India Dealbook: Info Edge backs Gramophone; Winjit, Purple Style Labs in M&A news

Photo: Reuters

Agri-tech startup Gramophone has raised Rs 24 crore (about $3.4 million) in Series A funding from Info Edge, and others. In the M&A space, RIB Software SE has acquired a 15 per cent stake in Nashik-based software firm Winjit Technologies while Purple Style Labs Pvt. Ltd has acquired Pernia’s Pop Up Shop.

Gramophone raises $3.4m from Info Edge, others

Indore-based agri-tech startup Gramophone on Tuesday said it has raised Rs 24 crore (about $3.4 million) in Series A funding from Info Edge, Raveen Sastry (Co-founder of Myntra.com), Asha Impact and Better Capital.

Founded in 2016, Gramophone provides actionable agronomic insights coupled with last-mile delivery of agriculture inputs to farmers through a smartphone app and a call centre.

The startup will use the investment to invest aggressively on product, data science and scale operations across geographies.

RIB Software picks stake in Winjit

Germany’s RIB Software SE has acquired a 15 per cent stake in Nashik-based IoT, AI, ML and Blockchain software provider Winjit Technologies Pvt. Ltd, it said in a statement.

RIB Software also has the option to acquire a further controlling interest in Winjit through call options exercisable over the next 4 years.

With over 300 IT experts in New York, Johannesburg, Bangalore, Nashik and Pune, Winjit claims to support global clients on digital transformation in more than 35 countries, with a strong focus on the US market.

Purple Style buys Pernia’s Pop Up Shop

Online premium fashion platform Purple Style Labs Pvt. Ltd on Tuesday said it has acquired multi-brand luxury fashion store Pernia’s Pop Up Shop for an undisclosed amount.

The acquisition will enable Purple Style Labs to build an omni-channel fashion platform that will meet the fashion needs of Indians in the country and across the world, it said in a statement.

Following the acquisition, Pernia’s creative head Pernia Qureshi has stepped down from her position, and all of Pernia’s Pop-Up related IP and business will now be completely owned and managed by Purple Style Labs.