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Mauritius fund sells stake in Savita Oil; Eyestem, SaveIN, Scenes raise money
Photo Credit: 123RF.com

Pari Washington India Master Fund has sold 2.92% stake in Mumbai-based petroleum specialties manufacturer Savita Oil Technologies Ltd, a disclosure to the stock exchanges said.

The Mauritius-based entity of non-banking financial firm CIM Group now owns 0.29% of the company.

The sale sum is estimated at around Rs 47.29 crore, going by the closing price of Rs 1,124.5 per share on May 20 when the transaction took place.

Eyestem

Early stage venture capital fund Endiya Partners has invested an undisclosed sum in cell therapy company Eyestem.

This funding will allow Eyestem to scale up its platform and create affordable cell therapies. “This investment will enable Eyestem to reach their goal of becoming one of the first few companies in the world to develop a treatment for dry age-related macular degeneration, the leading cause of incurable blindness affecting almost 170 million people – mostly above 50 years of age – across the globe,” the company said in a statement.

Founded by a team of ophthalmology, cell therapy and clinical trial experts, Eyestem has created a platform for allogeneic and scalable cell therapy. 

SaveIN

Social finance-based neobank SaveIN has raised an undisclosed amount in a pre-seed funding round from domestic and international angel investors and individuals.

Gurugram-based SaveIN is targeting India’s personal loans and personal finance markets.

The company, founded by banker Jitin Bhasin, launched the beta phase of its operations in April 2021. It has recorded over 10,000 downloads of its mobile app on Google Play.

Scenes

Blume Founders Fund, iSeed Ventures and Cred founder Kunal Shah among others have participated in a pre-Series A funding round of Bengaluru-based startup Scenes.

“Scenes, a community platform by Avalon, today announced that they have raised an undisclosed amount in pre-Series A funding from angels including Shah, Gaurav Munjal, Kalyan Krishnamurthy, Tanmay Bhat as well as giants like Tanglin Ventures, Better Capital, Whiteboard Capital, iSeed Ventures and Blume Founders Fund," the company said in a statement.

The funding will be used towards product development and growth of the platform, it said.

Scenes hosts voice and chat communities. In the next few months, it aims to offer a full-fledged community engagement suite. Its base has expanded 70-80% per month in terms of daily and monthly active users since its launch in March 2021.

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