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SoftBank Considers Investment of Over $1Bn in WeWork: Report

31Jan By reutersNo Comments

FUNDING

SoftBank Considers Investment of Over $1Bn in WeWork: Report

SoftBank Group is considering an investment of more than $1 billion in office-space sharing start-up WeWork, the Wall Street Journal reported, citing people familiar with the matter. The deal could be among the first from SoftBank's $100 billion technology fund, the report said. SoftBank and WeWork declined to comment. WeWork is currently valued at nearly $17 billion and SoftBank's valuation of the company is expected to be at or above this figure, the publication said, citing sources. Citing sources, it also said SoftBank had earlier discussed an investment in WeWork before pulling out and added that talks may not result in a deal this time. Some SoftBank executives have reportedly raised questions whether the WeWork deal is overvalued, saying a company in the business of offi...

26Jan By PriyankaNo Comments

FUNDING

Online School Aggregator Platform SchoolForSure.com Raises Funding Led by Foodpanda Co-founder Rohit Chadda

New Delhi based online school admissions platform SchoolForSure.com has announced raising an undisclosed amount in angel funding from private investors amongst which is Rohit Chadda, co-founder Foodpanda & founder, PayLo, it said in a statement. SchoolForSure.com which operates a single platform for filling master application form for all schools enables parents to apply to multiple schools in a single click without having to visit each school. The young startup will use the proceeds to expand its team and increase its reach to more geographies. The platform was launched late last year and is presently operational in Delhi and allows nursery admissions to over 100 schools, the firm said in a statement. Rishi Shukla, co-founder & CEO of SchoolForSure.com said, “We are trying ...

Mobme Looking to Raise Upto Rs 130 Crore

19Jan By NitishNo Comments

FUNDING

Mobme Looking to Raise Upto Rs 130 Crore

Telecom and banking technologies start-up Mobme said it is looking to raise up to Rs 130 crore in the latter part of 2017 to invest in research and development and expansion to international geographies. "We are looking to raise Rs 100-130 crore after June, primarily for our digital banking and customer experience analytics businesses," its chief executive Sathya Kalyanasundaram told reporters here. He said up to USD 10 million or 70 per cent of the money that will be raised by the decade-old company will be invested in research and development efforts, including conversational banking, voice technology and artificial intelligence products like chat BOTS. Kalyanasundaram said the company is cash-positive right now and delivering profits every year, but it needs to do the investmen...

Data Analytics Firm AppsFlyer Raises $56 Million From Qumra Capital, 3 others

19Jan By NitishNo Comments

FUNDING

Data Analytics Firm AppsFlyer Raises $56 Million From Qumra Capital, 3 others

AppsFlyer, a marketing data analytics firm, has raised USD 56 million (about Rs 381 crore) in latest round of funding. This was led by new investors Qumra Capital, Goldman Sachs Private Capital Investing, Deutsche Telekom Capital Partners (DTCP) and Pitango Growth. The existing investors Magma Venture Partners, Pitango Venture Capital and Eight Roads Ventures also participated in the round. The series C financing brings the company's total funding to USD 84 million. "Having grown revenues by 500 per cent and staff from 40 to 240 people across 12 global offices in two years, the company will invest in the enhancement of its products to help even more marketers measure every engagement with their target audiences," AppsFlyer said in a statement. Qumra Capital partner Boaz Dinte has jo...

9Jan By NitishNo Comments

FUNDING

Bangalore Based Health Care Startup MobiDent Raised Pre Series A Funding

Bangalore-based healthcare startup MobiDent has raised Pre Series A funding from New York-based DanGold Investment Corp. The funds will be utilised to roll out home dental services in 12 cities across India. The company also plans to hire 250 dentists and invest in strengthening digital technology, marketing and sales with the help of these funds. In August 2016, the company secured funding from IIM-Ahmedabad’s Centre for Innovation incubation and Entrepreneurship (CIIE). Speaking on the development, MobiDent’s Vivek Madappa said “The time is right for disruptive innovation using digital technology and portable equipments.” “The investment will enable us to enhance our technology platform, strengthen marketing & sales and hire 250 dentists across the country. The funds will also...

Hero Future Energies Raises $125 Million From IFC

6Jan By AnkitaNo Comments

FUNDING

Hero Future Energies Raises $125 Million From IFC

Renewable energy firm Hero Future Energies announced raising USD 125 million from International Finance Corp (IFC) for expanding its clean power generation capacities. IFC is picking up equity stake in the company at an investment of USD 125 million, Chairman and Managing Director of Hero Future Energies, the renewable energy arm of Hero Group, Rahul Munjal told reporters here. However, Munjal did not disclose the quantum of minority equity stake to be given to IFC. He said the investment will help the company expand its renewable energy capacity, provide jobs and facilitate private sector development in renewable energy. IFC, together with IFC Global Infrastructure Fund, a private equity fund managed by IFC Asset Management Company, will invest USD 125 million in equity, enabling ...

Pragun Khaitan Plans to Invest 30 Crores in AI Based Startup

5Jan By NitishNo Comments

FUNDING

Pragun Khaitan Plans to Invest 30 Crores in AI Based Startup

Pragun Khaitan, vice-chairman and managing director of Jindal Aluminium Ltd (JAL), the largest aluminium extruder in India, has recently announced his plan to invest in AI focused start-ups. JAL has always been at the cutting edge of technology since its inception in the year 1968. Over the past two years, the positive upsurge in start-ups focussed on AI based technology has encouraged JAL to fund start-ups focused on developing technologies that automate and improve the efficiency of manufacturing operations. Today the emergence of technology based start-ups is the result of the dynamism and the entrepreneurial spirit that exists in India, making it an excellent opportunity for entrepreneurs as well as for investors. There is tremendous scope for deriving benefits from the technolo...

Anand Chandrasekaran Invested in Fashion E-commerce Portal Fynd

5Jan By NitishNo Comments

FUNDING

Anand Chandrasekaran Invested in Fashion E-commerce Portal Fynd

Fashion e-commerce portal Fynd has raised an undisclosed amount of funding from Facebook executive Anand Chandrasekaran. Arvind Sports Lifestyle CEO Rajiv Mehta and Livspace co-founder Ramakant Sharm also participated in this round. Fynd optimises delivery time for online shoppers by sourcing products from the outlets nearest to the customer. It sells fashion apparel, bags and accessories on its platform. "Our major purpose of raising the round wasn't to gain more capital but to partner with stakeholders who can actually help us with their experiences and expertise.” Last year, Fynd completed preliminary testing of its business model and was scaling up business from Mumbai to nationwide, said Fynd’s, co-founder Harsh Shah. "Around the same time, Anand, Ramakant, and Rajiv amongst...

Everstone Invests USD 35mn in OmniActive Health Technologies

2Jan By AdityaNo Comments

FUNDING

Everstone Invests USD 35mn in OmniActive Health Technologies

Private equity firm Everstone Group has invested USD 35 million in city-based nutraceutical company - OmniActive Health Technologies. "The investment of USD 35 million by Everstone will further accelerate the growth of OmniActive in the fast-expanding nutraceuticals space," the firms said a joint statement issued here today. The deal is Everstones third in the healthcare and wellness sector in less than a year, it said. OmniActive supplies naturally sourced ingredients for eye health, weight management and heart health to global nutraceutical companies that provide food supplements and nutritional fortification, and has strong presence in the US. "OmniActive is now working to achieve similar success in Europe and Asia," the release said. The Everstone investment ? which give...

30Dec By NitishNo Comments

FUNDING

Fitness App HealthifyMe Raises $1 Million Funding

Fitness app HealthifyMe has raised $1 million (Rs 6.7 crores) from Dubai-based investor Neelesh Bhatnagar whose company NB Ventures has been actively investing in Indian startups, the company said in a statement. Founded in 2012 by Tushar Vashisht, Mathew Cherian and Sachin Shenoy, HealthifyMe claims to be the first app to introduce calorie tracking of Indian dishes. The company delivers measurable results on eating habits, fitness, and weight. With over 200 employees, it has physical presence in Bangalore, Delhi, Mumbai and Chennai within India. The app has crossed the one million download mark on the Google PlayStore, and is also available on the App Store. “I am keen on investing in emerging digital first Indian startups that have the ability to expand internationally with an a...

China Tech Giant LeEco in Talks on $1.4 Billion Funding

29Dec By reutersNo Comments

CHINA, FUNDING

China Tech Giant LeEco in Talks on $1.4 Billion Funding

Cash-strapped Chinese technology conglomerate LeEco is in talks on securing a 10 billion yuan (USD1.4 billion) deal with an unnamed strategic investor, its listed unit said. Leshi Internet Information and Technology said in a filing to the stock exchange late Wednesday that its parent company had signed a framework agreement with the investor and the two sides were still discussing the final details. It did not disclose the identity of the investor, but the China Business News cited a source familiar with the situation as saying that it was an insurance company. LeEco has been expanding aggressively in a range of businesses including online entertainment, electric and driverless cars and smartphones, but the firm's billionaire chief executive Jia Yueting warned staff last month that ...

27Dec By PriyankaNo Comments

FUNDING

Videos Streaming Platform Dekkho Raises USD 1.2 million Seed Funding

Videos streaming platform Dekkho has raised USD 1.2 million in a seed funding round from seven marquee angel investors. However, the company hasn’t disclosed the names of the investors. “We are looking to revolutionise the way entertainment is consumed and delivered in India and create India’s first social video network, where users are closely connected to their favourite content creators. Indian consumers are far from paying for online content. We aim to create a sustainable, three-way ecosystem for content producers, advertisers, and users through a free-to-use service.” , said co-founder Tanay Desai. Dekkho is a free over-the-top (OTT) content provider that consumes less internet bandwidth and also offers offline viewing facility. The company claims to have over 12,000 hours of p...