India Dealbook: Juggernaut Books, Rentickle, Bayside Sports raise funds

While Bharti Airtel has picked up a stake in digital content platform Juggernaut Books, online rental platform Rentickle has raised $4 million. Also, Anand Mahindra has acquired a stake in Bayside Sports.

Bharti picks up stake in online content platform Juggernaut

Leading telecom company Bharti Airtel has acquired a strategic stake in digital content platform Juggernaut Books.

The company did not disclose the quantum of stake or the amount it invested in the digital platform used for reading affordable books and to submit amateur writing.

“The investment from Airtel will enable Juggernaut to ramp up content acquisition, digital marketing and prepare for a subscription offering launch in the next few months,” Bharti Airtel said in a statement

Launched in 2016, Juggernaut’s former investors include Infosys co-founder and current chairman Nandan Nilekani and Boston Consulting Group India CEO Neeraj Aggarwal.

Online rental platform Rentickle raises $4m

Rentickle, an online rental platform for furniture and home appliances, has raised $4 million in debt and equity in a round led by Singapore-based venture capital firm ThinKuvate and CX Partners chairman Ajay Relan.

According to a report in The Economic Times, the round, in which equity and debt funding ratio is around 45:55, also saw the participation of existing investors.

While Relan, ThinKuvate, and the existing investors participated only through equity, the debt portion was raised from Delhi-based non-banking financial company DMI Finance.

“Raising this investment is significant for us, as we see more strategic opportunities in the online renting space in the near future,” Amit Sodhi, cofounder of Rentickle.com, told the newspaper.

Anand Mahindra backs sports firm Bayside Sports

Mumbai-based sports academy and sports event management company Bayside Sports has received funding of an undisclosed amount from Mahindra Group chairman Anand Mahindra, as per a Times of India report.

As per the report, Anand Mahindra has acquired a 16.7 per cent stake in Bayside Sports in his personal capacity.

Founded in early 2013, the academy claims to have coached around 2,000 cricket players in eight centres across Mumbai.

The company has now diversified into training for football, basketball, throwball and kabaddi.

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