Lightbox Ventures is seeking to close 2 more deals with more mature tech startups in India in order to completely deploy capital from its second fund, which it closed in 2014.
By Sayan Chakraborty
Between July and September, InnoVen Capital participated in 15 deals including Oyo, RAW Pressery, Rentomojo, Treebo, Fab Hotels, HolaChef, Faaso’s, Crownit, Voonik and Bluestone.
“According to our plan by 2020, we want to have $500 million of business, which will be funded by around $200 million of equity and $300 million of debt and this will be across Asia. In Singapore we have already started doing deals, we’ve done some cross-party investments. China is still work in progress, we expect to be on the ground in the next 6-9 months,” Vinod Murali.
About 66 per cent of Indian food tech funding deals were in the seed or angel stages. There were hardly any deals at the Series D stage. Thirty seven per cent of Chinese food tech deals went to Series D companies, compared to just 13 per cent of such deals in the US, and 11 per cent in India. Only about 8 per cent of Chinese funding deals in food tech were at the seed or angel stage.
Investors this portal has spoken to in the last couple of months have been nearly unanimous about one thing: that the froth seen in valuations is swiftly coming to an end. Hedge funds are no longer as active in India as the first half of 2015,
Jaipur-based My Delivery Express Pvt Ltd, an on-demand hyperlocal delivery startup, is in talks with institutional investors to raise seed funding.
Indian prime minister Narendra Modi made several promises in his speech to an audience of startups and venture investors on Saturday. That has instilled hope that the country might become a more attractive destination for investment, at a time when funding activity has ebbed from the highs of mid-2015.
Last year, a host of startups delved into the on-demand food delivery sector, drawn by the large Indian market, easy funding from venture capital firms, and simple tech that goes into it. Competition among startups got heated, and a few of them were left struggling, unsure of their future. Some… Read more »
Logistics services provider Parsel has merged with Accord Ecom Solutions, a third-party logistics provider that counts India’s largest e-tailer FlipKart as its client. In a separate deal, test preparation site for government jobs MockBank has acqui-hired web and mobile services firm Litoro on a cash-per-equity basis. Logistics firm Parsel merges… Read more »
Existing investors Sequoia Capital, Lightbox Ventures participated in the round, after which investors hold majority stake in the startup