Tag: Newsletter

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.
Read More
 
 

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
Read More

                                           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.
Read More
 

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.
Read More

              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

VP Weekly | 22nd Sept ’19

September 22, 2019

Mobile value-added services firm OnMobile to sell a minority stake to Jump Networks
Jump Networks, which provides digital services to low-bandwidth mobile phone users, will acquire an 18% stake in mobile value-added services provider OnMobile Global for $207 Mn.
Read More
 

Rana Kapoor family firm pares stake in Yes Bank
Morgan Credits, owned by Yes Bank co-founder Rana Kapoor’s family, has sold a 2.3% stake for $47 Mn in the private-sector lender.

               Startup News Snippets

                                                           M&A News

Editor’s Weekly Pick

The translation of intellectual ‘strategy’​ to ground-level ‘execution’​ for early-stage ventures. Here are my views highlighting a permanent hurdle faced by every startup.

–Abhishek

 

Market Pulse

  • France-based multinational advertising and public relations company Havas Group has acquired Indian digital agency Langoor for an undisclosed amount
  • Agra-based business-to-business marketplace for leather products ShoeKonnect will raise $1.5 Mn Series C funding from India’s premier Internet-based business, Info Edge
  • The Government of Karnataka in association with NASSCOM and ecosystem partners, Startup Karnataka, TIE and THE GAIN launched ‘Bangalore Fintech Forum’
  • Mumbai-based VC Lightbox Ventures closed its third India-focused investment fund at $209 Mn. The fund’s closing amount is slightly higher than the fund’s initial target of $200 Mn
  • Microsoft India will launch “Highway to a Hundred Unicorns” program in collaboration with the Industries Commissionerate and iNDEXTb, Government of Gujarat
  • Singapore-headquartered venture capital firm Vertex Ventures closes its $305 Mn early-stage fund focused on investing in Indian and Southeast Asian technology startups
  • Early-stage investor Kae Capital will raise its third venture capital fund of $60 Mn. With the new funding, the company is expected to increase its funding ticket size

VP Weekly | 15th Sept '19

September 15, 2019

Flipkart Gets $225 Mn Boost Ahead Of Festive Season Sales
Walmart-owned Flipkart has received $224.9 Mn infusions from its Singapore-based entity, Flipkart Private Limited.
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CPPIB Invests $115 Mn In Logistics Unicorn Delhivery
Gurugram-based eCommerce logistics startup Delhivery has raised $115 Mn in fresh funding from the Canada Pension Plan Investment Board (CPPIB). Following this investment, CPPIB will have one seat on Delhivery’s Board.
Read More

                                               Startup News Snippets

                                                              M&A News

Market Pulse

  • Early-stage venture investment firm Good Capital announced a $25 Mn fund. The venture fund, founded by brothers Rohan and Arjun Malhotra
  • Mumbai-based audio streaming platform JioSaavn received $19 Mn from Reliance Industries. Reliance’s Jio Music and Saavn combined valuation was $1 Bn at the time of the merger
  • Delhi-based agritech-focused incubator Indigram Labs announced the launch of Adhunik Gram, a smart village program to empower agribusinesses in India
  • Entrepreneur-turned-investor Binny Bansal is now planning to roll out a venture capital fund to target a corpus of $300-$400 Mn. The fund’s primary focus will be on Indian startups
  • Reliance Industries is planning to fund and are scouting around for all technology available for waste segregation, recycling, and waste to energy
  • Pune-based food maker and delivery app Rebel Foods will raise $73 Mn Series D funding from New York-based technology hedge fund Coatue Management
  • Venture capital fund Chiratae Ventures is all set for the first close of its fourth India-focussed fund at $150 Mn. The venture fund plans to raise $275 Mn for the fund

VP Weekly | 8th Sept '19

September 8, 2019

NCLT approves JSW’s $2.7-bn bid for Bhushan Power & Steel
The National Company Law Tribunal (NCLT) has approved billionaire Sajjan Jindal-led JSW Steel Ltd’s offer of $2.7 Bn to buy debt-laden Bhushan Power & Steel Ltd.
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Data Management Company Commvault Acquires SDS Vendor Hedvig For $225 Mn
Data management company Commvault is all set to acquire software-defined storage (SDS) company Hedvig for $225 Mn. The cost includes the purchase price and ongoing employee retention.
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                                                Startup News Snippets

                                                              M&A News

Editor’s Weekly Pick

Can the Indian industry and society brace itself against economic downturns in the future? Is it only cyclical, or something more fundamental/structural? Here we share a  different perspective about the Indian economic slowdown.

–Abhishek

 

Market Pulse

  • Early-stage venture fund Chiratae Ventures will raise $20 Mn from a member of the World Bank Group, The International Finance Corporation (IFC)
  • Asia’s largest startup conclave, Huddle Kerala, is returning with its 2nd edition on Sept 27-28 to celebrate the startup ecosystem in one of the most progressive states in the country for startups
  • Gurugram-based eCommerce company Snapdeal founders Kunal Bahl and Rohit Bansal have come together to set up an investment vehicle, Titan Capital
  • Three months after selling shares worth $76.4 Mn, Flipkart co-founder Binny Bansal sold additional shares in the company to Tiger Global Management for $14 Mn
  • To offer mentorship guidance to startups in Punjab, YES BANK has signed a Memorandum of Understanding with the state government’s Startup Punjab initiative
  • Lightspeed India Partners selected Blackboard Radio, Bakbuck, Deepsync, EazyPG, Gratitude, GroMo, Ithaka, Openapp, Womaniya, and Xeno for Extreme Entrepreneurs 2019
  • French cosmetics giant L’Oreal invested an undisclosed amount in Fireside Fund II, an early-stage venture capital fund managed by Bengaluru-based Fireside Ventures

VP Weekly | 5 May ’19

May 5, 2019

Ola Plans To Raise An Additional $300 Mn As Part Of Series J Round
Cab hailing giant Ola’s parent company, ANI Technologies, has proposed to increase its authorised capital to include an additional number of Series-J shares. This move indicates the company’s intentions to raise an additional $300 Mn as a part of its ongoing funding round. Read More
Mumbai-based digital lending startup InCred closed its Series A Funding at $86 Mn
The funding round was led by Dutch development finance institution FMO. The funds will help the company boost its balance sheet lending.
Read More

Startup News Snippets

M&A News

Editor’s Weekly Pics

Despite the rise of Edtech startups and attention from investors & government, the Indian education system is still suffering from some serious lacunae.


–Abhishek

Market Pulse

  • Jungle Ventures made the first close of its third fund at about $175 Mn. The early stage investment fund’s Indian portfolio includes LivSpace, PaySense, and Engineer.ai.
  • Auto portal CarDekho announced that it will buy back shares worth $2.5 Mn from its employees, under the Girnar group ESOP repurchase plan, 2019
  • Hyderabad-based healthcare technology firm Suvarna Technosoft is acquiring a controlling stake in Mumbai-based laboratory information management systems (LIMS) solutions provider MedPrecinct Solutions.
  • Walmart-owned Flipkart is looking to expand the offline reach, as well as boost its grocery delivery business.
  • Gurugram-headquartered online travel company MakeMyTrip acquired a majority stake in Mumbai-based corporate travel management startup Quest2Travel for an undisclosed amount.
  • Gurugram-based hospitality chain OYO committed to acquire Amsterdam-based vacation rental company @Leisure Group.
  • D’Cal’s cost-effective pocket-friendly device turns hard water into soft water with zero wastage. D’Cal is currently bootstrapped, recorded more than INR 1 Cr in sales last quarter

VP Weekly | 28 Apr ’19

April 28, 2019

Softbank may invest $2-3 Billion in Reliance Jio
Japanese conglomerate SoftBank is reportedly looking to invest around $2 Bn to $3 Bn in Mukesh Ambani led Reliance Jio through the $100 Bn Vision Fund.
Read More

Piramal plans to merge three Shriram entities; mulls exit
Piramal Group plans to merge all three entities of Shriram group and financial services – Shriram Capital, Shriram Transport and City Union.
Read More

Startup News Snippets

M&A News

Editor’s Weekly Pics

Large enterprises are becoming better at driving innovation and make strategic investments by setting up in-house incubation centers. Here is a good summary of corporate incubators from Forbes.

–Abhishek

Market Pulse

  • Indian sweets and snacks brand Haldiram has entered the Indian startup ecosystem with an undisclosed investment in Mumbai-based integrated incubator Venture Catalysts (Vcats).
  • South African Internet conglomerate Naspers has sold its stake in online travel company MakeMyTrip (MMT) to Chinese travel agency Ctrip.
  • Online classifieds marketplace Quikr acquired Bengaluru-based used goods marketplace Zefo, for INR 200 Cr ($28.51 Mn). With Zefo, Quikr is looking to further scale its pre-owned goods and services vertical.
  • Ministry of Commerce and Industry has proposed setting up ‘India Startup Fund’ with a corpus of INR 1,000 Cr to support high technology startups.
  • Tata Trusts and Social Alpha announced the launch of Social Alpha Energy Challenge 2.0 (SAEC 2.0) to find disruptive, innovative and impactful technology blueprints and prototypes across the energy value chain.
  • Mumbai-headquartered impact venture fund Omnivore announced the final close of its second fund, Omnivore Partners India Fund 2, at $97 Mn.
  • M3 India, the Indian subsidiary of Japanese Healthtech company M3, picked up a majority stake in Bengaluru-based edtech startup Neuroglia Health Private Limited (NHPL).

VP Weekly | 21 Apr ’19

April 21, 2019

Despite TikTok Scrutiny, ByteDance To Invest $1 Bn In India
ByteDance’s TikTok app was removed from Google Play Store and Apple App Store in India, but ByteDance remains bullish on the Indian market. The Chinese social networking company is now planning to invest $1 Bn in its India operations.
Read More

Cred Raising $100 Mn From Hillhouse Capital, Existing Investors
Bengaluru-based credit card bill payment startup Cred is reportedly looking to raise $100 Mn from China-based venture capital firm Hillhouse Capital and its existing investors which include Sequoia Capital, Ribbit Capital, Apoletto Asia among others.
Read More

Startup News Snippets

 M&A News

Editor’s Weekly Pics

One of world’s best known VCs – Sequoia Capital started a program called Surge for early-stage startups. Here is the first cohort of 17 that recently graduated, with some ‘incredible’ business models.


–Abhishek


Market Pulse

  • The Government of Maharashtra last year introduced Mumbai FinTech Hub to enable financial empowerment and technological advancement by nurturing start-ups with the potential to scale 
  • Eight Indian Startups have made it in the first cohort of 17 startups selected under Sequoia Capital’s startup accelerator and incubation programme Surge
  • Railways-owned Indian Railway Catering and Tourism Corporation and Indian Railway Finance Corporation are planning INR 1500 Cr through initial public offerings by September this year
  • TalentSprint announced Women Engineers Program supported by Google, to nurture 600 women software engineers from India over the coming three years 
  • Bengaluru based online footwear startup Rapawalk raised $350K in a seed funding round from angel investors including Raveen Sastry, Sanjay Ramakrishna, Ravi Garikipati and Ajith Pai
  • Bengaluru-based Business Services provider Quess Corp acquired Hyderabad based business process solutions provider Allsec Technologies
  • Mumbai-based AI-centric edtech startup WhiteHat Jr raised $1.3 Mn in a seed funding round from Nexus Venture Partners and Omidyar Network India

VP Weekly | 14 Apr ’19

April 14, 2019

PayU acquires Accel-backed digital payments firm Wibmo for $70 mn
Online payment company PayU, a subsidiary of South African media and e-commerce group Naspers, has acquired digital payments firm Wibmo Inc. for $70 Mn.
Read More
IFC plans to arrange $103 mn loans for Visakha Container Terminal
International Finance Corporation (IFC), the World Bank’s private-sector investment arm, plans to arrange a loan worth $103 million (Rs 710.7 crore at current exchange rate) for Visakha Container Terminal Pvt. Ltd. Read More

Startup News Snippets

 M&A News

Editor’s Weekly Pics

Every modern business leader talks data, but all the software, data and the Internet ultimately resides in massive data centers. Data localization laws are likely to trigger massive demand of data centers in India. What would they look like?..  here’s an insider’s view into one of world’s largest data centers at Google USA.

–Abhishek

Market Pulse

  • Sachin Bansal is looking to acquire as much as 75% stake in Bengaluru-based Chaitanya Rural Intermediation Development Services which runs a microfinance institution, Chaitanya India Fin Credit worth $29 Mn
  • Naspers-owned fintech company PayU acquired Bengaluru and Cupertino-based Wibmo specialised in processing online payments worth $70 Mn
  • Premium organic wellness startup for women, Azah, raised seed funding of $200K in the seed-round funding from a group of angel investors
  • The leAD Sports Accelerator launched its third cohort to search for the most promising sports tech startups
  • Mumbai-based fintech lending startup Eduvanz Financing raised $2 Mn (about INR 13 Cr) from Unitus Ventures and the Michael and Susan Dell Foundation
  • Bhopal-based startup Thekabadiwala raised $433K of equity funding from early-stage investors
  • Info Edge India invested around $1 Mn in ShoeKonnect, a B2B marketplace for the footwear industry. Post this deal, Naukri.com will hold 30% in ShoeKonnect and is now valued at $11.5 Mn

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.
Read More

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.

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