funding | Pixr8 News

Swiggy Raises $80 Million From Naspers, Existing Investors

30May By PriyankaNo Comments

FUNDING

Swiggy Raises $80 Million From Naspers, Existing Investors

Online food delivery platform Swiggy today said it has raised USD 80 million (over Rs 517 crore) in series E funding led by global internet group and technology investor Naspers. The funding saw participation from other existing investors Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners. The funds will help Swiggy introduce new products and service offerings to enhance its customer experience, Swiggy said in a statement. Naspers has also invested into the parent company of Swiggy's rival foodpanada, Delivery Hero. The food ordering platform also said it plans to double its technology headcount and increase investments across core engineering, automation, data sciences, machine learning and personalisation. Besides, th...

Snapdeal Raises 113 Crore Emergency Fund From Nexus Ventures and Founders

30May By PriyankaNo Comments

FUNDING

Snapdeal Raises 113 Crore Emergency Fund From Nexus Ventures and Founders

Snapdeal has raised over Rs 113 crore from early investor Nexus Venture Partners and founders Kunal Bahl and Rohit Bansal, amid talks of a potential sale of the e-commerce firm to larger rival Flipkart. NVP pumped in Rs 96.26 crore in the round, while Bahl and Bansal contributed Rs 8.45 crore each, according to regulatory filing with the Ministry of Corporate Affairs. The shares were allotted on March 10, 2017, it added. Bahl and Bansal were allotted 1,300 Series J preference shares, while Nexus was given 14,810 preference shares, the filings showed. It is not clear how long the fresh financing round will help Snapdeal in continuing operations as it faces intense competition from rivals Flipkart and Amazon. E-mails sent to NVP and Snapdeal remained unanswered. The cash-strapped firm,...

Mutual Fund Investment Platform Raises Seed Fund

29May By Press Trust of IndiaNo Comments

FUNDING

Mutual Fund Investment Platform Raises Seed Fund

Nivesh.com, a mass market mutual fund investment platform, today said it has raised angel funding from a group of entrepreneur turned investors. The investors in this round include Rahul Gupta, CEO of Right Global Infosolutions and former president at private equity firm Sonoma Management Partners, Sandeep Shroff, CEO of Silicon Valley-based MyStartUpCFO.com and former head of investor relations at Infosys & others. "The amount raised will be used for network expansion, reaching out to more customers and for improving the investment experience," said Anurag Garg, founder and chief executive, Providential Advisory Services, the Noida-based company which owns Nivesh.com. The company, however, did not disclose the amount it has raised. The platform will adopt an omni channel a...

Online Petition Platform Change.org Raises $30 Million From Linkedin Co-founder, Bill gates & Others

28May By AdityaNo Comments

FUNDING

Online Petition Platform Change.org Raises $30 Million From Linkedin Co-founder, Bill gates & Others

Linkedin Co-founder Reid Hoffman along with Bill Gates & others lead latest funding round of more than $30 million in change.org. The news was first disclosed by Reid Hoffman on his Linkedin account. Other existing Change.org investors include Richard Branson, Ashton Kutcher, and the rapper Nas. Change.org performs functions that are key to a healthy democracy functions that were once mostly the domain of daily newspapers and other traditional news outlets. It informs its users about issues and developments that are of local, national, and even global relevance. It gives a megaphone to marginalized and disenfranchised communities. Its users and petition starters hold powerful interests accountable. Founded by Ben Rattray in 2007, the platform has attracted nearly 200 million u...

Indian Government in Talks With SoftBank For Funding 2 Lakh e-Buses

27May By Press Trust of IndiaNo Comments

News

Indian Government in Talks With SoftBank For Funding 2 Lakh e-Buses

To promote electric vehicles on a mass scale, the government is holding initial talks with Japanese investment firm SoftBank for low interest funding of 2 lakh electric buses for public transport, Union Minister Nitin Gadkari said here today. India wants to cut down on a ballooning Rs 7 lakh crore crude import bill, the minister said, adding electric buses and vehicles along with ethanol and other green fuel could be the solution. "Promoting electric vehicles is priority of our government. We want electric buses, autorickshaws and other vehicles to ply in the country. We are engaged in initial talks with SoftBank for loans at low interest rate for a green project. We want to introduce 2 lakh electric buses for public transport," Road Transport and Highways Minister Gadkari said. ...

IFC Invests $3 Million in AI Focused Fund Pi Ventures

26May By Press Trust of IndiaNo Comments

FUNDING

IFC Invests $3 Million in AI Focused Fund Pi Ventures

International Finance Corporation (IFC), a part of the World Bank Group, is investing USD 3mn in pi Ventures maiden fund. The amount will be used by the early stage venture fund to invest in companies leveraging technologies such as applied artificial intelligence (AI), machine learning and IoT across a range of sectors, it said in a statement here. IFC is making investments through the IFC Startup Catalyst programme, which aims to build local ecosystems to drive innovation and entrepreneurship. IFC's venture capital investments in India include online grocery major BigBasket, edutech startup Byju's, Portea, a company providing affordable home care and BlackBuck, a leading player in elogistics.

InnerWave Ventures Looking To to Invest in 18-20 Startups in Next Three Years

26May By PriyankaNo Comments

FUNDING

InnerWave Ventures Looking To to Invest in 18-20 Startups in Next Three Years

A community of early-stage angel investors InnerWave Ventures today said it is planning to invest in 18-20 start-ups in next three years in the range of Rs 1-1.5 crore. Currently, InnerWave Ventures, which is managed by corporate advisory firm InnerWave, consists of 32 angel investors which are looking to help start-ups in need of additional capital. "A lot of the angels have built up their own businesses and may be sold them or are in a semi-retired stage and they want to pass on the knowledge that theyve picked up," InnerWave Ventures co-founder Varun Dhingra said. InnerWave Ventures said it will also be adding more angel investors to its network who are looking to invest in pre- screened start-ups. "The investment can come from a single angel or a group and it can range anyw...

25May By AdityaNo Comments

FUNDING

Genext Students Raises $5,80,000 in Series A Funding

Tutoring platform Genext Students today said it has raised USD 5,80,000 (around Rs 3.75 crore) in its pre-Series A funding round from undisclosed investors. The fresh capital would primarily be used to expand presence to new cities. Genext Students aims to leverage the freshly raised capital to strengthen its tech backbone and expand the services to new cities such as Bengaluru, Lucknow, Jaipur, Hyderabad and Chennai, it said in a statement. Launched in February 2013, the platform provides private tutoring with technology-enabled learning for CBSE, ICSE and state boards. Ali Asgar Kagzi, co-founder and director of Genext Students said, "With our fresh round of funds, we aim to expand our services to more cities across a greater number of geographies and make use of technology i...

24May By PriyankaNo Comments

FUNDING

Box8 Raises 7 Crores Additional Funding From Series B 50 Crores

BOX8, one of the India's fastest growing food delivery startups has raised Rs. 7 Cr in venture debt funding from Trifecta Capital, in addition to Rs. 50 crores raised in series B round raised from IIFL Seed Ventures Fund & Mayfield. Started by two IIT graduates, Amit Raj and Anshul Gupta, BOX8 is a full stack online food delivery player that specializes in preparing and delivering delicious Indian meals across Mumbai, Pune and Bengaluru. It serves around 14000 meals everyday through a network of 65 plus stores. "Venture debt is an excellent proposition; since it provides access to debt where traditional bank lending doesn't participate, and does that without diluting equity, unlike venture capital. This will help us maintain a balance in our financial structure and at the same ti...

22May By PriyankaNo Comments

FUNDING

Delhi Based Logistics Firm Delhivery Raises $30 Million Funding

Logistics company Delhivery has received USD 30 million (about Rs 200 crore) funding from Chinese conglomerate Fosun International. This additional investment is a part of the bigger equity financing round where The Carlyle Group pumped in USD 100 mn to pick up a minority stake in the firm, according to a statement. The investment in Delhivery is reported to be among the largest in the tech-focused logistics space. It is a pointer to a likely boom in the logistics sector as the government moves ahead with the introduction of GST from July 1 and on the back of robust online retail sales. The Gurugram-based company was launched in 2011 by Sahil Barua, Mohit Tandon, and Suraj Saharan with an aim to disrupt the logistics supply chain market. Later, they were joined by Bhavesh Mangl...

Lighthouse Invested 51 Crore in Stylam Industries

22May By Press Trust of IndiaNo Comments

FUNDING

Lighthouse Invested 51 Crore in Stylam Industries

Lighthouse, a middle market private equity firm focused on growth investments in India's consumer sector today announced that funds affiliated with the firm have made an investment of INR 510 million in Stylam Industries, one of India's leading laminate manufacturers. The investment will be used to accelerate Stylam's expansion in the fast-growing domestic market. Incorporated in 1991, Stylam designs, manufactures and markets a wide range of laminates for residential, commercial and industrial purposes. For FY16, the company clocked revenues of approximately INR 2.5 billion and has demonstrated a revenue CAGR of over 22% over the past five years. It is in the process of commissioning a new manufacturing facility that will double its production capacity. Jagdish Gupta, Managing Direct...

Softbank-Saudi Tech Fund Becomes World’s Biggest With $93 Billion of Capital

21May By reutersNo Comments

FUNDING

Softbank-Saudi Tech Fund Becomes World’s Biggest With $93 Billion of Capital

The world's largest private equity fund, backed by Japan's Softbank Group and Saudi Arabia's main sovereign wealth fund, said on Saturday it had raised over $93 billion to invest in technology sectors such as artificial intelligence and robotics. "The next stage of the Information Revolution is under way, and building the businesses that will make this possible will require unprecedented large-scale, long-term investment," the Softbank Vision Fund said in a statement. Japanese billionaire Masayoshi Son, chairman of Softbank, a telecommunications and tech investment group, revealed plans for the fund last October and since then it has obtained commitments from some of the world's most deep-pocketed investors. In addition to Softbank and Saudi Arabia's Public Investment Fund (PIF), the ...