This week, Pigeon Express Pvt. Ltd has taken over the operations of GoJavas. Budget hotel aggregator Oyo has raised Rs 413 crore (around $62 million) from Japan’s SoftBank Group Corp. Hike Messenger has raised $175 Million in Series D round of funding at a valuation of $1.4 Billion led by Tencent Holdings and Foxconn Technology Group. Let’s take a look at some of the funding and acquisition news which made headlines in the startup space.
1. Pi Ventures raises $29 million, all set to launch its very first fund
Pi Ventures has raised $29 million to launch its first fund. Both domestic and international investors have been approached to participate in the fund. With these funds the company wants to focus on startups at the idea stage or product-market fit stage.
2. Ola shuts TaxiForSure, lays off about 90% of workforce
Cab-hailing company Ola has shut its TaxiForSure unit and is laying off as many as 1,000 employees, according to a half-dozen people with direct knowledge of the development. About 90% of the people being laid off from TaxiForSure work in operations such as call centres, driver relations and business development.
3. India’s WhatsApp rival Hike raises 175 Million from Tencent and Foxconn
Instant messaging platform Hike Messenger has raised $175 Million in Series D round of funding at a valuation of $1.4 Billion led by Tencent Holdings and Foxconn Technology Group. Existing investors Tiger Global, Bharti Enterprises, and Softbank Group also participated in this round.
4. Oyo raises Rs 413 crore from SoftBank
Budget hotel aggregator Oyo has raised Rs.413 crore (around $62 million) from Japan’s SoftBank Group Corp. None of Oyo’s other existing investors—Greenoaks Capital, Sequoia Capital and Lightspeed Venture Partners—participated in this round of funding.
5. Salebhai.com raises Rs 10 crore in funding from Brand Capital
Curated e-commerce marketplace for sweets, dry fruits and handicrafts, Salebhai.com, has raised Rs 10 crore in funding from Brand Capital. Other investors in the round included Hungama vice president Virendra Shekhawat, Deepak Chokhani, director – Equity Capital Markets at Malaysian bank CIMB, and Yogesh Patel, the promoter of Australian venture Instani.
6. Jewellery Marketplace Joolz raises Rs 3.3 crore in Pre Series A Round
Mumbai-based online jewellery marketplace Joolz has raised Rs 3.3 crore in a pre-Series-A round led by Silicon Valley-based Powerhouse Ventures and Japan’s M&S Partners. Other investors who participated in the round include Ah! Ventures; Deepak Kasthwal, the former finance head of ride-hailing app Ola; PKX Thomas, the former chief technology officer of online travel agency Cleartrip; and Mahesh Ahuja, director at Brittman.
7. ONGC sets up Rs 100-crore startup fund
Oil and Natural Gas Corporation (ONGC) unveiled a Rs.100 crore start-up fund to nurture new ideas related to the sector. As part of this initiative, ONGC will provide the entire support chain for start-ups including seed capital, hand-holding, mentoring market linkage and follow-ups.
8. Pigeon Express takes over logistics firm GoJavas
After failing to lock a deal with online platform Snapdeal, logistics player GoJavas has found a better deal for itself. Pigeon Express Pvt. Ltd has taken over the operations of GoJavas with the former’s director, Anand Rai, joining the e-commerce logistics company as managing director.
9. Zerodha’s Rainmatter invests Rs 2.5 crore in e-signing platform Digio
Online discount firm Zerodha has invested Rs 2.5 crore through Rainmatter in financial technology digital signature enabling platform Digio. Digio (Digiotech Solutions Private Limited) is a Licensed application service provider with the Centre for Development of Advanced Computing (CDAC), Government of India, a Licensed Certifying Authority with the Controller of Certifying Authorities. (CCA).
10. Womenwear maker ‘W’ secures $140 million from TA Associates
US-based Private equity firm TA Associates has invested $140 million (Rs 937 crore) in TCNS Clothing Co Pvt. Ltd, which owns the ‘W’ brand of clothing for women, to buy out shares from existing shareholders including Matrix Partners India.