India Digest: Paper Boat raises funding; Paytm founder floats new entities for personal investments

Photo: Paper Boat

Beverage and snack brand Paper Boat has garnered as much as Rs 28 crore (around $3.73 million) from Sofina Ventures, A91 Emerging Fund I, SCI Growth Investment II and Catamaran Ventures. In a separate development, Paytm founder Vijay Shekhar Sharma and his wife Mridula Parashar have incorporated two new entities – VSS Investco and VSS Holdings – to ramp up their personal investments.

Paper Boat raises funding from Sofina Ventures, A91 Emerging Fund

Beverage and snack brand Paper Boat has garnered as much as Rs 28 crore (around $3.73 million) from Sofina Ventures, A91 Emerging Fund I, SCI Growth Investment II and Catamaran Ventures.

The development was first reported by INC42. A text message sent to Neeraj Kakkar, co-founder and CEO at Hector Beverages, the owner of Paper Boat brand did not elicit any response.

This marks the Series C round of funding for the company that was established in 2010.

Of the total corpus, Sofina Ventures is understood to have pumped in Rs 16.50 crore, while A91 Emerging Fund is said to have invested Rs 5 crore. SCI Growth Investment II and Catamaran Ventures have reportedly infused Rs 4 crore, and Rs 2.50 crore, respectively.

The company offers fruit-based drinks, thereby recreating a range of traditional Indian beverages.

Paytm founder floats 2 new entities for personal investments

Paytm founder Vijay Shekhar Sharma and his wife Mridula Parashar have incorporated two new entities – VSS Investco and VSS Holdings – to ramp up their personal investments, per a report by Entrackr.

The new entities can also tie up with other companies to carry out business activities in the overseas market besides India, added the report.

Sharma is understood to have infused Rs 8.5 crore in VSS Investco, while VSS Holdings has reportedly pumped in Rs 54 lakh.

Sharma has been an active angel investor in the burgeoning startup ecosystem for long and has backed companies such as learning platform Unacademy, and coworking space Innov8, among others.

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.