Business news India: Latest India business news headlines today 6 March 2021
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Here’s today business news, the latest business news India today 6 March 2021.
- Webscale, an e-commerce cloud company, has raised $26 million in a Series C round of funding led by BGV, STCAP Ventures and Mohr Davidow Ventures. The round also saw participation from Grotech Ventures.
- Singapore-based InsurTech platform has raised $9.4 million in a funding round led by CreditEase Fintech Investment Fund and Think Investments. A major part of the funding will be used for investment in its Indian affiliate, Symbo India Insurance. Its existing investors Integra Partners, Insignia Ventures, and AJ Capital also participated.
- DealShare has raised Rs.25 crores in debt funding from Innoven Capital, taking the total amount raised to date to Rs.267 crores.
- Questt, a school homework app, has raised Rs.9.6 crores in a seed round funding led by Chiratae Ventures, AET Fund, and some entrepreneurs including Rohit Bansal, Kunal Bahl, Ramakant Sharma, Pranay Gupta, and the founders of First Cheque, and Razorpay.
- Cashify, a re-commerce platform, selling and buying used smartphones and other electronic gadgets, has raised $15 million from Olympus Capital Asia.
- PhonePe has pledged to increase female representation in senior leadership roles, including directors and VP, to 25% by December 2021. Currently, there’s 16% female representation in these roles.
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- Blackstone Group is said to be in talks with Sify Technologies to acquire a minority stake in the firm.
- Tech Mahindra has partnered with ThoughtSpot, offering search and AI-driven analytics, to offer real-time analytics for enterprises around the globe.
- Web Werks has entered into a strategic relationship with Iron Mountain, which will invest US$150mn primary equity in the firm over the next two years.
- FarEye has acqui-hired PY Technologies, a logistics technology startup, to scale customer implementations.
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- PNB Housing Finance and Yes Bank shave entered into a strategic co-lending agreement to offer customized retail loans at competitive interest rates.
- Trifecta Capital has closed its second venture debt fund after having invested ₹900 crores in 38 companies. The firm raised Rs.1,025 crore against a target of Rs.1000 crores for the fund.
- A majority of lenders to Bhushan Power and Steel have voted in favour of the offer of JSW Steel to complete the transaction by transferring Rs.19,350 crores to an escrow account.
- Amazon India is launching a special storefront to highlight products made available by women-led small businesses.
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