India Dealbook: TCS, Viithiisys Tech in M&A; Truebil, GO DESi raise funds

Photo: Reuters

By Pramugdha Mamgain

November 2, 2018

Tata Consultancy Services (TCS) on Thursday announced that it has acquired London-based W12 Studios while Viithiisys Technologies has bought on-demand application development startup Actiwate. Meanwhile, Truebil and GO DESi are among the latest startups to raise funds.

TCS acquires London’s W12 Studios

Tata Consultancy Services (TCS) on Thursday announced that it has acquired W12 Studios, a digital design studio based in London. W12 Studios will be a part of TCS Interactive, which is the digital design division within TCS’ Business & Technology Services. Started in 2012 by Fabian Birgfeld, Chief Executive Officer, and Michael Albers, Chief Creative Officer, W12 Studios will retain its current name, branding and location in London’s historic Metropolitan Wharf in Wapping. The two co-founders will continue to lead W12 Studios and maintain their current roles, TCS said in a statement.

Viithiisys Tech acquires Actiwate

Boutique IT consulting and services company Viithiisys Technologies has acquired on-demand application development startup Actiwate for an undisclosed amount, reported The Economic Times. The deal will help Actiwate scale up its operations and fulfill Viithiisys’ need for an experienced product management team for their flagship product Vizitor. Post acquisition, Amanjot Malhotra, founder of Actiwate, will exit the company and act as the advisor, the report added.

Truebil raises $1.35m venture debt

Truebil, an online marketplace to buy and sell second-hand cars, has raised $1.35 million in a fresh round of funding from venture debt provider Trifecta Capital, VCCircle reported. The startup had raised $3 million in two tranches earlier last month, which included $2 million in funding led by existing investor Inventus Capital Partners and separately $1 million from its existing investor Kalaari Capital. Truebil raised $3 million in a follow-on Series A round from Shunwei in February last year.

GO DESi raises seed funding

Bengaluru-based packed food brand GO DESi has raised Rs1 crore in seed funding round led Mumbai-based Lead Angels Network, reported The Economic Times. The funding round also saw participation from other angel investors including serial entrepreneur R Ramaraj, whose last stint was at Sify as the co-founder & CEO. The round will help the company expand its sales and distribution into other metro cities as well as strengthen its supply chain.

 

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.
APPLY NOW

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.
APPLY NOW