Poonawalla To Target Growth-Stage Firms With Rs. 1,000 Cr Fund; The Poonawalla Vision Fund, with a capital of $1 billion, was established by the chief executive of Serum Institute of India with regulatory approval. An application for registration as a category-II alternative investment fund was submitted to the Securities and Exchange Board of India (SEBI) on September 29. (AIF). The […]
Bira91 to Buy Beverage Chain Beer Cafe: The Beer Café is set to be acquired by beer maker Bira 91 as it eyes a stronger play and offerings in pubs & taprooms market. It presents a huge opportunity for Bira 91 to leverage its infrastructure, experience, and expansion capabilities to further refine The Beer Café’s strong operating model and better […]
Edtech firm Lido Learning files for insolvency: Ronnie Screwvala’s Unilazer Ventures-backed Quality Tutorials Pvt. Ltd, which runs edtech platform Lido Learning, has filed for insolvency, according to the company’s latest filings with the corporate affairs ministry. In a meeting early this week, Lido’s board passed a special resolution to file for the corporate insolvency resolution process under section 10 of the […]
Sequoia Capital pares stake in Zomato: Sequoia Capital India has pared its stake in Zomato Ltd by selling shares in the open market, joining Tiger Global, Uber and Moore Strategic Ventures among investors who have either fully or partially sold their holdings in the online food delivery aggregator in recent weeks. Sequioa, which first invested in Zomato in 2013, sold […]
Jai Kisan snags $50 mn in first close of Series B at $200-240 mn valn: Jai Kisan, a rural fintech start-up, has raised capital to the amount of USD 50 million (c. 398.5 cr) in a mix of equity and debt in the first close of its ongoing Series B round. The investors invested funds at a pre-money valuation of […]
PhysicsWallah joins unicorn club with $100 mn maiden fundraise: Edtech startup PhysicsWallah (PW) has raised USD 100 million (around INR 777 crore) in Series A funding from Westbridge and GSV Ventures at hitting a unicorn valuation in its maiden fundraise. With this PW has become India’s 101th unicorn. The latest capital raised will be used for business expansion, branding, and opening […]
Twixor raises capital from Axilor Ventures, and others in Series A round: Twixor, the digital process automation platform operated by Twixor Pte Ltd has announced that it has bagged $2.4 million (INR 18 Cr) in its Series A funding round from Season Two Ventures, Axilor Ventures and The Chennai Angels. The digital process automation platform was developed by the IIT […]
Sources of Elon Musk’s funding offer to buy Twitter for $44 billion: After the Social networking platform, Twitter Inc agreed to Elon Musk’s “best and final” offer of USD 44 billion. Musk increased his financing commitment to USD 27.25 billion, from USD 21 billion – including the new USD 7.14 billion funding from Oracle Corp’s co-founder Larry Ellison, Saudi investor […]
Axis Bank to acquire Citi’s consumer business in India for $1.6 bn: One of the leading private sector banks in India, Axis Bank has agreed to acquire Citibank’s consumer business in India. The deal will be undertaken for INR 12,325 crore ($1.62 billion), in an all-cash deal, which includes Citi’s credit cards, retail banking, wealth management, and consumer loan business. Presently, Citibank […]
Bharti Airtel to buy Vodafone’s equity stake in Indus Tower: Telecom operator Bharti Airtel Ltd has agreed to buy Vodafone Group’s 4.7% stake in India’s largest cell tower firm Indus Towers Ltd. Vodafone Group is looking to sell its entire stake in Indus Towers Ltd. Currently, Vodafone holds about 28% in Indus Towers while that of Bharti Airtel is close […]