India Dealbook: Mumbai Angels backs Theranosis; Choksey invests in Anthill; Daiko buys ad firm

Photo: Reuters

In the latest startup funding news, Mumbai Angels Network on Monday announced that it has invested in Theranosis Life Sciences while Deven Choksey, the MD of KRChoksey Shares & Securities Private Ltd, will invest in Anthill Ventures. In another development, Japan’s Daiko has acquired a majority stake in New Delhi-based creative advertising agency.

Mumbai Angels invests in Theranosis Life

Mumbai Angels Network on Monday announced that it has invested in Theranosis Life Sciences, a Hyderabad-based medical diagnostic startup. Founded in 2016 by Dr Shibichakravarthy Kannan and Dr Vennila Dharman, Theranosis targets case-specific cancer diagnostic therapies as an alternative to conventional ‘one size fits all’ treatment. The company claims to have a patented device that can reduce the need for surgical biopsies.

Deven Choksey backs Anthill

Deven Choksey, the MD of KRChoksey Shares & Securities Private Ltd, will invest an undisclosed amount Anthill Ventures and as a member of Anthill’s Investment Committee (IC) lend his expertise in screening incoming opportunities, per a statement. The investment proceeds will be used by early-stage investment firm Anthill Ventures to fund its operations, it said. The two entities signed a memorandum of understanding for the same effective June 2018.

Daiko picks stake in ad firm

Japanese advertising firm Daiko has acquired a majority stake in New Delhi-based creative advertising agency From Here On Communications Pvt. Ltd (FHO). The deal size was not disclosed. Post the deal, FHO will be known as Daiko From Here On Communications, or Daiko FHO. The acquisition will give the Japanese firm a strengthened base in India, and help it expand across Asia.