Indian Startup and Business News #StartupDaily

Latest News from Indian Startup Ecosystem [Funding, Technology, Launch, Collaboration]

  1. SAIF Partners has exited from its investment in travel portal MakeMyTrip.com (MMT), as per the recent SEC filings of the Gurugram-based company.
  2. Mumbai-based online marketplace for buying and selling secondhand cars Truebill has secured $3 Mn from Chinese VC firm Shunwei Capital. The funding was raised as a follow-on Series A round.
  3. Rays Culinary Delights Pvt. Ltd, which runs packaged foods company Sattviko, has acquired outfit curation portal Stylspot in order to strengthen its technology platform.
  4. Ecommerce major Amazon.com has sought the Indian government’s approval to open food-only physical outlets combined with an online platform to sell locally produced food items.
  5. Bengaluru-based digital media company YourStory Media Pvt. Ltd, which runs YourStory.com, has raised $3 million (about Rs 20 crore) in a fresh round of funding, filings with the Registrar of Companies (RoC) show.
  6. Gurgaon-based Insignia Art Collect Pvt Ltd has raised $522,000 from DSG Consumer Partners in its first external round of funding.
  7. Warburg Pincus is in advanced discussions to buy a stake in the engineering unit of Tata MotorsLtd., the manufacturer of Jaguar sports cars and Land Rover sport utility vehicles.
  8. E-commerce focussed logistics company Ecom Express Pvt Ltd plans to raise fresh funds in the second half of this year to push its expansion plans.
  9. Private equity firm TPG Capital is looking at a possible consolidation of Fortis Healthcare and Manipal Health Enterprises, which could create one of the largest healthcare services provider in the country.
  10. Asian Paints Ltd today said its indirect subsidiary Berger Intern Causeway Paints Lanka (Pvt) Ltd, Sri Lanka, to acquire of 100 per cent stake in the company in an all cash deal.
  11. Private equity firm ICICI Venture Funds Management Co. Ltd has so far received gross commitments of $350 million for its fourth sector-agnostic fund.
  12. Payism Technologies India Pvt. Ltd, which facilitates cash-based as well as cashless transactions, is looking to raise approximately $25 million in growth equity capital to fuel its expansion plans, a top executive said.
  13. Japan's SoftBank Group on Wednesday said it has agreed to buy Fortress Investment Group for about $3.3 billion, looking to add investment expertise as it prepares to launch the world's largest private equity fund.
  14. FbStart program which aims at helping mobile startups build and grow their apps, has selected Gurgaon-based First Aid Care app called Blood n Care.
  15. In one of the largest real estate transactions in Bengaluru,SAP Labs India is in the process of renting a 5,00,000 sq ft of office space in the city to consolidate and expand its business in India.
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