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Softbank invests Rs 2,800 cr in Indiabulls Housing Fin’s associate OakNorth

8Feb By Press Trust of IndiaNo Comments

FUNDING

Softbank invests Rs 2,800 cr in Indiabulls Housing Fin’s associate OakNorth

Indiabulls Housing Finance Friday said Japan's Softbank is investing Rs 2,800 crore of equity capital in its associate OakNorth, a commercial bank in the UK. Indiabulls Housing Finance said OakNorth is the fastest growing new bank in Europe, leveraging technology tools for fast and efficient disbursals to the small and medium-sized enterprises (SME) sector. The bank has no physical branches. "The current loan book of OakNorth is Rs 21,390 crore and the bank has no delinquencies as on date," the company added. OakNorth was seeded by Indiabulls Housing in October 2015 with Rs 650 crore to own a 40 per cent controlling stake in the bank. Last year, Indiabulls sold a part of its holding to the government of Singapore for Rs 900 crore. Shares of Indiabulls Housing Finance were tr...

Reddit Raising Funds from Tencent, Valuation could soar up to $3 Billion

6Feb By NitishNo Comments

FUNDING

Reddit Raising Funds from Tencent, Valuation could soar up to $3 Billion

USA based social news aggregation and discussion website Reddit is raising funds between $150 to $300 million from Tencent, as per the news reported by Techcrunch. Chinese tech giant Tencent is leading the Series D round at a $2.7 billion pre-money valuation and the post-money valuation could reach close to $3 billion. Reddit is famous between internet users for its AMA, link sharing news etc. They have 330 million monthly active users and 150,000 Subreddits. Reddit Numbers Having 350 employees team, Reddit reports that its video views touched 1.4 billion views per month and the revenue reach up to $100 million. Reddit also has a 22 percent increase in engagement and 30 percent rise in total views in 2018. The latest funding round by Chinese giant Tencent will help ...

Autonomous Truck Startup Ike Raises $52 Million

5Feb By AnkitaNo Comments

FUNDING

Autonomous Truck Startup Ike Raises $52 Million

Ike, the autonomous trucking startup has raised $52 million in a Series A funding round led by Bain Capital Ventures, Redpoint Ventures, Fontinalis Partners, Basis Set Ventures, and Neo. The news was published by Ike team on its blog. The autonomous trucking startup founded by veterans of Apple, Google, and Uber Advanced Technologies Group’s self-driving truck program. The funding will use to increase the team and technology to scale the product. Founded by Jur van den Berg, Nancy Sun, and Alden Woodrow, Ike has created, puts us on the path to building a safe and reliable self-driving trucking system at scale. Trucking has never been at a more critical moment. A shortage of drivers, new regulations, growing accident rates, the rise of e-commerce these issues are rapidly...

2Feb By AdityaNo Comments

FUNDING

Getty Images Raises $100 million Funding

U.S. photo agency Getty Images Inc said it raises another $100 million investment from Koch Equity Development LLC. Koch Equity Development LLC is the acquisition and investment subsidiary of Koch Industries. Based in Wichita, Kansas, Koch Industries, Inc. is one of the largest private companies in America with estimated annual revenues as high as $115 billion, according to Forbes. Earlier, Koch Equity Development invested $500 million in Getty Images. Founded in 1995 by Mark Getty and Jonathan Klein, Getty Images, Inc. is a visual media company, with headquarters in Seattle, Washington, United States. It is a supplier of stock images, editorial photography, video and music for business and consumers with an archive of over 200 million assets Earlier in September, Getty famil...

30Jan By AdityaNo Comments

FUNDING

Essentium Raises $22.2 Million Series A Funding

Texas-based Essentium, a leading 3D printing solutions for industrial additive manufacturing raises $22.2 million in Series A funding led by BASF Venture Capital with participation from Materialise, Genesis Park, and previous seed round investors. BASF Venture Capital Investment Manager, Sven Thate, will join the Essentium board. The funding round will be used to scale manufacturing, engineering, international distribution, sales and marketing operations to meet market demand for the recently introduced Essentium High Speed Extrusion (HSE) Platform. The fact that the Essentium Series A round of financing is one of the highest in the history of additive manufacturing illustrates the role the company will play in transitioning the category from hype to implementation. The multi-...

Rapper Snoop Dogg Invested in Swedish Payment Firm Klarna

25Jan By PriyankaNo Comments

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Rapper Snoop Dogg Invested in Swedish Payment Firm Klarna

Calvin Broadus better known as Snoop Dogg has invested in an online payments firm, Klarna. Klarna, a Swedish based firm provides payment solutions for consumers and merchants. The company valued at $2.25 billion dollars in 2015, making it one of Europe’s largest fintech unicorns. "I've been looking for an opportunity to expand my tech investment portfolio to Europe and seeing the way Klarna operates and how they challenge the status quo, I think it’s a match made in heaven. I’m very excited about this partnership,” Snoop Dogg said in a press release. Klarna was founded in Sweden in 2005 and has expanded to 14 countries, with more than 100,000 merchants using its payment solutions for online and in-store purchases. It was valued at $2.25 billion (roughly Rs. 15,400 crores) in 201...

Flipkart founder Sachin Bansal Invested $21 Million in Ola

14Jan By AdityaNo Comments

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Flipkart founder Sachin Bansal Invested $21 Million in Ola

Flipkart co-founder Sachin Bansal has pumped in about Rs 150 crore in ride-hailing platform Ola, though the flipkart founder committed 650 crore in Ola. According to documents filed with the Corporate Affairs Ministry."... 70,588 fully and compulsorily convertible, cumulative 'Series J' Preference Shares' having face value of Rs 10 having the rights, privileges and preferences... is hereby allotted at a subscription price of Rs 21,250," the documents showed. This translates into an investment of about Rs 650 crore by Bansal, who left Flipkart after the US retail giant Walmart picked up 77 per cent stake in the e-commerce company for $16 billion. The resolution was passed at a board meeting of ANI Technologies, the entity that runs Ola, on January 12, according to the documents. ...

WeWork Enters into Food Business, Invests $32 Million in Larid Superfood

13Jan By NitishNo Comments

FUNDING

WeWork Enters into Food Business, Invests $32 Million in Larid Superfood

Laird Superfood, maker of assorted superfood products, secured $32 million in a private funding round that included WeWork as an investor. This latest round of funding will support an increase in product development, acquisitions and significant growth at Laird Superfood's Sisters, Ore based headquarters. "We are incredibly grateful to our investors and the community for their continued support. Our expansion will enable us to grow our product offerings, make room for even greater innovation and double down on our presence in the industry. This growth will add a great number of jobs in Sisters and the surrounding communities, across a variety of departments, and allow us to continue to stimulate our local economy," said Paul Hodge, CEO and co-founder of Laird Superfood. Laird Hamilt...

11Jan By PriyankaNo Comments

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Co-living Startup Grexter secured $1.5 million Pre-Series A Funding

Bengaluru, January 11, 2019: Venture Catalysts has invested $1.5 million in India based startup Grexter, one of the leading tech-based, hassle-free rental accommodation providing platforms for students and young professionals in the country. Grexter has raised the capital as part of its Pre-Series A funding round and it aims to leverage the funds for enhancing the inventory it offers as well as to ramp up its technology architecture. Grexter provides state of the art co-living spaces to those looking for hassle-free and cost-effective community living options. Problems such as hefty brokerage fees, low-quality homes, sky-high rents and deposits, and picky homeowners are all eliminated when one moves into a Grexter property. Its USP is that it offers fully-furnished state...

11Jan By PriyankaNo Comments

FUNDING

Ola Raises $74 million Funding, Pips Oyo as a 2nd Most valuable startup in India

India's leading taxi aggregator Ola raises $74 million funding from existing investor Steadview Capital. After this funding round Ola pips OYO a hotel aggregator startup and become India's No.2 most valuable startups. Ola is now only behind digital payments service firm Paytm (One97 Communications Pvt. Ltd). After $74 million in fresh funding round, Ola, India’s leading cab-hailing service valued at $5.7 billion. Oyo Rooms, which was valued at nearly $5 billion after it raised $1 Billion from SoftBank Group Corp & Others. Before got acquired by Walmart last year, the leading e-commerce giant Flipkart was the most-valuable Indian startup (close to $16 billion) for the longest time. Last January, Ola had raised $1.1 billion in fresh capital at a valuation of $3.5-4 bill...

10Jan By PriyankaNo Comments

FUNDING

ePayLater Raises pre-Series A funding from ICICI Bank & Others

Mumbai, January 10, 2019: ePayLater, the leading innovator in the digital credit market, is beginning 2019 on a high note. It has closed its Pre-Series A funding round which was led by ICICI Bank, the second largest private bank in India and also saw participation from GMO Global Fintech Fund, the investment fund of the internet conglomerate in Japan along with family offices like Parekh and Patni and foreign investors from the UK. With this capital infusion, ePayLater is better poised to ramp up its technology architecture as well as strengthen its product. The company had earlier raised USD 2 million during its angel round of funding. ePayLater has quickly made its mark in India as one of the top digital credit solutions, providing interest-free credit terms for a 14-day period thr...

WeWork Raises $2 billion after SoftBank cuts $20 billion Planned Investment

9Jan By AdityaNo Comments

FUNDING

WeWork Raises $2 billion after SoftBank cuts $20 billion Planned Investment

World's leading co-working space provider WeWork raises $2 billion from Softbank in a deal that is billions of dollars below what WeWork hoped. The initial amount that WeWork and Softbank discussed was $20 billion funding to fund the growth of the company and buy out existing shareholders. With the recent funding round, Softbank Group Corp’s invested total $10.4 billion in WeWork including $4.4 billion in 2017 and $6 billion in 2018 and 2019. The initial plan was to invest $10 billion in SoftBank money to fund WeWork’s growth plans and use another $10 billion to buy out employees and other existing investors, according to a person familiar with the matter. That proposal would have given SoftBank majority control of WeWork. Reducing the investment leaves WeWork with $1 billio...