Tiger Global leads $40 mn funding in logistics-tech startup Loadshare Networks
Loadshare Networks Pvt. Ltd, which operates a technology platform for small and medium-sized enterprises in the logistics sector, has raised its Series C round of Rs 300 crore ($40 million) led by US-based hedge fund Tiger Global Management. Filter Capital and 57 Stars also came on board as new investors, ......
Bottomline: Fintech firm NeoGrowth reins in bad loans, comes out of the red
Fintech lender NeoGrowth managed to rein in its bad loans in the last financial year and came out of the red, marking a turnaround from the damage that the Covid-19 pandemic caused. The company’s performance is in line with the broader trend in the financial services industry that has seen an improvement owing to growing demand for loans as well as write-offs. Mumbai-based NeoGrowth, a non-banking finance ......
Jana SFB parent raising money to repay nearly $200 mn to GIC, TPG
Jana Small Finance Bank Ltd’s (SFB) holding companies Jana Holdings Ltd and Jana Capital Ltd are raising fresh capital from large investors including a sovereign fund and a private equity firm to repay almost $200 million (approximately Rs 1,600 crore) to some lenders, besides putting in fresh equity capital in ......
WestBridge Capital backs agri-tech firm Otipy
Agri-tech startup Otipy has raised Series B funding of Rs 235 crore ($32 million) led by homegrown private equity fund WestBridge Capital. Existing investors SIG and Omidyar Network India also participated in the round. The fresh infusion have come in six months for the startup, operated by Crofarm Agriproducts, which had secured ......
Reliance Industries unit tops up investment in Germany’s Nexwafe
Reliance New Energy Ltd, a unit of billionaire Mukesh Ambani-led Reliance Industries Ltd, has topped up its investment in German climate technology company NexWafe GmbH. NexWafe said in a statement it secured €30 million (Rs 264.2 crore) in a funding round from its existing investors including Reliance New Energy, Aramco Ventures ......
Matrix Partners bets on another ed-tech startup
Venture capital firm Matrix Partners India has made an investment in another startup in the education-technology segment, two persons privy to the development told VCCircle. The VC firm has spent nearly $1 million (Rs 7.4 crore at current exchange rate) for around 16% fresh stake in Bengaluru-based AntWak, the persons said ......
Modi's chip making plan flounders as firms struggle to find tech partners
Big companies including a Foxconn joint venture that bid for India's $10 billion semiconductor incentives are struggling due to the lack of a technology partner, a major setback for Prime Minister Narendra Modi's chipmaking ambitions. A planned $3 billion semiconductor facility in India by chip consortium ISMC that counted Israeli chipmaker ......
Travel SaaS firm ITILITE snags $29 mn from Tiger Global, Tenacity Ventures, others
Travel management startup ITILITE Technologies Pvt Ltd on Wednesday said it has secured Series C funding of $29 million (around Rs 221 crore) led by Tiger Global and Dharana Capital, with participation from existing investors Matrix Partners India and Tenacity Ventures. The Bengaluru-based firm plans to invest the fresh capital in ......
Blackstone bullish on India's data consumption trend
Blackstone is in talks with companies including Microsoft and Amazon to build Indian data centres for them to meet growing storage and processing demand, the CEO of its Lumina CloudInfra data centre platform told Reuters. COVID-19 created a shift in data consumption habits with more people working remotely and a spike ......
Sequoia Capital leads Series A round in ecommerce enabler GoKwik
GoKwik, an e-commerce enablement platform, has raised Rs 112 crore( $15 million) in a Series A round of funding led by growth stage investor Sequoia Capital India. The round also saw participation from existing investors Matrix Partners India and RTP Global. GoKwik, operated by Delhi-based Gokwik Commerce Solutions Pvt Ltd, had in ......
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