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US-Based Y Combinator Backs Indian Rental Startup ZiffyHomes

4Aug By Gauri SinghNo Comments

FUNDING

US-Based Y Combinator Backs Indian Rental Startup ZiffyHomes

Home rental service startup ZiffyHomes which is based in Gurugram has secured an amount of $120,000 from a US-based startup incubator Y Combinator. This investment by Y Combinator has been made for its summer cohort 2018. It had earlier made an investment in one more Indian startup for the same. It was last month that the US incubator invested $120,000 in a blockchain-focussed startup known as Kyte.ai. The company is gearing up for its Demo day scheduled in August in the valley in which these companies will be publicly displayed. “Demo Day at YC is the most effective way of raising funds to fuel the future growth of a company and we look forward to the same for ZiffyHomes,” said Sanchal Ranjan, co-founder of ZiffyHomes. Founded in 2015 by Saurabh Sinha, Sanchal Ranjan, and Salil Aga...

Gaja Capital invests $25M in Educational Initiatives

27Jul By AnkitaNo Comments

FUNDING

Gaja Capital invests $25M in Educational Initiatives

One of the Mid-market private equity firm Gaja Capital has invested $25 million (about ₹172 crore) in Ahmedabad- and Bengaluru-based educational technology company Educational Initiatives, it has marked its eighth investment from its third fund. managing partner of Gaja Capital, Gopal Jain informed about the transaction but did not share further investment details. 2018 has been an active year for The Gaja Capital. The PE firm manages assets of about $500 million across its three investment vehicles, having already recorded two strong exits — TeamLease and RBL Bank — in April and June, respectively. Both investments were made from its second fund — the $180 million Gaja-II. Mr Jian said, “Education is core to our investment strategy and we are long-term believers in the K-12 opportunit...

This Indian Bank Becomes First to Use Facebook Messenger For Mutual Fund Transactions

11Jul By NitishNo Comments

Market

This Indian Bank Becomes First to Use Facebook Messenger For Mutual Fund Transactions

India's largest private sector bank HDFC becomes the first Indian bank which offer mutual fund transactions through Facebook Messenger. HDFC securities, a subsidiary of HDFC Bank launch a theme called "The Pace of Innovation" which is structured to innovate and provide intuitive and relevant digital solutions to customers and this effort, is in line with the vision. This particular feature, apart from mutual fund investments, facilitates a quick overview of total portfolio holding, getting the latest stock quotes and opening an account. ALSO READ: After Tata Group, HDFC Crosses Market Cap of Rs 10 Trillion Here's a guide to how this works: -Go to Facebook Messenger and search for hdfcsec.Arya -Can open a trading account -Post login, one can complete MF transactio...

Tata Motors Invests First Time in a Startup, Acquires 26% Equity

10Jul By PriyankaNo Comments

ACQUISITION

Tata Motors Invests First Time in a Startup, Acquires 26% Equity

India's biggest automobile company Tata Motors acquired 26% stakes in a tech-based freight aggregator TruckEasy. This is the first investment in a startup being done through Tata Motors Finance Holdings, a wholly-owned subsidiary of Tata Motors. However, the company did not disclose the amount. The Bengaluru based startup Truckeasy will use this investment to expand its footprint in other cities. Bengaluru based logistics company TruckEasy registered as a Loginomics Technologies Solutions Ltd, was formed in 2015 providing service for transporting needs of businesses within the city. As per the information on the website, TruckEasy transport anything within Bangalore using Light commercial vehicles. You can rent Tata Ace, Super Ace at the click of a button. Sign up and book mini...

Skoda to Invest Around $1 Billion in India

5Jul By Gauri SinghNo Comments

BUSINESS

Skoda to Invest Around $1 Billion in India

Volkswagen Group, which is the parent company of Skoda India Auto has plans to invest an amount of $1.16 billion (Rs 79 billion) in the Indian operations of Skoda under a programme named 'India 2.0'. The basic purpose of this investment is to develop fresh products and improve localization. Along with this, it will involve the creation of an engineering centre, capacity enhancement, R&D, new technologies and increase production. According to the reports, the investment programme – ‘India 2.0’ will take place between 2019 and 2021. Skoda Auto's Chief Executive Bernhard Maier said, "Experts predict that in the next few years India is going to become the third-largest automotive market worldwide. With our 'India 2.0' project we are now creating the right conditions for sustainable gro...

Popular Startups That Secured Funds From Ratan Tata

2Jul By Gauri SinghNo Comments

FUNDING

Popular Startups That Secured Funds From Ratan Tata

Indian industrialist and investor, Ratan Naval Tata who is well known as the former chairman of the popular conglomerate Tata Sons (one of the two holding companies of Tata group). Ratan Tata has done a commendable job in terms of investment activities and has been taking a keen interest in the Indian Startup ecosystem. With the help of his private investment company RNT Associates, Tata has marked his footsteps on various startups in the country. Though most of his investments are undisclosed amounts, it is a big honor for startups that are successful in bringing Ratan Tata on board. Also, you might be thrilled to know that Tata has been honored with the Padma Vibhushan in 2008 and Padma Bhushan in 2000, the second and third highest civilian honors awarded by the Government of India. ...

29Jun By Gauri SinghNo Comments

FUNDING

Amazon To Be a Part Of Shuttl’s Fresh Funding Round

The mobile-based minibus service platform, Shuttl is eyeing to raise an amount of $11 million (around Rs 76 crore) in a new round of funding from a group of investors along with the e-commerce giant Amazon. The investors that are expected to invest in this funding round are existing investors Sequoia Capital, Lightspeed Venture Partners and Times Internet Limited. Along with this, another fresh investor may include Dentsu Ventures which is a Japan-based corporate venture fund. Apart from this, it is also being said that Ambiga Subramanian, co-founder of data analytics MuSigma, will also invest according to her personal capacity. With the help of the investment, the company plans to expand and improve its customer base as the bus services apps have struggled to scale up and have of...

29Jun By Gauri SinghNo Comments

FUNDING

Cashify Raises $12 Million In Series C Funding Round

Cashify, an e-commerce company for used smartphones and gadgets has raised an amount of $12 million in Series C round of funding. The investors that led the funding were CDH Investments and MorningSide Group, along with Chinese re-commerce company AiHuiShou associating as a strategic investor. Apart from this, the existing investors were Bessemer Ventures and Shunwei Capital. Lately, in June, the company had raised funds from its strategic investor, AiHuiShou which then became its partner for the purpose of international expansion. Through this investment, Cashify aims to double its transaction volume to 200K by the end of the financial year 2019. Cashify will use the capital to boost up its operational capability and technology needs to grow the business’ footprint in India and g...

American Digital Payment Giant May Invest in BillDesk at Valuation of 1.5 -2 Bn

25Jun By NitishNo Comments

News

American Digital Payment Giant May Invest in BillDesk at Valuation of 1.5 -2 Bn

U.S. based digital payment giant Visa is in the final stage of discussion to invest over $250 million in the Mumbai headquartered payments gateway company BillDesk. The investment is likely to value BillDesk at around $1.5-2 billion, according to people familiar with the matter. The investment will give the coveted unicorn status to the eight-year-old Fintech startup. Sources claim that BillDesk’s management has decided to call off discussion on strategic sale and has now settled for raising more funds. Sources further claimed that the funding will be a combination of primary and secondary transactions. “The deal is in the final stages of completion, it’s the valuation which is being negotiated,” a person on the condition of anonymity said. He added that the management is trying v...

19Jun By Gauri SinghNo Comments

News

Lifestyle Pvt Ltd Pours In Crores To Open New Stores

The Indian retail fashion brand Lifestyle is reportedly investing about Rs 140 crore for the purpose of expansion during the current financial year. The company will open new stores, the investment of which is estimated to be Rs 8 crore to Rs 10 crore per store. “We are planning to open 12 to 14 stores during the current fiscal,” said Srinivasa Rao, senior vice-president of Lifestyle Pvt. Ltd. “The investment per store will be about Rs. 8 crores to Rs. 10 crores,” he added. Founded in 1999, the company, at present, has around 70 stores all over the country. The retail firm offers a variety of national and international brands It now plans to open more stores and the funds for the same would be met from internal accruals. According to the senior vice-president, the company would be ope...

General Atlantic Acquires ICICI Venture’s Stake in KIMS

16Jun By Gauri SinghNo Comments

ACQUISITION

General Atlantic Acquires ICICI Venture’s Stake in KIMS

India’s largest private sector fund ICICI Venture has sold off 30% of its stake in hospital chain Krishna Institute of Medical Sciences to its competitor General Atlantic worth Rs 850 crore. Through this deal, the company is expected to make close to four-fold returns on its initial investment in four years. The valuation of the Hyderabad based hospital chain has been raised to around Rs 2,700 crore from Rs 850 crore in 2014. In 2014, ICICI Venture had invested about Rs 220 crore in the hospital chain, which had around 500 beds. The hospital chain KIMS, which had received the SEBI approval for a public offering had to postpone its share sale plan because of the regulatory changes and pricing uncertainty. KIMS has stated that the regulatory challenges were one of the reasons for the a...

SeaLink Capital Invests Rs 200 Cr In a Healthcare Firm

16Jun By Gauri SinghNo Comments

FUNDING

SeaLink Capital Invests Rs 200 Cr In a Healthcare Firm

The mid-market investment company called SeaLink Capital Partners has invested Rs 200 crore in a women and children healthcare firm known as Surya Children’s Medicare Pvt. Ltd. The transaction included an investment of growth capital into Surya and a purchase of the stake held by the company’s first external healthcare investor OrbiMed. A few months ago, in April it was reported that SeaLink was in advanced stage of investing in Surya Medicare. On the other hand, Surya had also raised Rs 54 crore from OrbiMed against the sale of a minority stake in September 2013. In our country, there is a considerable undersupply of paediatric hospital beds and other medicare facilities. And the need for both preventive and curative paediatric care is a necessary thing. Heramb R Hajarnavis, man...