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.