{"id":542,"date":"2021-07-05T08:56:55","date_gmt":"2021-07-05T08:56:55","guid":{"rendered":"http:\/\/www.rnm.in\/blog\/?p=542"},"modified":"2025-01-30T10:55:44","modified_gmt":"2025-01-30T10:55:44","slug":"finance-news-june-2021","status":"publish","type":"post","link":"https:\/\/www.rnm.in\/blog\/finance-news-june-2021\/","title":{"rendered":"Piramal Pharma\u2019s contract division completes acquisition of Hemmo"},"content":{"rendered":"\n<p>The contract development and manufacturing organisation of\nPiramal Pharma Ltd has completed the acquisition of Hemmo Pharmaceuticals Pvt\nLtd.&nbsp;Piramal Pharma had&nbsp;agreed to buy 100% of Hemmo&nbsp;for an\nupfront sum of Rs 775 crore ($105.8 million) and earn-outs linked to\nachievement of milestones. The acquisition will help Piramal Pharma Solutions\nenter into the growing peptide active pharmaceutical ingredients (API)\nmarket.&nbsp;<\/p>\n\n\n\n<p>Here are some latest financial news of private equity, venture capital and mergers &amp; acquisitions: <\/p>\n\n\n\n<h4 class=\"has-text-align-center wp-block-heading\"><strong>Private Equity<\/strong><\/h4>\n\n\n\n<p><strong>OfBusiness turns unicorn with $150 mn funding led by SoftBank Vision Fund 2:  <\/strong><br>OfBusiness is set to raise up to $150 million (Rs 1093 crore) from SoftBank Vision Fund 2 in a funding round that will catapult the small and medium enterprise (SME) financing platform to the unicorn club of startups.  <\/p>\n\n\n\n<p class=\"has-small-font-size\">&nbsp;(Source:\nVC Circle 3 June, 2021)<\/p>\n\n\n\n<p><strong>JM Financial PE fund bets on Pune-based ice cream brand NIC:<br><\/strong>JM Financial Private Equity Fund II has invested Rs 35 crore ($4.8 million) in Walko Food Company Pvt Ltd, a Pune-based natural ice cream maker. The company will utilise the capital to fuel its geographical expansion, and boost capacity.<\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source:\nVC Circle 9 June, 2021)<\/p>\n\n\n\n<p><strong>Multiples PE leads Series F\nfunding round in meat brand Licious: <\/strong>Homegrown\nprivate equity firm Multiples Alternate Asset Management Pvt Ltd has picked up\na minority stake in meat brand Licious by leading a Series F round of funding.\nThe brand operated by, Delightful Gourmet Pvt Ltd, has raised around $65\nmillion (Rs 475.6 crore) in this round of funding.&nbsp; <\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 11 June, 2021)<\/p>\n\n\n\n<p><strong>Singapore\u2019s Makara to invest $297 mn in Srei Equipment Finance:<\/strong> Singapore\u2019s Makara Capital Partners Pte Ltd was looking to invest Rs 2,200 crore ($297.2 million) in the Srei Equipment Finance Ltd, India\u2019s largest equipment finance firm. Makara will invest by subscribing to equity shares and other securities of the company. However, it did not disclose how much stake Makara would buy.&nbsp;<\/p>\n\n\n\n<p class=\"has-small-font-size\">&nbsp;(Source: VC Circle 18 June, 2021)<\/p>\n\n\n\n<p><strong>KKR to take controlling stake in Vini Cosmetics from Sequoia, founders:<\/strong>KKR &amp; Co has signed a definitive agreement to acquire a controlling stake in personal care and beauty products firm, Vini Cosmetics for Rs 4,600 crore ($625 million). It will buy the stake from Sequoia Capital and Vini founders, Darshan Patel and Dipam Patel will continue to hold a stake in the company.&nbsp; <\/p>\n\n\n\n<p class=\"has-small-font-size\">&nbsp;(Source:\nVC Circle 21 June, 2021)<\/p>\n\n\n\n<p><strong>Fourth Partner Energy raises\nequity funding from Norfund, The Rise Fund:<\/strong>Hyderabad-based\nclean energy company Fourth Partner Energy has raised $125 million (Rs 930\ncrore) in equity funding from Norwegian investment fund Norfund and existing\nshareholder. The Rise Fund, which is TPG\u2019s global impact investing platform. Proceeds\nfrom the fundraise will be used for expansion.<\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 30 june, 2021)<\/p>\n\n\n\n<h4 class=\"has-text-align-center wp-block-heading\"><strong>Venture Capital<\/strong><\/h4>\n\n\n\n<p><strong>Avishkaar, Breathe Well-being\nraise funding; N+1 Capital makes debut bet:<\/strong>Edtech startup Avishkaar has raised Rs 5 crore\n($0.7 million) in a pre-Series A funding round. Avishkaar plans to use the capital raised to\nincrease hiring, develop its product and expand its portfolio.&nbsp;<\/p>\n\n\n\n<p class=\"has-small-font-size\">&nbsp;(Source: VC Circle 01 June, 2021)<strong><\/strong><\/p>\n\n\n\n<p><strong>Prosus, Dragoneer, Wellington\nlead $255 mn round in Urban Co at $2.1 bn valuation:<\/strong>Home services company Urban Company has closed\nits ongoing growth round of funding, dubbed Series F, at $255 million (Rs\n1866.7 crore). Led by\nnew investors Prosus Ventures, Dragoneer Investment Group and Wellington\nManagement, the round values the Gurugram based company at $2.1 billion.<\/p>\n\n\n\n<p class=\"has-small-font-size\">&nbsp;(Source: VC Circle 02 June, 2021)<strong><\/strong><\/p>\n\n\n\n<p><strong>Singapore\u2019s GIC leads $50 million Series C funding in Locus:<\/strong>Logistics management startup Locus raised $50 million (Rs 365.4 crores) in a Series C funding round led by Singapore sovereign wealth fund GIC as it looks to improve its geographical reach and build its research and development team.&nbsp; &nbsp; <\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 03 June, 2021)<strong><\/strong><\/p>\n\n\n\n<p><strong>Bambinos.live, Spardha, Str8bat Sports\nraise early stage capital:<\/strong>Bambinos.live, a digital academy for\nextracurricular activities raised $500,000 (Rs 3.6 crores) as part of its seed\ninvestment round from HNIs and angels. Bambinos.live will use the fresh funds to develop its\nproduct, scale up its distribution network and enhance the course content\nacross categories of extracurricular activities.&nbsp; <\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 3 June, 2021)<\/p>\n\n\n\n<p><strong>Artha Ventures overshoots\nmaiden fund target, raises Rs 220 crore:<\/strong>Micro venture capital firm Artha Venture Fund\nhas raised investor commitments worth more than Rs 220 crore ($30 million) for\nits debut fund, overshooting its target to raise Rs 200 crore.<\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 4 June, 2021)<\/p>\n\n\n\n<p><strong>The Chennai Angels invests in\nBlaer Motors; Swiflearn raises cash:<\/strong>The Chennai Angels has invested Rs 2.61 crore\n($0.4 million) in Blaer Motors, an NIT-Trichy incubated startup. Blaer Motors would use the funds to develop its\ninfrastructure, technology and strengthen its research and development\nteam.&nbsp;<\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 7 June, 2021)<\/p>\n\n\n\n<p><strong>TPG leads $80 mn investment in\nZenoti as part of Series D round:<\/strong>Bellevue, Washington based Soham which provides\ncloud-based solutions for beauty, wellness and fitness businesses under the\nbrand name Zenoti has raised an additional $80 million (Rs 583 crore per\ncurrent exchange rates) as part of its Series D funding round. The additional\ninvestment was led by global private equity firm TPG and valued Zenoti at $1.5\nbillion.&nbsp;The company will use the capital for inorganic\ngrowth through acquisitions and will also provide its employees liquidity for\ntheir Employee Stock Ownership Plan (ESCOP) scheme<\/p>\n\n\n\n<p class=\"has-small-font-size\">&nbsp;(Source:\nVC Circle 08 June, 2021)<\/p>\n\n\n\n<p><strong>Indonesian fintech startup BukuWarung raises $60 mn Series A<\/strong>: Jakarta, Indonesia headquartered accounting app for small merchants, BukuWarung, has raised $60 million (about Rs 439.4 crore) in a Series A round of funding even as it looks to expand its engineering and product teams in Bengaluru and other locations in India. &nbsp;&nbsp;&nbsp; <\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 10 June, 2021)<\/p>\n\n\n\n<p><strong>US-based homebuying platform\nFlyhomes raises Series C funding:<\/strong>Flyhomes, a US headquartered homebuying\nplatform, has raised $150 million (Rs 1,097 crore) Series C financing to fuel\nits growth and expand presence in India.&nbsp;With an aim to scale up\noperations in India, it is looking at increasing its India staff from the\ncurrent 150 to 450.<\/p>\n\n\n\n<p class=\"has-small-font-size\">&nbsp;(Source:\nVC Circle 11 June, 2021)<\/p>\n\n\n\n<p><strong>Apis Partners leads Series C\nfunding in insurtech startup RenewBuy:<\/strong>Digital insurance platform RenewBuy has raised\n$45 million (Rs 332 crore) as part of its Series C funding round. The fresh capital will be used to further\naccelerate its growth.<\/p>\n\n\n\n<p class=\"has-small-font-size\">&nbsp;(Source:\nVC Circle 18 June, 2021)<\/p>\n\n\n\n<p><strong>Logistics-tech startup LocoNav\nbags $37 mn in Series B funding:<\/strong>Logistics-tech\nstartup LocoNav Inc has raised $37 million (Rs 274 crore) as part of its Series\nB funding round. LocoNav will use the funds to strengthen its\ntechnology and data science team across San Francisco, Gurugram and Bengaluru. The fresh capital\nwill also help the company establish additional partnerships and channels, and\nmake strategic acquisitions.<\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 29 June, 2021)<\/p>\n\n\n\n<h4 class=\"has-text-align-center wp-block-heading\"><strong>Mergers &amp; Acquisition<\/strong><\/h4>\n\n\n\n<p><strong>Rossari Biotech to buy Unitop\nChemicals for $57.7 mn:<\/strong>Bengaluru-based Prestige Estates Projects has made\nan upfront payment of Rs 370 crore ($50 million) to the lenders of Mumbai\u2019s\nstressed Ariisto Developers Pvt Ltd under the insolvency process. <\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 2 June, 2021)<\/p>\n\n\n\n<p><strong>Tata Digital to acquire majority\nstake in digital health platform 1mg:<\/strong>Tata Digital, a 100%\nsubsidiary of Tata Group holding entity Tata Sons, has acquired a majority\nstake in e-pharmacy and health technology platform 1mg as it builds out a\nunified consumer ecommerce platform. The financial details of the deal were not\ndisclosed.&nbsp;<\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 10 June, 2021)<\/p>\n\n\n\n<p><strong>Corporate law firm Khaitan buys boutique\nlaw firm Assentio Legal:<\/strong>Khaitan &amp; Co has acquired boutique law firm\nAssentio Legal which will operate with its regional office in Chennai, the\ncorporate law firm. The financial details of the\ndeal were not disclosed.&nbsp;<\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 21 June, 2021)<\/p>\n\n\n\n<p><strong>Prestige Estates Projects acquires bankrupt\nAriisto Developers:<\/strong>Bengaluru-based\nPrestige Estates Projects has made an upfront payment of Rs 370 crore ($50\nmillion) to the lenders of Mumbai\u2019s stressed Ariisto Developers Pvt Ltd under\nthe insolvency process.&nbsp; <\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 23 June, 2021)<\/p>\n\n\n\n<p><strong>Market-bound Zomato seeks CCI nod to invest\nin Grofers:<\/strong>Food delivery service Zomato filed a proposal with the\nCompetition Commission of India to acquire a 9.3% stake in SoftBank backed\ngrocery etailer Grofers.&nbsp;The market-bound delivery app was looking to\ninvest about $100 million (Rs 736 crore) in Grofers. &nbsp;<\/p>\n\n\n\n<p class=\"has-small-font-size\">(Source: VC Circle 30 June, 2021)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The contract development and manufacturing organisation of Piramal Pharma Ltd has completed the acquisition of Hemmo Pharmaceuticals Pvt Ltd.&nbsp;Piramal Pharma had&nbsp;agreed to buy 100% of Hemmo&nbsp;for an upfront sum of Rs 775 crore ($105.8 million) and earn-outs linked to achievement of milestones. The acquisition will help Piramal Pharma Solutions enter into the growing peptide active pharmaceutical ingredients (API) market.&nbsp; Here [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":544,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[20,14],"tags":[68,22,21],"class_list":["post-542","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-finance","category-general","tag-mergers-and-acquisition","tag-private-equity","tag-venture-capital"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Piramal Pharma acquires Hemmo to expand peptide API capabilities<\/title>\n<meta name=\"description\" content=\"Piramal Pharma&#039;s contract division, Piramal Pharma Solutions (PPS), has completed the acquisition of Hemmo, 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