Monday, May 6

FUNDING

Startup Funding News: Get the latest news on startup funding, small business funding, investor management and many more about funding on Pixr8.

Ofo, Bike Sharing Startup To Raise $1 Bn From SoftBank Group
29Jul By reutersNo Comments
FUNDING

Ofo, Bike Sharing Startup To Raise $1 Bn From SoftBank Group

Chinese startup Ofo is in talks to raise $1 billion in a new funding round led by Japan's SoftBank Group, people familiar with the matter said, in what would be the largest fund-raising in the nation's bike-sharing business. Didi Chuxing, China's biggest ride-hailing firm which counts SoftBank as an investor, could join Ofo's new fundraising round，the sources told Reuters. Ofo could reach a valuation of close to $3 billion after the funding, one of the sources said. Ofo is seeking fresh capital less than a month after raising more than $700 million from investors led by Alibaba Group and two others, following rival Mobike, which in June announced a $600 million investment led by Tencent Holdings. The latest Ofo investment plan has not been finalised, the sources said, who declined to ...
Read More
Digital Health Platform 1mg Raises $15 Mn Series C Funding
27Jul By AnkitaNo Comments
FUNDING

Digital Health Platform 1mg Raises $15 Mn Series C Funding

E-pharmacy startup 1mg Technologies has raised $15 million funding in Series C from a clutch of investors, led by global healthcare focused fund HBM Healthcare Investments. This round of investment also saw participation from existing investors- Sequoia Capital, Maverick Capital Ventures, Omidyar Network and Kae Capital. The funds raised will be used by 1mg to launch predictive healthcare and corporate wellness products. “1mg was HBM’s first investment in a digital health platform in India and we are very encouraged about the prospects of the company, given the tremendous progress across all dimensions over the past year,” said Andreas Wicki, chief executive officer of Switzerland-based HBM Healthcare. HBM had first invested in 1mg in May 2016 as a part of a top-up round following ...
Read More
Goldman Sachs Puts $25 Mn In Budget Hotel Aggregator FabHotels
26Jul By AnkitaNo Comments
FUNDING

Goldman Sachs Puts $25 Mn In Budget Hotel Aggregator FabHotels

Budget Hotels Chain FabHotels has recently raised an amount of $25 Mn in a Series B funding round led by Goldman Sachs, an American multinational finance company, that backed the likes of Uber and Spotify. Started in 2014 by Vaibhav Aggarwal and Adarsh Manpuria, FabHotels is a branded budget hotel aggregator wherein it partners with smaller hotels for providing  standardized services to budget travelers. (more…)
Read More
BYJU’S Bags An Undisclosed Amount Of Funding From Tencent Holdings Ltd
25Jul By RishabhNo Comments
FUNDING

BYJU’S Bags An Undisclosed Amount Of Funding From Tencent Holdings Ltd

Indian edu-tech startup BYJU'S has once again made headlines for raising an undisclosed amount of funding from China’s Tencent Holdings Ltd. “BYJU’S has emerged as the clear leader in the Indian education-tech sector. We share BYJU’S mission of transforming education by creating personalised learning experiences for students. We are excited to be partnering with Byju on this exciting journey” said Hongwei Chen, Executive Director of Investment and M&A at Tencent. The funding will be utilized to accelerate BYJU'S product development for new markets and enable its growth through acquisitions. “We are excited to have Tencent on board with us. This makes our strong investor portfolio even more diverse,” said Byju Raveendran, founder and CEO, Byju’s. Tenccent is a Hong Kong Stock Exchan...
Read More
ANI Technologies, Ola Parent May See Some Investment From Microsoft
25Jul By RishabhNo Comments
FUNDING

ANI Technologies, Ola Parent May See Some Investment From Microsoft

American Multinational giant Microsoft may invest some money for a small stake in ANI Technologies Pvt Ltd, the company that runs Ola, in a deal where this ride hailing service will switch from Amazon Web Services (AWS) to Microsoft's Azure Cloud Platform. “The talks with Ola are in very early stages. More than the money, it is more about Nadella’s vision of partnering with more and more large technology companies in India and establish Azure as service of preference. Microsoft is likely to invest in Ola but a term sheet is yet to be issued,” one of the two persons cited above said on condition of anonymity. Ola is already in the middle of fund-raise and is currently valued around $3.5 Bn, and is the third most valued startups in the country. Ola has been in constant battle with Uber in ...
Read More
Uber’s Rival Grab Set To Dominate In Southeast After Largest Ever Fundraising
24Jul By RishabhNo Comments
FUNDING

Uber’s Rival Grab Set To Dominate In Southeast After Largest Ever Fundraising

The Singapore-based ride-hailing service is getting $2 billion worth of investment from China-based ride-hail player Didi Chuxing and Softbank. The startup also expects to raise an additional $500 million from other investors as part of this round. Provided it closes the additional sum, the company’s valuation would top $6 billion, according to a source familiar with Grab’s fundraising. The $2.5 billion round is reportedly the largest ever single financing round in Southeast Asia and demonstrates just how ferociously the powers that be are battling for ride-hailing dominance in that part of the world. The Singapore-headquartered company says it has a Southeast Asia market share of 95 percent in third-party taxi-hailing and 71 percent in private vehicle hailing. It also provides car...
Read More
Ola Invests Rs 100 Cr In Ola Fleet Technologies
23Jul By Press Trust of IndiaNo Comments
FUNDING

Ola Invests Rs 100 Cr In Ola Fleet Technologies

Cab aggregator Ola has invested Rs 100 crore in its car leasing subsidiary, Ola Fleet Technologies. The investment comes at a time when the homegrown firm is locked in an intense battle with US-based Uber for leadership in the Indian market. The proposal for Ola investing Rs 100 crore into Ola Fleet Technologies was accepted by the board of the car leasing arm last month, as per documents filed with the Corporate Affairs Ministry.  The SoftBank-backed Ola had invested Rs 50 crore in the unit in February this year. Ola did not reply to an emailed query in this regard. In 2015, Ola had announced setting up of a captive leasing subsidiary to finance cars to be added to its platform and had announced an investment of Rs 5,000 crore. Through Ola Fleet Technologies, the Bengaluru-b...
Read More
Pune-Based Vayana Network Bags $4 Mn From IDG, Jungle Ventures In Series A Round
17Jul By AdityaNo Comments
FUNDING

Pune-Based Vayana Network Bags $4 Mn From IDG, Jungle Ventures In Series A Round

Pune-based digital trade financing company Vayana Network Services Pvt. Ltd has raised $4 million ( Rs 26 crore) in a Series A round from IDG Ventures India Advisors Pvt. Ltd and Jungle Ventures Pte. Ltd. “This funding comes at an exciting time with GST driving the digital invoicing ecosystem in India and in the backdrop of increasing velocity for trade-based financing led by third-party platforms, globally. We plan on offering several value-added services for our clients to help them take advantage of the trade data,” said R N Iyer, founder and CEO of the company. Vayana Network provides a digital platform for short-term trade financing which helps corporates to set up programs with financial institutions to help their sellers or buyers to finance purchases or sales. Vayana Network h...
Read More
Reliance Capital Receives 378 Crore From Nippon Life Insurance
14Jul By RishabhNo Comments
FUNDING

Reliance Capital Receives 378 Crore From Nippon Life Insurance

Reliance Capital Ltd., the holding company of Reliance Nippon Life Asset Management Limited (RNAM), has today received Rs. 378 crore from Nippon Life Insurance, a Fortune 500 company and one of the largest life insurers in the world, upon completion of the transaction for increasing NLI’s equity stake in RNAM to 49%. Reliance Capital will book capital gains on this final transaction in Q3 ending September 30, 2017. RNAM is the largest asset manager in India in terms of AUM, managing Rs. 3,58,059 Crore (US$ 55.2 Billion) as of March 31st, 2017, across mutual funds, pension funds, managed accounts and offshore funds. RNAM offers a well-rounded portfolio of products that meet varying investor requirements and constantly endeavors to launch innovative products and customer service ini...
Read More