India Dealbook: Utkal Tubers, Pi Beam raise funding; HashedIn in M&A

Photo: Reuters

Indian startups continue to attract investor interest. Agtech startup Utkal Tubers has secured funding from Irish investor IPM Potato Group while Pi Beam has bagged funding from Eagle10 Ventures. In another deal, HashedIn Technologies has entered into an agreement with Redis Labs to sell RDBTools.

Utkal Tubers gets funding from IPM Potato

Agtech startup Utkal Tubers on Thursday announced that it has raised Rs 10 crore from Irish investor IPM Potato Group, and existing investor Zephyr Peacock.

Through the partnership with IPM, Utkal will license an extensive portfolio of new potato varieties with improved disease resistance and high yield potential for retailing in India, it said in a statement.

“The introduction of new potato varieties will add value for the farmer through improved yields and better resistance to drought and disease,” said Marcel de Sousa, a director at IPM.

Set up in 2017, Utkal Tubers had previously raised Rs 30 crore from CapAleph Indian Millennium SME Fund and Zephyr Peacock India Fund.

Eagle10 Ventures backs Pi Beam

Electric utility vehicles maker Pi Beam has raised an undisclosed amount in a pre-Series A round of funding led by early-stage investor Eagle10 Ventures, VCCircle reported.

The round also saw participation from venture capital firm Bluehill Capital and undisclosed high net-worth individuals (HNIs).

Founded in 2013 by Visakh Sasikumar, Pi Beam will use the financing proceeds to ramp up sales, launch new product development initiatives, and expand its team. The startup had previously raised seed funding from members of the Keiretsu forum, a global angel investor network.

Redis buys RDBTools from HashedIn

Indian startup HashedIn Technologies has entered into an agreement with US-based Redis Labs to sell its indigenously developed software RDBTools.

The acquisition by Redis Labs in an all-cash deal will put the Indian startup in the international arena, the company said in a statement. Financial details of the deal were not disclosed.

Redis is an open source, in-memory database, typically used in high-performance scenarios, with use cases including application caches, message brokers and even as a primary database. The company claims that Redis is currently being adopted by some of the world’s most reputed companies including Twitter, Snapchat and Github.

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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.