India Dealbook: Strides Acrolab to raise $227m, Uniqorn invests $350K in Zakoopi

Credit: Flickr/epSos.de

Strides Acrolab, that makes products for drug firms, plans to raise $227 million on the Bombay Stock Exchange in Mumbai, India. Online apparel discovery platform Zakoopi, a year-old startup, raised $350,000 in seed funding from Uniqorn Ventures.

Strides Acrolab to raise up to $227 million

Bangalore-based Strides Arcolab plans to raise up to Rs 1,500 crore ($227 million) through various stock market instruments.

“The board of directors of the company has approved the proposal to raise long-term funds by way of issue of GDRs/ADRs /FCCBs/QIP or such other equity-linked instruments as may be permissible for an amount up to Rs 1,500 crore including a green shoe option,” Strides Arcolab said in a BSE filing.

The fundraising is subject to shareholders’ approval and that of regulators such as the Foreign Investment Promotion Board.

Strides Acrolab makes gelatin capsules, tablets, sachets, and potent drugs. In May, the company acquired South African drugmaker Aspen Pharmacare‘s generic pharmaceutical business in Australia.

Uniqorn Ventures invests in Zakoopi

Delhi-based Zakoopi Infotech Pvt Ltd., which runs apparel discovery platform by the same name, has raised Rs 2.3 crore ($350,000) in seed funding from Uniqorn Ventures.

Zakoopi’s website provides a listing of fashion and clothes stores, including local markets in Delhi. “Zakoopi has developed an ideal solution to cater to the vast unorganised fashion sector,” said Shiraz Bugwadia, Managing Partner at Uniqorn Ventures.

The funding will help Zakoopi expand to more cities and hire more people in its product and technology teams. The startup says it has over 1 lakh monthly users.

Zakoopi, founded last year by Shashank Agnihotri and Samik Sarkar, will use the funds for expansion and beefing up its product and technology teams, it said in a statement. “After Delhi and Mumbai, we shall be in Kolkata soon, followed by other cities,” said Agnihotri.

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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.