Tag Archive for raises

Sequretek raises fresh funding from Unicorn India Ventures

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Sequretek, one of India’s fastest growing cyber-security company, has raised Rs 27 crores in a bridge round. The round has been led by Unicorn India Ventures and co-investors include GVFL and Sharad Sanghi, MD & CEO, Netmagic. Both Unicorn India Ventures and GVFL invested in Sequretek last year in a pre Series A round. Sharad Sanghi has invested in this round in a personal capacity. This is 2nd institutional round raised by Sequretek.

Pankit Desai, Co-founder & CEO, Sequretek says, “The Company has been growing much faster than expected. Our enterprise client base is expanding with newer segments such as manufacturing, pharma, services and retail coming on board whilst maintaining a strong traction in the financial sector. These freshly infused funds will help Sequretek scale up faster in India as well as internationally too.” Read more

Revv Raises INR 100 Cr in Series B Funding led by Hyundai Motor

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Revv Team

Revv, India’s fastest growing car-sharing company, announced the company has secured INR 100 Cr in a Series B funding round led by Hyundai Motor, South Korea’s largest automaker, making Hyundai the first and only automotive company among Revv’s investors. Revv’s existing investors Edelweiss and Beenext also participated in the round, with new investors Dream Incubator, Sunjay Kapoor of Sona BLW and Telama Investment.

Revv is amongst the largest car sharing platforms in India with a presence in 11 cities, serving more than 300 thousand users. It aims to re-imagine the mobility solutions for users’ needs ranging from “few hours to a few years”, to cater to the vast majority of Indians who do not own a car yet. Its products include hourly self-drive car sharing, one-way outstation car sharing and Switch – India’s first monthly car subscription program, where members enjoy all the benefits of car ownership without the hassle, upkeep and commitment. Read more

Digit Insurance Raises a Record $44 Million in the Second Round of Funding

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Digit Insurance, a new age insurance startup, which wants to make insurance simple, has raised $44 million in a second round of funding. Canadian billionaire Prem Watsa’s Fairfax Holdings has invested second round of capital ($45 million) in Digit Infoworks, a parent company for Digit insurance of which a significant part of the investment ($44 million) is given to Digit Insurance. The funding is the largest round in the Indian general insurance ecosystem. This investment brings Digit’s total funding to $94 million.

 

Digit Insurance plans to invest the funds in technology to drive its mission of making insurance simple.  A significant use of fund will also be invested in launching new lines of products and expansion of distribution network across the country.

 

Kamesh Goyal, Founder & Chairman, Digit Insurance said, “Our investors have shown confidence in our mission of Making Insurance Simple which is heartening. And this round of funding will further help us in doing that.” Read more

Magic Crate raises Pre Series A funding led by Fireside Ventures

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Bangalore-based Magic Crate, an early childhood learning brand, has raised an undisclosed amount in its third round of institutional funding led by Fireside Ventures. The Company had earlier raised funding led by Mohandas Pai backed Aarin Capital and 3One4 Capital. The latter also participated in the current round.

Magic Crate was started in 2015 by IIT-IIM alumnus Viswanathan Ramakrishnan and  ex-McKinsey consultant Karthik Lakshman. The start-up provides an inquiry & play-based program for early childhood learning at home.

“Research shows that about 80% of critical brain development happens before the child turns 8. This has a direct correlation with what they are exposed to, during those years. Also, in this age group, they have a phenomenal amount of free time and it becomes a big challenge to engage them at home. Magic Crate is solving this pain point for millions of busy, but well-intentioned parents.”, says Viswanathan Ramakrishnan, Co-founder and CEO, Magic Crate.

The company offers a subscription-based service that produces and delivers hands-on activities for kids aged 1.5-13 years. The activities are designed by a team of early childhood experts & product designers, to be educational and also entertaining for kids.Every month, the child explores a new area that excites them, such as space or rainforest. And Magic Crate provides all the necessary materials, ideas and instructions for these themed activities.

Magic Crate has shipped more than 5 lakh crates till date and is growing 100% Y-o-Y. The Company is on track to touch more than 70,000 shipments per month by March 2019. Read more

Satin Creditcare raises ₹500 crore from NABARD as Refinance Facility

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Satin Creditcare Network Limited (“SCNL”) [BSE: 539404; NSE: SATIN] the second largest microfinance company in the country, has received a fresh disbursement of ₹500 crore from NABARD in the form of refinance facility for tenure of 5 years. The funds raised will be used for further growth in AUM of SCNL.

Commenting on the transaction, Mr. H P Singh, Chairman and Managing Director – SCNL, said, “Association with NABARD is helping SCNL to reduce the cost of borrowings and lending rates to the ultimate borrowers. Lower lending rates will accelerate the pace of our mission of financial inclusion.”

SCNL has been raising funds through various instruments, such as Term Loans, NonConvertible Debentures (NCD), Preference shares, Commercial Paper and Securitization/assignment, etc., in keeping with its strategy to diversify its resource profile. Read more

Tynor Orthotics raises INR 143 crore from Lighthouse Funds and Thuasne Participations, France

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

lighthouse Funds, a mid-market focussed private equity fund and Thuasne Participations, France, together have invested INR 143 crore into Tynor Orthotics Private Limited (“Tynor” or the “Company”), India’s largest orthotic soft goods company. The investment will be used to accelerate Tynor’s growth plans. Tynor is a leading brand in India’s rapidly growing orthotic support industry and sells products such as body braces, supports, fracture and walking aids. The Company has a wide range of offerings consisting of over 140 products. Tynor has a national distribution network in India and also exports to over 40 countries. The Company is aiming to achieve sales of over INR 500 crore in the next three to four years.

 

Thuasne had originally invested in Tynor in 2010, picking up a minority stake. It has again participated in the current round, led by Lighthouse Funds.

 

Lighthouse is a leading mid-market private equity firm focused on growth investments in India’s consumer sector. The firm’s current and past investments include Bikaji Foods, FabIndia Overseas, Cera Sanitaryware, Capital Trust, Suraksha Diagnostic, Dhanuka Agritech, Indian Herbs, Kama Ayurveda, Unibic Foods and XSEED Education. For more information, please visit www.lhfunds.com. Read more

CoinTribe, a MSME lending marketplace, raises US$ 10 Million from Sabre Partners and existing investors

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

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CoinTribe, India’s leading credit based lending marketplace for MSMEs, announced on [Date] that it has raised over US$ 10 million equity capital in Series-B round led by Sabre Partners along with participation from existing investor, Puneet Dalmia.

As a credit based marketplace, CoinTribe offers unsecured term as well as working capital financing to small businesses, which are risk assessed using an online lending algorithm. Gurugram based CoinTribe is a niche player in small business segment and stands differentiated with its robust online credit risk assessment capabilities, which has found strong acceptance with its lending partners. CoinTribe is India’s only lending marketplace which has back-tested its credit algorithm with leading private banks in the country and has so far partnered with leading banks and NBFCs, which include Axis Bank, Yes Bank, RBL Bank, DBS, IIFL, Clix Capital and SMC Capital. Apart from lending through the marketplace CoinTribe is the only player whose technology platform is being used by 4 private and foreign banks on a white labelled basis.

 

With this round of funding, total equity capital raised by CoinTribe has increased to over US$ 15 million. CoinTribe plans to use this additional capital to further enhance capabilities of its proprietary online credit algorithm, expand to new markets and further develop technology to enable faster and nimble product and credit model innovation. Read more

Luxury real estate market raises it’s head for a bright future Marathon Group and Adani Realty jointly venture project at Byculla, Monte South fast tracks operations

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

https://www.adanirealty.com/assets/sites/images/logo1.png          Marathon Realty Logo - Marathon Monte South Byculla

Monte South- Render

As the real estate market continues to improve every passing day, the impact is being seen on the luxury property market of the city. Marathon Group, a leading real estate company from Mumbai, in association with Adani Realty is developing the premium residential property Monte South at Byculla.

Witnessing a gradual vitality in the market, in tandem with these conditions and to match the forthcoming rise in demand for luxury property, the Group is set to launch the 2nd tower of its ambitious luxury project soon. Read more

Chai Point raises $20 million in Series C

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Amuleek Singh Bijral , CEO & Co- Founder Chai Point

Chai Point, the largest organized Chai Company in India, today announced a $20 million Series C funding round, led by Paragon Partners. All existing investors – Eight Roads (Fidelity’s India PE arm), Saama Capital and DSG – participated in this round, with some of them investing super pro rata. Read more

Tata Mumbai Marathon 2018 raises over Rs 34.36 crores, shattering all previous records

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

The Tata Mumbai Marathon (TMM) is much more than a Marathon, it is a showcase for the ‘Can do… Will Do’ spirit of humanity. The event transcends sport and encourages the ‘Power of the Collective’ to make a difference. The event has ignited a spirit of giving, empowering countless individuals to bond with civil society for the change they want to see in it.

United Way of Mumbai, the event’s philanthropy partner, continued their commitment towards charity and shattered all previous records raising over Rs. 34.36 crores, an unprecedented achievement.

With this, the cumulative amount raised by the event in 15 years since its inception in 2004 has breached the Rs 200 crores mark, standing at an impressive Rs. 229.16 crores today. This re-affirms TMM as the single largest sporting platform for philantrophy in India.

 

‘Giving’ through TMM reached a new high as 262 NGOs, 169 Corporates, 266 teams, 231 Young Leaders along with thousands of individual donors and fundraisers came forward to support a host of social causes including Education, Disability, Health Care, Women Empowerment, Children, Animal Welfare & Environment, Livelihood, Social, Civic & Community Development, Art, Elderly, and Gender among others.

 

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