Ishita Russell

Senior Writer & Content Specialist, India

India mulls 100% FDI in marketplace format of e-commerce

To attract more foreign investment, the Indian government is considering permitting 100 per cent foreign direct investment in the marketplace format of e-commerce retailing, according to a report by Press Trust of India quoted in The Economic Times. The norms on FDI in the sectors of e-commerce, and IT and… Read more »

India: Last mile logistics tech firm Gray Routes raises second round of angel funding

Gray Routes Technology Pvt. Ltd, a last mile logistics technology solution provider,  has raised its second round of angel funding of an undisclosed amount. The investors include Mahesh Parasuraman, co-founder of VC firm Amicus Capital; Rahul Gautam, a Hong Kong-based investment banker and a group of other angels from The… Read more »

India: JoulestoWatts raises pre-Series A from Saha Fund, Manipal Global Education

India-based talent-collaboration firm, JoulestoWatts, has raised pre- Series A funding of an undisclosed amount from Manipal Global Education Services Ltd and Saha Fund, according to a report in The Economic Times. The company plans to utilise this latest round of funding to build its team and ramp up its technology… Read more »

India: Piramal plans to demerge healthcare & financial services business

Ajay Piramal-led Piramal Enterprises is planning to demerge its healthcare and financial services businesses to grow the unrelated divisions separately, says a report in The Economic Times. The Piramal Group, has diversified from being primarily a pharmaceutical business. It has ventured into areas including finance, private equity and real estate… Read more »

India: Biomass cooking stove maker Greenway raises $2.5m from Pramod Bhasin, others

Global non-profit investment organisation Acumen, has partnered with Vikram Gandhi, founder of Asha Impact, a platform to address India’s developmental challenges, and former Genpact CEO Pramod Bhasin, to invest $2.5 million in biomass cooking stove maker Greenway Appliances, according to a report in The Economic Times. The investment is part of Greenway’s Series-A… Read more »

India Dealbook: MRSS buys 30% in EMTEE Research, Loofre plans $1m investment

MRSS has made EMTEE Research its wholly-owned subsidiary by acquiring the remaining 30 per cent stake for an undisclosed amount. And online table reservation startup Loofre plans to invest $1 million for the expansion of its operations in India and overseas. MRSS acquires remaining 30% stake in EMTEE Research Majestic… Read more »

India: Inc42 raises pre-Series A funding from Unicorn, Aarin Capital, others

Media startup Inc42 has raised an undisclosed amount in its pre-Series A funding from a number of investors including Unicorn India Fund and Mohandas Pai’s fund, Aarin Capital. In a statement Inc42 said there were a total 42 investors who participated in this round including Singapore Angel Network, Singapore-based M&S Partners Pte… Read more »

India: Weddingz raises pre-Series A funding from Sixth Sense Ventures

Mumbai-based L-Fast Brands Pvt. Ltd, which owns and operates Weddingz, an online market for wedding venues and vendors, has raised an undisclosed sum from consumer-focused venture capital firm Sixth Sense Ventures, according to a report in The Economic Times. The investment comes almost two months after the company raised over $1… Read more »

IFC to lend up to $62m to Actis-backed Ostro Energy for new projects in India

International Finance Corporation, the lending arm of World Bank, will lend up to $62 million to Ostro Energy Pvt Ltd, a renewable energy platform backed by private equity firm Actis. Actis is a global private equity firm focusing exclusively on emerging markets in Asia, Latin America and Africa with $7.6 billion assets… Read more »

IFC to extend $40m debt for SRF’s greenfield facility in India

International Finance Corporation, the private lending arm of World Bank, will extend a financing of up to $40 million to SRF Ltd  for its proposed greenfield facility for the production of BOPET film in India. While the total cost of the project is estimated at around $58 million, IFC is considering… Read more »