India Dealbook: HireXP, Magicpin raise funds; Marico exits Bellezimo

While recruitment solutions provider HireXP and hyperlocal discovery platform Magicpin have raised funds, FMCG major Marico has exited its investment in Bellezimo.

Knowlarity CEO backs HR solutions provider HireXP

Recruitment solutions provider HireXP has raised an undisclosed amount of funding from the CEO of tech firm Knowlarity, Ambarish Gupta.

British entrepreneur, Marina Zoltoverkh, also invested in the Gurgaon-based startup.

HireXP plans to use this latest funding to assemble a new product line, CamXP – Campus hiring and Inject AI in the existing platform. The funding will also be utilised to increase product sales in existing markets and also to enter newer markets by the end of 2018.

Founded last year by former global business head of Knowlarity, Vikas Kakkar. HireXP uses recruitment software to automate hiring workflow.

Marico sells its 45% stake in Bellezimo

Indian FMCG giant Marico has exited its investment in Mumbai-based Bellezimo Professionale Products Pvt Ltd, by selling its 45 per cent stake in the company back to the promoter.

According to a filing to the stock exchanges, Marico sold its entire stake to the promoters of the company for Rs 1.6 crore ($246,000).

In 2015, when it acquired stake in skincare products manufacturer Bellezimo, Marico had planned to use the startup’s salon channel to market and distribute its own hair and skin care products.

“After evaluating the long-term prospects of this investment, the company has now exited the venture,” Marico said.

Magicpin raises $1m venture debt from Trifecta Capital

Gurgaon-based hyperlocal discovery platform Magicpin has raised around $1 million from venture debt provider Trifecta Capital, according to a report by paper.vc quoting regulatory filings.

The funding comes a year after Magicpin raised $7 million funding from existing investor Lightspeed India Partners, Waterbridge Ventures, and two global family offices, among others.

According to regulatory filings, Samast Technologies Pvt Ltd, parent of Magicpin, issued 130 Series A debentures (NCDs) of Rs 500,000 each on January 31, 2018. The company has also issued 1 equity share of Rs 10 at a premium of Rs 95,918.57 each, and 94 Series B1 preference shares of Rs 100 at a premium of Rs 95828.57 each on the same date .

With this venture debt round, the company received a total external funding of $11 million since its inception in 2015.

Also Read:

India: Hyperlocal discovery platform magicpin raises $7m from Lightspeed, others

India: Hyper-local discovery app Magicpin raises $3m

Marico acquires Isoplus brand from JM Products for $5.7m

 

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.