India Dealbook: Infibeam sells Infinium for $8.5m; Unitus backs 5C Network

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Infibeam Avenues Ltd is selling its wholly owned subsidiary Infinium (India) Ltd to Ingenius E-commerce Pvt. Ltd for Rs 60 crore ($8.5 million) while 5C Network (India) Pvt. Ltd has raised an undisclosed amount in seed funding.

Infibeam sells Infinium for $8.5m

Infibeam Avenues Ltd is selling its wholly owned subsidiary Infinium (India) Ltd to Ingenius E-commerce Pvt. Ltd for Rs 60 crore ($8.5 million), it said in a regulatory filing on Saturday.

“The company (Infibeam Avenues) has divested its ownership with control in its wholly owned subsidiary Infinium (India) to Ingenius E-commerce Pvt Ltd,” the filing said. Infinium accounts for 10.51 per cent of the parent’s consolidated turnover and 0.31 per cent of its net worth.

Ingenius owns and operates B2B marketplace Tradohub for SMEs with focus on appliances, industrial equipment,
and raw materials.

Unitus backs 5C Network

Bengaluru-based health tech startup 5C Network (India) Pvt. Ltd has raised an undisclosed amount in seed funding from Unitus Ventures, Axilor, and Centre for Innovation Incubation and Entrepreneurship (CIIE), the technology business incubator of IIM Ahmedabad.

Launched in November 2016 by Kalyan Sivasailam and Syed Ahmed, 5C Network operates a radiology-focused online portal that allows hospitals and diagnostic centres to upload a patient’s reports directly to the cloud-based platform where automated data extraction and analysis is done by its proprietary machine learning (ML) algorithm.

5C Network claims to be handling more than 950 cases per day. The startup plans to reach more than 1000 hospitals, 200+ radiologists, and integrate the complete ecosystem in a mobile environment in the next few years.

Also Read:

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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.