Here is the India startup world news monthly roundup for March 2019. Now you can know in and out of the happenings of the Indian startup world that took place in the month of March 2019 in this monthly capsule.
India startup world news monthly roundup for March 2019
- Facebook is in early-stage talks with several content startups in India for potential investments.
- The valuation of Byju’s has surged to over $5.4 billion after the fresh funding of $25 million from its existing investors.
- Bain Capital Ventures has invested an undisclosed amount in CoinDCX, a cryptocurrency trading platform. CoinDCX is an aggregator of cryptocurrency trading services.
- KKR & Co Inc is reportedly raising its first Asia-focused real estate fund, targeting $1.5 billion as it looks to deepen its real estate portfolio in Asia.
- Cred, a fintech funded by Kunal Shah, is looking to raise another $70-100 million. The funding round is likely to be led by Sequoia Capital and Ribbit Capital, its existing investors.
- DivyaSree, a south Indian property developer and Kotak Investment Advisors have launched a new fund of $400 million to develop and acquire commercial office assets across India.
- Hyundai and its subsidiary Kia have invested US$300 million in Ola to develop EV ecosystem.
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- Naspers Ltd wants to spend around US$1 billion in India this year. It is reportedly in talks with Capital Float and payments security firm Wimbo to inject funds.
- Bounce, a two-wheeler rental startup, is in talks with B Capital Group, Facebook co-founder Eduardo Saverin’s venture fund, to raise around $50 million. The firm is also in talks with other investors from the US, Taiwan and Japan.
- Rebel Foods, earlier known as Faasos, has raised Rs.110 Crores in funding from Sequoia Capital, its existing partner.
- Mswipe, a mobile PoS company, has raised around Rs.220 Crores from its existing partners including Falcon Hedge and Eduardo Saverin.
- Acko General Insurance, an online insurance platform, has raised fresh funding of $65 million in a round led by Binny Bansal and a fund led by Kabir Misra, former managing partner of SoftBank.
- Benddit, a sales and marketing solutions platform, has raised US$250,000 in seed funding. Funds will be used to accelerate product development, expand team and marketing initiatives.
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- Oyo has announced to invest around $200 million in its India and South Asia business during 2019.
- Puig has invested Rs.100 Crores in Kama Ayurveda for its domestic and international expansion. Puig is a family owned, Barcelona based fashion and fragrance business house.
- Tencent and General Atlantic have infused a fresh funding of around Rs.80 Crores in Byju’s.
- Zinier, a field service automation solutions provider, has raised around Rs.154 Crores in a series B round of funding from Accel, Founders Fund, NGP Capital and others.
- Qiming Venture Partners, a Chinese venture capital firm, is reportedly set to lead a $15-20 million Series B round of funding in Pratilipi.
- True North is seeking more investment opportunities in the life and general insurance sectors. The PE firm bought a controlling stake in Max Bupa last week.
- Ola is in talks with Hyundai Motor for raising investment of around US$ 300 million. Hyundai had earlier lead Rs.100-crore funding round in Revv.
- Canadian fund manager CDPQ will invest Rs.1800 Crores in an NBFC company of Edelweiss group.
- Razorpay is in talks with Sequoia for raising fresh funding of $100 million. The deal may value the firm at around $450 million.
- ShareChat is in discussions with Tencent Holdings and others for raising around $200 million in funding at a valuation of $600-700 million.
- DailyNinja is in early talks to raise fresh funding of around $18-20 million.
- 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.
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