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Tesla Raises $1.2 Billion, 20 Percent More Than Planned

19Mar By reutersNo Comments

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Tesla Raises $1.2 Billion, 20 Percent More Than Planned

Tesla said on Friday it had raised about $1.2 billion, roughly 20 percent more than it had planned, by selling common shares and convertible debt, ahead of the launch of the crucial Model 3 sedan. The company, led by Elon Musk, said it sold 1.3 million common shares at $262 apiece to raise $350 million and that it raised another $850 million though the sale of convertible senior notes due 2022. The electric car company said on Wednesday it planned to sell $250 million worth of stock and $750 million in notes. Tesla had been expected to raise capital since late last year, with the expectations gaining steam last month after Musk said the company could be "close to the edge" on cash needs. Musk had Tesla was considering a number of options, including raising capital, to reduce ri...

Jasper Infotech Invests 30 Crore in Freecharge

14Mar By NitishNo Comments

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Jasper Infotech Invests 30 Crore in Freecharge

Jasper Infotech which acquired Freecharge platform invested additional Rs 30 crore into the latter, according to documents filed with the registrar of companies. Jasper infotech also own and operate one of the leading e-commerce platform of India Snapdeal.com. An email sent to FreeCharge and Jasper spokespersons seeking comments on the latest development remain unanswered at the time of going to press. Earlier in report, Snapdeal is in talks such as PayPal, Paytm and PayU to sell FreeCharge. The deal size is somewhere around $300 million. Snapdeal acquired Freecharge for $400-450 million in a cash-and-stock deal in mid-2015.

Flipkart in Talks to Raise About $800 Million

12Mar By NitishNo Comments

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Flipkart in Talks to Raise About $800 Million

E-commerce major Flipkart is in advanced stage of discussions to raise about USD 800 million to further strengthen its operations in a bid to take head on the competition from American rival Amazon. The funding, however, would come at a much lower valuation of about USD 8-9 billion, sources close to the development said. The e-tailer had last raised funds in July 2015 at a valuation of USD 15 billion. The sources said that the fresh round would see participation from both existing and new investors. When contacted, a Flipkart spokesperson said: "As a company policy, we do not comment on market speculations". Till now, Flipkart is estimated to have raised over USD 3 billion with investments coming in from Tiger Global, DST Global, Steadview Capital and Accel Partners. However, t...

Startup Investment Firm K2 Global to Invest More in Paytm, Saavn

9Mar By NitishNo Comments

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Startup Investment Firm K2 Global to Invest More in Paytm, Saavn

Start-up investment firm K2 Global, backed by Indian and Asian billionaires, is looking to increase its stake in online mobile applications Paytm and Saavn, which are among start-ups with strong growth market strategies in India. "We are looking to invest more in Paytm and Saavn," said the Singapore-based investor Ozi Amanant, who leads K2 Global backed by Indian and Asian billionaires, institutional investors and family wealth management offices. K2 Global, which has built up stakes in Paytm and Saavn over in about two years, is raising another round of 284 million Singapore dollars, following on to the recently closed 257 million Singapore dollars . "We have a target to raise 1 billion Singapore dollars in the next two years for investments," Amanat said. K2 Global has pledge...

Blowhorn Raises Rs 25 Crore From IDG Ventures & Others

7Mar By AdityaNo Comments

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Blowhorn Raises Rs 25 Crore From IDG Ventures & Others

Intra-city logistics start-up, Blowhorn, has raised USD 3.65 million (about Rs 25 crore) from IDG Ventures India, Michael & Susan Dell Foundation and existing investors Draper Associates and Unitus Seed Fund. The company plans to utilise the proceeds from the Series A funding to expand operations to eight cities in the next 24 months, with over 25,000 daily active drivers, Blowhorn said in a statement. Founded in 2014 by Mithun Srivatsa and Nikhil Shivaprasad, Blowhorn offers a tech-enabled platform to connect customers to mini-truck owners, enabling intra-city, sub 2-tonne deliveries. The company has 50 full-time employees and is present in Mumbai, Bengaluru, Chennai and Hyderabad. "We have been able to leverage technology and operational innovation to emerge as a market leade...

Alibaba, SAIF Partners to Invest $200 Million in Paytm E-commerce Platform

3Mar By AnkitaNo Comments

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Alibaba, SAIF Partners to Invest $200 Million in Paytm E-commerce Platform

Chinese e-commerce major Alibaba, along with investment firm SAIF Partners, will pump in USD 200 million in Paytm's online marketplace unit. Alibaba Singapore E-Commerce Pvt Ltd will invest USD 177 million in Paytm E-Commerce Pvt Ltd, the demerged unit of digital payments company, One 97 Communications that operates under Paytm brand. The remaining amount will come from SAIF, an early investor in One 97, according to a filing with the Registrar of Companies. Post the investment, Alibaba Singapore E-Commerce will have a shareholding of 36.31 percent, while SAIF Partners India will own 4.66 percent in Paytm E-Commerce. Paytm declined to comment on the matter. This deal is expected to pave the way for the much-awaited entry of Alibaba into India, where the Chinese firm will go head-to-h...

1Mar By NitishNo Comments

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CreditMantri Raises $7.6 Million Funding From Quona Capital, Others

Online lending platform CreditMantri today said it has raised USD 7.6 million (about Rs 51.4 crore) in a Series B (second strategic round) funding from Quona Capital and others. The funding round was led by Accion Frontier Inclusion Fund, managed by Quona Capital along with Newid Capital and existing investors Elevar Equity, IDG Partners and Accion Venture Lab, CreditMantri said in a release. CreditMantri will use the funds to grow its user base, strengthen product proposition and build the team, it added. Veda Corporate Advisors was the bankers to the transaction. "The funds raised will help us deliver a complete suite of products and services to give the Indian consumer better choice and make credit truly possible," Ranjit Punja, co-founder and CEO of CreditMantri, said. The ...

1Mar By AnkitaNo Comments

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Inter-city Cab Rental Platform MyTaxiIndia Raises Funding

Inter-city cab rental platform MyTaxiIndia has raised an undisclosed amount from ZGC Global, a Dubai-based investor to expand its operations. MyTaxiIndia, which claims to be present in 200 cities, is looking at rolling out its offerings in the North-East as well as tier I and II cities in states like Bihar, Uttar Pradesh, Madhya Pradesh and Chhattisgarh. However, no financial details of the investment were divulged. The company plans to raise its next round of funding of about USD 5 million in the next four months. Stating that the Dubai-based company will also participate in the Series A round, MyTaxiIndia Co-Founder Anshuman Mihir said: "We are discussing the valuation with several venture capital firms... We would be raising up to USD 5 million". In July 2016, MyTaxiIndia ha...

28Feb By PriyankaNo Comments

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Hiring Platform Belong Raises $10 Million in a Series B Funding By Sequoia India

Predictive outbound hiring platform provider Belong today announced it has raised USD 10 million in a Series B funding (second strategic round) led by Sequoia Capital India. Existing investor Matrix Partners India also participated in the round and the company said it will use the funds to accelerate product development, expand sales and support operations, and hire new talent across engineering, data science, enterprise sales and customer success. Gautam Mago, Managing Director at Sequoia Capital India Advisors, has joined the Belong Board of Directors, which includes Tarun Davda, Managing Director at Matrix Partners India, and Raju Reddy, Founder and ex-CEO of Sierra Atlantic. Founded in 2014, Belong provides outbound hiring Software-as-a-Service (SaaS) solution to industry leaders...

28Feb By NitishNo Comments

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Couponhaat Receives Pre-Series A Funding From a Private European Investor

New Delhi, February 28, 2016: Couponhaat, a Delhi based start-up and India's leading e-commerce company which provides best coupons and deals for online shoppers receives funding from a private European Investor. The undisclosed amount of funding is Couponhaat’s first Pre-Series A funding. Axel Wawrina, an investor based out of Europe has invested in the company. The fund-raising drive is in sync with its expansion plans and increasing the team size with an aim to achieve more milestones. Since the time of its very inception in the month of April 2015, Couponhaat has managed to cater to the growing demands of its huge consumer-base for best discounted coupons and deals by being self-funded so far. Couponhaat has raised its graph tremendously and attracted over 1 million hits on the websi...

Canadian Pension Fund Manager Eyes Logistics Investment in India

25Feb By NitishNo Comments

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Canadian Pension Fund Manager Eyes Logistics Investment in India

The real estate arm of Canada's second-largest pension fund manager is looking at India's logistics sector following the announcement this week of its first investment in the country for more than six years, President Daniel Fournier said on Friday. Ivanhoe Cambridge, the real estate unit of Caisse de depot et placement du Quebec, announced a USD 250 million residential investment in India on Thursday, the first in the country since Fournier was put in charge of the division in 2010. "We're starting with multi-residential opportunities, so let's see where it takes us," Fournier said in an interview on the sidelines of a media conference at the Caisse in Montreal. "Logistics ... could be the next one." India's real estate logistics sector, which includes warehouses, distribution...

22Feb By reutersNo Comments

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Bicycle Sharing Startup Mobike Gets Funding From Temasek, Others

Chinese bicycle-sharing startup Mobike said on Monday it has raised funding in a new round led by Singapore state investor Temasek Holdings [TEM.UL] and hedge fund Hillhouse Capital, bringing its total new funding in 2017 to more than $300 million. The Shanghai-founded startup said last month it raised $215 million from a range of investors including Tencent Holdings Ltd, Warburg Pincus LLC and Chinese travel firm Ctrip.com International Ltd. Mobike also announced an undisclosed investment from Foxconn last month, in a bid to double the number of bikes it produced last year to 10 million in 2017. A spokesman for the startup declined to confirm the amount of the most recent investment. Mobike has not shared its valuation. Mobike allows users to find, ride and pay for company bic...