Non-unicorn portfolio firms scout for new investors as Tiger Global takes back seat


VC Tiger Global is reducing the number of start-up deals in India and is pushing for consolidation.

India: Online grocery retailer BigBasket close to raising $120m from Sands Capital, IFC

Online grocery retailer BigBasket is very close to raising $120-million (about Rs 800 crore) as part of its latest funding round to take on rivals Grofers and PepperTap, as per a report in The Economic Times. US-based Sands Capital is participating in the latest round along with International Finance Corporation… Read more »

India: Patni scion invests $15m in Currae Hospitals; venture to raise $75m more

Apoorva Patni, son of Patni Computers co-founder Ashok Patni, has invested nearly $15 million (Rs 100 crore) in Patni Healthcare-promoted Currae hospitals, as per a report in The Economic Times. Besides, the hospitals’ chain would see an an infusion of additional about $75 million (Rs 500 crore) in the near… Read more »

India: Oyo Rooms looks to buy struggling rival Zo Rooms

Zo Rooms, which is scrambling to raise a fresh round of funds in order to avoid being sold, three people familiar with the matter said.

India: Wipro buys German technology firm Cellent for $78m

Wipro Ltd has bought Cellent AG, a German technology company that implements and maintains SAP (systems applications and products) software for clients in automobile and manufacturing segments, for $78 million. The purchase is the latest move by India’s third largest software firm to scale up its business in the DACH… Read more »

‘We can compete & live together,’ says Ringo founder Bhavin Turakhia after telcos block startup’s service

Bhavin Turakhia is very familiar with the startup landscape, having founded his first company when he was just 17. But he did not expect that his latest venture Ringo, which had launched the cheapest call service in India at just 19 paise an hour, would be blocked by major telecom… Read more »

India: Competition Commission raises concerns on PVR’s $75m acquisition of DT Cinemas

India’s largest multiplex chain PVR Ltd may have to sell some of its screens in Delhi to get clearance for its Rs.500-crore acquisition of DT Cinemas, two people familiar with the development said. According to the first of the two persons, who did not want to be identified, the Competition… Read more »

India: Phonebook app 6degrees gets funding from Mohandas Pai, others

6degrees, a self-updating phone book app, has raised an undisclosed amount in a seed funding round led by TV Mohandas Pai, a serial investor and former Infosys board member, as per a report in e27.  The funding round also saw participation from a group of angel investors in the mobile… Read more »

Delhi Govt, University of Chicago partner to fund best startup ideas to curb pollution

The Delhi government in partnership with the University of Chicago Laboratory Schools will provide Rs 2 crore in seed funding to startups that come up with best sustainable solutions to curb rising air and water pollution levels in the capital. The government has invited proposals from startups with their respective… Read more »

India: Sun Life Financial to increases stake in Birla Sun Life Insurance to to 49%

Sun Life Financial Inc. of Canada will increase its stake in Birla Sun Life Insurance Co. Ltd, a joint venture with Aditya Birla Nuvo Ltd, from 26% to 49% by spending Rs.1,664 crore to buy additional shares from the Indian partner. Sun Life said increasing the stake is in line… Read more »