBank to invest $440 mn in Indiabulls Housing-backed OakNorth Bank
Japanese internet conglomerate SoftBank Group Bank is investing $440 Mn in the UK-based OakNorth Bank, which counts Indiabulls Housing Finance Ltd as a shareholder. Read More

Startup News Snippets

M&A News

Editor’s Weekly Pick

By now almost everyone has heard about the so-called Angel Tax ‘terrorism’ by IT dept against Travel Khaana & others. Though some relief was announced before, there is more expected.

 –Abhishek

Market Pulse

  • Indonesian ride-hailing company Go-Jek raised $1 Bn as part of its Series F funding round led by Alphabet’s Google, JD.com and Tencent Holdings. 
  • India’s largest bus aggregator Shuttl has entered the hotly contested food delivery space by launching meals on buses for daily commuters, as it looks to further monetise its captive customer base.
  • Chicago-based freight tracking logistics startup FourKites will utilize a part of its $50 Mn Series C funding led by existing investors August Capital, Bain Capital Ventures, CEAS Investments and Hyde Park Angels 
  • Kerala has collaborated with Unicorn India Ventures, Exseed Electron Fund, IAN and Speciale Incept Fund for an investment of more than $140 Mn in the state startups over the next four years. 
  • Canadian private equity firm Brookfield Asset Management is in preliminary talks with India’s Reliance Industries to buy a stake in its optical fibre and telecom tower assets
  • Bengaluru-based hyperlocal grocery delivery company, BigBasket, is closing a $150 Mn (INR15 Cr) funding round. The funding round values BigBasket at $1 Bn pre-money, which would make the company the first India startup to join the unicorn club in 2019.
  • The winning teams of Microsoft India’s AXLE, a Microsoft Academia Accelerator include IIT Madras: UAVs for Disaster Management, IIT Guwahati: DUBG, and  IIT Jodhpur: Disaster Chain.

VP Weekly | 27 Jan '19

January 27, 2019

Half Of Google India’s $154 Mn Ad Spend In 2018 Went To Offline Activities
Global search giant Google reportedly spent $154 Mn on advertising in India in 2018, making it one of the top advertisers in India. Read More

OYO Expands To Phillippines, Begins Partnering With Hotels In Manila
Homegrown hospitality unicorn OYO has entered yet another global destination in its bid to expand its customer base and extend its reach in the international tourism sector. Read More

                                        Startup News Snippets

                                                  M&A News

Editor’s Weekly Pick

From last week’s coverage of agri-tech, this week let’s look at some of the game-changing innovations in industrial robotics. Here is WSJ covering the new industrial revolution.

 –Abhishek

 Market Pulse

  • Gurugram-based automobile repair and service solution startup GoMechanic raised $4 – 5 Mn in a Series A round led by Sequoia Capital.
  • Tamil Nadu launched its Startup and Innovation policy 2018-2023 with a mission of providing an enabling ecosystem for startups registered in the state and to make Tamil Nadu a global innovation hub for startups’ by 2023. 
  • Assam Chief Minister launched the Assam Startup initiative, including state-level hub for entrepreneurship development, The Nest. 
  • Maruti Suzuki announced the launch of its Mobility & Automobile Innovation Lab as part of a program to promote innovation in India for automobile and mobility space. 
  • Hyderabad-headquartered IT park developers Meenakshi Group launched its venture fund, Meenakshi Multiples Startup Fund to invest $10 Mn in promising startups. 
  • Delhi-based early-stage consumer technology venture capital fund AdvantEdge Founders announced its second fund, AdvantEdge Founders Fund II with a target of raising a corpus of $42 Mn with a focus on mobility.
  • Venture capital firm Sequoia Capital India launched its startup accelerator and incubation programme called Surge. The Surge will pick up 10–20 early stage startups twice a year and invest $1.5 Mn in each of them at the start or very early stage of the programme.
  • Espark-Viridian is back with the fifth edition of #AccessXcceleration, inviting early-stage startups across all sectors to participate. 
  • Mumbai-based POWERED accelerator has announced nine women entrepreneurs participating in its second cohort to develop their businesses and deliver access to energy solutions across India. 
  • Gastrotope, the agrifood startup accelerator founded by Taizo Son’s Mistletoe, Rajesh Sawhney, and Infobridge, has picked five startups for its first cohort.

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