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April 29, 2013

Deal Alert: Appcelerate-India launches to boost app development on Nokia, Microsoft platforms

Nokia India, in collaboration with AppCampus (Finland) and members of Harvard Business School Alumni Angels (India Chapter), have launched an initiative called Appcelerate-India to boost mobile app development on Nokia Lumia and Microsoft Windows platform. AppCampus and Harvard Business School Alumni Angels India will invest over $500,000 in Appcelerate-India and provide a combination of grants, seed funding, mentoring, incubation resources to discover disruptive applications and nurture talented Indian mobile startups.

The most promising ideas from Nokia’s first consumer app reality television show, Your Wish Is My App, as well as submissions from the local ecosystem will be considered for investment and incubation. This initiative seeks to combine the best of AppCampus’ global acceleration model with the hands-on mentoring expertise of Appcelerate-India.

Source: Press Release

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

April 28, 2013

Deal Alert: Future Ventures invests in KFC Shoemaker

Future Ventures India Ltd. (FVIL) is to invest in KFC Shoemaker Pvt. Ltd. Post completion of issue and allotment of equity shares, FVIL will hold 33.3% of the issued and paid up share capital of KFC Shoemaker, which is engaged in the business of sourcing footwear from domestic as well as foreign suppliers. The company also undertakes retail sale of leather shoes / footwear / bags under the Tresmode and Solvoga brands. 

KFC Shoemaker posted revenues of Rs.25.89 crore for the period ended March 31, 2013, as against Rs.21.52 crore in the previous year period.

Source: Press Release
 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Messaging app startup hike raises $7-M from Bharti SoftBank

BSB, a joint venture between Bharti Enterprises and SoftBank Corp., focused on the mobile Internet space, has invested $7 million in hike, a free messaging app startup. hike, which crossed the 5 million users mark in four months after its launch in December 2012, offers seamless integration between Instant Messaging and SMS. About 60% of hike’s user base comes from India and the rest global led by Middle East and Europe.

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Yebhi.com raises $12-M bridge round from existing investors

Gurgaon-based e-commerce company Yebhi has raised $12 million from its existing investors Fidelity Growth Partners India, Qualcomm Ventures, Nexus Venture Partners and Catamaran. The round seems to be a bridge round as the company has been unable to raise follow on capital from new investors. 

With this round Yebhi has raised a total of around $39 million of investment in four rounds. It also switched to the managed marketplace model like rivals ShopClues and Pepperfry. Besides this internal round Yebhi is also looking to raise more growth capital. 

Earlier in July Yebhi raised $20 million Series C funding led by Fidelity and Qualcomm Ventures. The company had also raised Series A funding of $2 million from Nexus in 2010. In 2011 it raised Series B funding which was led by Catamaran and Nexus. 

Source: NextBigWhat

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

April 25, 2013

Deal Alert: Blume, Rajan Anandan, others invest Rs.1.5 Cr in web data analytics firm Dataweave

Bangalore-based data aggregation and analytics company Dataweave has raised Rs.1.5 crore in seed round of funding from angel investor & Google India MD Rajan Anandan, Blume Ventures, TLabs (Times Internet), 5ideas Startup Superfuel, Meta Studio Advisors and a group of angels. 

Launched in 2011 by Karthik Ramesh and Vikranth Ramanolla, Dataweave discovers, tracks and aggregates online public data and makes it available in a structured format. It provides actionable data by aggregating, organizing, visualizing, and managing millions of data points from the Web. The data is presented to the businesses through standard APIs, dashboards and visualizations.

Source: Iamwire
 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Angels invest in Plustxt Mobile Solutions

Bangalore-based Plustxt Mobile Solutions has raised funding from Mumbai Angels and Bangalore Angels. The company, founded in 2012 by IIT-Kharagpur and IIM-Calcutta alumnus Pratyush Prasanna, provides a text messaging mobile application that is optimized for Indian languages. The messaging system is available in Hindi, Marathi, Malayalam, Gujarati, Punjabi, Kannada and Tamil 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

April 24, 2013

Deal Alert: Baby record portal Little1 raises angel funding

Little1, an online baby record book launched by Kolkata-based OneUp Ventures, has raised an angel round of $80,000. The platform enables parents to preserve their child’s growing up memories both online and offline. It offers unlimited photo uploads and secure sharing. In addition, parents can avail of a print copy of the baby record book. 

The company, launched by Naresh Baid and Sabarish Nair, unveiled a private beta in November 2012 and went public in January. Nair and Baid were earlier wealth managers with Kotak and HSBC. 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Khyati Foods raises funding from SEAF, Sarona Asset Mgmt

Sarona Asset Management, alongside its PE partner SEAF Agribusiness India Fund, has invested in Mumbai-based Khyati Foods Ltd. Khyati processes organic cotton and soybeans, primarily for export to Europe and North America. It purchases its products from 10,000 certified-organic smallholder farmers in India. 

The investment will enable Khyati to expand both its processing facilities and the range of products it works with. 

Source: Press Release

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Patient management SaaS SmartRx raised capital from Ventureast, CIIE

Bangalore-based Smart Cloud Technologies, the developer of SmartRx, a cloud-based patient management solution for doctors and hospitals, has raised funding from Ventureast Tenet Fund, IIM-Ahmedabad’s startup accelerator, CIIE, and other investors. Ramesh Byrapaneni, venture partner at Ventureast Tenet Fund, joins the Smart Cloud board along with managing partner Sateesh Andra. 

Founded in 2011 by Anil Kumar and Vijayakumar Kannan, SmartRx enables doctors and to provide patients timely diagnosis, testing, consultation, review and health advice according to prescribed standards. Prior to starting Smart Cloud, Kumar worked with Realcom, a Japanese company focused on knowledge and content management. He earlier co-founded a company called Pragna Technologies. Co-founder Kannan has worked with companies such as Accenture and AsconHealtha and also founded rupees4gigs.com, a marketplace for small services and products. 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Kalaari Capital invests in bakery chain Ovenfresh

Kalaari Capital, via Kalaari Capital Partners II LLC, has invested in Chennai-based Ubiquitous Foods Pvt Ltd which operates the Ovenfresh bakery chain. A Vichar Partners team led by Aarthi Sivanandh (Partner) and including Lavanya Krithivasan (Associate) provided legal advice to Ubiquitous on the documentation for the transaction and assisted on the negotiation of the transaction terms. 

Ubiquitous currently runs six outlets in Chennai, according to its web site. Rajesh Raju and Sampathkumar Pudhukottai of Kaalari have joined the company's board, regulatory filings reveal. The company was incorporated in November 2007 with Rajiv Subramanian and Indra Subramanian as its founding directors.

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: US-India Big Data startup Qubole raises $7-M Series A

Bangalore- and Palo Alto, US-based Qubole Data Service has completed Series A funding round of $7 million from Charles River Ventures and Lightspeed Ventures, as well as angel investors Venky Harinarayan and Anand Rajaram. Based on Apache Hadoop and founded by the creators of Apache Hive and Facebook’s analytics platform, Qubole is focused on making analytics easy and accessible to businesses of all sizes. 

Source: Press Release
 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

April 23, 2013

Fund Alert: Contrarian Capital to raise $50-M Social VC fund

Contrarian Capital India Partners’ debut fund, called Contrarian Opportunities Fund I, is targeting a corpus of $50 million and will seek to make early stage impact investments. The fund will invest in education, healthcare and agri-businesses. The fund will play in the Series A stage and invest between $500,000 and $5 million in each company over multiple rounds. 

Source: Startupcentral

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Ace Tours files for IPO

Surat-based travel agent Ace Tours Worldwide Ltd. has filed the DRHP for an IPO of 50,00,000 equity shares at a cash price of Rs.16 per share aggregating to Rs.8 crore, constituting 39.46% of the fully diluted share of the company. Corporate Strategic Allianz is the book building lead manager to the issue. The company will be traded on the BSE-SME exchange. 

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Kae Cap, Blume, Mumbai Angels invest in app development software firm ShepHertz

VC firms Kae Capital and Blume Ventures and Mumbai Angels have invested in Mumbai-based ShepHertz Technologies. ShepHertz — which provides a cloud-based, back-end technology platform for developers to make, deploy and launch their applications — will use the funding for product development, hiring talent and marketing. 

The company was founded in 2010 by its CEO Siddhartha Chandurkar. 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Helion, Ventureast invest in IRM tech firm Seclore

Helion Venture Partners and Ventureast Proactive have made a joint investment in Seclore, a Mumbai-based Information Rights Management (IRM) and secure outsourcing systems firm. Seclore, which has been in the market providing its technology to customers for just over three years, started within IIT Bombay and was supported by the entrepreneurship promotion organization of the institute. 

With IIT graduates Vishal Gupta (CEO) and Abhijit Tannu (CTO) at the helm, the company has grown to a user base of over 3 million users and customers spread across North America, Western Europe and South Asia. 

Source: Press Release
 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Mobile video firm Apalya raises $10-M from Cisco, others

Mobile video company Apalya Technologies has raised $10 million from Cisco, along with other investors like IDG Ventures India, Indo US Venture Partners and Qualcomm. Cisco has also added Apalya’s live TV and mobile video capabilities to its Cisco Videoscape architecture by integrating the Video Delivery Platform from Apalya. 

Apalya’s last couple of rounds of funding, from Qualcomm and IDG in January 2011, were raised largely keeping in mind India’s 3G auctions and enhancing its capabilities to deliver video content over 3G networks. 

Source: Medianama

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

April 22, 2013

Deal Alert: Commodities trading software firm Eka acquires Canada’s EnCompass

Bangalore-based Eka Software Solutions, a global provider of advanced commodities and energy trading and risk management technologies (CTRM & ETRM), has acquired Calgary, Canada-based EnCompass Technologies. Established in 1993, EnCompass is a provider of a fully-integrated, multi-commodity and FX transaction management system, covering the entire transaction lifecycle, from capture through confirmation, operations, settlement and risk management. 

All employees of EnCompass have joined Eka, and the two co-founders, CEO Andy Bout and COO Stewart Brightman, will take key leadership roles in the combined organization.  

From the Venture Intelligence PE Deal database: Eka had raised $10-M from Nexus Ventures in Oct-09. 

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Rajan Anandan, Harvard Angels commit to 4 investments

StartupRoots, initiated by 10,000 Startups in association with NextBigWhat, has helped four start-ups to raise spot funding from angels investors, including Google India MD and angel investor Rajan Anandan. Bangalore-based Lumos Design Technology, working to develop solar-powered apparel, got Rs.25-lakh in return for a 10% stake for Anandan. 

Anirudh Suri, founding partner of Indian Internet Group, Ravi Gururaj and Ramesh Kumar Shah, co-founders of Harvard Business School Alumni Angels India, wrote a combined cheque of Rs.1 crore for a 22.5% in a Kolkata based social audience discovery platform, Tookitaki

Mumbai based provider of digital jukebox for retail outlets, Moojic, raised Rs.25 lakh from three angel investors including Anandan for 12.5% stake. Credii, a cloud-based platform for business software selection and procurement, got an investment of $50,000 for a 5% stake. 

Source: iamwire.com

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

April 18, 2013

Fund Alert: Unitus sets up Rs.50-Cr social sector fund

Unitus Seed Fund is launching a new Rs.50 crore early-stage domestic fund backed. Former Infosys senior executive Mohandas Pai and Manipal Group scion Ranjan Pai have cumulatively committed $2 million (Rs.11 crore) to the corpus. The new investment vehicle, to be launched in the second-half of 2013, will look to make equity-linked investments in startups. The fund will look to make 30-40 investments over its life-cycle, with the average ticket size ranging between $50,000 and $100,000.

The domestic fund is preceded by the $25 million (Rs.135.6 crore) Cayman Island-registered Unitus Seed Fund that was launched in January earlier. Unitus currently counts skill development ventures iStar and Bodhicrew Services, learning centre Hippocampus, online microlending platform Milaap and rural distributor Villgro Innovation Marketing, in its portfolio.

Source: Economic Times

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Fund Alert: 5ideas closes first seed fund Startup Superfuel

5ideas announces the first close of Startup Superfuel, a seed stage fund that provides early stage tech start-ups a blend of human, financial and social capital. Start-up Superfuel is the first of the five ideas that Pearl Uppal and Gaurav Kachru launched in October last year under 5ideas platform.

Startup Superfuel aims to invest in 40 start-ups in the next 3 years, of which 10 to 12 investments will be made this year. The fund will invest between Rs.25 lakh to Rs.1.5 crore in a startup, with the ability invest to up to Rs.2.5 crore in follow-on rounds. The sector agnostic fund looks for tech start-ups targeting digital market. Startup Superfuel is targeting to raise a total of $10 million (Rs.55 crore) and will continue to raise the funds while simultaneously making investments post this closure.

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Beauty products etailer Purplle.com raises Series A funding

Mumbai based beauty and skincare e-retailer Purplle.com has recently closed a Series A funding from non-VC investors, to follow up on its angel round last year. Founded by Manish Taneja in 2011, Purplle.com offers product in various categories including fragrances, skincare, and beauty products for both men and women. 

Source: iamwire.com

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Unitus, Mumbai Angels invest in handyman services firm Jack On Block

Global investment firm Unitus Seed Fund has completed its investment in Bangalore-based facilities management company Jack On Block, which offers handyman and maintenance services to homes and small businesses. Along with Unitus Seed Fund, angel investors Mumbai Angels and Bangalore Angels have also invested in Jack On Block. Unitus Capital was the financial advisor and Impact Law Ventures, the legal advisor on this transaction.

Founded in 2012, Jack On Block’s model includes hiring unskilled and semiskilled workers from low-income families, training and then finally integrating them into the formal sector. It now services over 2,000 customers in Bangalore with a staff of over 90 employees.

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

April 17, 2013

Banking Vs I-Banking: A Question of Spice Levels

Uday Kotak in Outlook Business (emphasis mine):
From an investment banking perspective you need to offer what investors want at all times, but as a lender you need to decide if it makes sense for you. For example, in 2007-08, there was exuberance around the Indian infrastructure story — the media believed it, the policy makers believed it, investors wanted it, so we brought some of these companies to market. It was probably high risk but we got them in. Offering equities is like leaving to the consumer the choice of how much spice they want in their food — if they want a high risk bet with the upside and the downside of equities, the choice is really theirs — and as a cook I need to give them that. But as a banker, I need to decide how much spice is good for me; I did not like spice in my food during that time so we did not take exposure to infrastructure.
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

April 16, 2013

Fund Alert: Habit Fund to raise $100-M early stage fund

Manipal Education and Medical Group head Ranjan Pai and former Infosys director Mohandas Pai are investing in a new accelerator - The Habit Fund - which will back early-stage social media, mobile and cloud computing start-ups. The Habit Fund will be managed by Silicon Valley venture capitalist and entrepreneur Sunil Bhargava of mobile start-up incubator Tandem Capital and Rohit Bhagat, former Asia Pacific chairman of BlackRock Inc., and aims to raise $75-100 million. The accelerator will process about 300 start-up applications every quarter. Each start-up will receive anywhere between $150,000-300,000 in funding. 

Source: Mint

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Fund Alert: Soros Economic Development Fund backs Aspada Investment with $10-M

Aspada Investment Company has received a $10 million commitment from Soros Economic Development Fund (SEDF). Aspada, led by Kartik Srivatsa and Thomas Hyland, will make both equity and debt-like self-liquidating investments in high growth businesses. The fund seeks to commit $10 million to early stage businesses to make education, healthcare and financial services more accessible to low-income people in India. It will also invest in agricultural supply chain companies in an effort to support small holder farmers. 

Aspada represents SEDF’s second investment in India. In 2008, SEDF, Omidyar Network and Google, in partnership with the Indian School of Business, created the $17 million SONG Fund, which provides early and growth stage capital to SMEs in areas such as affordable healthcare, school education and agriculture supply chains. 

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Knewcleus acquires learning solutions startup X2PN

Bangalore-based education management software firm Knewcleus has acquired X2PN E-Learning, a fellow Bangalore-based firm that has built apps with a strong gamification angle. The X2PN acquisition will help Knewcleus improve its engagement platform by providing learners with ‘learning games’. 

Source: Yourstory.in
 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Aspada invests in Lawrencedale Agri Processing

Aspada Investment Company has made its first ever investment in Lawrencedale Agri Processing, an end-to-end fresh vegetable supply chain company that operates in the Nilgiris belt in South India. Lawrencedale seeks to aggregate fresh produce from farmers at the farm gate and sell to retail consumers under the LEAF brand in major markets. This investment aims to help increase the incomes of small holder farmers. 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Qubecell raises seed round from Kae Capital, Blume, others

Qubecell, a Mumbai-based mobile billing aggregator, has raised seed funding in a round led by Kae Capital, with participation from Blume Ventures, Mumbai Angels and Russian investor TA Ventures. The transaction occurred in December 2012, and the company plans to use the funds raised to grow business in India and abroad by getting more merchants. It will also develop its technology platform. 

Founded in 2012, Qubecell integrates with telecom operators in the country and enables mobile payment service through carrier billing. 

Source: Medianama 
 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Omnivore Capital invests in pork products firm Arohan

Omnivore Partners has bought a significant minority stake in Guwahati-based Arohan Foods Pvt. Ltd., the country’s first pork integrator. Omnivore is an early stage VC fund backed by Godrej Agrovet Ltd. Arohan Foods, which was started in 2011, offers packaged pork products including sausages, cocktail sausages and sliced salami in a variety of flavors developed in-house under its flagship brand Choice Pork Natural across the seven states of the Northeast. It works with smallholder pig farmers across the region and plans to enter breeding and contract farming over the next two years. 

The founders of Arohan Foods are Anabil Goswami, formerly with Tata Chemicals, Ranapratap Brahma, who used to be at Bank of Baroda, and Arindom Hazarika, who was with Kotak Mahindra Bank. The promoters plan to use the money raised to launch their products in other parts of the country including Mumbai, New Delhi and the South.

Source: Mint

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Fulcrum Venture India invests INR 21.82 crores in ‘Shield Healthcare Pvt Ltd’

Fulcrum Venture India, a highly successful early stage venture capital investor started in 2000 by Krishna Ramanathan as a proprietary fund, today announced an investment of INR 21.82 crores in Shield Healthcare Pvt Ltd a pharmaceutical company within the branded formulations space. The company will use the proceeds to fund its business geographically and vertically integrate a manufacturing unit. As an integral part of this deal, Krishna Ramanathan, Founder-Partner, Fulcrum Venture India will join the Board of Directors of the Company. 

Commenting on the occasion, Krishna Ramanathan said, “Fulcrum Venture India is happy to partner with Shield Healthcare under the leadership of Mr L. Mahadevan and looks forward to the company scaling up over the next 5 to 7 years under his leadership. The company carries a strong product catalogue and with the growth of new products in the Gynaecologist and Consultant Physician segments. Fulcrum expects Shield revenue to increase significantly over the coming year, thereafter growing exponentially to INR 100Cr by 2016 yielding an EBIDTA in the range of 26% - 30% according to Pharma Industry standards. We also consider the valuation attractive given Fulcrum’s deep domain knowledge in the formulations business.” 

Shield with a top line of INR 24Cr, in FY 2012, moved into expansion mode recently to enlarge its southern and eastern presence into a pan Indian one. The company will close at a top line of INR 31Cr, in FY 2013. To realize its expansion plans Shield decided to launch a manufacturing unit, where in Fulcrum saw as a golden investment opportunity. It estimates the Factory and SBU will break even in the next 2 years, while the overall company is cash flow positive. Fulcrum believes that further investment into geographical expansion would turn positive cash-flow sooner. Shield, an ISO-9000:2008 certified organization, is aiming for UK MHRA accreditation by 2013 and expects US FDA approval by 2014. 

The main strength of Shield lies in its outstanding management team and focus on building very powerful brands, while phasing out other less promising ones. In keeping with our game changing investment policy Fulcrum has been active in developing strategies for expanding the sales division and future options of the factory. Shield is now focused on brands in the Gynaecology and Infertility segment; Fulcrum expects its revenue to rapidly increase in the next financial year due to the inherent value Shield has built into the product assets. 

Fulcrum has been focusing on early stage investing since its inception in 2000 and has a successful track record for offering financial support to promising start ups and SMEs in a variety of sectors such as Pharma, Niche Retail, Consumer Durables, Education, IT & Technology. Fulcrum Venture India continues to identify, fund and manage, promising investment opportunities and facilitate growth in the neglected SME sector. 

About Fulcrum Venture India 

Fulcrum has been focusing on early stage investing since its inception in 2000 and has a successful track record for offering financial support to promising start ups in a variety of sectors such as Pharma, Niche Retail, Consumer Durables, Education, IT & Technology. Fulcrum partners with promising SME’s to create good top line growth and high Return on equity. On average Fulcrum’s investments have, 8.95x cash invested since 2000. We focus on business fundamentals and partner ambitious management with big unique ideas in stable markets. For more information, please visit www.fulcrumventureindia.com 

About Shield Healthcare Pvt Ltd

Shield started operations in 1995 under the guidance and able leadership of Mr L. Mahadevan. Shield is currently present across 10 states with strong presence in Tamil Nadu and Andhra Pradesh. The company has robust plans to build a pan India presence in the next few years. Shield today is recognized as an integrated pharmaceutical company with core competencies in the development and manufacture of strong products in the Infertility segment, Active Pharmaceutical Ingredients (APIs), Finished Dosage Forms and drug discovery, as well as a robust pipeline for launching new products. For more information, please visit www.shieldhealthcare.co.in 

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

April 15, 2013

Deal Alert: Gadget repair service firm Pickme raises funds from Blume, angels

Early-stage VC fund Blume Ventures along with Chennai Angels and the Mumbai Angels has invested into Pickme, a gadget repair service venture in Mumbai. Pickme provides service solutions for mobile phones, cameras, watches, laptops, tablets, etc. The firm picks up the gadget from doorstep, gets it repaired at an Authorized Service Center and delivers it back to the owner. 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Reviews42 raises $0.9 M from Nirvana, Blume and Angels

New Delhi-based Solvy Tech Solutions Pvt. Ltd., which runs community based product reviews platform Reviews42, has raised Series A funding of $0.9 million from Nirvana Ventures with participation from existing investors Blume Ventures and angels like Rahul Khanna (MD at Canaan Partners) and Flipkart Co-founders Sachin and Binny Bansal. Amit Patni and Rajan Mehra of Nirvana Ventures have joined the company’s board 

Reviews42 aggregates user reviews based on ratings/rankings taken from users. It claims to cover 6,032 products across various categories, with a total of 2,934 reviews contributed by 1,369 reviewers.

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Deal Alert: Unitus Seed Fund invests in vocational edu firm iStar

Unitus Seed Fund has invested in Bangalore-based iStar, is a vocational skills training company that provides unemployed graduates with additional skills training to make them readily employable in the BFSI and ITeS sectors.

iStar started its first iLAB program in Dec 2011 with 300 students and has grown continuously since, training 2,500 students across Bangalore. The company has been funded by, and is an official partner of, the National Skill Development Corporation.

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Fund Alert: IFC to invest in Motilal Oswal PE’s 2nd fund

IFC has committed to invest in India Business Excellence Fund IIA (IBEF IIA), a fund which aims to offer growth equity and strategic and operational assistance to Small and Medium Enterprises (SMEs) in India. The investment focus will be on high growth businesses and also focused on Tier II and Tier III cities in India. The Fund aims to invest in sectors which benefit from demand led by Domestic consumption and Infrastructure enablers. The Fund is second series to India Business Excellence Fund I – a 2006-07 vintage fund of $82.5 million which is fully deployed. 

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Deal Alert: Tano Capital to invest Rs 80 crore in Shree Shubham Logistics Limited

Shree Shubham Logistics Limited (“SSLL”),a subsidiary of Kalpataru Power Transmission Limited (KPTL) has signed an agreement with Tano India Private Equity Fund II to raise Rs 80 crore to fund its capacity expansion plan. 

SSLL is one of the leading organized service providers in the agri logistics space. It operates on unique combination of owned and managed warehouses. KPTL is one of the largest and fastest growing specialized EPC companies in India engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development and civil contracting with a strong international presence in power transmission & distribution.

Mr. Manish Mohnot (Group Director) said “Our subsidiary (SSLL) has emerged among the largest private player in agri-logistics sector providing one-stop solutions to the entire value chain in agriculture sector”. This fund infusion will support our capacity expansion plans in the states of Maharashtra, Rajasthan and Madhya Pradesh and other states of the country.

Hetal Gandhi (MD of Tano India Advisors Ltd) said “We are excited to partner with SSLL which has followed a differentiated and scalable model in the agri-logistics space. After a substantial asset build-out in the last few years, the Company is seeing increased levels of traction in its various businesses. The Company is backed by pedigreed promoters who have a track record of building companies which become leaders in the space in which they operate in.” 

About Shree Shubham Logistics Ltd (SSLL) 

Shree Shubham Logistics Limited (SSLL) provides end-to-end logistics solutions under one roof. It provides services encompassing storage and preservation with a chain of dry and cold storage units, weighing, Testing and Certification (grading and sorting facilities for standardization of agricultural produce), collateral management for commodity financing against warehouse receipts/stocks with the help of Banks, fumigation and pest management, commodity procurement etc. Currently, SSLL is operating and managing 90 warehouses (owned & leased) with storage capacity of around 11 lacs metric tonnes and total floor plate area of around 6.0 Million Sq. Ft in the states of Rajasthan, Gujarat & Madhya Pradesh. The company will expand this capacity to 1.5 million Metric Tonnes by end of this year and to nearly 2 million Metric Tonnes over the next two to three years with a pan India presence. 

About Kalpataru Power Transmission Limited (KPTL)

KPTL is one of the largest and fastest growing specialized EPC companies in India engaged in power transmission & distribution, oil & gas pipeline, railways, infrastructure development, civil contracting and warehousing & logistics business with a strong international presence in power transmission & distribution. The company is currently executing several projects in India, Africa, Middle East, Australia, North America and Far East. 

About Tano Capital 

Tano Capital is focused on investing in early to mid stage companies that have a prior business record and exhibit strong growth potential over 4-5 years. In line with this strategy, Tano is currently investing from its second India fund, Tano India Private Equity Fund II. Tano Capital was founded by Charles E. Johnson, formerly Co-President of Franklin Templeton Investments and CEO of Templeton Worldwide Inc. Hetal Gandhi and Carlton Pereira are the co-founders of Tano Capital India. 

Inga Capital was the sole advisor to the Company for this transaction. 

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April 14, 2013

Deal Alert: Sorenson Foundation invests $1-M in SME lender Kinara

Bangalore-based micro, small, and medium enterprises (MSME) lending company Kinara Capital has raised about Rs.5.4 crore ($1 million) in a Series A round led by Sorenson Impact Foundation. The other investors are John Ayliffe of 1to4 Foundation, Halloran Philanthropies and Kinara Capital Holdings (a special purpose vehicle constituted in Singapore). Two of the investors, Halloran Philanthropies and John Ayliffe, were part of an earlier seed round of over Rs.2.7 crore ($500,000) that included the Unitus Impact Fund and private investors based in the US under the banner Mesoloan. 

Kinara provides debt capital in the range of Rs.1 lakh to Rs.10 lakh with credit products such as short-term working capital loans and receivables discounting. The company, so far, has supported 60 entrepreneurs, with zero defaults. 

 
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Deal Alert: Jungle Ventures invests in ZipDial

Singapore-based VC firm Jungle Ventures has invested in Bangalore-based mobile technology company ZipDial Mobile Solutions as it expands its business in the Southeast Asian markets. 

ZipDial has just launched operations in Sri Lanka. A marketing and analytics platform, ZipDial creates engagement with traditional media like print and television using missed calls. Jungle Ventures joins a roster of early investors, including Mumbai Angels, Blume Ventures and US-based 500 Startups. ZipDial now has over 400 customers, including big consumer goods companies Procter & Gamble and Unilever. 

Jungle Ventures’ earlier investments include online retailer EkStop and Mobikon Technologies.

From the Venture Intelligence Angel Investments database: ZipDial had raised INR 3.75 Cr for a 43.85% stake from Mumbai Angels and US-based angel investors in Apr-11. 

 
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Deal Alert: Asian Healthcare Fund to invest Rs.50-Cr in dental chain Mydentist: report

Asian Healthcare Fund (AHF), a PE firm floated by Dabur Group chairman Anand Burman and former Dabur Pharma CEO Ajay Kumar Vij, is close to investing Rs.40-50 crore in Mydentist, a Mumbai-based chain of dental clinics. The deal marks AHF’s first investment since it was set up in 2011. 

Mydentist operates a regional dental care chain of 40 clinics with a focus in Western India. It is among the largest private chains in the country with 38 of its 40 clinics located in Mumbai and the rest in Pune. The funding would be used to scale up its footprint in other geographies. The company was launched in 2009 by Vivek Vora, who had earlier worked with dental equipment marketing firm Healix Medico.  

From the Venture Intelligence PE Deal database: In Dec-10, Seedfund had committed to invest INR 8-Cr inTotal Dental Care, the company behind Mydentist . 

 
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April 11, 2013

Deal Alert: IFC to invest in IFMR Rural Channels

IFC is to make a quasi equity investment in Chennai-based IFMR Rural Channels & Services Pvt. Ltd., an investment & distribution company founded by the IFMR Trust. IFMR Rural provides financial products and services in remote rural areas of India through the KGFS model. A KGFS is a full service local financial institution model, providing various credit, insurance, savings, pensions, remittance and asset products, exclusively focused on the remote rural households. 

The company currently provides access to finance to more than 245,000 enrolled customers with a credit portfolio under management of approximately $12 million. IFC’s proposed investment will help IFMR Rural scale up its lending and non lending businesses in its current areas of operation, in addition to helping the Company expand in newer geographies, including a few of the low income states in India.

From the Venture Intelligence Social Investments Database: Lok Capital had invested $5-M in IFMR Rural Channels in Mar-12. 

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Deal Alert: OCP Asia invests $15-M in HomeShop18

Hong Kong-based hedge fund OCP Asia Ltd. has invested $15 million HomeShop18, the Noida-based teleshopping arm of publicly listed Network18 Media & Investments Ltd. Network18 will also invest a similar amount in the company and continue to be the majority shareholder.

HomeShop18 launched India’s first 24-hour home shopping TV channel in 2008. Today, it operates across the Internet, TV and mobile channels through HomeShop18.com and the 24x7 channel. It has acquired a customer base of 6.1 million. 

OCP Asia was established in September 2009 by Stuart Wilson and Teall Edds.  

From the Venture Intelligence PE Deal database: SAIF had invested $2-M in May-06 for a 30% stake in HomeShop18. In Jul-08, SAIF and Capital18 had invested $21-M in the company. 

Source: BSE
 
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Developers warming up to Retirement Homes

From Business Today:
Retirement homes have always been a popular concept in the West. But they were relatively slow to take off in India where for the longest time they were associated with the abandonment of older people. Not any longer. Better life expectancy and financial independence have spawned a new breed of senior citizens such as the Nairs who are happy to live in retirement homes instead of dealing with the isolation and hassles of independent homes. With attitudes changing, many real estate developers including Ashiana Housing, Paranjpe Schemes, Shriram Properties and Covai Property Centre are pouring big money into retirement home complexes. Several non-real estate companies such as Max India and LIC Housing Finance have also entered the business of homes for seniors. While Max is yet to launch its project, LIC Housing has opened two senior living complexes in Bangalore and Bhubaneswar.

Real estate consultancy Jones Lang LaSalle India (JLL India) estimates India has about 32 retirement home complexes and another 30 either under construction or in the pipeline. The complexes have mushroomed near big cities such as Delhi and Chennai, so seniors can remain connected with family in the city, or in small towns such as Coimbatore and Kodaikanal, which are away from the hustle and bustle of the big city but still have the necessary infrastructure. They consist of about 50 to 200 apartments or villas each, and can accommodate 100 to 400 people. JLL India pegs demand for senior housing units at 300,000, which is way short of the number of available units.

...Covai, a Rs 100-crore company largely into senior living, plans to build nearly 2,100 units across six cities. Covai plans to invest Rs 75 crore to build retirement home complexes in Puducherry, Chennai, Bangalore and Hyderabad. The Chennai-based Shriram Group will launch its first project in March with an investment of Rs 55 crore. Another retirement living player, Aamkosh One Eighty, a tie-up between US retirement community giant One Eighty and Aamoksh Leisure Living, is developing a high-end project in Kodaikanal. The project cost is around Rs 100 crore. Aamkosh plans to launch two projects - in Pune and Kasauli - at an estimated cost of Rs 150 crore.

...Apartments in retirement home complexes are priced at an affordable Rs 25 to Rs 50 lakh because seniors have limited resources. Buyers have multiple ownership options: companies such as Covai and Ashiana sell their apartments while the Chennai-based Clasic Group follows a hybrid model involving an upfront deposit starting at Rs 13 lakh and a monthly rent of Rs 15,500 a person for food, housekeeping, security and other common services. The deposit is paid to the successors with some deductions. Builders say retirement homes are still a profitable business. "Retirement homes command a premium over normal residential projects. Our Bhiwadi retirement home fetched us 15 per cent more return compared to our usual residential project in the same locality," says Ashiana Housing's Gupta.

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April 10, 2013

Deal Alert: AcceleratorHK now open to Indian startups

Hong Kong startup accelerator AcceleratorHK is announcing the second iteration of its 14-week program. The accelerator is accepting applications, both from local and overseas startups, between April 9 and April 15. Startups in India can now apply to participate in the accelerator which is focused on hybrid mobile app development with HTML5. AcceleratorHK is funded by Telerik and is led by entrepreneurs Stephen Forte and Paul Orlando. 

Source: Startup Central

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Deal Alert: Eventifier raises funding from Kae Capital

Eventifier, a Mangalore based startup promoted by Jazeel Ferry, Nazim Zeeshan and Mohammed Saud, has raised a round of funding from Kae Capital. Eventifier allows a user to collate all the information related to an event in one place. The startup scaled this concept to archiving 1000+ events, and generating 17000+ unique visitors per month. More than 10% of the visitors become customers. The company was part of the Chennai based The Startup Centre accelerator. 

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Deal Alert: Babycare e-tailer Babyoye acquires competitor Hoopos; raises $12-M

Online babycare products e-tailer Babyoye has acquired its competitor Bangalore-based Hoopos in an all stock deal. The merged entity has also raised funding of $12 million (Rs.64.8 crore) led by Helion Venture Partners with participation from Accel Partners and Tiger Global. Hoopos is expected to be turned into a niche site retailing products for older children. The new entity is targeting about Rs.250 crore in revenue in two years. 

BabyOye previously raised $2.5 million from Accel and Tiger in 2011, while Hoopos raised an undisclosed amount of money from Helion the same year.

Source: Economic Times

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

April 09, 2013

Deal Alert: Technology for Impact Accelerator announces the first batch of 16 startups

The Technology for Impact Accelerator program for business creating social impact, an initiative by CIIE- IIM Ahmedabad and Village Capital, has announced its first batch of 16 startups. 

The accelerator focuses on for-profit, commercially scalable Indian startups that display a high level of social value in their tech-driven or tech-enabled offerings. The emphasis is on technology ventures operating in the mobile/ICT, health, agribusiness, education, sustainability and livelihood solutions verticals. The startups are: 

Kriyate Design Solutions is utilizing elevation technology to create a smart phone for the visually impaired at an accessible price point, liberating and creating livelihood-enhancing opportunities for potentially millions around the globe. 

Edsix Brain Lab expects to disrupt the booming educational gaming sector by becoming the world’s largest developer and publisher of interactive brain skill & curriculum based products.

MediAngels is creating the world’s first online hospital, providing medical services for people around the globe utilizing internet and mobile technology. 

Aakar Innovations is producing a biodegradable sanitary napkin product for the BoP woman consumer sold by women in a hub & spoke model across India. 

Advance DIA-BESE Care is helping patients and care providers manage diabetes and its associated complications through a novel algorithm driven program 

Green Agrevolution maximizes the take home profit of farmers by improving efficiencies in the agricultural supply chain, from crop selection to marketing, utilizing a microentrepreneurial franchise model. 

UTOPIA is developing a number of innovative and unique livelihood enhancing products and solutions for the differently-abled. 

SuryOn has developed the Apollo Mobile Phone Charger, capable of charging mobile phones directly from sunlight, without the intermediacy of batteries. 

GreenNerds Solutions provides innovative technology solutions to address the needs of current environmental challenges around the solid waste management sector.

HelloMyDoctor is a pre-paid telephonic health consultation platform that utilizes a location algorithm to ensure that patients are connected with participating doctors nearby.

Pappilon Software Solutions Pvt. Ltd. has developed HealthBooth, a five-minute check-in booth, which is capable of performing health checks for Rs.50.

Kaambol.com is an online job portal with supplemental training and placement services for brown-collar workers. Clients placed through Kaambol regularly see salary hikes between 40 and 80%.

Experifun has developed a suite of innovative, patent-ready, interactive scientific product solutions to dramatically improve in-classroom learning at the K-12 level.

Sanchayan delivers comprehensive financial planning, literacy & financial services like savings, banking, etc to low-income BOP populations.

nanoPix is an image and video processing product company focusing on socially impacting products bringing value, quality and safety to people. They are working on products in both the agricultural and medical device fields. 

Source: Yourstory.in

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April 08, 2013

Deal Alert: Utkarsh Micro Finance raises Rs.20-Cr from existing investors

Varanasi-based microfinance institution Utkarsh Micro Finance has closed a Rs.20 crore round of equity financing led by existing investors Aavishkaar Goodwell, IFC and Norwegian Microfinance Initiative (NMI). The NBFC will use the proceeds to build up its presence in UP, Bihar, Uttarakhand and Madhya Pradesh, as well as invest in strategic initiatives. 

Started by former ICICI Microbanking head Govind Singh, Utkarsh currently operates in 24 districts of Uttar Pradesh, Bihar, Madhya Pradesh, Uttarkhand and Delhi. It has 102 branches, serving almost 2 lakh customers and a loan portfolio of Rs.178 crore. 

From the Venture Intelligence PE Deal database: Utkarsh had raised Rs.4-Cr from Aavishkaar Goodwell and IFC in Nov-09 for a 42.56% stake. In Jun-11, it raised Rs.25-Cr from Aavishkaar, IFC and NMI for a 43.42% stake.

Source: Economic Times

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Inventus leads Rs.27-Cr Series B for Policybazaar.com

Gurgaon-based Etechaces Marketing and Consulting Pvt. Ltd., which runs online financial services platform Policybazaar.com, has secured about Rs.27 crore ($5 million) of Series B funding. The funding, led by Inventus Capital Partners, will be used to enhance the platform and to create a consumer-centric brand. Existing investors Info Edge and Intel Capital also participated in the latest round of funding, with the former investing Rs.2.5 crore. With this, Info Edge has invested an aggregate of about Rs.32.5 crore in Policybazaar for an about 32% stake.  

From the Venture Intelligence PE Deal database: In Apr-11, Policybazaar had raised Rs.40 crore from Intel Capital (Rs.30-Cr) and Info Edge (Rs.10-Cr). 

Source: BSE, Business Line

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

April 07, 2013

Deal Alert: mPOS solution provider Mosambee raises $1-M from SIDBI Ventures

Mosambee, a Mumbai based mPoS solution provider, has raised seed funding of around $1 million from SIDBI Ventures. The funding will be used for marketing and scaling of services. 

Last year, Mosambee had launched its service in Dubai after a soft launch in India by September 2012. The company plans to officially launch in the country this month and plans to expand to Southeast Asian and Western markets. It also intends to build market specific solutions for the West.

Source: MediaNama
 
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Deal Alert: Myntra acquires US-based ‘virtual dressing room’ firm FITIQUETTE

Online fashion and lifestyle products retailer Myntra has acquired San Francisco based technology platform provider FITIQUETTE. The acquisition was made partly in stock and partly in cash. FITIQUETTE has developed technology for solving the Fit/Size problem online. The virtual dressing room developed by FITIQUETTE generates a virtual mannequin based on various body types to which users can adjust specific measurements. 

This is Myntra's second acquisition in four months. In November 2012, it acquired Sher Singh, a global private label online brand specialising in sports-inspired lifestyle apparel for men and women and its New York-based parent company Exclusively.in. 

 
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Deal Alert: Japan’s Adways to acquire 66% stake in internet marketer vCommission

Adways Inc, an affiliate marketing firm listed on the Tokyo Stock Exchange, has acquired 13.8% in Indian Internet marketing company VC Internet Media, which operates an affiliate advertising network vCommission. Adways has the option of gradually increasing its stake to 66% in three phases, by the end of the financial year. 

VC Internet Media was formed in 2007 by Tarang Bhargava and Parul Mehta, and vCommission was launched in 2008. It focused on the US and UK markets till 2010, and then began focusing on the Indian market. The company has a registered publisher base of 11,000 affiliates, of which around 30% are international. Clients the company has served include Airtel, HDFC, ICICI, Citibank. Myntra, Pepperfry, YepMe and Yahoo Business Services. 

Source: MediaNama
 
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Deal Alert: MFI Satin Creditcare raises Rs.41-Cr; Lok Capital exits

New Delhi-based microfinance institution (MFI) Satin Creditcare Network Ltd. (SCNL) has raised Rs.41 crore from VC firms MicroVest II, LP, ShoreCap ll Ltd and Danish Microfinance Partners K/S. The promoter group has also contributed funds in this round. The nww round marks the exit of Lok Capital Llc (via sale to MicroVest). Lok was SCNL’s first institutional investor, investing about Rs.5 crore in April 2008. Unitus Capital was the financial advisor to the transaction. 

SCNL has microfinance operations spread across nine states in North India with 158 branches and around 428,000 customers. It had a loan portfolio of Rs.575 crore as of 31 March, representing an increase of 80% from a year ago. 

Source: Mint
 
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April 05, 2013

Why Indian Tech Startups are migrating to Singapore

“From an Entrepreneurs' perspective, Singapore is a great place to operate from. If you are starting a (VC fundable) venture now, I would recommend having your headquarters/holding company in Singapore and making your Indian operations operate as a subsidiary of that. Singapore also has highly credibile image and is not looked upon as a tax haven.”

- Sesh A.V., Basiz Fund Services at the Venture Intelligence APEX'13 Summit

From a recent Business Today article:
Exact data on such ventures is not available, but the number of Indian companies with operations in the citystate jumped to 4,000 in 2012 from 1,100 in 2000, according to the Singapore Economic Development Board (SEDB). Industry executives say a Singapore presence is ideal for companies aspiring to go global as the city-state is an international business hub. "The very fact that your company is based in Singapore means it is considered more of a regional or global company as the local market is very small," says Murli Ravi, Head of South Asia investment at Singapore-based venture capital firm Jafco Asia.

...The most compelling reason for Indian entrepreneurs to move their headquarters is the ease of doing business in Singapore. The Southeast Asian nation topped the World Bank's Doing Business 2013 survey of 185 countries. India is ranked 132. In terms of starting a business, the city-state is ranked fourth while India comes in at 173. The World Bank survey also notes that it takes three permits and three days to start a business in Singapore. In comparison, it takes 12 approvals and 27 days to start a business in India. "The biggest thing companies love there is zero corruption," says Arvind Lakshmikumar, founder and CEO of Tonbo Imaging. The start-up, which makes high-end imaging equipment for armed forces, was set up in Bangalore in 2007 and moved to Singapore last October. Lakshmikumar says Singapore's easier tax regime makes it even more attractive. The city-state caps corporate tax at 17 per cent, compared with more than 30 per cent in India. Lakshmikumar says Tonbo was also paying 35 per cent import duty on raw material and 15.5 per cent valueadded tax in India. "That's a huge tax burden," he says.

...Capillary Technologies, a customer engagement solutions provider which shifted from Kolkata to Singapore last July, does not want to talk much about the reasons for the move. "We do not want to be seen as a company which is shifting base to save taxes," says co-founder Krishna Mehra. "We are very much an Indian company at heart." Mohan Kumar, Executive Director at Norwest Venture Partners India, says shifting to Singapore was a "smart move" by Capillary since it has a large number of customers in that region. Kumar believes that the trend, which has accelerated over the past two to three years, is likely to pick up further.
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Profle of Strides Arcolab Founder Arun Kumar

In February 2013, the publicly listed Strides sold its injectable medicine business, Agila Specialties, to US drug giant Mylan Inc. From the Business Today profile:
Son of a government official, Kumar hails from Kerala and grew up in Ooty. He was just 21 years old when he set out for Mumbai in 1982 to seek his destiny. In his initial days, he worked with the Bombay Drug House and British Pharmaceutical Laboratories. He set up Strides at Vashi, Navi Mumbai, in 1990. ...the sale, at more than $1.6 billion (about Rs 9,000 crore), is one of the biggest deals in the Indian pharmaceutical sector in recent times. Strides will get an additional $250 million if it meets certain undisclosed conditions. ...Analysts say injectables, the business Strides is selling, is an interesting segment, partly because making injections is more difficult than making tablets. Plus, this is a product more targeted at hospitals than individuals. This means that there are fewer players in the market. The upside is that when innovator products go off patent, prices of generic versions do not fall drastically. The size of the injectables market is much smaller than that for oral drugs. In the global pharmaceuticals market of around $800 billion, the size of generic injectables would be one per cent, says Kumar. But, as Mylan said, the segment is growing at a much faster pace.
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April 04, 2013

Deal Alert: Canbank VC invests Rs.20-Cr in Guwahati’s GNRC hospital

Bangalore-based Canbank Venture Capital Fund has invested nearly Rs.20 crore in GNRC Hospitals which is setting up an 300-bed hospital in North Guwahati. The total project cost is close to Rs.92 crore. The investment is being made from the Rs.500 crore Emerging India Growth Fund. Promoted by Dr Nomal Chandra Borah in 1985, GNRC specializes in neuro-related ailments. It has two tertiary care hospitals (GNRC – Dispur & GNRC Six Mile) with total capacity of 215 beds.

Source: Business Line

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: Accel Partners invests $6-M in Power2sme

VC firm Accel Partners has invested around $6 million (Rs.32 crore) in Power2sme, a Gurgaon-based online buying platform for SMEs. The deal, which comes nine months after the company raised initial funding of $2 million from Inventus Capital and Kalaari Capital, values Power2sme at about Rs.200 crore.

Power2sme, founded by R Narayan, aggregates demand from small businesses and places a large order with the supplier, which helps derive better pricing. Around 10,000 SMEs have registered with the firm. From revenues of Rs.20 crore in the previous fiscal, it is targeting Rs.120 crore this fiscal. Narayan had earlier co-founded IT services firm Denave.

Source: Economic Times

Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.

Deal Alert: eHealth TBI looking to raise Rs.100-Cr early stage VC fund

eHealth TBI is looking to raise at least Rs.100 crore for an early stage VC fund, with another Rs.50 crore as a green shoe option. So far it has secured a commitment for Rs.30 crore. The fund will invest in 10-20 startups in their first rounds. 

Bangalore-based eHealth TBI is a Technology Incubator, focused on IT applications in Healthcare industry, located at the PES School of Engineering. 

 
Venture Intelligence is the leading provider of data and analysis on Private Company Financials, Transactions (private equity, venture capital and M&A) & their Valuations in India. Click Here to view our products list including the Free Deal Digest Weekly: India's First & Most Exhaustive Transactions Newsletter.