India Dealbook: Binny Bansal-backed Acko buys VLer; Kabaddi Adda raises seed capital

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.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.