Noida-based lingerie and sleepwear brand Clovia, backed by Ivy Cap Ventures and Mountain Partners AG, is ready to officially launch its overseas operations next month. The company plans to start its overseas expansion in India's neighbour Nepal before it ventures into other Asian regions, Pankaj Vermani, Co-Founder, and CEO of Clovia told DEALSTREETASIA. The company sells through both online and offline distribution channels, and plans to deploy the same strategy in Nepal as well.
Punjab-based small finance bank Capital Small Finance Bank Ltd has raised Rs24.35 crore from Small Industries Development Bank of India (Sidbi) and existing investors in its latest round of fund-raising. Capital Small Finance Bank was one of the 10 entities to receive Reserve Bank of India's (RBI) in-principle approval to start small finance bank operations in September 2015. Sidbi has recently supported Capital Small Finance Bank by way of an equity investment of Rs22 crore, said a spokesperson for Sidbi in an email response.
Online freight aggregator Blackbuck has raised Rs50 crore in venture debt from InnoVen Capital. Blackbuck will use the capital for expansion of its service offerings. We are seeing strong interest from start-ups to explore venture debt as a means of financing. Our combination of on-shore/off-shore funding helps such companies optimize their funding mix & costs, said Ashish Sharma, chief executive at InnoVen Capital India.
Prenetics, a genetic testing startup, plans to expand into more Asian countries after raising a $40 million Series B led by Beyond Ventures and Alibaba Hong Kong Entrepreneurs Fund. The round also includes capital from Yuantai Investment Partners, mFund and eGarden Ventures, and brings Prenetics' total raised so far to $50 million. Alibaba Hong Kong Entrepreneurs Fund was launched as a non-profit in 2015 to support companies that can potentially contribute to Alibaba's ecosystem.
Flipkart has begun exploratory discussions with Kishore Biyani to pick up an 8-10 per cent stake in Future Lifestyle Fashions Ltd (FLF), the listed fashion arm of the Future Group. Online and offline retailers are entering each other's territories as part of an omni-channel strategy and to combat shrinking retail margins. It has large department store formats like Central and Brand Factory as well as specialist niche formats such as Planet Sports.
The Indian unit of US retail giant Amazon has leased 450,000 sq ft of office space in Chennai, according to two people aware of the company's plan, marking its second such deal this year. Amazon India had recently leased 600,000 sq ft of office space in Hyderabad, the second-largest office space deal in the country so far this year. Both Amazon India's spokesperson and C Velan, chief executive of TRIL Infopark, declined to comment on the matter.
That's how former Vine co-founder Rus Yusupov describes his new trivia game show app HQ, which feels like Who Wants To Be A Millionaire meets Facebook Live. Guess right within 10 seconds, and you move on to the next question after Scott finishes joking about the answers. He's been having his own game show fun as a judge of Apple's Shark Tankish 'Planet Of The Apps'. HQ has been slowly climbing the trivia app charts since its launch in late August.
The startup, which is announcing that it has raised $11 million in funding, was founded by CEO Brian Schechter and CTO Zach Lloyd. We aren't just talking about applying some filters, as Schechter explained when he showed me the app. Users send them pictures and specify how they want them to look, then SelfMade's team will make the requested edits. Eventually, he's hoping to offer products and pricing that are better suited to individuals.
The engineer has been vocal on Twitter about upcoming changes in the protocol. Lopp has been vocal in the hard fork debate and has worked at BitGo for almost three years and a Bitcoin enthusiast for five years. I asked him what he had been talking about recently and he felt most of his online comments were innocuous. They may simply want to extort me, similar to what has happened to several other prominent Bitcoin folks.
Tesla Inc.'s former director of battery technology has joined Plenty Inc to lead the vertical farming startup's plan to build indoor growing rooms around the world. Kurt Kelty, who joined Tesla in 2006 and left earlier this year, was one of the longest-serving executives at the carmaker led by Elon Musk. He joins SoftBank Group Corp.-backed Plenty as the senior vice president of operations and market development.
Today, Facebook announced it's acquiring positivity-focused polling startup tbh and will allow it to operate somewhat independently with its own brand. The tbh founders will become formal Facebook employees, with Facebook email addresses, opposed to running more independently like Instagram and WhatsApp, which have their own buildings and emails. It's interesting that Facebook opted to acquire tbh rather than clone it, since it has been aggressively copying other hit teen apps like Houseparty recently.
Allset has raised $5 million in Series A funding led by Greycroft. The startup's goal is to eliminate most of the wait time that comes with eating out. You make a reservation through the Allset smartphone app, and when you do, you also order your food and pay for the meal. In fact, Allset says it now works with more than 700 restaurants in nine cities, including San Francisco, New York and Los Angeles.
The show stars Reputation.com founder Michael Fertik and David Cowan of Bessemer Venture Partners. Fertik and Cowan also co-wrote the series and they took the stage at Disrupt SF to premiere the first episode. It's about time that we make more fun of ourselves in Silicon Valley, Fertik said. Sure, there's already HBO's Silicon Valley, which does plenty of research in the real-world Silicon Valley.
Andhra Pradesh state government has launched 'Designated Technology Park aka DTP Policy 2017-2020' in Amravati. 'Like no other state in the country, Andhra Pradesh is bringing in a lot of policies to support the IT sector. Andhra Pradesh state government aims to create one lakh IT jobs by 2019 and one crore sq. Recently, Andhra Pradesh also became the first state to join hands with Hyperloop Transportation Technologies to bring futuristic transportation system to the state.
Chennai-based online financial marketplace BankBazaar has raised $30 Mn in a funding round led by credit rating agency and information management company Experian. Experian will also help the startup to accelerate towards its vision of paperless access to all financial products. A massive $60 Mn funding from Amazon, Fidelity Growth Partners and Mousse Partners was done in July last year. Last month, another fintech startup in the same space, CreditVidya has raised $5 Mn in a round led by Matrix Partners India.
Arianna Huffington, the co-founder, and editor-in-chief of The Huffington Post has reportedly stated that Softbank will very likely finalise its investment deal with Uber by next week. Uber is currently valued at around $70 Bn and with this deal, SoftBank would likely invest $1 Bn-$1.25 reportedly. Earlier this month, it was reported that global cab aggregator Uber is on its way to raising massive funding from Japanese investment giant, Softbank.
This is WeWork India, the Indian arm of the New York-based coworking unicorn WeWork, launched in association with Jitu Virwani's Embassy Group. WeWork India team and Karan Virwani have a more nuanced direction in mind for the modern Indian workforce. WeWork India is actually a culmination of a lot of events, all of which happened at around the same time, says Karan Virwani, positioned as the Director of WeWork India and the man running the show.
This is the hyper-growth phase - that is, grow as fast as you can and grab as much market share as possible. Typically, hyper-growth is characterized by triple-digit year-over-year sales growth for several years and an ongoing surge in the number of your employees. If things go well, your company may grow from 30-50 employees to 700-800 employees in just 4-5 years.