This week, Livspace raised Rs 100 crore funding from existing investors. Casino & hotel operator Delta Corp to acquired gaming startup adda52 for $27 million. Here are 10 funding and acquisition news which made headlines in the startup space.
1. Reliance Industries to invest Rs 5000 Cr in Indian Startups over next five years
With the formal launch of Reliance Jio, Reliance Industries chairman Mukesh Ambani said that his group would invest Rs 5000 crore in Indian startups over the next five years. This investment will be channelled through Jio Digital India Startup fund. It will be mostly directed at digital and internet startups to create unique solutions for India as part of the country’s largest business conglomerate’s move to become a communication behemoth.
2. Fashion rental platform Flyrobe raises $5.3 milion in Series A funding led by IDG Ventures
Flyrobe, a fashion rental platform, announced that it had raised $5.3 million in series A funding. The round was led by IDG Ventures, Sequoia India, and Tokyo-based GREE Ventures. This is the Japanese investor’s first investment in India.
3. Matchmaking App Inclov gets 1 crore funding from Quintillion Media
Gurgaon-based matchmaking app for differently abled Inclov has raised Rs 1 crore in a seed round of funding Sarbvir Singh, former MD of Capital 18, and media entrepreneur Raghav Bahl-led digital news venture Quintillion Media Pvt. The startup aims to use the funds for redesigning the Android app and will be also launching the iOS version soon. It aims to go global with the app. The app has to date registered 1,300 matches. More than 4,000 profiles of differently abled are listed on the app.
4. FinTech startup LoanTap raises $3 million in Series A funding
Mumbai-based FinTech startup LoanTap has raised $3 million in Series A funding round which was led by HNI’s Dr. Abhishek Pandey and Jaysukh Sapra. Loantap is an online platform committed to deliver flexible loan products to salaried professionals. They have tried to innovate in an otherwise dull loan segment, to deliver smart products for millennials. The idea is to use technology for building flexibility in products, without adding cost to it. EMI Free Loan & Personal Overdraft are a few initiatives in partnership with reputed NBFCs, registered with RBI.
5. Online photography startup Canvera secures Rs 20 Cr funding from Info Edge
Online photography service Canvera has raised Rs 20 crore in Series B funding led by existing investor Info Edge (India) Ltd, less than a year after it became one of the first startups to report a ‘down round’. Existing investors like Footprint Ventures and undisclosed new investors also participated in this round.
6. Nutanix acquires Sequoia-backed Calm.io and PernixData
Enterprise cloud solution provider Nutanix has acquired Sequoia-backed startup Calm.io and PernixData. It offers a platform for smooth transitioning of software and applications to their newer updates. The venture claims to converge compute, virtualization and storage into a resilient, software-defined solution with rich machine intelligence. Most of its 43 member team is based out of Bengaluru.
7. Sbricks buys home services aggregator Homecues for $1 Million
On-demand home services provider SBricks has acquired home services aggregator HomeCues for over $1million. Under the terms of the deal, HomeCues will become a subsidiary company of SBricks, and will retain its original name and the two companies will split their focus into business-to-consumer and business-to-business sectors respectively.
8. Livspace raises Rs 100 crore funding from existing investors
Home interior design marketplace Livspace has raised Rs 100 crore from Bessemer Venture Partners and Singapore-based Jungle Ventures, along with Helion Venture Partners. The company will use the funding for expansion in new cities and expansion on the design automation platform across designers.
9. Casino & hotel operator Delta Corp to Acquire gaming startup adda52 for $27 million
Delta Corp. announced on Wednesday that it is acquiring 26 percent of shares in Gaussian Networks Pvt. Ltd., the company that owns and operates India’s largest poker site Adda52.com. The acquisition of the company will be divided partly in cash and equity.
10. Voonik acqui-hires styling and personalisation app Dekkoh
Fashion etailer Voonik has acquired styling and personalisation app Dekkoh for an undisclosed amount. Founded by Aditya Chalasani and Varun Mathew, Dekkoh is a fashion-discovery platform that allows users to chat one-on-one with their own personal stylist and buy clothing and accessories that suit them. It connects a community of 200 stylists to consumers seeking fashion advice; it also has a rule-based chatbot technology.