This week, Azim Premji’s family office PremjiInvest has invested about Rs 200 crore in the Delhi-based Lenskart. Singapore-based fashion and lifestyle marketplace Zilingo has raised $8 million in Series A funding. Here are 8 funding and acquisition news which made headlines in the startup space.


1. Test-prep startup TopRankers raises $670,000 from Careernet Consulting

Bangalore-based online test preparation startup TopRankers has raised Rs 4.5 crore ($670,000) in angel funding from CareerNet Consulting Pvt. Ltd and Ideation Initiative Pvt. Ltd. The company will use the funds for improving technology and geographic expansion in India.

2. Azim Premji’s family office PremjiInvest puts Rs 200 Cr into Lenskart

Azim Premji’s family office PremjiInvest has invested about Rs 200 crore in the Delhi-based Lenskart. With this round, Premji joins other Indian corporate leaders like Ratan Tata, Infosys co-founder Kris Gopalakrishnan and Ronnie Screwvala as investors in Lenskart. PremjiInvest, through PI Opportunities Fund-II, has subscribed to fresh shares worth Rs 65 crore in the company at a valuation of Rs 1,800 crore.

3. Women’s apparel e-tailer eShakti raised $1.34 million fresh funding

Chennai-based eShakti Pvt. Ltd, operator of an online women’s apparel retailer, has raised fresh funding from two investors. eShakti, which targets the US and Canda and operates an Indian e-commerce unit under Zapelle, raised Rs 9 crore ($1.34 million) through a preferential allotment of shares.

4. Zilingo secures $8 Million lead by Venturra Capital, Sequoia Capital and SIG

Singapore-based fashion and lifestyle marketplace Zilingo has raised $8 million in Series A funding led by existing investor Sequoia India, Indonesia’s Venturra Capital and Hong Kong-based Susquehanna International Group.

5. Quikrcars acquires Stepni, with an aim to strengthen company’s service offering

QuikrCars, has acquired Stepni- a platform that connects vehicle owners with service providers nearest to them. This is being considered a move to strengthen the company’s service offerings under its vertical that focuses on all types of automobiles including cars, bikes and commercial vehicles. It also opens cross-selling opportunities for QuikrServices.

6. Edutech startup Prozo raises $205,000 in seed funding, an online market to buy and sell book and other study material, has raised seed funding of $205,000 from many investors that include Nalin Jain, president and CEO of GE’s transportation businesses; Shomil Pant, head strategy at Wockhardt Pharmaceuticals; Dinesh Kundu; an unnamed McKinsey & Co director and other angel investors.

7. Gurgaon-based Nova Gaming Ventures in talks to raise $5 million

Gurgaon-based gaming platform startup Nova Gaming Ventures is in talks with multiple investors to raise $5 million to fund its expansion plans. The company, which had launched its gaming platform NovaPlay in April this year, is now looking to expand into mobile gaming space, said Amitesh Rao, CEO.

8.  YAAP acquires Brand Planet Consultants for $3 million

Digital content service provider YAAP has acquired Brand Planet Consultants for $3 Million in an all-cash deal. Brand Planet will be rebranded as Yaap post acquisition.The deal will help Yaap with its global expansion plan. The founders of Brand Planet, Anjan Roy and Shouvik Roy, will join the YAAP management team as senior partners.

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Biplab Ghosh

Biplab lives his life around technology and is particularly keen to explore the intersection of technology and human behaviour. Always looking for new ideas, and ways that can make things simpler. He is a geek with the flair for travel and has great passion for music and theatres.

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