Jewellery portal raises $450k from Indian Angel Network


Gurgaon-based Fourseven Services Pvt. Ltd, which runs jewellery and accessories portal, on Thursday said it has raised Rs.3 crore from early stage investor Indian Angel Network (IAN). The round was led by Sumit Dhingra and Rajiv Mehta, who will also join the company’s board. The firm will use the… Read more »

India: Healthcare app provider Medinfi raises funds from individual investors

Medinfi Healthcare Pvt. Limited, which provides an Android app to help users locate the nearest doctors and hospitals for their everyday check-ups, on Thursday said it had raised Rs.2 crore from individual investors and entrepreneurs. The investors include Ram Kumar Kakani, professor at management institute XLRI, Pradeep K. Jaisingh, chairman,… Read more »

India: Nalanda Capital offloads 6.3% more in Triveni Engineering

PE firm Nalanda Capital through its affiliate Nalanda India Fund Ltd has sold 6.33 per cent stake more in sugar manufacturing firm Triveni Engineering & Industries Ltd through an open market transaction. As first reported by DEALSTREETASIA that the PE firm offloaded 2 per cent stake in Triveni Engineering during… Read more »

India: Online real estate marketplace HeyPillow raises $3m fom Hampton Capital

HeyPillow, an online real estate marketplace, has raised $3 million (about Rs 20 crore) in Series A funding from Hampton Capital, according to a statement. The startup was co-founded in 2014 by San Francisco-based Stan Dong, formerly a research scientist at Stanford University in California. It gives home buyers, sellers and… Read more »

India: Delhi court asks Centre to probe FDI violations by 21 e-commerce websites

The Delhi High Court on Thursday ordered the government to investigate 21 e-commerce websites for possible violations of foreign direct investment laws. While the names were not disclosed, Mint has independently ascertained the identity of the websites. All of e-commerce’s biggest names including Flipkart Ltd and Snapdeal (run by Jasper… Read more »

Fairfax India hikes stake in agri-warehousing firm National Collateral to 88%

Canada-based Fairfax India Holdings Corporation has increased its stake in agri-warehousing firm National Collateral Management Services Ltd to 88 per cent by acquiring an additional 15 per cent stake in the company, a Fairfax India spokesperson told DEALSTREETASIA. Fairfax India invested little over Rs 160 crore ($24.2 million) in National Collateral to raise… Read more »

India: ah!Ventures invests in AHA Taxis; SenseGiz raises $500k from Karnataka Semicon

AHA Taxis, an online aggregator for outstation travel, has raised an undisclosed amount in pre-Series A round of funding from venture fund ah!Ventures. In another deal, SenseGiz, one of the earliest makers of smartwatches, has raised $500,000 in funding from Karnataka Semiconductor Venture Capital. AHA Taxis secures funds from ah!Ventures AHA Taxis,… Read more »

Indian pharma firms Cipla, Glenmark in race for hived-off Teva-Allergan generics in US

India-based Glenmark Pharmaceuticals Ltd, Cipla Ltd and Sun Pharmaceutical Industries Ltd are planning bids for Teva Pharmaceutical Industries Ltd‘s US generic products, which are expected to go for around $500-800 million. These three companies are among some 30 companies, which are bidding for the Israel-based Teva’s portfolio. The second bid of… Read more »

Enough room for PE, alternative funding play as Indian realty seeks debt refinancing of $4.5b

India’s top 25 property developers, which account for nearly 95% market capitalization in the real estate sector, are likely to face risks in refinancing about Rs.30,000 crore of debt, ratings firm Crisil said in a report on Wednesday. The slowdown in demand over the past two years has led to a… Read more »

India: State-owned ports to be corporatised in two-phased reforms

The shipping ministry has drafted a two-stage plan to convert 11 of the 12 ports owned by the Union government into corporate entities from the existing trustee setup in a much-delayed structural reform of these harbours that handle about 57% of the country’s overseas cargo shipped by sea. As a… Read more »