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IT Company Viithiisys Technologies Acquires a Delhi-based Startup

3Nov By Gauri SinghNo Comments

ACQUISITION

IT Company Viithiisys Technologies Acquires a Delhi-based Startup

A boutique IT consulting and services company called Viithiisys Technologies has reportedly acquired an on-demand application development startup Actiwate. The particular deal will help the company to expand its product portfolio and list of clients. Based in Chandigarh and founded by Gaurav Saini, Viithiisys didn't disclose financial details of the deal. “This acquisition will help us build a robust and experience-oriented product with the potency to give voice to the people in the visitor management platform,” the CEO said. On the other hand, Actiwate was founded in 2016 and is operated by Delhi-based Partiko Services. The company has developed about 60 software products for various multinational companies as well as startups. The company claims to be profitable with more than 20...

2Nov By Gauri SinghNo Comments

FUNDING

Ad Analytics Startup Edo Raises $12 Million in Series A Funding

US-based ad analytics startup Edo has raised funds amounting to $12 million in Series A funding round. The particular round was led by Breyer Capital. Along with this, Vista Equity co-founders Robert Smith and Brian Sheth participated in the round, as did WGI Group. “For more than a decade I’ve watched the data science talent arbitrage transform industries from finance to defense, from transportation to commerce,” Breyer said. “We needed someone to bring these capabilities to bear on the systemic inefficiencies and methodological shortcomings of measurement and analytics in media and advertising.” On the customer side, Edo is already working with ESPN, Turner, NBCUniversal and Warner Bros. I wondered whether some of the TV networks might have been worried about what Edo would reveal a...

IT Major TCS Acquires a London-based Digital Design Company

2Nov By Gauri SinghNo Comments

ACQUISITION

IT Major TCS Acquires a London-based Digital Design Company

The global leader in IT services TCS Consultancy has reportedly acquired a London-based digital design company known as W12 Studios. The financial details of the deal have not been disclosed. This marks as the company’s first acquisition in about four years. With a proper strategy and not following the path of its rivals, TCS stated that it would only look at acquisitions for truly niche technologies, preferring to build the talent in-house. On the other hand, Cognizant, Infosys and Wipro have made a number of digital acquisitions over the last few years. Also, this acquisition signifies that TCS is open to acquisitions instead of only building technologies and talent in-house. Prior to this, the IT major last invested $50 million in a joint venture with Mitsubishi Corp. in Japan in ...

Petcare Startup Captain Zack Secures $1.5 million Funds

1Nov By Gauri SinghNo Comments

FUNDING

Petcare Startup Captain Zack Secures $1.5 million Funds

A pet care grooming startup called Captain Zack has raised an amount of $1.5 million in Pre-Series A round. The particular funding round was led by industrialists Kushal Desai and Chaitanya Desai through their family office. The company is owned by EM Personal Care and is based out of Mumbai. It is planning to use the funds raised in this round in marketing and brand awareness. Along with this, backers like Naval Bir Kumar – erstwhile head at IDFC Asset Management & Standard Chartered Asset Management, Sunil Agarwal, owner - entrepreneur at Joy Cosmetics and experienced investment banker Ketan Shah, who manages Panini Advisors LLP also participated in this round. Mohit Lalvani, MD & Founder of EM Personal Care stated that this industry currently is not so popular in India...

31Oct By Gauri SinghNo Comments

FUNDING

Financial Research Firm Sentieo Raises $19 Million in Series A Funding

Financial research platform Sentieo that is based in San Francisco and Delhi has secured funds amounting to $19 million (about Rs 140 crore) in its Series A round of equity funding. This particular funding round was led by growth equity firm Centana Growth Partners. Along with this, the three-year-old company counts a host of leading corporate executives and investment managers among its backers. The company’s existing investors also participated in this round. “We are incredibly excited to join them as they grow into a major player in the financial research technology industry, a market that is long overdue for the kind of innovation that Sentieo is providing,” Eric Byunn, partner at Centana Growth partners said. The company is planning to use the funds so raised to expand global gro...

Payment Solution AGS Transact Gets SEBI Nod for IPO

30Oct By Gauri SinghNo Comments

Market

Payment Solution AGS Transact Gets SEBI Nod for IPO

AGS Transact Technologies, a payment solutions provider has received SEBI’s official nod to launch an initial public offering (IPO). The company was recently backed by private equity firms TPG Growth and Actis until a few months ago. The Securities and Exchange Board of India (SEBI) issued final observations to AGS Transact’s IPO proposal on 26 October. AGS had filed its draft red herring prospectus (DRHP) with SEBI in mid-August. With this nod, SEBI, as of now, has approved 62 IPO proposals in2018. In 2017, the regulatory authority cleared 46 IPO proposals. AGS’ Rs 1,000-crore IPO comprises fresh shares worth Rs 400 crore apart from equity of promoter Ravi Goyal and other individual shareholders worth Rs 600 crore. Also, AGS Transact may raise Rs 150 crore in pre-IPO placement as...

VC Fund Sixth Sense Ventures Invests in an Edutech Platform

29Oct By Gauri SinghNo Comments

News

VC Fund Sixth Sense Ventures Invests in an Edutech Platform

Early stage consumer-focused venture capital fund Sixth Sense Ventures has reportedly invested an amount that has not been revealed in edutech firm Eupheus Learning. With this, the total investment by the fund in Eupheus is estimated at between Rs 15-18 crore. Sixth Sense now owns about 44% in the edu-tech firm, making it one of the largest stake ownership deals for the venture capital firm so far. Eupheus Learning is a curriculum based content platform. It was founded in May 2017 and was the first investment from Sixth Sense's second fund made earlier this year. The platform aims to bridge the gap between in-school and at-home learning by providing end-to-end education solutions to students. The company has collaborated with publishers and edu-tech firms to provide differentiated...

Indiabulls Ventures Secures $210 Million From Foreign Funds

25Oct By Gauri SinghNo Comments

FUNDING

Indiabulls Ventures Secures $210 Million From Foreign Funds

Indiabulls Ventures Ltd, a financial services company has secured an amount of Rs 1,539.20 crore ($210 million) in a funding round. The particular round was led by four foreign institutional investors, including a private equity firm. The basic purpose of the funding round is to infuse long-term capital into two of its subsidiaries. Indiabulls Ventures will make a preferential allotment of compulsorily convertible debentures to Tamarind Capital Pte, Hong Kong-based hedge fund Steadview Capital, US-based venture capital fund ABG Capital and DF International Partners. The company is planning to use these funds to capitalize on lending arm Indiabulls Consumer Finance Ltd and Indiabulls Asset Reconstruction Co Ltd. The debentures have been allotted at a 35% premium to the company's share...

California-based Oh My Green Raised $20 million

18Oct By Gauri SinghNo Comments

FUNDING

California-based Oh My Green Raised $20 million

In a fresh funding round, California-based B2B company Oh My Green has raised $20 million. This particular funding round was led by Initialized Capital, Powerplant Ventures, Backed VC, ZhenFund, Talis Capital and the Stanford StartX Fund. With this investment, the company plans to expand throughout the U.S. and gradually launch overseas. The basic motive behind this step is to bring healthier foods to offices around the U.S. The startup offers Nashville nutritional snacks and meals to businesses in San Francisco, Los Angeles, Seattle, Chicago, Austin, Denver, Boston, New York City and Nashville. The company stocks office snack pantries which is a staple at technology startups and caters events, manages cafes and provides wellness programming. Founded in 2014 by Michael Heinrich...

Grocery Delivery Startup Instacart Secures $600 million

17Oct By Gauri SinghNo Comments

FUNDING

Grocery Delivery Startup Instacart Secures $600 million

A startup that delivers grocery called Instacart has reportedly raised funds amounting to $600 million in its latest funding round. The funds have been basically raised to fight against its rivals as it competes against players like Amazon and valuing the company at $7.6 billion. The company is based in San-Francisco-based and has been steadily growing in the last few years, helped by partnerships more than 300 retailers including Walmart, Aldi and Kroger. This latest financing round was led by investment firm D1 Capital Partners which raised Instacart's funding till date to more than $1.6 billion. The company has plans to use these funds to further expand in North America and also invest in marketing and hiring. The company said it now has about $1.2 billion in cash to spend on ...

Zomato to Raise $210 Million from Alibaba’s Online Payment Firm

15Oct By Gauri SinghNo Comments

FUNDING

Zomato to Raise $210 Million from Alibaba’s Online Payment Firm

The food delivery and restaurant discovery major Zomato has reportedly entered into a deal to raise funds amounting to $210 million (roughly Rs. 886 crores) from Alibaba's online payment platform Alipay Singapore. This funding news has come a few weeks after the food-ordering platform announced the acquisition of TongueStun, a Bengaluru-based startup that serves corporate catering space in six Indian cities. "[W]e would like to bring to your knowledge that Zomato has signed a definitive agreement to undertake a primary fund raise of approximately $210 million from Alipay Singapore Holding Pte Ltd (which is an existing shareholder of Zomato) and/ or any of its affiliates, and upon the closing of this fund raise," the regulatory filing mentioned. Prior to this, the company secured $150 ...

GoZefo Raises Rs 21 Crore from a Stage-agnostic Investment Firm

13Oct By Gauri SinghNo Comments

FUNDING

GoZefo Raises Rs 21 Crore from a Stage-agnostic Investment Firm

Online marketplace for second-hand goods GoZefo has reportedly raised an amount of around Rs 21 crore (close to $3 million) in a fresh round of funding. The particular funding round was led by stage-agnostic investment firm FJ Labs. FJ Labs is a New York-based company co-founded by Fabrice Grinda who is one of the founders of online classifieds firm OLX. The company has put in around Rs 10 crore in this financing round. The other existing backers that participated in this round include Sequoia Capital and Helion Venture Partners. “The OLX co-founder is a very relevant investor for us. It was more of a chance to get him on board. It is strategic capital for us,” GoZefo co-founder Rohit Ramasubramanian said. Prior to this, FJ Labs has invested in a number of companies including Chine...