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November 29, 2013

Rajiv Bajaj, The Maverick Scion

From the Business Today cover story profile of the Bajaj Auto Managing Director in the context of Bajaj Auto's plans to launch a controversial Quadricyle:

The company had already proved itself to be an outlier by not taking on an equity partner who would feed it technology. Each of its rivals had one. Hero and Kinetic had Honda, TVS had Suzuki, Escorts had Yamaha and LML had Piaggio. Bajaj had Kawasaki, but only as a technology supplier, with no equity. "Not having an equity partner that provided the technology, such as Honda for Hero, gave us the opportunity to learn. What we got was technical drawings from Kawasaki. The process, the why and the how, and the manufacturing were not transferred completely from Kawasaki. We made mistakes, but we learned," says Joe.... By the turn of the century, Bajaj began to become self-reliant in technology. The last motorcycle it built with Kawasaki's technology was the Eliminator in 1999.


...The well wishers of Indian manufacturing groaned in unison when a strike broke out on June 25 at Bajaj Auto's Chakan plant, near Pune. It would only make the slowdown worse. But they had not reckoned with Rajiv Bajaj.

...After 40 days, Bajaj took the unusual step of giving the workers a week to end the strike. Else, he would shift most of the production out of Chakan to his other plants in Aurangabad and Pant Nagar. The strike ended a day after the deadline. Union leaders tried to save face with the pretexts of the slowdown and the festival season.

"The strike was withdrawn unconditionally. After a few days of the strike, we managed to produce about 1,900 Pulsars at Chakan and 1,200 to 1,300 in Aurangabad. So there was no real loss in retail," says S. Ravikumar, Head of Business Development. "I think everyone has understood that when Rajiv says something, there is a high probability he would go ahead and do it."
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Startup Events Galore

From a Business Today article on the phenomenon:

http://media2.intoday.in/btmt/images/stories//august2013/start-upevents_071513011248.jpg
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.

November 28, 2013

Deal Alert: RVCF, IvyCap join existing investor IDG in follow-on funding for security tech firm Aujas

Information risk management services company, Aujas Networks has raised Series B funding from Rajasthan Venture Capital Fund (RVCF), IvyCap Ventures and existing investor IDG Ventures India. Girish Gupta of RVCF and Vikram Gupta of IvyCap Ventures will join the company’s board. The current investment will be used to fuel organic growth. 

Aujas, founded in 2008 was incubated by IDG ventures through an Entrepreneur in Residence program. The company now has presence in India, Middle East and the United States and serves customers in the banking and telecom sector. Aujas also works with the government on cyber security. Nearly half of the company’s business comes from the United States and Middle East. Aujas currently employs 180 people. 

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: Freshdesk raises $7-M funding from Accel Partners, Tiger Global

Chennai-based online customer support and helpdesk solution company Freshdesk has raised $6.99 million from venture capital firm Accel Partners and Tiger Global in a fresh round of funding.

From the Venture Intelligence PE Deal database: In November 2011, Accel India had invested $1 million and in April 2012 Tiger Global and Accel India had invested $5 million in Freshdesk 

 
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.

November 27, 2013

Deal Alert: Omnivore buys minority stake in aquaculture diagnostics equipment firm Eruvaka

Agri-business focused Investment firm Omnivore Partners has bought a minority stake in Eruvaka Technologies Pvt. Ltd, a Vijayawada-based maker of diagnostic equipment for aquaculture farmers. Eruvaka Technologies, founded last year, has developed a solar-powered product that integrates sensors, mobile connectivity and decision-making tools to monitor aquatic farms. The product allows shrimp and fish farmers to monitor their ponds and remotely control automated equipment such as aerators and feeders thus reducing cultivation risk. 

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: Experifun, Sudiksha receive seed funding from Edupreneurs

Education start-ups Experifun and Sudiksha Knowledge Solutions have been selected for seed funding in the inaugural ‘Edupreneurs’ programme, a partnership of Pearson and Village Capital. 

Led by a team of alumni from the IIT and IIM (A), Experifun helps science teachers bring their subject to life by providing them with kits and activities to conduct classroom experiments. Designed in its R&D lab in Bangalore, Experifun products are patentable, affordable and suited to both urban and rural schools. 

Sudiksha operates pre-schools in underprivileged urban neighbourhoods through an innovative model that recruits local women to run branches under an incentivised profit sharing scheme. 

 
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: KKR invests $200-M in Gland Pharma

Gland Pharma Limited ("Company" or "Gland Pharma"), a leading Indian pure-play generic injectable pharmaceutical products company, today announced an agreement under which KKR, a leading global investment firm, will acquire a minority stake in the Company for approximately US$200 million, including KKR's acquisition of the entire stake held by Evolvence India Life Sciences Fund ("EILSF"), an existing private equity investor in Gland Pharma. 

Established in 1978 and based in Hyderabad, Gland Pharma develops and manufactures generic injectables primarily for the US market, and also for India and other semi-regulated markets. In 2003, Gland Pharma was the first company in India to get US Food and Drug Administration (FDA) approval for pharmaceutical liquid injectable products. Gland Pharma has also pioneered pre-filled syringe technology in India and exports products in this format to the US market. Having pioneered Heparin technology in India, Gland Pharma has a strong position in the US market for that product through its marketing partner. 

Gland Pharma Founder-Chairman P V N Raju said, "Gland Pharma is at an important juncture in its evolution where we have proven our sterile manufacturing capabilities, established ourselves as a high-quality manufacturer of complicated injectables products and achieved a track-record of strong financial performance. Our partnership with KKR will help us in our next phase of growth as we look to materially expand our manufacturing capacities and invest more in our development work with the goal of expanding our product registrations." P V N Raju also said, "We thank the Vetter family of Ravensburg, Germany, who are investors in Gland Pharma, for inspiring Gland Pharma in the niche field of pre-filled syringes. Vetter Pharma, owned by the Vetter family, enjoys a pre-eminent position globally in the field of pre-filled syringe technology." 

Gland Pharma Vice Chairman and Managing Director Dr. Ravi Penmetsa added, "We are very excited about the Company's future given our strong pipeline of innovative injectable products that are awaiting FDA approval. In addition to securing growth capital, we look forward to leveraging KKR's global network of relationships to help enter new markets." Dr. Ravi also said, "We wish to thank Evolvence India Life Sciences Fund for its contribution in positioning the Company on an impressive growth trajectory, aided in particular by the team's pro-active engagement with the Company in addition to the capital invested." 

Commenting on the agreement, KKR India Chief Executive Sanjay Nayar said, "Gland Pharma has a track record of strong financial performance as well as long-standing relationships with Indian and international pharmaceutical companies and we believe there is significant potential for it to grow these partnerships even further. We are excited to invest behind a high-quality promoter family and management team led by Dr. Ravi. We look forward to working closely with them to help build out the business and create value for all stakeholders." 

KKR's investment in Gland Pharma represents its fourth announced investment from the KKR Asian II Fund and its second overall private equity investment in India in 2013. The transaction is subject to regulatory approvals and other customary closing conditions.

About Gland Pharma

Established in 1978, Gland Pharma is a research-focused organization continuously developing niche products for the Indian and global pharmaceutical markets. It has pioneered Heparin technology in India and has a position of leadership in the GlycosAminoGlycans (GAGs) range of molecules. The company manufactures Active Pharmaceutical Ingredients (APIs) and injectable formulations for niche segments such as Osteoarthritis, Anti-coagulants, Gynaecology, and Ophthalmology. For further information, please visit the company's website at http://www.glandpharma.com/ 

About KKR

Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a leading global investment firm with $90.2 billion in assets under management as of September 30, 2013. KKR manages assets through a variety of investment funds and accounts covering multiple asset classes. KKR & Co. L.P. is publicly traded on the New York Stock Exchange (NYSE: KKR). KKR has a more than 20-year track record of healthcare investing around the world, including investments in HCA, Accellent, Ambea, Biomet, China Cord Blood Corporation, Genesis Care, Jazz Pharmaceuticals and PRA International. Most recently, KKR has announced its plan to invest in Panasonic Healthcare (Japan). The firm has invested more than US$1 billion in private equity in India since 2006. 

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.

November 26, 2013

Deal Alert: SVB releases report on Indian angel investments

Silicon Valley Bank has released the India Halo report providing a snapshot of investments made by angel groups in India from 2005 to 2012. The report shows that the Median Angel Round Size in India is Rs.1.52 crore (compared to about Rs.3.72 crore in the US). The Pre-Money Valuations in pre-Series A rounds is Rs.10 crore in India (compared to Rs.15.5 crore in the US). The report also provides a split up of angel investments by City (Mumbai and Bangalore accounting for about a quarter share of the pie each) and by sector (IT & ITES and Telecom/Mobile related sector accounting for more than 65% of the pie; followed by Manufacturing at 9%, Education at 7.9% and Life Sciences at 7.3% ) 

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.

November 25, 2013

Zomato investment signals ascent of Corporate VCs in India?

In the context of online restaurants review service Zomato raising about $20M with revenues of less than $2M, seed investment specialist Anand Lunia has a quora post on how corporate VCs (like Naukri, One97, etc) have more "courage, belief and patience" to take such leaps of faith than pure commercial VCs. Extract:


That a large proportion of Consumer Internet companies, at least in the past, have been funded by Corporate Investors. Perhaps regular VCs have preferred topline first businesses like restaurants, healthcare chains, pharma manufacturing (!).

The early stage VCs in India have done a decent job, however, of following these corporate nurtured ventures  with Series B/C investments, in a slightly herd like behaviour (the way everybody queued up recently for a certain on-line fashion co was funny.)
...The operating word for the failed ones was 'revenue'. The operating word for the successful ones was Product and Usage. Revenue is the best strategy for continuous funding rounds in India. Having a corporate venture fund who will go all the way up to $10-20 M investment without seeking validation from one more VC is a big advantage.

Going after a large market was another big mistake that many made. That explains the pivots pretty much every E-Commerce company made AFTER raising a large VC round. This also explains the pivots that many content companies did into  E-Commerce. What are the  chances that Zomato would have been doing table reservations/food delivery/gourmet food E-Commerce after raising the first $2M?  


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: Education content firm InOpen raises funds from Japan’s Benesse Holdings

InOpen Technologies, an education content company incubated in Indian Institute of Technology, Bombay (IIT-B), has raised a strategic investment in return for a small minority stake from Japanese education firm Benesse Holdings. Benesse has made this investment from the Benesse Social Investment Facility (BSIF), which invests in companies focused on solving social issues in education, child care and other related fields in emerging Asian countries and Japan. InOpen is the first investee of BSIF. InOpen and Benesse will collaborate to jointly develop products for the global education market, starting with the USA and Japan. Unitus Capital advised the company on this transaction. InOpen is also looking to attract an investment from a financial and/or impact investor. 

In August 2011, venture capital firm Ventureast had invested $500,000 in a seed round for a minority stake in InOpen. Co-founded by Rupesh Kumar Shah and Dr Sridhar Iyer in 2009, InOpen's flagship product is ‘Computer Masti,’ a computer science learning solution that has been implemented in over 200 schools and used by 5,00,000 students in India. It has recently introduced a Science curriculum, Small Science. InOpen achieved break-even in FY2012, and has seen three times growth from 2010-11. It has two revenue streams: schools and governments. In schools, it supplies content, teachers and system administrators. InOpen works with the governments of Assam and other states to teach government school students and junior employees. 

Benesse, which was established in 1955 as a publishing company, is now engaged in education, lifestyle, senior/nursing care and language/leadership training businesses in Japan and 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.

Deal Alert: Rajan Anandan invests in online food ordering service TravelKhana

Google India head Rajan Anandan has acquired minority stake in TravelKhana, an online food delivery service for railway passengers. Anandan and associates of Pushpinder Singh, chief executive of New Delhi-based Duronto Technologies Pvt Ltd, which owned and operated TravelKhana, have together invested about Rs 3 crore in Travelkhana. In October, Duronto Technologies had raised an undisclosed amount from Palaash Ventures. 

 
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.

November 24, 2013

Deal Alert: First Light invests in pre-school chain Sudiksha

Sudiksha Knowledge Solutions, which runs 22 pre-schools in and around Hyderabad, has attracted an investment from US-based First Light Investment. Sudiksha works mostly in slums and among low-income communities with 600-odd students.

From the Venture Intelligence Social VC Investments database: In Nov-12, Sudiksha had raised capital from Impact Circle. 

 
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: Trivone Digital acquires Godot Media

Trivone Digital Services, a digital media and content company backed by Accel Partners, has acquired Bangalore-based content services company Godot Media. Trivone will now use services offered by Godot Media such as article and blog writing, copyright and SEO services, apart from handling social media accounts for clients to expand its offering. Godot is self funded and includes companies such as ING, Sotheyby’s and Slide.ly among others as clients. 

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.

November 21, 2013

Entrevista with Cosmic Circuits Founder Ganapathy Subramaniam

Cross posted from the Entrevista Blog



Interview with Ganapathy Subramaniam, Founding-CEO of Bangalore-based semiconductor tech company Cosmic Circuits. (Cosmic was acquired in early 2013 by Silicon Valley-based, Nasdaq-listed electronic design giant Cadence.) The interviewer is fellow entrepreneur Chandu Nair.

The Podcast can be downloaded from here.

(Use Right Click > Save As to save the file to your desktop)

Highlights

Reading the Wind
How Ganapathy, as part of visiting customers in October 2012, realized that Cosmic Circuits could no longer remain an independent company. (Its customers and partners wanted a strong Number 2 player in the segment to provide a balance to the Number 1 player, Synopsis.) 

Making the company Due Diligence ready
How Cosmic's decisions to rope in a Big 4 audit firm (just five years into its existence) and go in for an ISO certification, stood it in good stead when it came to due diligence at the time of its acquisition. Ganapathy advises that, once the company grows to a certain size, even as the founders enjoy the fruits of that growth, they would do well to take the time and effort to streamline processes.

Valuing Customer Traction over Venture Capital
Why Cosmic Circuits passed on a term sheet from a Silicon Valley VC within days of starting up.

Importance of separating lines of businesses - even in a startup 
"Startups should live and die by its focus on one line of business," says Ganapathy. If one of the business lines is a cash cow, the "negativity" of the failing businesses does not reach the CEO. Specific to Cosmic, in hindsight, the company would have been better off it had separated the fabless semiconductor business from the IP business - something it did as part of the sale of the IP business to Cadence.

Focus on productivity versus putting in long hours
A firm follower of Stephen Covey's "Seven Habits of Highly Effective People," Ganapathy believes leading a balanced life - whether it is ensuring time for family or playing badminton almost everyday - helped ensure his stress levels were in control. (This outlook ensured that Ganapathy's approach to work as the CEO of Cosmic wasn't too different from that at TI.) A 14 hour or more of work just ends up making the founder irritable and leads to costly friction with colleagues, he says.

Attraction of Texas Instruments as a workplace
Apart from the great pay check, the ethical culture, the opportunities to learn from the best in the field and also the freedom to operate independently encouraged Ganapathy to continue with TI - effectively his first and last job as an employee - for a straight 16 years. When he was deputed to work in TI USA, he decided - on his own - that he would be more productive working from home and proceeded to do so for three months. And his supervisor never asked him about his whereabouts!

Impressions Left by Early Education
How his early school education (in the small town of Sivakasi) instilled a spirit of Nationalism - the echoes of which were felt later in his career, including in creating a vision for Cosmic (to build a highly valuable company out of India in the semiconductor technology space).

Man on a Mission
Ganapathy would like to help develop at least ten $100-M+ Semiconductor IP companies out of India over the next 15 years, by working with entrepreneurs, VCs and the government. He is also also making personal investments in startup companies in the sector.

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.

Digital marketing co Flamingos Media gets acquired by UAE-based Kreata Global

Kreata Global, a Facebook preferred marketing developer based in UAE, has acquired Flamingos Media, a Digital & Mobile marketing company based at Startup Village, Kochi.

Flamingos Media, which has a 6-member team, offers services in the field of Mobile Applications, Facebook Applications, Social Media & Viral Marketing.

Source: YourStory

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.

Telecom billing firm Qubecell acquired by US-based Boku

Boku, Inc., the global leader in carrier billing and cross-platform mobile payments, today announced the acquisition of Mumbai-based direct carrier billing firm, Qubecell. The agreement includes the purchase of all shares in Qubecell. All of Qubecell’s employees will be joining the existing Boku organization with the Founder & CEO of Qubecell, Ranjan R. Reddy, joining as part of the leadership team in Asia.

The acquisition of Qubecell provides Boku with direct carrier billing connections with four of the largest carrier networks in India along with a number of key local merchant relationships. Boku is backed by leading Silicon Valley entrepreneurs and venture capitalists including Andreessen Horowitz, Benchmark Capital, DAG Ventures, Index Ventures, Khosla Ventures, and NEA.
 
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: Hive Technologies invests in data analytics firm Flutura

Hive Technologies, an investment and incubation firm backed by brothers Arihant Patni and Amit Patni, has made its first investment - in Bangalore-based Flutura, which provides data analytics solutions with a special focus on machine to machine communications and also in the oil and gas vertical.

Hive offers seed financing of up to Rs 13 crore as well as technology and business support for data analytic start-ups.

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: TVC Skyshop raises addl INR 10 Cr from Morpheus Fund; expands to the Middle East

Morpheus fund, which had invested INR 42 Cr in the multi-channel virtual retailer TVC Skyshop in August for a stake of 8%, had recently invested additional INR 10 Cr in the company. With the funding, TVC SkyShop has also expanded its footprints in the Middle East region through a pilot project. Samara Capital had invested in TVC Skyshop in 2007 and holds a 22% stake in the company.

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.

November 20, 2013

Deal Alert: Blume Ventures invests in superhero T-shirt portal VoxPopClothing

Blume Ventures and a few other investors have invested in VoxPopClothing, an e-commerce website that sells limited edition T-shirts related to superheroes. The site, launched in September 2013, is a licensee of character T-shirts for brands like Disney, Marvel, DC Comics and Star Trek. Apart from selling through their own website, the company is also offering t-shirts via ebay. VoxPopClothing is also running contests to crowdsource designs to be later sold on the site. 

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: Sequoia to invest $15-M for a 20% stake in Cardekho

Sequoia Capital India is investing over $15 million for a 20% stake in Jaipur-based consumer internet company Girnar Software, which owns internet portals Cardekho, Bikedekho and Pricedekho. Cardekho is focused on creating an experience for consumers buying a new or used car and focused on creating business value to dealers across India. It also facilitates car finance and insurance. Pricedekho and Bikedekho are newer offerings from the Girnar stable.

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: Women’s fashion brands portal FabAlley.com raises funds from IAN

FabAlley.com, an online fashion brand for women, has raised seed funding from Indian Angel Network. The investment was led by IAN investor members Mohit Goyal and Tushar Singh. Tushar Singh would also be joining the company’s board. Launched in June 2012, 

FabAlley offers design-differentiated and fashion clothing and accessories for women. The portal intends to use the investment to add new categories in both apparel and accessories and to increase depth in existing categories. The online fashion brand also plans to use the investment to improve its technology, supply chain capabilities, warehousing and marketing. 

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.

November 18, 2013

Entrevista with Palem Srikanth, Founder of logistics software maker Four Soft


Cross Posted from the Entrevista Blog




In this audio interview ("podcast"), Palem Srikanth shares his amazing entrepreneurial journey - from a Stanford educated logistics executive with Hewlett Packard to returning to India and starting a Dosa restaurant chain to the tough lessons from making cross-border acquisitions to the recent sale of the logistics software business (to US Private Equity firm Francisco Partners-backed Kewill) for about Rs.275 crores. 

The Podcast can be downloaded from here.

(Use Right Click > Save As to save the file to your desktop)


Highlights:

  • Importance of Financial Strength in the Enterprise Software space

  • How persistence and investing in technology (to ensure Four Soft's products
     were cutting edge)  provided the maximum return - much more than the expensive acquisitions the company made 

  • Managing the confidentiality of the transaction involving a listed company - so that there is no misuse of insider information to trade in the stock 

  • Tapping of Ex-Colleagues/Bosses for Angel Capital 

  • Advantages of going public 

  • Pitfalls in acquiring an overseas company - how buyers need think through not just "how to bite it, but  also to swallow it and digest it". For example, issues like whether the target company is entrepreneurial enough to meet aggressive growth expectations; the regulatory issues in laying off people; conflicts of interest involved in buying a company (from a financial investor) where the management team aspires to itself own the company, etc. 

As if creating an Enterprise Software Product out of India has not been challenging enough, Srikanth  now has a parallel career in active politics - he is running for Parliament as part of the Telugu Desam Party. You can follow his political career into the 2014 elections and beyond on his web site at http://www.srikanthreddy.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.

November 17, 2013

Deal Alert: ah! Ventures, Calcutta Angels invest in crowd funding platform Ketto

Mumbai based online crowd funding platform Ketto has raised INR 77 lakh in angel investment from Club ah! and Calcutta Angels. The deal is the first impact investment made by Club ah! investors through ah! impact, its impact investing arm. 

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: Forum Synergies fund buys minority stake in online food orderubg service Justeat.in

A fund floated by Forum Synergies and Spain's Axon Capital has bought a minority stake in Bangalore-based online food ordering portal, Justeat.in. The company was until now majority owned by UK-based Just Eat Holdings Ltd. Justeat.in, which connects restaurants and consumers, will use the funds to hire engineers and marketing talent to scale up technology and set up operations in Chennai, Hyderabad and Pune. 

From the Venture Intelligence M&A Deal database: In Jan-11, Just-Eat had made its India entry by acquiring the Indian Angel Network backed HungryZone. 

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.

November 14, 2013

Deal Alert: Acumen invests $750-K in low cost diagnostic chain Asian Health Alliance

Social VC Acumen Fund has invested $750,000 in Bangalore-based Asian Health Alliance which owns and operates low cost diagnostic services under the brand name Asian Health Meter. The investment will enable the company to expand its radiology and pathology services using a hub and spoke model. The company expects to run 30 centers by 2016 and plans to conduct nearly three million tests by 2020.

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.

November 13, 2013

Deal Alert: Matrix Partners joins Tiger Global for Olacabs’ $20-M second round

Mumbai-based ANI Technologies Pvt. Ltd which runs online cab booking service, Olacabs, has raised Series B funding from Tiger Global and Matrix Partners India. The fresh funding would be channelized towards market expansion and scaling up technology infrastructure. The company had earlier raised Series A in 2012 from Tiger Global.

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: ApartmentADDA raises capital from Sharad Sharma, others

Bangalore-based startup ApartmentADDA that provides online software to manage residential complexes has raised funds from a group of Silicon Valley and Indian investors. The angel investors include Bhupen Shah, Sharad Sharma,Raghu Tarra,Vijay Anand and Zaheer Rattonsey. 

ApartmentADDA aims to build a network of accountants and facility managers and expand to international markets like Middle East,apart from large Indian cities.It will also use the money to develop technologies for new services like online concierge and appliance servicing.

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: Voice biometric firm Incights raises Rs.1-Cr

Incights Mobile solutions, a start-up company making voice-based biometric solutions, is raising about Rs 1 crore angel funding. The funds will be used for enhancing its capabilities and marketing. 


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.

November 06, 2013

Deal Alert: Sequoia, Info Edge invest Rs.228-Cr in online restaurants reviews service Zomato

Online food and restaurant listings platform Zomato has raised INR 227.6 crore from Sequoia Capital India and existing investor, publicly listed Info Edge, owner of online businesses including Naukri.com. Of this, Info Edge has invested about INR 57 crore by subscribing to convertible preference shares of Zomato Media Private Ltd. The rest, INR 170.6 crore came from Sequoia Capital India. Zomato will use the funds to expand global operations. With the latest investment, the company has now raised a total of $53 million (INR 324 crore).

InfoEdge will continue to be the largest shareholder in Zomato with a stake of just over 50%. Zomato earned revenue of INR 11.4 crore in fiscal 2013 and the estimated revenue for this fiscal year is about INR 36 crore. Zomato claims nearly 15 million users visit its website every month and earns about 65% of its revenue from India while the rest comes from overseas.

 
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.

November 04, 2013

Deal Alert: Microsoft Ventures invests in Bookpad and Praxify

Microsoft Ventures has invested in Pune-based Xtremum Solutions, maker of Praxify, a SaaS solution that enables doctors and clinics to manage their clinical practices. It has also invested in Bangalore-based Bookpad that enables embeding of popular document formats like .docx, .pptx, .xlsx & .pdf into application GUI besides offering document editing capabilities. 

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: Google invests $3.5 M in 10 Indian social impact projects

Google has invested nearly $3.5 mn in 10 Indian social impact organizations that were picked through a competition. Google Impact Challenge picked four winners who will receive $500,000 and six who will receive $250,000 each. The four who will receive $500,000 are: 

Agastya: to launch a network of motorbike science labs to address the lack of science equipment and digital resources for rural children. 

Digital Green: to scale a video hub and an online knowledge platform to help farmers gain the agricultural skills they need to lower their costs and increase their productivity. 

Janaagraha Centre for Citizenship & Democracy: to create online and mobile apps to connect citizens to their government representatives in urban India. 

Social Awareness, Newer Alternatives: to combine solar-powered micro-ionizing water purification and biodigesting technology to improve water and sanitation infrastructure for rural villages. 


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: Ananya Finance raises Rs.18-Cr from ISIS Fund, IDBI Bank

Ananya Finance for Inclusive Growth Private Ltd, a Non Banking Financial Company (NBFC) promoted by Indian Foundation for Inclusive Growth (IFIG) Trust, has raised INR 18 crore Series A equity capital from WWB ISIS Fund and IDBI Bank. While ISIS has invested INR 9 crore in Compulsorily Convertible Preference Shares (CCPS) of the company, IDBI Bank has invested INR 9 crore via Optionally Convertible Preference Shares (OCPS). Unitus Capital advised the company on this transaction. 

Incorporated in 2009, Ananya lends to microfinance institutions. Till date, it has provided assistance of INR 506 crore to 130+ organizations across 17 states and claims to have benefitted more than 5,00,000 poor people.

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: UK’s DFID to invest Rs 42-Cr across Glocal Healthcare, Gramco Infratech, Shikhar Dairy

The British Government’s Department for International Development (DFID), through its Rs 400 crore (40 million pounds) Samridhi Fund, will invest 4.2 million pounds (Rs 42.38 crore) in Glocal Healthcare System (Rs 24.6 crore), Gramco Infratech (Rs 14.7 crore) and Shikhar Dairy (Rs 1.9 crore). Glocal Healthcare System will use the money to operate a chain of affordable hospitals benefitting 1.2 million rural patients in low-income states by 2020; Gramco Infratech will build agricultural warehouses to provide storage and value added services to more than 3,000 farmers every season in MP; and Shikhar Dairy will set up a professionally managed dairy that will allow 300 landless rural poor to own cows and a dairy in the Jhansi district of UP. 


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: Manipal Integrated Services acquires youth hostel firm Woodstock Ambience

Manipal Integrated Services, a part of Manipal Education and Medical Group (MEMG), has acquired Woodstock Ambience, a Bangalore-based provider of gated living for students and young professionals. 

Woodstock Ambience has been in operation for over seven years and is built on 2+ acres land. The facility can accommodate over 1,000 people which offers both single and double occupancy options. Its clients include IBM, Infosys, Hewlett-Packard, TCS and Wipro.


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.