This week, Snapdeal received more than $21 million as part of its funding round from Luxembourg-based firm Clouse SA. Net1 will invest $40 million in MobiKwik, and will integrate its Virtual Card technology across MobiKwik wallets. Let’s take a look at some of the funding and acquisition news which made headlines in the startup space.
1. NephroPlus raises Rs 100 Cr in Series C funding led by SeaLink Capital Partners and IFC
Dialysis provider NephroPlus has raised Rs 100 Crore in a Series-C funding. The round was led by Mumbai-based private equity firm SeaLink Capital Partners and existing investor International Finance Corporation, a member of the World Bank Group. The funding raised via this round will be used to expand to 500 centres over the next five years.
2. Snapdeal receives $21 million from Luxembourg’s Clouse SA
Jasper Infotech Pvt. Ltd, which runs e-commerce firm Snapdeal, has received more than $21 million as part of its previously announced funding round from Luxembourg-based firm Clouse SA. Founded in 2010 by Kunal Bahl and Rohit Bansal as a deals site, Snapdeal now claims to have 300,000 sellers and more than 50 million products across 1,000 categories.
3. Media.Net acquired by Chinese consortium led by Miteno Communication Technology, for USD 900 million
AdTech company Media.net, that has been famous for running ads for companies like Yahoo, Bing, Forbes, Cosmopolitan and other big names, has been acquired by China based Miteno Communication Technology and others (forming a Consortium). The acquisition deal is worth USD 900 million, making this one of the largest acquisitions of AdTech companies.
4. Ratan Tata’s VC fund to invest $300 million in start-ups in India, SouthEast Asia and US
The newly set up RNT Capital Advisers, a venture fund launched by Tata Sons chairman emeritus Ratan Tata, will deploy $300 million across startups in India, Southeast Asia and the US. The VC fund is headquartered jointly in Mumbai and Singapore, and will most probably be investing $10-15 million funds in tech businesses.
5. Sachin and Binny Bansal back Unacademy, venture raises USD 1 million in the latest funding round
Unacademy, the online platform that allows educators to create courses, has raised another round of USD 1 million funding after the venture closed its angel funding some time back. The round that was let by Blume Ventures also saw participation from Flipkart’s Sachin Bansal, Binny Bansal, Paytm’s Vijay Shekhar Sharma and FreeCharge’s Kunal Shah.
6. Urban Ladder raises $3 million venture debt from Trifecta Capital
Furniture eCommerce firm Urban Ladder has secured a venture debt of $3 million from Trifecta Capital. While the company hasn’t released an official press statement, filings with the RoC confirm that the amount was issued in June 2016 against non-convertible debentures and compulsorily convertible preference shares.
7. CureFit invested Rs 20 crore in Bangalore-based CULT Fitness
Former Flipkart executives Ankit Nagori and Mukesh Bansal’s yet-to-be-launched online preventive healthcare platform CureFit, on Tuesday said that it has acquired a controlling stake in Cult, a fitness startup that offers training programmes that do not require the use of equipment and which operates two fitness centres in Bengaluru for $3 million.
8. Michael and Susan Dell Foundation invest $900,000 into ConveGenius
Michael and Susan Dell Foundation has invested about $900,000 in edutainment startup, ConveGenius. ConveGenius was co-founded by Shashank Pandey and Jairaj Bhattacharya in 2013, both alumni from IIIT Hyderabad, aims at becoming a market leader in Edutainment. The company aims to create disruption in the knowledge and digital media segment by providing affordable educational solutions for both the existing and the emerging mobile users globally.
9. Apple buys Gliimpse, a health startup with Indian-origin founders
Apple has acquired personal health data startup Gliimpse founded by two Indian-origin entrepreneurs. Apple has been focusing a lot on health technologies and has integrated HealthKit, CareKit and ResearchKit at the operating system level.
10. Mobikwik secures $40 million from Net1, South African payment firm
Net 1 UEPS Technologies, a South Africa-based provider of alternative payment systems, has signed a subscription agreement with India’s digital wallet firm MobiKwik. As part of the partnership, Net1 will invest $40 million in MobiKwik, and will integrate its Virtual Card technology across MobiKwik wallets.