India startup world news monthly roundup for February 2019
Here’s a roundup of all the happenings in India’s startup world – stake buys, funding rounds, M&As
- Avendus Capital has launched a $1-billion fund to invest solely in environment, social, and governance values focussed companies. 30% of the fund will be raised from domestic investors.
- Zomato has raised $40 million in funding from US investor Glade Brooke. The funding is part of the Series I round of $210 million from Ant Financial Zomato raised in October.
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- Mohandas Pai-backed 3one4 Capital shall raise Rs.350 crore for its new fund Continuum I. The early-stage investor has invested in data platform Tracxn, meat delivery firm Licious and fintech startup Tonetag.
- Samunnati Financial has raised $5 million in debt from Symbiotics. Samunnati provides affordable and customized financial product offerings to small/marginal farmers, working capital loans to community-based organizations and receivable finance to agri SMEs.
- TPG Growth shall invest $30 million in API maker Solara Active Pharma.
- VC firm A91 Partners has invested around Rs.60-70 crores in make-up brand Sugar Cosmetics. This is the first investment of A91 Partners from its ₹2,000-crore fund.
- KKR and Co. will infuse ₹100 crores into its asset reconstruction company by 31st March. KKR invests in private high-yield debt in India.
- Abu Dhabi Investment Authority has set up a distressed assets fund in India with Kotak anchoring it with a commitment of US$500 million. Kotak bank will put $100 million from its balance sheet. The fund will target both pre-stress and distressed opportunities.
- Grofers has raised $60 million from SoftBank in a fresh round of funding.
- Convergent Finance is leading a $22 million funding round in Hindustan Foods to pick up a stake between 20 to 26 percent.
- TPG Growth is in talks to invest around $30-40 million in Nykaa for a minority stake.
- InnoVen Capital has invested Rs.35 crores in Xpressbees, an e-comm logistics provider. This is InnoVen’s fifth deal in 2019 with a total investment of Rs.75 Crores till date.
- Saudi Aramco is in talks with Reliance Industries and some other companies to invest in refineries and petrochemical projects. Saudi Aramco is said to be the world’s most profitable company.
- Pantomath Group and Pi Square Investments have come together to raise Rs.400-crore fund to invest in 8-10 yr old companies in the manufacturing sector.
- SoftBank Vision Fund has estimated a return of approx. 25% from its investments of around $70 billion in 72 companies. The fund may exit from some of these companies in the second half of 2020 when IPOs of these companies may come up.
- Sachin Bansal has invested Rs.650 Crores in Ola.
- Cyril Amarchand Mangaldas is setting up India’s first legal technology incubation centre, named Prarambh. The centre will work with young entrepreneurs to forge new tech-based solutions for the legal industry.
- Dr Agarwal’s Health Care has raised Rs.270 crores funding from Temasek. The firm runs 76 hospitals in 63 cities across 13 Indian states as also run around 12 hospitals in 10 African nations.
- Oyo Hotels has received $100 Million in funding from Didi Chuxing of China.
- Allianz Investment has invested $200 million in Edelweiss’s stressed assets fund. This investment is part of commitments worth $1.3 billion Edelweiss secured for its EISAF II fund.