RIL arm to invest ₹300 cr in robotics co:
Reliance Retail Ventures Ltd, the retail unit of Reliance Industries Ltd, is likely to acquire a minority stake in warehouse robotics company Addverb Technologies Pvt. Ltd for around ₹300 crore. If the deal goes through, it will value Addverb Technologies at ₹1,590-1,660 crore. The company claims its products help companies improve space utilization in warehouses and factories by leveraging robotics and warehouse automation. It caters to industries such as e-commerce, health, aviation, retail, grocery, fashion, third-party logistics, pharmaceuticals and auto parts.
Here is some latest financial news of private equity, venture capital and mergers & acquisitions:
- Private Equity:
AuthBridge raises $7 mn in Series B from Phi Capital:
AuthBridge Research Services Private Limited has raised $7 million (around Rs 52 crore) in a Series B funding round from private equity (PE) firm Phi Capital. The funds raised will be utilised to invest in technology, strengthen the workforce, and launch new product lines.
(Source: VC Circle 06 December, 2021)
Muthoot Microfin raises $50 mn from PE firm Greater Pacific Capital:
Muthoot Microfin Ltd, the microfinance arm of Thiruvananthapuram-based Muthoot Pappachan Group, has raised $50 million (around Rs 375 crore) from private equity firm Greater Pacific Capital.
(Source: VC Circle 06 December, 2021)
BankBazaar in talks to raise around $100 mn for credit card biz; set to turn unicorn:
Online financial products marketplace BankBazaar is in advanced stage of discussion with global private equity investors to raise around $100 million, or about Rs 750 crore, in its Series E round of funding. A unicorn is a privately-held startup with a valuation of $1 billion.
(Source: VC Circle 07 December, 2021)
Fidelity, Goldman Sachs, others, infuse Rs 311.88 cr in Mapmyindia IPO as anchor investors:
Delhi-based C.E. Info Systems Ltd, that owns and operates Mapmyindia, has raised Rs 311.88 crore (approximately $41.6 million) from 34 anchor investors including Fidelity and Goldman Sachs. The company has issued 30,19,183 equity shares at the upper end of the price band of Rs 1,000-1,033 apiece. Each share carries a face value of Rs 2 per share.
(Source: VC Circle 09 December, 2021)
Ninjacart pockets $145 mn in fresh funding from Flipkart, Walmart:
Ninjacart, a business-to-business marketplace for agricultural produce, has raised $145 million (Rs 1,095 crore) in a fresh round of funding from existing investor, US retail giant Walmart Inc, and its Indian e-commerce arm Flipkart.
(Source: VC Circle 13 December, 2021)
IIFL Wealth, others invest $53 mn in TPG Growth-backed SK Finance:
Private equity-backed SK Finance (formerly Ess Kay Fincorp), a Jaipur-based unlisted used-vehicle and SME financier, has closed its Series F fundraise to raise about Rs 400 crore (around $53 million) from IIFL Wealth and other new investors.
(Source: VC Circle 23 December, 2021)
- Venture Capital:
Fullife raises $22 mn in Series C round from Morgan Stanley PE Asia:
Fullife Healthcare Pvt. Ltd, which sells sports nutrition supplements under the brands Fast & Up, and Chicnutrix has raised $22 million in its Series C round from Morgan Stanley Private Equity Asia. The company will use the funds to accelerate the growth of its flagship brands Fast & Up, and Chicnutrix.
(Source: VC Circle 13 December, 2021)
Pristyn Care secures $96 mn in Series E at $1.4 bn valuation:
Pristyn Care, a chain of multi-specialty clinics for planned surgeries, has raised $96 million (Rs 726 crore) as part of its Series E funding round led by a clutch of investors, including Sequoia Capital and Tiger Global. The funding round was raised at a valuation of $1.4 billion.
(Source: VC Circle 15 December, 2021)
JusPay raises $60 mn from SoftBank Vision Fund 2, others at $460 mn valuation:
JusPay Technologies Pvt Ltd, which operates a payments technology platform, has raised $60 million in its Series C funding round led by SoftBank Vision Fund 2. The fundraise values the company at $460 million. JusPay will be using the funds to enhance its technology infrastructure to better the company’s platform and to scale its business in payments and product adjacencies like credit – both in India and overseas.
(Source: VC Circle 15 December, 2021)
Innovaccer raises $150 mn in Series E funding led by Mubadala; valuation more than doubles to $3.2 bn:
San Francisco -headquartered healthcare technology firm Innovaccer has raised $150 million in a Series E funding round led by Mubadala Capital, more than doubling the valuation to $3.2 billion.
(Source: VC Circle 15 December, 2021)
Hevo Data raises $30 mn in Series B round led by Sequoia Capital India:
Hevo Data, Inc., a no-code data integration platform, has raised $30 million in a Series B funding round led by Sequoia Capital India. The company will use the funds raised to scale sales and marketing efforts, double the focus on building new products, and build teams in the US and Europe.
(Source: VC Circle 17 December, 2021)
Razorpay sees its valuation jump over seven-fold this year, raises $375 Mn:
Digital payments and financial services provider, Razorpay has raised its second major round of funding this year worth $375 million as a part of its Series-F fundraise co-led by hedge and private equity firms Lone Pine Capital , Alkeon Capital and TCV. With this fund raise, Razorpay is now valued at $7.5 billion.
(Source: VC Circle 20 December, 2021)
Jumbotail raises $85 mn from Invus affiliate, others; Kalaari exits partially:
Business-to-business (B2B) e-commerce platform Jumbotail Technologies Pvt Ltd has raised $85 million (around Rs 640 crore) in its Series C funding round led by Artal Asia Pte Ltd, an affiliate of the US-based Invus Group.
(Source: VC Circle 21 December 2021)
Monster.com raises Rs 137.5 cr from Mohandas Pai, others:
Monster.com, a Quess company, and an online talent platform, has raised Rs 137.5 crore (around $18 million) in a funding round led by Akash Bhanshali (Volrado Venture Partners) and Mohandas Pai (Meridian Investments). Post the funding, the company will be valued at close to $100 million. The funds raised will be utilised towards enhanced investments on product development and marketing in India, SEA and Middle East markets
(Source: VC Circle 22 December, 2021)
Zetwerk raises $210 mn from Greenoaks Capital, others at $2.7 bn valuation:
Business-to-business (B2B) manufacturing services marketplace Zetwerk Manufacturing Business Pvt Ltd has raised nearly $210 million as a part of its Series F funding round, led by US-based Greenoaks Capital, according to a regulatory filing. Greenoaks Capital alone invested Rs 543.8 crore ($72.5 million) in the funding round. The fundraise values Zetwerk at $2.68 billion.
(Source: VC Circle 29 December, 2021)
- Mergers & Acquisition:
Open acquires consumer neo-banking platform Finin for $10 mn:
Small-and-medium-enterprise (SME) focused neo-bank, Open has acquired consumer neo-banking platform Finin for $10 million (around Rs 75 crore) in a cash and stock deal. The acquisition will strengthen its cloud-native enterprise offering BankingStack via which it has deployed SME digital banking solutions for 17 banks.
(Source: VC Circle 14 December, 2021)
Adda247 acquires UPSC test prep platform StudyIQ Education:
Multilingual edtech platform Adda247 has acquired UPSC (union public service commission)-focused edtech platform StudyIQ Education for approximately $20 million (around Rs 150 crore) in a cash and stock deal. The acquisition of StudyIQ adds strategic value to Adda247’s offering in the UPSC and State PSC segment.
(Source: VC Circle 17 December, 2021)
Cult.fit acquires RPM fitness, Fitkit, Onefitplus, and Urban Terrain:
Fitness and wellness platform Cult.fit has acquired at-home cardio-equipment brands RPM fitness, Fitkit, Onefitplus and outdoor bicycles brand, Urban Terrai. The financial details of the transaction were not disclosed.
(Source: VC Circle 20 December, 2021)
Advent International acquires majority stake in Encora from Warburg Pincus:
Private equity (PE) firm Advent International has acquired a majority stake in Encora, a digital engineering services company specialising in software product development services, from majority shareholder Warburg Pincus.
(Source: VC Circle 22 December, 2021)
Sterlite Power buys Nangalbibra-Bongaigaon Transmission from PFC Consulting:
Transmission company Sterlite Power Transmission Ltd has bought Nangalbibra─Bongaigaon Transmission Ltd, a special purpose vehicle (SPV) floated by PFC Consulting Ltd for an undisclosed amount. Sterlite Power will set up around 300 circuit kilometres (ckt) of transmission lines network, and a greenfield substation with 320 MVA transformation capacity across the northeastern terrain of Assam and Meghalaya in the project.
(Source: VC Circle 28 December, 2021)
Reliance New Energy Solar to acquire sodium-ion battery firm Faradion:
Reliance New Energy Solar Ltd (RNESL), a subsidiary of Reliance Industries Ltd, has signed definitive agreements to acquire 100% shareholding in Faradion Ltd for an enterprise value of GBP 100 million. RNESL will also invest GBP 25 million as growth capital to accelerate commercial roll out.
(Source: VC Circle 31 December, 2021)