India Dealbook: InnoVen backs DocsApp; Tiger Global eyes Open; Rockstar Games buys Dhruva

Photo: Reuters

Bengaluru-based DocsApp has raised $1.6 million (Rs 12 crore) from InnoVen Capital, while Tiger Global is looking to invest money in neo-banking startup Open. In the M&A space, Rockstar Games Inc. announced that it has acquired Dhruva Interactive from Swedish developer Starbreeze AB.

InnoVen Capital invests $1.6m in DocsApp

Bengaluru-based doctor consultation platform DocsApp has raised $1.6 million (Rs 12 crore) from venture debt lending firm InnoVen Capital.

DocsApp, which has raised about $10 million in funding till date, will use the funds to expand operations across India and also for its growth efforts.

Founded in 2015 by IIT-Madras alumni Satish Kannan and Enbasekar Dinadayalane, DocsApp currently boasts of over 5000 specialist doctors registered on the platform. It provides consultations across 15 specialities, including gynaecology, paediatrics, dermatology, psychiatry, sexology, weight management, and general medicine to name a few.

Tiger Global eyes neo-banking startup Open

New York-based investment firm Tiger Global is in advanced discussions to lead a funding round of about $30-50 million in neo-banking platform Open.

According to a report in The Times of India, a few private equity funds may also join the financing round. Open will see its valuation jump to $150 after the fundraise.

In February, the startup had raised Series A funding of $5 million led by Beenext, Speedinvest and 3one4 Capital. Existing investors Unicorn India Ventures and Angellist Syndicate also participated in that round.

Rockstar Games buys Dhruva Interactive

New York-headquartered Rockstar Games Inc. Monday announced that it has acquired Indian art production studio Dhruva Interactive Pvt. Ltd from Swedish developer Starbreeze AB for $7.9 million.

Starbreeze had acquired Dhruva in December 2016 for $8.5 million.

As part of the deal, Rockstar has acquired Starbreeze’s 91.82 per cent stake in Dhruva. The deal is likely to close before June-end.

Dhruva is expected to work alongside Rockstar India on the company’s current projects and anything it was previously working on before acquisition. Founded in 1997, Bengaluru-based Dhruva has an employee base of around 300.