<article><p>While Zensar, Cyient and Sheroes have entered into M&amp;A deals, FreshMenu, M1xchange and Liquiloans have secured fresh rounds of funding.</p></article>

<p>While Zensar, Cyient and Sheroes have entered into M&amp;A deals, FreshMenu, M1xchange and Liquiloans have secured fresh rounds of funding.</p>
<h3>Zensar to sell some non-core units to US co</h3>
<p>Indian software services firm <strong><a href="http://dealstreetasia.com/tag/zensar" target="_blank" rel="noopener">Zensar Technologies</a></strong> is selling its non-core India, Middle East and Australian businesses to Lorhan IT Services- a unit of US-based firm First Tek Inc for up to Rs 26 crore ($3.6 million) in cash.</p>
<p>According to an official statement, Zensar will divest its Australia and Middle East businesses via a share sale and its India business as a slump sale. Under the terms of the deal assets, liabilities, employees, and client contracts relevant to these businesses will be transferred to Lorhan.</p>
<p>It will get Rs 8.45 crore upfront for the India business and an equal additional amount depending upon closing conditions, payment milestones and the exchange rate, it said. It will sell Australian unit Zensar Information Technologies Ltd for Rs 5.30 crore and the Middle East arm Zensar Software Technologies Ltd for Rs 3.79 crore, it added.</p>
<h3>Cyient acquires full control of manufacturings and systems design unit</h3>
<p><a href="http://dealstreetasia.com/tag/cyient" target="_blank" rel="noopener"><strong>Cyient Ltd</strong> </a>has signed an agreement to acquire the remaining the 26 per cent stake it did not already own in its electronics system design and manufacturing unit Cyient DLM, formerly Rangsons Electronics.</p>
<p>According to a filing to the stock exchanges,  Cyient, formerly Infotech Enterprises, will pay Rs 42.5 crore (around $6 million) to acquire the stake from NR Group.</p>
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<p>&#8220;The acquisition positioned Cyient strongly to expand into high-technology and high-value, design-led systems and solutions in line with the Cyient&#8217;s S3 strategy. By acquiring the balance 26% stake, Cyient Limited and its nominees will get 100% ownership in Cyient DLM,&#8221; it said.</p>
<h3>SHEROES acquires women’s health app Maya</h3>
<p><strong><a href="http://dealstreetasia.com/tag/Sheroes" target="_blank" rel="noopener">SHEROES</a></strong>, the communities for women platform, is acquiring Bengaluru-based women’s health app Maya for an undisclosed amount.</p>
<p>Founded in 2014, Maya enables women to keep track of their health via a mobile application. The platform is accessible in 14 international and vernacular languages (including Hindi and Tamil), and is actively used by women users in over 20 countries.</p>
<p>&#8220;Health is one of our fastest growing communities on the SHEROES app, and adding Maya to our bouquet of products, helps us strengthen our offering in this space,&#8221; said Sairee Chahal, Founder-CEO of SHEROES.</p>
<h3>FreshMenu raises $3m from existing investors</h3>
<p>Food-tech startup <a href="http://dealstreetasia.com/tag/freshmenu" target="_blank" rel="noopener"><strong>FreshMenu</strong> </a>has raised Rs 21 crore ($2.94 million) as part of a new funding round from its existing investors.</p>
<p>According to VCCircle <a href="https://www.vccircle.com/cloud-kitchen-platform-freshmenu-refills-funding-pot" target="_blank" rel="noopener"><strong>report</strong> </a>quoting filings with the Ministry of Corporate Affairs, existing investors Lightspeed Venture Partners, Zodius Technology fund and serial entrepreneur K Ganesh’s Growthstory participated in this funding.</p>
<p>While Lightspeed put in $1.64 million, Zodius and Growthstory put in the rest.</p>
<p>It was earlier reported that FreshMenu was in talks with private equity firms to raise up to $75 million to fund expansion.</p>
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<h3>M1xchange raises funds from Mayfield India, SIDBI Ventures</h3>
<p>M1xchange, a digital invoice discounting platform for MSMEs, has raised an undisclosed amount of funding from Mayfield India and <strong><a href="http://dealstreetasia.com/tag/sidbi-ventures" target="_blank" rel="noopener">SIDBI Ventures</a></strong>.</p>
<p>Founded in 2017, the platform operated by Mynd Solutions, plans to use the funds from its Series A round to invest in technologies like blockchain, enhance its network and boost business growth for the company.</p>
<p>M1xchange is one among the three Trade Receivable Discounting Systems (TReDS) approved by the RBI to bring together buyers, sellers and financiers for discounting MSME invoices.</p>
<p>Investment banking firm Maple Capital Advisors was the financial adviser for the transaction.</p>
<h3>Matrix Partners leads $1.7m round in Liquiloans</h3>
<p>Peer-to-peer lending platform Liquiloans has raised Rs 12 crore ($1.7 million) in a funding round led by venture capital firm<a href="http://dealstreetasia.com/tag/matrix" target="_blank" rel="noopener"> <strong>Matrix Partners</strong></a>, according to <strong><a href="https://tech.economictimes.indiatimes.com/news/startups/liquiloans-raises-rs-12-cr-funding-led-by-matrix-partners/67632396" target="_blank" rel="noopener">a report</a></strong> in The Economic Times.</p>
<p>The pre-Series A round also saw participation from Kunal Shah, founder of Cred and Freecharge, and Ashutosh Taparia, former joint managing director of Famy Care, along withAbhishek Dalmia, chairman, Renaissance Group; Jitendra Punjabi, former executive at Capital Group; and Anuj Golecha, co-founder, Venture Catalyst.</p>
<p>Founded in April last year by Gautam Adukia and Achal Mittal, who are also the co-founders of Rentomojo, Liquiloans intends to offer instant loans to consumers in the P2P lending format.</p>
<p><strong>Also Read:</strong></p>
<p><span style="color: #ff0000;"><strong><a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/freshmenu-talisman-lavelle-108328/" target="_blank" rel="noopener">FreshMenu in talks for $75m funding</a></strong></span></p>
<p><span style="color: #ff0000;"><strong><a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-dealbook-182-89455/" target="_blank" rel="noopener">Sheroes acquires Delhi-based Babygogo</a></strong></span></p>
<p><span style="color: #ff0000;"><strong><a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/india-zensar-acquires-us-insurance-consulting-firm-cynosure-for-33m-94772/" target="_blank" rel="noopener">India: Zensar acquires US insurance consulting firm Cynosure for $33m</a></strong></span></p>


While Zensar, Cyient and Sheroes have entered into M&A deals, FreshMenu, M1xchange and Liquiloans have secured fresh rounds of funding.

India Dealbook: Zenar, Cyient, Sheroes in M&A; M1xchange, FreshMenu, Liquiloans raise funds

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India Dealbook: Zenar, Cyient, Sheroes in M&A; M1xchange, FreshMenu, Liquiloans raise funds

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