<article>Fashion e-commerce firm Myntra has acquired majority stake in actor Hritik Roshan&#8217;s lifestyle brand HRX. Also, Cuberoot Technologies has raised $500,000 from undisclosed investors.</article>

Fashion e-commerce firm Myntra has acquired majority stake in actor Hritik Roshan&#8217;s lifestyle brand HRX. Also, Cuberoot Technologies has raised $500,000 from undisclosed investors.
<h3>Myntra acquires majority stake in actor Hritik Roshan&#8217;s HRX fashion brand</h3>
<a style="color: #000080;" href="http://dealstreetasia.com/tag/flipkart" target="_blank">Flipkart</a>-owned fashion e-tailer <a style="color: #000080;" href="http://dealstreetasia.com/tag/myntra" target="_blank">Myntra</a> has acquired majority stake in <a style="color: #000080;" href="http://dealstreetasia.com/tag/hrx" target="_blank">HRX</a>, the active lifestyle brand co-owned by Bollywood actor Hrithik Roshan, and Exceed Entertainment.
The company did not disclose the quantum of stake acquired as well as cost of the acquisition. However, as per reports Myntra has picked up 51 per cent stake in HRX.
“Myntra has bought stakes from Hrithik and Exceed. Both Hrithik and Exceed will continue to be shareholders in HRX,” Myntra said in a release.
This move is in a bid to further strengthen Myntra’s successful private brands business, it added.
HRX was incepted in 2012 and was exclusively licensed to Myntra in 2013. It is on track to double its revenues to Rs 200 crore ($30 million) in the current financial year and is gearing up to go offline in the next financial year, the release said.
<h3>Cuberoot Technonolgies raises $500k in funding</h3>
Data-driven technology company <a style="color: #000080;" href="http://cuberoot.co/" target="_blank">Cuberoot Technologies</a> has raised around $500,000 from undisclosed investors.
Founded in April last year, Cuberoot offers an audience management platform that helps companies including brands, advertisers, agencies, publishers, etc. to leverage their data.It helps advertisers understand their audience better so that they cab reach out to the right customers a targetted manner.
The Gurgaon-based startup plans to use the latest funding to expand business across the country and to scale up growth parameters such as expansion of the technology team, enhancing product technology, investing in better infrastructure and strategic acquisitions, etc.
Cuberoot is also gearing up to launch its flagship product;  an audience management platform, also known as Cuberoot in the Indian market in the coming months. The company will also be incorporating bases in the Asia – Pacific market over the next 12-18 months.
Also Read:
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-myntra-to-buy-hrithik-roshans-hrx-brand-47903/" target="_blank">Myntra to buy majority stake in Indian actor Hrithik Roshan’s HRX brand</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-fashion-e-commerce-firm-myntra-acquires-rival-jabong-48523/" target="_blank">India: Flipkart group firm Myntra acquires Rocket-backed rival Jabong for $70m</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/india-myntra-acquires-tech-startup-cubeit-47098/" target="_blank">India: Fashion e-tailer Myntra acquires tech startup Cubeit</a>
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 Myntra has acquired majority stake in actor Hritik Roshan's lifestyle brand HRX. Also, Cuberoot Technologies has raised $500,000 from undisclosed investors.

India Dealbook: Myntra buys majority stake in HRX; Cuberoot Tech raises $500k

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India Dealbook: Myntra buys majority stake in HRX; Cuberoot Tech raises $500k

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