While Acko General Insurance, a Mumbai-based startup backed by Binny Bansal, acquired online car buying portal VLer Technologies, Kabaddi Adda, a portal that specialises in sports-related content, raised seed capital from Artha Venture Fund
Binny Bansal-backed Acko acquires car retailing platform
Acko General Insurance, a Mumbai-based startup founded in November 2016, has acquired online car buying portal VLer Technologies, in a bid to strengthen its auto-ecosystem.
Financial details of the transaction, however, could not be ascertained.
The news pertaining to the acquisition comes in two months after the online insurance startup made headlines for raising as much as $65 million in a Series C funding round from a slew of high-profile investors including Flipkart co-founder Binny Bansal.
Established in 2016 by two IIT Bombay alumni, VLer works to simplify the broken car retail experience in India, thereby providing its customers a hassle-free experience while buying used cars. It is understood that post the acquisition, its co-founders will join the Acko Technology team.
Kabaddi Adda raises seed capital
Kabaddi Adda, a portal that specialises in sports-related content, has raised a seed funding amounting to Rs 1.5 crore (around $215,000) from early-stage venture capital firm Artha Venture Fund, according to an announcement.
The startup plans to use the capital to upgrade user experience and generate content in diverse languages as it gears up to reach out to kabbadi fans across the world.
For Artha Venture Fund, that marked its first close of its debut fund in 2018, this is one of the early investments. Its other portfolio companies include online peer-to-peer lending platform LenDen Club and Chotta Haazri Foods Pvt. Ltd that runs tea kiosks in Mumbai.
