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October 31, 2013

Deal Alert: Matrix makes first round investment in digital entertainment distribution service Biscoot

Matrix Partners India has invested as the sole investor in the first institutional round of funding for Shotformats Digital Works, a digital entertainment and distribution company that offers a mobile and internet bouquet of direct to consumer products under the ‘Biscoot’ brand. Shotformats Digital Works is a Singapore-headquartered digital distribution and new media company that develops digital platforms, products and content to reach audiences via varied online and offline distribution streams. Its portfolio of products includes movies (Biscoot Talkies), music (Biscoot Bajao), infotainment (Biscoot B-Now), apps (Biscoot App Bazaar), and pre-paid payment mechanism (Biscoot Batua). The company, co-founded by Niyati Shah, hopes to be present across 10,000 retailers by end of the year. 

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: Yash Technologies acquires manufacturing focused IT Services firm SpectraSoft

IT service provider Yash Technologies has acquired Chennai-based SpectraSoft Technologies, a leading business solutions specialist for process industries and SAP channel partner. SpectraSoft has been serving customers in the life sciences, chemical, and food processing verticals since its inception in 2004. The acquisition of SpectraSoft will strengthen Yash's full service capabilities in these verticals. 

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.

October 30, 2013

Deal Alert: Ru-Net leads Rs.31-Cr Series B round for AppsDaily

Mumbai-based mobile application development and distribution company AppsDaily (formerly Onward Mobility) has received a Series B round of INR 31 crore from new investor Ru-Net and existing investors IndoUs Ventures and Qualcomm Ventures. AppsDaily plans to utilize these funds to expand its product offering, retail distribution reach and for hiring key employees. The company also plans to expand to more than 200 cities in India in the next 12 months and is also planning to start operations in other emerging markets. 

The company had earlier raised INR 18 crore in 2011 from IndoUS Venture Partners and Qualcomm Ventures and INR 5 Crore in 2010 from the Mumbai Angels. As part of the latest deal, Maria Krajukhina of Ru-Net Limited has joined the company’s board. The other investor directors on the board are Vani Kola from IndoUs Venture Partners and Rajiv Dadlani from the Mumbai Angels, as well as Varsha Tagare from Qualcomm Ventures who serves as an observer. 


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: Sequoia leads Rs. 100-Cr investment in maternity hospitals chain Cloudnine

Sequoia Capital India has led a Rs 100 crore investment into Bangalore-based company Cloudnine, which runs a network of five specialty maternity care hospitals. Existing investor Matrix Partners India also participated in the round. Cloudnine will use the funds to set up 10 new centres over the next two years. The first one in Chennai will deliver services in maternal, neonatal, gynaecological and infertility care. 

Cloundnine had raised Rs 45 crore from Matrix Partners in 2011.

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.

October 29, 2013

Deal Alert: 500 Startups invests in mobile advertising firm SilverPush

Gurgaon-based mobile advertising company SilverPush is among the 30 start-ups selected for the accelerator program of US-based 500 Startups. The company, founded by Hitesh Chawla and Mudit Seth, was earlier part of the GSF Accelerator. 

Silverpush helps advertisers retarget the existing users over mobile and social networks. It provides advertisers an integrated dashboard to retarget and analyze their consumers across all screens. The company has built its own real-time bidding (RTB) platform for mobile, bidding on billions of ad requests a month. 

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.

October 25, 2013

Off Topic: The License-Permit-IT Raid Raj Is Alive & Kicking Onion Eaters

The Hue and Cry over onion prices hitting Rs.100 pr kg, made me revisit this Economic Times feature (written on Oct 1, when the prices were Rs.80 per kg) which had some revealing details on why the License-Permit-IT Raid Raj is alive and well. Extracts (emphasis mine):
As it is, the number of traders in onion mandis is not increasing. In important onion markets, it adds, most commission agents and traders have been there for 10-15 and only one or two new licences have been issued. "Such long presence with each other in the market has helped them to develop mutual understanding and gives undue advantage to these established trading firms in the onion trade," says the report. It's anomalous that though most of the produce enters the onion mandis between October and February, this is when prices are highest. This suggests, says the report, that "other exogenous factors like hoarding, market cartels, etc are influencing onion prices." According to Himanshu, since demand for onions rises as the festive season begins, traders usually start releasing only in November and December. "If traders start hoarding that harvest as well, prices will peak right into January," he says. "That is what happened in 2010-2011." That year, it took action from the then-finance minister Pranab Mukherjee to cool down prices. Two days after a raid on some of the biggest onion traders in Maharashtra by the income tax department, prices fell 60%. ...The Agricultural Produce Marketing Committee Act—a state-level law that dictates where a farmer can sell and who can buy — is promoting cartelisation. Elsewhere, the government has failed to calibrate exports—a Rs 2,141 crore business in 2011-12—to domestic conditions. In 2010, for instance, unseasonal rains in late-September and October 2010 destroyed the onion crop. Yet, India exported 133,000 tonnes of onion that October....The government's fear is that if the country abruptly stops exports, it will not be seen as a reliable supplier in international markets.
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.

October 24, 2013

Deal Alert: Tata Capital leads Rs.40-Cr investment in oncology solutions provider Mitra Biotech

Tata Capital Innovations Fund, managed by Tata Capital, along with existing investors India Innovation Fund and Accel Partners, will invest about Rs 40 crore in the Series B funding for Bangalore-based cancer care provider Mitra Biotech. The deal values the firm at about Rs 200 crore. Founded by a team of medical researchers from the MIT and Harvard Medical School, Mitra Biotech works with top oncology institutes to determine the optimal drug or combination of drugs for patients. This helps reduce the overall treatment cycle and toxicity of conventional cancer medicines. The latest round of funding will be used to scale operations, expand globally and strengthen the business development and research teams. Masterkey Holdings acted as the exclusive financial advisors to Mitra Biotech for the transaction. 

From the Venture Intelligence PE Deal database: In April 2010 Accel India and Kitven had invested $1 million and in November 2010 India Innovation Fund had invested $ 0.55 million in Mitra Biotech. 

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: Tata Capital invests Rs.32-Cr in IFMR Rural Channels

Tata Capital Limited, via Tata Capital Special Situations Fund, has invested INR 32 Cr in Chennai-based IFMR Rural Channels and Services Private Limited (IRCS). In March 2012, IRCS had raised funding from Lok Capital and Proparco. The latest investment will help IRCS scale its business in its current areas of operation, in addition to expanding its reach to newer geographies.

IRCS is in the business of origination and distribution of financial products and services with the goal of complete financial inclusion in remote rural India. At present, the KGFS network has more than 185 branches that cater to around 350,000 individuals across Tamil Nadu, Orissa and Uttarakhand state, covering around 4200 remote rural villages. 

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: Mumbai Angels invests in SkillWiz and MangoSense

SkillWiz, a career assessment company has raised funding from Mumbai Angels and other angel investors from India and Singapore. The firm will use the funds for product development, hiring talent, and for sales and marketing. 

Mumbai Angels has also invested in Pune-based startup MangoSense, which allows users to create, share and learn from stories on mobile and web platforms using simple tools. 

 
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.

October 23, 2013

Deal Alert: Peepul Capital leads $30-M funding for online advertising firm Komli

Mumbai-based digital advertising platform Komli Media has raised $30 million from Peepul Capital with participation from existing investors Norwest Venture Partners, Nexus Venture Partners Helion Venture Partners and Draper Fisher Jurvetson. The company, which has now raised over $90 million in PE investment, will invest further in technology, especially in data analytics. 

 
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: Homeshop18 raises $14-M more from existing investors

The online teleshopping arm of Network 18, Homeshop18, has closed$14 million in a new round of funding led by existing investors - Korean home shopping major, GS Home Shopping (GS), OCP Asia Ltd (OCP Asia) and Network18. GS is investing $11 million while OCP Asia and Network18 will invest the rest.

The new funding will now value HomeShop18 at$360 million. Network18 will remain the majority shareholder in HomeShop18 with 51% stake. BMR Advisors acted as transaction advisors to the company. The new funding comes in few months after OCP Asia Ltd. (OCP Asia), along with Network18 had invested $15 million each in the company. Previously, Homeshop18 had raised $18.6 million in funding from investors including SAIF partners in July 2012. In 2009, GS Home Shopping, along-with Network18 had injected $23.5 million in Homeshop18. HomeShop18 claims to have acquired a customer base of 7.5 million with a portfolio of over 12 million SKUs across multiple product categories at over 3,000 locations across India.

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.

October 22, 2013

Deal Alert: Intel Capital invests in taxi booking service Savaari, data recovery firm Perpetuuiti

Intel Capital has invested in Mumbai-based Perpetuuiti Technosoft and Bangalore-based Savaari Car Rentals. Perpetuuiti Technosoft offers real-time visibility and availability management of business continuity planning/disaster recovery (BCP/DR) infrastructure. With this investment the company plans to expand its reach outside India and take their BCP solution to Africa and USA.

Savaari Car Rentals is an online car rental company, offering car rentals across 60 cities in India to both retail and corporate customers. Savaari will use this funds to rapidly scale and expand its operations in India. The company had previously raised INR 5 Cr funding from Inventus Capital. 


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.

October 20, 2013

Deal Alert: RSM acquires sustainability and energy advisory firm General Carbon

Accounting and consulting firm RSM Astute Consulting Group has acquired a majority stake in General Carbon, a sustainability and energy advisory service company, which now becomes a subsidiary of RSM in India and will be called RSM GC Advisory Services. General Carbon, promoted by P Ram Babu, provides strategic, technical and financial services across major energy and environmental commodity markets. 

The firm has helped governments and multilateral agencies define policies on sustainable development and plans to address environmental issues. RSM Astute Consulting is the Indian member of RSM International, the seventh largest network of independent audit, tax and advisory firms in the world with an annual combined fee income of $4 billion. 

Source: Times of India

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.

October 17, 2013

Deal Alert: Travel start-up Mygola raises $1.5 M Series A round led by Helion Ventures

Bangalore-based travel start-up Mygola has raised $1.5 million in a Series A funding round led by Helion Venture Partners with participation from existing investor Blumberg Capital. The firm plans to use funding to expand presence in the US, testing marketing channels and growth. Ashish Gupta of Helion has joined the board of the company.

Mygola helps travelers discover travel itineraries that are customizable and instantly bookable. Travelers can tweak itineraries and Mygola’s patent-pending algorithms take care of the logistical details. The portal has created patent-pending algorithms to convert any blog/article into an itinerary and to find the perfect route for a trip. The platform covers more than 20,000 destinations worldwide. The company had earlier raised $1 million funding from 500Startups and Blumberg Capital.

Source: NextBigWhat.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: Commerce education start-up K2 Learning raises Rs.8-Cr

Bangalore-based education start-up K2 Learning Resources has raised INR 8 crore in angel funding. Founded in 2010 by Sripal Jain, K2 offers professional commerce education in areas like chartered accountancy and company secretary programme, through offline classes and also through online help and content. The firm plans to use the angel funding to set up tablet-labs in 100 colleges. The tablets would be loaded with online coursework, games and activities and other data relevant to commerce students. The firm is also planning to invest in content development and acquire similar businesses.

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.

October 16, 2013

Deal Alert: India Quotient invests in online wish list service Wishberg

India Quotient has invested Mumbai-based Wishberg, an online platform that enables users to share their product experiences and create wish-lists. Wishberg, founded by Pravin Jadhav and Kulin Shah, aims to allow users to share product and purchase intents, and discover reviews and experiences based on them. The company was previously known as Tyche’d and had launched an alpha version in July 2012, before rebranding to the current avatar. It has product listings from various categories like travel, cars, bikes, gadgets, electronics and real estate and local information across countries including India, Canada, Australia, Indonesia, Malaysia, UK and the US. 

 
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: India Quotient invests in sandwich restaurant chain Inbetween

Seed stage VC investor India Quotient has invested in InBetween, a quick food startup that specializes in sandwiches. InBetween has three outlets in Mumbai – at Kalina, Powai and Mahakali Caves Road. 

From the Venture Intelligence PE Deal database: The deal was completed in July 2013. Promoted by Haraka Food Pvt Ltd, InBetween also attracted a co-investment from Unilazer Ventures. Abhishek Shah of Unilazer and Madhukar Sinha of India Quotient had joined the company’s board. 

 
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.

October 15, 2013

Deal Alert: Silver Lake leads Rs. 250-Cr round for commodities trading software firm Eka Soft

Silver Lake via its growth capital fund, Silver Lake Kraftwerk, is leading a INR 250 crore funding round for a significant minority stake in Eka Software Solutions, a Bangalore-based provider of software for commodity trading. This round values Eka Software at an estimated INR 700 crore. The company has previously raised about $16 million (INR 95 crores) from Nexus Venture Partners along with Thailand-based GP Group.

The latest investment comes on the back of two global acquisitions by Eka. In July, the company acquired Australia-based commodity handling software vendor MatrixGroup and in April, it had acquired Canada-based EnCompass Technologies, a provider of energy transaction and risk management solutions. 

Source: Times of India

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: Data backup software firm Druva raises $25-M Series C led by Tenaya Capital

Data security solutions company Druva has raised $25 million in Series C funding led by US-based Tenaya Capital with participation from existing investors Sequoia Capital India and Nexus Ventures. Tom Banahan, Managing Director of Tenaya Capital, has joined the company’s board. Druva will use the new funds to support R&D, expand global sales and marketing and cloud infrastructure to support new deployment. 

Druva, founded in 2007, has over 2,100 customers and protects 1.7 million endpoints. It is also expected to employ 200 people by the end of the year, up from 124 at the end of 2012.
 
From the Venture Intelligence PE Deal database: Druva had raised $2.72 million in Mar-10 from Sequoia Capital India and the Indian Angel Network (including Rehan yar Khan and Sharad Sharma) and another $1.79 million tranche in Feb-11 from the same investors. In Aug-11, Nexus Venture Partners joined Sequoia for a $9.5 million round. (Subscribers to the database can login to view the company financials, valuation, deal structuring and other transaction details.) 

Source: NextBigWhat.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.

October 10, 2013

Deal Alert: IDG, Inventus invest $2-M in product recommendation engine Unbxd

Unbxd, a Bangalore-based startup focused on product recommendation, has raised a Series A round of $2 million (Rs 12.4 crore) from Inventus Capital Partners and IDG Ventures India. The funds will be used by Unbxd to strengthen its presence in Singapore and in the North American markets, while a substantial portion will also be used towards furthering its research and development efforts. 

This is the second round of institutional funding for the two-year-old startup, which had raised funding from Indian Angel Network in 2012. Unbxd's proprietary product recommendation platform, SmartEngage, provides search, navigation, merchandising and analytics solutions for e-commerce ventures, making it easier for them to showcase targeted and relevant products and recommendations for consumers. 

 
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: Aarin, Accel, IDG & Kitven invest Rs.27.5 Cr in biopharma co Theramyt

Aarin Capital, Accel Partners, IDG Ventures as well as Karnataka state government-backed KITVEN have invested INR 27.5 crore in Bangalore-based biopharma company Theramyt Novobiologics. Theramyt is developing therapies for cancer, rheumatoid arthritis and diabetes and will use the funding on research and development, hiring talent and infrastructure.

Theramyt is the second venture for scientists-turned-entrepreneurs Sohang Chatterjee and Kavitha Iyer Rodrigues. Their earlier biotech venture Inbiopro was acquired by Indian drug maker Strides Arcolab in 2012.

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: JustUnfollow acquires app maker behind JustMigrate and 3Crumbs

JustUnfollow, a provider of a Twitter management app, has acquired blog migration tool JustMigrate and social discovery app 3Crumbs, both developed by Borget Solutions. The founders of Borget Solutions will be joining JustUnfollow. The company sees this acquisition as a move to help the JustUnfollow’s next growth phase both in terms of people and products. The products will exist independently for a while before the company integrates them into JustUnfollow in a phased out manner. 

3Crumbs is a social discovery app that allows users to share interesting products for sale in any locality in their city. This information is available to other users of the app who may be looking for a similar product or products in a certain locality. 

JustMigrate on the other hand, is a tool that was developed to help users of Posterous to migrate onto other platforms such as Tumblr when Posterous shut down a few months ago. 

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.

October 09, 2013

Deal Alert: Flipkart tops up 5th round with addl $160-M

E-commerce leader Flipkart received an additional $160 million from new investors Morgan Stanley Investment Management, Dragoneer Investment Group, Sofina and Vulcan Capital as well as existing investor Tiger Global. The latest investments takes the total amount raised in the fifth round of funding to $360 million. Flipkart had earlier raised $200 million from existing investors including Naspers. The funds will be used to further build Flipkart's technology and supply chain capabilities, develop the talent pool and enhance the end-user experience. 

Flipkart's other investors include Accel Partners and ICONIQ Capital. Flipkart has raised close to $400 million in four rounds of funding so far. Flipkart offers products across more than 17 categories like books, apparel, footwear, toys, accessories, sports and fitness and e-Books. 

 
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.

October 08, 2013

Deal Alert: Apax buys out outsourced product development firm GlobalLogic for $420-M

Apax Partners has acquired US- and India-based, VC-backed outsourced product development firm GlobalLogic for $420 million (Rs 2,578 crore). Founded in 2001 as IndusLogic, GlobalLogic, founded by Rajul Garg, Sanjay Singh, Manoj Agarwala and Tarun Upadhyay, has development centres in India, Ukraine and Argentina. 

It reported around $250 million is sales. The valuation is reportedly more than ten times its operating profit. The firm had appointed JP Morgan to find a buyer after shelving IPO plans. GlobalLogic, with 6,500 employees, will operate as an independent entity and its current CEO Shashank Samant will continue to head the business. Two years ago, Apax backed iGate Corp to buyout Patni Computer for $1.2 billion. 

From the Venture Intelligence PE Deal database: In February 2008, NEA, Sequoia Capital India and New Atlantic Ventures had invested $29.50 million in GlobalLogic. In April 2010, Goldman Sachs had invested additional capital in the company. 

Source: Times of India

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: Sequoia to invest Rs.24.7 Cr in process automation software firm Idea Device

Sequoia Capital India has invested $4 million (INR 24.7 crore) in Idea Device, a Bangalore-based process automation startup. Founded by former Oracle executives Saju Pillai and Aaditya Sood in 2009, Idea Device will use the funding to expand in markets such as US and Singapore and also to hire talent and expand its product suite. 


 
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: Hyderabad Angels, VertExperts invest in online personal finance firm IndianMoney.com

Bangalore-based Suvision Holdings Pvt Ltd, which runs financial education company, IndianMoney.com has raised funding from Hyderabad Angels. Pradeep Mittal, former head of Magna infotech's Indian operations, has joined the company’s board. VertExperts Consulting LLP is the other investor in the company. 

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.

October 07, 2013

Deal Alert: Jungle Ventures, Samir Bangara invest in mobile payments firm Pokkt

Mobile advertising platform Pokkt has raised funding from Jungle Ventures and Samir Bangara, the Co-Founder & Managing Director of Qyuki. Pokkt is an alternate mobile payment platform for people wanting to sell digital goods and services through an ad funded model. 

From the Venture Intelligence Incuabtion Deal database: In October 2012 Pokkt was incubated by GSF Accelerator. The company received $28,000 in funding and stand a chance at an investment of up to $3 million from GSF Superangels. 

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.

Deal Alert: Rural utility vehicle maker Evomo raise funds from IIM-A’s CIIE

Ahmedabad based Evomo Research & Advancement Pvt. Ltd, a rural transportation enterprise, has raised funds from IIM Ahmedabad’s Centre for Innovation Incubation & Entrepreneurship (CIIE). The company will use the funds to refine its business model, develop new strategies and begin taking pre-orders.

Evomo, launched in 2010 Abhinav Das, designs and manufactures low-cost Rural Utility Vehicles (RUV) to replace illegal and dangerous transportation contraptions like Jugaads and Chakkdas. 

From the Venture Intelligence Incuabtion Deal database: In January 2013 IAN Incubator incubated Evomo Research & Advancement which was earlier incubated at the National Institute of Design. 

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.

Deal Alert: Godrej Consumer to buy 30% stake in salon chain B:blunt

FMCG firm Godrej Consumer Products Ltd (GCPL) entered the hair salon segment with the acquisition of 30% stake in Mumbai-based premium hair salon chain B:Blunt Hair Dressing Pvt Ltd. B:Blunt hair salon chain in run by siblings Adhuna Bhabani Akhtar and Osh Bhabani.

Started in 2005, it has 17 outlets spread across Mumbai, New Delhi, Hyderabad, Pune, Indore Bangalore and Dubai. GCPL’s current hair care business is spread across the hair colour, hair dye, mehendi and hair oil products. 

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.

October 06, 2013

Deal Alert: Nagpur social travel startup Touristlink joins African accelerator program

Holiday Deals Pvt Ltd, a Nagpur-based firm that runs social travel network Touristlink.com, has joined Kenya-based accelerator 88mph (88mph.ac). The start-up, founded by David Urmann and Jayesh Bagde, has also raised funds from a few angel investors as well. 

The company will use the funds to develop the portal and establish presence in the African market, besides marketing the service in India. Touristlink, founded in 2011, provides information regarding local tour operators, small hotel owners and travel agents. 88mph provides early-stage web/mobile companies with up to $100K in funding through a 3-month startup accelerator program. 

Source: Tech Crunch

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: The Morpheus incubates interior designer aggregation service Dwll.in

Mumbai-based P&P Associates, which runs online portal Dwll.in, has been selected for incubation by Chandigarh-based The Morpheus. Dwll allows home and business owners to choose interior designers through its platform and releases customer money to the selected designer in three stages during the execution of the project. The firm, founded by Pankaj Poddar and Parikshat Hemrajani, is currently working on 25 projects worth about INR 2.5 crore. 


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.

October 03, 2013

Deal Alert: Aavishkaar Goodwell leads Rs.21-Cr investment in Swarna Pragati Housing Microfinance

New Delhi-based Swarna Pragati Housing Microfinance has received primary infusion equity of INR 210 million led by Aavishkaar Goodwell, a financial inclusion fund. Existing investor Asia Pragati, a NBFC backed by PAG (Pacific Alliance Group), which holds majority stake in Swarna Pragati, has also participated in this round.

Set up and promoted by bankers led by A. Ramesh Kumar, former CGM, State Bank of India, Swarna Pragati Housing Microfinance has a portfolio of INR 18.5 crore. Operational since 2011, the company has built a customer base of over 3,000 borrowers, and targets to cater to one lakh households by 2018. 

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: Matrix Partners India invests in Stayzilla.com

Matrix Partners India today announced that it has acquired a significant minority stake in Stayzilla.com, as the sole investor in the first institutional round of equity funding for the Company. Stayzilla.com operates an online platform to research and reserve “value hotels” in more than 750 cities across India.

“The online hotel booking industry has been at a nascent stage for the last few years. It is now at an inflection point and I expect 40% of all hotel bookings in India to be done online within the next 5 years. The capital raised will be used to strengthen the team, increase our network to over 15,000 hotels and enhance our customer service operations. We are confident that with IAN and Matrix, we have a winning combination of investors and guides.” said Yogi Vasupal, co–founder and CEO of Stayzilla.com

Ravindra Krishnappa, Board Representative – IAN said “We, at IAN, are very pleased with this development. This is endorsement of both our belief in the Stayzilla team and our ability to identify and nurture young startups with great potential.” 

Amitabh Shrivastava, Lead Investor – IAN, added “Yogi represents the classic entrepreneur leader – one with passion, domain understanding and a high focus on execution. He, together with his co-founding team has leveraged both the mentoring and networks of IAN and scaled the company in a very short time to bring in value added investors like Matrix.” 

“Stayzilla operates at the intersection of two important trends – increasing penetration of hotel bookings online by consumers and increasing number of hotels from Tier 2/3 cities coming online (majority first on Stayzilla). It is our privilege to be associated with Yogi Vasupal, Sachit Singhi and Rupal Yogendra, the co-founders of Stayzilla.com, who have built a unique model to best serve the customers and the hotel operators and scale this marketplace.” said Avnish Bajaj, co-founder and Managing Director, Matrix India

About Inasra Technologies Private Limited:

Stayzilla comes from the house of Inasra Technologies. Incorporated in August 2005, Inasra is a Private Limited Company focused on providing the best of travel-related-stay options to business and leisure tourists. With a network of over 6,000 hotels in 750+ cities, Inasra has built technology and customer service processes that ensure customers never face any glitches or surprises even in the smallest of hotels and towns. Inasra has been recognized as one of the Top 6 Internet start-ups by India's premier start-up showcase event, Proto and as one of the ‘Hottest Top 30 Start-ups' by Tata Nen. Further information is available at www.stayzilla.com 

About Indian Angel Network:

Indian Angel Network is India’s only national, nimble and Asia’s largest business angel investors network of nearly 250 business angels investing in start-ups and early stage ventures. Built "By Entrepreneurs, For Entrepreneurs", entrepreneurs can gain access to the vast business network of IAN's influential members, strategic direction and operational guidance apart from financial investment which is critical for creating large, valuable companies. Indian Angel Network has funded over 50 start-ups across multiple sectors like IT, Mobile, Healthcare, Education and Hospitality across India and overseas and has made several successful exits. In 2012 alone, IAN invested over US$ 11 million in 17 start-ups making it almost a deal every 3 weeks. In 2013, IAN has already invested in 7 start-ups including an impact investment in a socially relevant venture and has provided some brilliant exits to its investor base – like 22 times in 5 years, over 6 times in 15 months of investment, etc. Further information is available at www.indianangelnetwork.com 

About Matrix Partners India:

Matrix Partners India is an investment firm with INR 3,000 crore under management. The firm invests in companies targeting the Indian consumer market at the seed, early and early growth stages with initial investments ranging from INR 1 crore to INR 75 crore. The firm has invested in several market leading companies including Quikr (online classifieds), Limeroad (social shopping for women), Ver Se (mobile utilitarian applications), U2opia (social mobile apps), Twist Mobile (mobile games), Centre for Sight (eye care chain), Cloudnine (maternity and infant care chain), Mewar Ortho (orthopaedic care chain) and TreeHouse Education (preschools) among others. Matrix Partners has a global network of funds investing in the US, China and India with US $3 billion under management. Further information is available at www.matrixpartners.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.

October 02, 2013

Vikram Akula and SKS Microfinance: The Saga Renews

Economic Times has a feature on SKS Microfinance and the company's founder Vikram Akula pegged on the recent move by SKS Trust which holds a 12.6% in the publicly listed company to nominate Akula to its board.


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.

PE investments decline 67% to $1.3 B in Q3’13; 9 month figure drops by 38%

IT deals claim 45% of pie; Buyouts in Manufacturing on the Rise

Private Equity firms invested about $1,300 million across 75 deals during the quarter ended September 2013, according to early data from Venture Intelligence (http://www.ventureintelligence.in), a research service focused on private company financials, transactions and valuations in India. The investment amount was 67% lower than that invested in the same period last year ($3,910 million across 126 transactions) and less than half that invested during the immediate previous quarter ($2,661 million invested across 109 transactions). Note: The above figures do not include PE investments in Real Estate.

The latest numbers take PE investments in the first nine months of 2013 to $5,059 million (across 281 investments) down 38% compared to the corresponding period of 2012 ($8,152 million across 373 investments).

There were only two PE investments worth over $100 million during Q3’13 compared to five such transactions in the same period last year and eight during the immediate previous quarter, the Venture Intelligence analysis showed.

Baring Private Equity Asia catapulted itself to the top of the PE investment charts in 2013 with its INR 1,687 crore ($260-M) buyout of 41.8% stake in publicly listed IT Services firm Hexaware Technologies (from its promoters and existing PE investor General Atlantic). Including the mandatory open offer for an additional 26% stake, the deal value could go up by another INR 1,058 crore. The second largest transaction reported during Q3’13 was e-tailer Flipkart’s raising of an additional $200 million from existing investors including Tiger Global, Accel India, Iconiq Capital and South Africa-based strategic investor Naspers.

 Led by the Hexaware and Flipkart deals and accompanied by the $75 million commitment by Softbank to another e-tailer Snapdeal.com, IT & ITES companies grabbed almost 45% of the PE investments (by value) in Q3’13. (Outside of these three transactions, all the other IT & ITES investments during Q3’13 were lower than $10 million in size.)

IT & ITES ($582 million across 25 investments) was followed by Manufacturing ($185 million across nine investments) and Healthcare & Life Sciences ($140 million across 14 investments) as the most favored industries for PE investments in Q3’13. Buyout deals accounted for the top three Manufacturing industry investments: the INR 444 crore ($74 million) purchase of a 97.9% stake in Agile Electric by Blackstone; the INR 338 crore ($56 million) purchase of a 51% stake in Sansera Engineering by Citi and the other spin out of the general lighting business of listed auto lamps maker Halonix via a INR 160 crore ($24 million) investment by Halonix’s existing PE investor Actis.

VC type investments accounted for 52% of the investments during Q3’13 (in volume terms) compared to 54% in the corresponding period a year ago. The share of Buyout deals rose to 9% of the deals (in volume terms) from just 3% in the same period in 2012. Late Stage deals declined to 12% from 19%, while the share of listed company investments showed tick up to 17% (from 14%).

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.