FUNDING | Pixr8 News

21Jun By Lavina TolaniNo Comments

FUNDING

Sanjeev Kapoor’s appliance brand Wonderchef raises Rs. 700 Cr Funding

Wonderchef, Renowned Chef Sanjeev Kapoor's promoted appliance brand has raised Rs. 70 crore from a mid-market private equity firm, Amicus Capital Partners which valued the firm at Rs. 700 crores. The appliance brand came to inception in 2009 through founders Sanjeev Kapoor and former Sodexo Pass India MD Ravi Saxena. It primarily deals with selling premium quality kitchenware appliances, cookware and bakeware under the Wonderchef brand. Mahesh Parasuraman, co-founder of Amicus Capital said, Wonderchef has been able to build a strong brand in the cookware and kitchen appliance category within a short period of time. We are committed to helping the company emerge into a clear market leader in the next few years. Notably, the recent funding marks third investment round raised by the co...

20Jun By Lavina TolaniNo Comments

FUNDING

Micro Lending Platform SMECorner raises $7 Mn Funding from Capital First

Digital Micro-Lending Platform SMECorner has raised around $7 million ( Rs. 47.5 crores) from NBFC Capital First Ltd and a clutch of investors including Accion Ventures. The capital raised is a mix of debt and equity with 25 crores in debt and Rs. 22.5 crore in equity. Post the investment, Capital First will own a 14.2% stake in SMECorner. As informed by the NBFC in its stock exchange filing, the deal is aimed at sealing a partnership with Digikredit for loan orientation. It is backed by Singapore sovereign wealth fund GIC and private equity firm Warburg Pincus. SMECorner which helps SME's to access loans from banks will be using the capital to scale its loan book by expanding to offline branches and honing its platform. Samir Bhatia, founder and chief executive at SM...

19Jun By Lavina TolaniNo Comments

FUNDING

IndiQube raises $15 Mn Funding from WestBridge Capital

IndiQube, a workspace solutions provider has raised USD 15 million in its Series A funding round led by WestBridge Capital. The investment also witnessed participation of Ashish Gupta, co-founder of Helion Ventures. Notably, the funding marks the first external round for the company where the funds shall be used for company expansion to cities like Mumbai and Chennai, increasing its workforce and brand creation, informed the founders, Rishi Das and Meghna Agarwal. Rishi Das, further added We already have about 15,000 seats operational, which will be increased to 25,000 by the end of the fiscal. By then, we will also expand to Pune and Hyderabad. We are also looking at setting up presence in Mumbai and Chennai. IndiQube currently in-houses 1.4 million sq ft of workspace and has some...

19Jun By Gauri SinghNo Comments

FUNDING

Elucidata Corp. Raises Seed Funding To Modify Drug Discovery

A data science company called Elucidata Corporation announced that it raised a seed funding amounting to $1.7 million carried out by Hyperplane Venture Capital. Along with Hyperplane Venture, other angel investors were a part of the seed funding round as well. The backed company has already started working well and has gained profitability. Elucidata Corporation plans to utilize these funds in the expansion process and to transform drug discovery. It wants to grow its team and operations in New Delhi and also introduce some fresh discovery tools for the process of discovering drugs. The company is planning to grow and expand extensively. “The potential for Elucidata’s platform to improve the lives of countless people — from those suffering from diabetes to a wide range of other dise...

Ed Tech Platform Unacademy Eyeing To Raise $30 Mn

18Jun By Lavina TolaniNo Comments

FUNDING

Ed Tech Platform Unacademy Eyeing To Raise $30 Mn

Unacademy, the popular online learning technology platform is gearing up towards raising a series-C funding round of $25-30 million led by Sequoia Capital along with another clutch of investors. The investment round will bring company's valuation close to around $100 million. Pixr8 had earlier reported Unacademy raising an INR 75 crores Series B round in September 2017 led by Sequoia Capital and Saif Partners along with Nexus Venture Partners and Blume Ventures. The Bengaluru-based startup is now India’s largest educational platform, helped over 300,000 students prepare to crack competitive examinations through over 2,400 online lessons, and specialized courses. It has an impressive board of educators on board ranging from influencers like Dr Kiran Bedi to teachers in smaller town...

Google to Invest $500 Million in Chinese E-commerce Giant

18Jun By Gauri SinghNo Comments

FUNDING

Google to Invest $500 Million in Chinese E-commerce Giant

The biggest multinational tech company Google announced on Monday that it will invest an amount of $500 million in Chinese second largest e-commerce platform called JD.com. Both the companies have mentioned this funding as an association that will help in the promotion of JD.com products on Google’s shopping service. In return for the funds, Google will receive more than 27 million newly issued Class A ordinary shares of JD.com at an issue price of $20.29 per share. This would also be helpful for the Chinese company to expand its existence beyond China and Southeast Asia to other markets in the US and Europe. "This partnership with Google opens up a broad range of possibilities to offer a superior retail experience to consumers throughout the world," stated Jianwen Liao, JD.com's chief...

18Jun By Lavina TolaniNo Comments

FUNDING

Recommerce Platform Cashify raises Funding, pacts with China’s AiHuiShou

Cashify, a Gurugram based online marketplace for used smartphones has partnered with Chinese recommerce firm AiHuiShou as a strategic investor and partner in order to reinforce its international expansion. Though the actual financial details of the deal have not been disclosed by the company, sources have cited that the collaboration is a part of the latest funding round for Cashify. While the partnership will help Cashify leverage AiHuiShiu's technology, it will also help to bring operational efficiencies in its business as the platform is eyeing to expand across international markets like the Middle East and Indonesia by next year. Cashify is backed by Blume Ventures and Shunwei Capital and works with many offline as well as online channels including Amazon and Flipkart. &nbs...

16Jun By AdityaNo Comments

FUNDING

Startup India Registered Food Processing Startup Raises $300K Funding

Mumbai based Everyday Gourmet Kitchen Foods startup raises USD 300k Seed funding from an individual Pradyumna Kokil. The company EGK focusses primarily on onions and its by-products, along with onion processing. Currently, EGK sells 30 metric tonnes of their finished product monthly which translates to about 150 Metric Tonnes of raw onions which are being processed every month. With the factory upgrade, production capacity will be close to 100 Metric Tonnes per month and there are plans to open up the domestic as well as international markets where the company has seen tremendous demand. The company CEO also stated that on the backend, EGK Foods is setting up a bigger factory and backward integrating with farmers to assure them guaranteed buyback of goods produced at a fair price ...

SeaLink Capital Invests Rs 200 Cr In a Healthcare Firm

16Jun By Gauri SinghNo Comments

FUNDING

SeaLink Capital Invests Rs 200 Cr In a Healthcare Firm

The mid-market investment company called SeaLink Capital Partners has invested Rs 200 crore in a women and children healthcare firm known as Surya Children’s Medicare Pvt. Ltd. The transaction included an investment of growth capital into Surya and a purchase of the stake held by the company’s first external healthcare investor OrbiMed. A few months ago, in April it was reported that SeaLink was in advanced stage of investing in Surya Medicare. On the other hand, Surya had also raised Rs 54 crore from OrbiMed against the sale of a minority stake in September 2013. In our country, there is a considerable undersupply of paediatric hospital beds and other medicare facilities. And the need for both preventive and curative paediatric care is a necessary thing. Heramb R Hajarnavis, man...

Helix Investment Backs Network Intelligence For Expansion

16Jun By Gauri SinghNo Comments

FUNDING

Helix Investment Backs Network Intelligence For Expansion

The cybersecurity service provider, Network Intelligence has raise funds amounting to Rs 33 crore from a non-public fairness agency known as Helix Investments. After the completion of this funding round, the company valuation has crossed Rs 155 crore. The company has plans to utilize these funds for product development and expanding operations abroad to the US and Europe. The security company has been growing and expanding extensively over the past few years and is looking to sustain a compound annual growth rate (CAGR) of 40-50% in the near future. The CEO of the company Kanwal K Mookhey said, “The cybersecurity market is booming, and we want to continue to be well-positioned to meet the demand. Helix Investments is committed to supporting our opportunity in cybersecurity services, wh...

SoftBank Corp. To Invest Billions In Indian Solar Power Project

15Jun By Gauri SinghNo Comments

FUNDING

SoftBank Corp. To Invest Billions In Indian Solar Power Project

Japanese holding company, Softbank Group Corporation is determined to invest funds amounting to $60 billion to $100 billion in a solar power project in India. According to the reports, the funds being invested in the project are supposedly raised by the Softbank from the Saudi Arabia’s government. Saudi Arabia is the biggest investor in the Softbank’s Vision Fund, which was backed by an amount of $93 billion last year. After all the arrangements and preparations for the deal are done, both the parties that are Softbank and Indian government will make an official announcement for the same. Softbank was initially started as a telecom firm but it now has handed in a number of different areas, including e-commerce, finance, broadband, marketing, and more. The company has taken on an a...

14Jun By Lavina TolaniNo Comments

FUNDING

Mutual Fund Marketplace Nivesh.com raises Rs 3 Cr Seed Funding

Nivesh.com, a mutual fund marketplace has raised a seed funding of Rs. 3 crore through LetsVenture along with Google India MD Rajan Ananadan, former Infosys Head Sales Basab Pradhan and others. The startup has customers across 200 cities and partners over 15 cities and is backed by a clutch of prominent investors that include Debasish Hota, CEO at CompuGain Corporation, Vivek Khare, Advisor Corporate Development at Naukri.com, Windorse Capital and LetsVenture LLC. Anurag Garg, CEO and founder at Nivesh.com said, This investment further cements our belief in the business model. We are witnessing extremely good response from our target audience and working on expanding our geographical footprints. While enriching the user experience, we will also look at strengthening our distribution...