India monthly roundup of Start-up world in May, funds, funding and investments

India monthly roundup of Start-up world in May, funds, funding and investments

Here is a roundup of India monthly roundup of Start-up world, funds, funding, and investments in May

India monthly roundup of Start-up world in May

  • JSW has ventured into paints business with an investment of around Rs.600 crores, which includes debt of Rs.350 crores from Axis Bank.
  • Ftcash, a startup lending platform, has raised Rs.50 crores in a Series a round of funding led by Dutch development finance institution and Accion International.
  • Axis RERA Opportunities Fund–I has inked its first deal to invest Rs.60 crore in a township project of Akshaya. The fund had closed its first fund in April with commitments of over ₹400 crores.
  • BlackBuck, an online freight aggregator, has reportedly closed a $150 million round of funding led by Goldman Sachs.
  • Tiger Global has led a $50 million funding round in Zenoti, a SaaS startup.
  • True North has sold a majority stake in VKL Seasoning to Firmenich for an undisclosed amount. It had invested around $40 million in VKL in 2013.
  • UiPath, a robotic process automation startup, has raised $568 million in a series D round of funding.
  • Jungle Ventures, a Singapore-based VC firm, has received commitments of around $175 million for its third VC fund, majorly from institutional investors in North America, Europe, the Middle East and Asia. Jungle Ventures invests in technology and e-comm start-ups in India and south-east Asia.
  • InCred, an NBFC has raised Rs.600 crores from Dutch development finance Institution FMO, Moore Capital and Elevar Equity. The firm has so far raised Rs.1150 crores. InCred is a tech enable lender giving loans to small businesses as well as consumers.
  • Tiger Global is likely to invest in around five SaaS companies in India in May including Locus, a logistics management software company.
  • JM Financial is reportedly set to close its second PE fund for around Rs.600 crore raised mainly from HNIs and family offices.

India monthly roundup of Start-up world in May

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  • A91 Partners is in final negotiations to lead a $30 million funding round in Hector Beverages, manufacturer of Paper Boat products. Hector is seeking a valuation of around $200 million.
  • Locus, a Logistics management software start-up, has raised $22 million in a Series B round of funding led by Tiger Global and Falcon Edge.
  • HYPE Technologies, a luxury car rental startup, is in early talks to raise around $25-30 million in funding, from VCs and car makers including BMW and Mercedes. Reportedly it had gross revenue of $400,000 in fy 18.
  • Accor Hotels group is reportedly in talks with Treebo Hotels to invest around $50 million.
  • Falcon Edge, a New-York based investment firm, may invest around $30 million in Stanza Living, a student accommodation venture.
  • Grofers has raised $220 million from SoftBank Vision Fund and other investors in a series F round of funding.
  • Cars24 is in the final stages of a fresh funding round of around $70-80 million.
  • InnoVen Capital has raised $200 million in equity from its shareholders Temasek and United Overseas Bank. InnoVen offers debt to start-ups across India, China, and Southeast Asia. Firm’s portfolio includes Swiggy, Oyo and Byju’s.
  • JP Morgan has made an undisclosed investment in Global PayEx, a provider of electronic invoice presentment and payment and B2B payments space.
  • Morgan Stanley India has committed to invest Rs.145 crores in Manipal Health Enterprise. The tie-up involves an investment of ₹100 crore in Healthmap, a Public Private Partnership for diagnostic imaging.
  • Endiya Partners has put a first close of its 2nd fund at $40 Million. The fund is looking to raise up to $70 Million by the end of 2019.
  • Sundara (Mauritius) Ltd, an affiliate of PE firm Creador, has invested $18 million in iValue. iValue is a valued added distributor which provides solutions for businesses around data, network and application areas.
  • Spinny, a used car online retailing platform, has raised $13.2 million in a Series a round of funding led by Accel Partners and SAIF Partners.
  • Tiger Global is said to be in advance discussions for investing in Cred, a Kunal Shah startup. Cred is looking to raise around $100 million.
  • Vian Systems, an AI startup set up by Vishal Sikka, former Infosys CEO, has raised a funding of $50 million from US Securities and Exchange Commission.
  • KaHa, a smart wearable startup, has raised $6.2 million in a Series B round of funding led by ICT Fund. KaHa operates an end-to-end I0T platform.

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More to know about India monthly roundup of Start-up world in May

  • IFC has led a $222 million debt investment round in Cholamandalam Investment and Finance. This is IFC’s third investment in Cholamandalam after investing in 2010 and 2014.
  • Ather Energy, an electric scooter manufacturing startup, has received a funding of $51 million from Hero MotoCorp, Sachin Bansal and Innoven Capital. Out of this, Sachin Bansal has invested $32 million while Hero MotoCorp has converted its convertible debt of $19 million.
  • Awfis is in advanced talks to close a $25 Million funding round led by ChrysCapital.
  • Yamaha Corporation has announced the opening of a new music instruments factory in Kancheepuram with an investment of Rs.380 Crores.
  • B9 Beverages, makers of Bira 91 brand, has raised $4.3 million in a pre-Series C round of funding from Sixth Sense Ventures. It last raised $50 million in May 2018 from Belgian investor Sofina.
  • FreshToHome, a meat and fish e-comm firm, has raised a funding of $11 million led by CE Ventures. The company claims to receive around 8000 orders per day.
  • Paytm is reportedly leading a $15 million round of funding for HungerBox, a B2B food-tech startup. HungerBox had earlier raised $7 million.
  • IFC has agreed to invest $35 million in Manappuram Finance. The firm offers gold loans to small enterprises and low-income households.
  • Agara Labs, a deep learning tech-startup has raised $2.5 million in a pre-series a round of funding from Blume Ventures and RTP Global.
  • MTR foods has set up an Rs.50 Crore fund to invest in startups engaged in food processing.
  • Samunnati Financial Intermediation and Services, an NBFC offering loans to farmers and entities engaged in agriculture, has raised Rs.387 crores in a Series D round of funding led by Nuveen.
  • Power Finance Corp. is increasing its borrowings from the international market in 2019-20 to tide over a liquidity crunch in the country. PFC had a fund-raising target of Rs.80, 000 crores for fy 19-20, out of which it will raise 10% in foreign current borrowings.

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