Here is a roundup of India monthly roundup of Start-up world, funds, funding and investments in April 2019.
India monthly roundup of Start-up world in April
- Many lending startups in India are planning to raise fresh equity due to ease down of the liquidity situation.
- Zoomcar is in talks to raise around $500 million in a fresh round of funding led by Mahindra and Mahindra. If the deal goes through, Zoomcar’s valuation may shoot up to around $1 billion.
- Metropolis Healthcare has raised Rs.530 crores by selling shares to anchor investors.
- Mswpite has raised $30 million from its existing investors including Eduardo Saverin, co-founder Facebook. The firm has raised around $80 million till date.
- Sequoia Capital is looking to raise its maiden seed fund in India of around $200 million to fund early-stage deals.
- TAL Education Group, a Beijing based education and technology enterprise, has invested around Rs.35 crores in Vedantu, a live online tutoring company.
- Airbnb Inc. has invested an undisclosed amount in Oyo. The investment is said to be around $150-200 million. The deal will allow Oyo’s villas and homes in India, Dubai and other markets to be listed on Airbnb.
- Pacific Alliance Group, a leading Asian PE Manager, is set to open an office in India and has roped in Nikhil Srivastava, Director KKR as head of its India PE operations. PAG manages assets amounting to over $20 billion.
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- Ajay Piramal-led Piramal Group has roped in Canada Pension Plan Investment Board, largest pension fund manager of Canada, as an anchor investor for a total commitment of around $2 billion to acquire operating renewable energy and roads assets.
- Everstone will sell its entire stake of 70% in Rubicon Research for Rs.1, 000 crore which it had bought in 2016 for Rs.220 crores. Rubicon is into R&D and manufacturing of branded and specialty generic and OTC products.
- Zivame has raised Rs.60 crore as part of a bridge round led by Zodius Technology and a group of HNIs.
- CoWrks is planning to raise $350 million in equity to fund domestic and foreign expansion. The firm has appointed Morgan Stanley and Bank of America Merrill Lynch for the fundraising.
- Nykaa has raised $14.4 million in a fresh round of funding from TPG Growth Capital. The firm’s valuation now stands at $734 million.
- DSG Consumer Partners has marked the first close of DSGCP III, its $50 million third fund, at $30 million. The fund will focus on seed and Series an investments in consumer brands in India and Southeast Asia.
- Sachin Bansal is in talks with Chaitanya Microfinance to buy a large stake in the firm held by Shorecap.
- RentoMojo is in discussions to raise fresh funding of up to $40 million from its existing and new investors.
- JSW Steel has raised US$500 million through an international bond issue. The five-year dollar money sale saw high demand from investors across Europe and Asia.
- CleverTap, a mobile app analytics startup, has raised $26 million in a funding round led by Sequoia Capital and Tiger Global.
- GlowRoad, a Social commerce platform, has raised $10 million in a Series B round of funding led by CDH Investment of China. GlowRoad connects resellers directly with raw material suppliers using social media platforms like WhatsApp and Facebook.
- Avaada Energy has raised Rs.1, 000 crores from ADB, Germany’s DEG and Netherlands’ FMO for financing its 2.4 GW renewable energy portfolio.
- Tata Sponge Iron has completed the acquisition of Usha Martin’s steel business. Transfer of some assets however is pending. Tata had entered into an agreement for acquisition in Sept.2018 for Rs.4300-4700 crores.
- Dvara KGFS has acquired Varam Capital, a micro lender, in an all cash deal.
- SigTuple, a diagnostics startup, has secured $16-million in a Series C round of funding led by Trusted Insight. Its existing investors also participated including Binny Bansal who will join the board of the firm.
- General Atlantic will invest $100 million in Rubicon Research. GA had acquired a controlling stake in Rubicon last week.
- India Resurgence Fund has announced an investment of up to Rs.992 crore in Panacea Biotec. Funds will be used for a one-time settlement of existing lenders, working capital and further growth.
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- Increff, a startup offering supply chain and warehousing solutions to physical stores, has raised $3 million in a Series a round of funding led by 021 Capital and Binny Bansal.
- Electronica Finance has raised $10 million from responsibility. Funds will be used for financing equipment in plastic, machine tools, and printing and packaging industries.
- The strategic fintech investment team of Eight Roads, the proprietary investment arm of Fidelity International, has made its first investment in India, putting in $4.5 million in Kuvera, a tech-based wealth management startup.
- VC investors are now increasingly participating in mid-series (Series B-C) fundraisings due to more opportunities and lower competition. VC investors such as A91 Partners, Iron Pillar, Mirae Asset Global are now exclusively targeting the mid-stage ventures.
- Cred, financial tech startup of Kunal Shah, is in talks with some of its existing investors and Hillhouse Capital of China to raise around $100 million. The deal may take valuation of the firm to $400 million.
- CureFit is close to raising $75 million in a fresh round of funding from Accel Growth and Chiratae Ventures. The funding may take the firm’s valuation to $500 million.
- Apis Growth Fund II is investing $110 million to acquire a minority stake in L&T Infrastructure Debt Fund.
- Coursera, an online education platform, is said to have raised USD 103 million in a funding round led by SEEK group.
- Future Retail has raised around Rs.2, 000 crore through issue of warrants to its promoter group entity on a preferential basis.
- ai, an AI-based start-up working on automating fashion retail, has raised $17 million in a Series B round of funding led by Falcon Edge Capital. The firm has so far raised $27.5 million funding including the current round.
- Mobile Premier League, a mobile-focused eSports gaming platform, has raised $35.5 million in a Series A round of funding led by Sequoia India, Times Internet, and GoVentures.
- Tiger Global has invested $89.5 million in NinjaCart, an agri-tech startup.
- Omnivore Partners, an early-stage venture investment fund, has raised $97 million for its second fund as against its target of $75 million.
- SoftBank is reportedly looking to invest $2-3 billion in Reliance Jio.
- Haldiram has reportedly invested an undisclosed amount in Venture Catalysts, an incubator and early-stage investor.
- CDC Group of UK has invested $40 million in BigBasket. The investment is part of $150 million BigBasket is working on to raise at a valuation of $1.2 billion.
- CleanMax Solar has raised Rs.275 crore in equity funding from UK Climate Investments LLP. UKCI is a JV between Green Investment Group and UK government’s department for business, energy and industrial strategy, which has the mandate of £200 million pilot investment programme to be invested in India and sub-Saharan Africa.
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- mfine, a Bengaluru-based health-tech AI startup, has raised $17.2 million in a Series B round of funding led by SBI Investments of Japan. The firm has so far raised over $24 million.
- Bounce, the two-wheeler rental startup, is close to raising $80 million from its existing investors- Sequoia Capital, Accel Partners and Chiratae Ventures, and some new investors.
- ZestMoney, a fintech firm, has raised $20 million in its Series B round of funding led by Quona Capital. It had previously raised $6.5 million seed funding in 2017.
- As per EY’s Private Equity Monthly Deal Tracker, PE, and VC investments hit a record monthly high of $7 billion in March 2019. The investments during March 2018 were $3 billion.
- As a result of the shutdown of Sterlite plant in Tuticorin, India’s copper exports fell around 70% to $1 billion in fy 18-19.
- As per Trai data, Jio has emerged as the fastest mobile network in Feb. with an average download speed of 22.2megabit per sec.