Bharti To Acquire Minority Stake In British Telecom Giant BT For $4 Bn
Bharti Global, the international investment arm of Bharti Enterprises would acquire a 24.5% stake in BT which is Britain’s leading broadband and mobile company, for $4 billion (around INR 33,580 crores). The shares will be purchased through Bharti Televentures UK, which is wholly owned by Bharti Global. Bharti Televentures UK has inked an agreement with Altice UK to acquire about 9.99% stake of BT Group’s issued capital imminently with the rest about 14.51% of BT’s share capital is to be acquired post regulatory clearances. This move will make Bharti which is one of India’s biggest conglomerate a key strategic shareholder in BT. It is a strategic deal which is in line with strengthening India-UK ties and offers opportunities on AI, 5G RD and core engineering.
(Source: VC Circle, 12th August 2024)
Private Equity
Innoviti Raises $8 Mn From Random Walk & Existing Backers
Innoviti Technologies Pvt. Ltd., which provides a payments-focused retail SaaS platform for enterprise brands and their SME channel partners, has secured $8.3 million (approximately INR 70 crores) through a combination of equity and debt. The funding round was led by Random Walk Solutions, with contributions from existing investors Bessemer Venture Partners, Patni Family Office, and Alumni Ventures. The company anticipates launching its public offering within the next 12 months.
(Source: VC Circle, 12th August 2024)
EV Maker Kinetic Green Rises $25 Mn As Part Of Larger Series-A Round
Kinetic Green, the electric vehicle division of the Kinetic Group renowned for the iconic Luna moped from the 1970s, has secured $25 million (approximately INR 209 crores) in its inaugural external funding round. The investment was led by global private equity firm Greater Pacific Capital (GPC), utilizing a mix of common equity shares, convertible preference shares, and debentures. Kinetic Engineering will allocate the funds to enhance production capabilities, expand marketing efforts, and bolster distribution channels for its existing product line. Additionally, the company aims to accelerate the growth of its three-wheeler and two-wheeler segments.
(Source: VC Circle, 12th August 2024)
Continuum Green Energy Gets $150 Mn From AI Gore-Backed Climate Investor
Renewable energy company Continuum Green Energy Pvt. Ltd has raised $150 million (around INR 1,256 crores) in equity capital from a climate investment firm backed by former US Vice-president AI Gore’s Generation Investment Management. The investment by the UK-based Just Climate will support Continuum’s deployment of wind solar hybrid generation and storage projects across India.
(Source: VC Circle, 20th August 2024)
Water Purifying Brand Livpure Raises $28 Mn
Livpure, a leading water purification brand, has secured $27.7 million (approximately INR 233 crores) from M&G Investments, a London-based investment firm, and Ncubate Capital Partners, the investment arm of its parent company SAR Group. This funding will enable Livpure to accelerate its category expansion and advance its product development initiatives as it plans to diversify its product range. Established in 2012 by Rakesh Malhotra and Naveen Kapoor, Livpure’s portfolio includes water purifiers, subscription-based water solutions, air coolers, kitchen appliances, mattresses, and sleep accessories.
(Source: VC Circle, 21st August 2024)
JM Financial PE Spices Up Portfolio With Bet On Zoff Foods
Founded in 2018, Zoff is an online platform specializing in spices and dry fruits. With $4.7 million (approximately INR 40 crores) in funding, it has become the first e-commerce brand to secure investment in the spices sector. The company plans to utilize this capital to broaden its product offerings, including ready-to-cook items, condiments, cooking pastes, and seasoning kits. Additionally, Zoff aims to enhance its offline distribution network by expanding into general trade, modern trade channels, and retail outlets in Tier-2 and Tier-3 towns.
(Source: VC Circle, 21st August 2024)
Venture Capital
HouseEazy raises $7 Mn in Series-A Funding Round
HouseEazy, a marketplace specializing in the resale of homes, has secured $7 million (approximately INR 58.7 crores) in equity and debt during its Series-A funding round, led by Chiratae Ventures. The round also saw participation from Alteria Capital and Antler. The company intends to utilize the capital to drive growth in new regions within the National Capital Region, bolster its brand presence, expand its team, and enhance its product offerings.
(Source: VC Circle, 26th August 2024)
Convin raises $6.5 Mn in Series-A Funding Round
Founded in 2021, Convin is an AI-driven platform that helps businesses improve customer interactions through advanced conversational intelligence. The company has raised $6.5 million (approximately INR 54.5 crores) in its Series-A funding round, led by Quotient and supported by both new and existing investors. Convin plans to use the funds to expand its core team and enhance its distribution channels.
(Source: VC Circle, 27th August 2024)
Kreedo raises $4 Mn in Series-A Funding Round
Kreedo, an early childhood solutions provider based in Bengaluru and established in 2012, has secured $4 million (approximately INR 33.58 crores) in its Series-A funding round. The round was co-led by Heritas Capital and existing investor UBS Optimus Foundation, with participation from other current investors including Gray Matters Capital, 1Crowd, The Chennai Angels, The Joka Angel Network, and others. The investment will be utilized to enhance Kreedo’s product offerings and facilitate expansion into new geographic markets.
(Source: VC Circle, 28th August 2024)
Laiqa wellness raises $1.78 Mn in Seed Funding Round
Laiqa Wellness, a Gurugram-based femtech startup specializing in hormonal-pattern-led feminine wellness solutions, has secured $1.78 million (approximately INR 15 crores) in seed funding from IvyCap Ventures. The investment will support the expansion and advancement of Laiqa’s technology-driven solutions, which include personalized hormonal tracking, point-of-care assessments, and AI-driven recommendations that combine modern science with Ayurveda.
(Source: VC Circle, 28th August 2024)
The Hive Hostels Secures $1.4 Mn in Pre-IPO Fundraise
The Hive Hostels, a provider of student accommodation, has raised $1.4 million (approximately INR 11.5 crores) from a group of investors in its maiden external funding round. Previously bootstrapped, The Hive Hostels has secured this capital as part of its pre-IPO fundraising efforts. The funds will be used to develop luxury student residences, with plans to go public in the latter half of next year.
(Source: VC Circle, 28th August 2024)
Mergers & Acquisitions
Infibeam Acquires Rediff
Infibeam Avenues, a publicly listed payments infrastructure and SaaS company, has acquired a 54.10% stake in Rediff, one of India’s pioneering internet firms, for $2.97 million (approximately INR 25 crores). Rediff, which attracts around 55 million monthly visitors and serves over 5,000 companies with its email services, is valued at $5.5 million (about INR 46.2 crores) following the acquisition. Additionally, Infibeam will extend an interest-bearing loan of $2.97 million (around INR 25 crores) to Rediff. This acquisition will provide Infibeam Avenues with valuable insights into user behaviour, preferences, and spending patterns, creating opportunities to cross-sell financial services such as loans, insurance, and investment products.
(Source: VC Circle, 2nd August 2024)
EV Charger Maker Exicom To Acquire Tritium For $30 Mn
Exicom Tele-Systems Ltd, a domestic manufacturer of electric vehicle chargers, has finalized an agreement to acquire Tritium, an Australia-based DC fast charger company, for $29.6 million (approximately INR 248 crores). This acquisition will enable Exicom to establish a global presence in the EV charger market, leveraging Tritium’s operations in 47 countries. The deal enhances Exicom’s international footprint and reinforces its commitment to advancing research and development to foster innovation within the expanding electric vehicle industry.
(Source: VC Circle, 8th August 2024)
HCL Tech to acquire French Software Firm
HCL Technologies has reached an agreement to acquire Zeenea SAS, a software firm based in France, for $26.20 million (approximately INR 220 crores). This acquisition is aimed at expanding HCL’s data and analytics capabilities. It will allow HCL to provide a comprehensive data intelligence solution designed to help enterprises discover, govern, connect, manage, and effectively utilize data in their engineering and GenAI initiatives. The acquisition will be executed through HCL Technologies UK, a wholly-owned subsidiary of the Indian IT leader, and is anticipated to be finalized in September.
(Source: VC Circle, 9th August 2024)
Zomato Acquired Paytm’s Movie And Events Ticketing Business For $244 Mn
Indian food delivery platform Zomato has acquired the movie and events ticketing businesses of digital payments firm Paytm for $244.2 million (approximately INR 2,048 crores). This strategic move allows Zomato to diversify its offerings beyond food delivery. The acquisition strengthens Zomato’s position in India’s expansive online ticketing market for movies and live events, a sector currently led by Reliance-backed BookMyShow.
(Source: VC Circle, 21st August 2024)
SaaS Unicorn BrowserStack Buys Bug Reporting Tool Bird Eats Bugs
Software-as-a-service unicorn BrowserStack, last valued at $4 billion (around INR 33,580 crores) in 2021, has acquired a Berlin-based advantage bug reporting tool Bird Eats Bug. As a part of the deal, BrowserStack will incorporate European venture capital firm Nauta Capital-backed Bird Eats Bug’s capabilities in its ecosystem and launch a mutual testing solution Bug Capture. BrowserStack has committed a total of $20 million (approximately INR 168 crores) to the deal. The investment includes upfront cash, stock, and future investment for product development.
(Source: VC Circle, 28th August 2024)