Mohandas Pai Invests in HR Software Firm DarwinboxDarwinbox, a human resources software-as-aservice (SaaS) startup, has raised an undisclosed amount in early-stage seed funding led by Mohandas Pai’s 3one4 Capital, Endiya Partners and Tracxn Labs.
Launched in August, 2015, Hyderabad-based Darwinbox is a human resources technology and analytics company founded by Jayant Paleti, Rohit Chennamaneni and Chaitanya Peddi. Currently consisting of five modules, Darwinbox plans to use a part of the funds to build more modules and the other towards marketing and sales to expand the product across the country – Mumbai being their next target, as ET reported.
Online Payment Gateway Solution Razorpay Raises Funding from MasterCardAmerican payments and financial services company MasterCard has invested an undisclosed amount in Bengaluru-based Razorpay, an online payment gateway solution for small and medium enterprises and platforms, reported ET.
The equity-based investment in the company backed by Tiger Global is MasterCard’s second investment. In 2013, it had invested in Chicago-headquartered analytics company Mu Sigma.
The company had raised Rs 64 crore from Tiger Global in Series A and Matrix Partners along with multiple angel investors in the seed round. The 33 angel investors include Jeff Huber, senior vice president at Google X; Snapdeal cofounders Kunal Bahl and Rohit Bansal; InMobi cofounders; and former Flipkart chief product officer Punit Soni.
Instago Raises $500K from Multiple InvestorsIntra-city travel application Instago that helps users compare prices and book the cheapest mode of transport across different categories including on-demand taxis, autos, public transport and self-drive options has raised $500,000 from multiple investors including angel investor Ramit Sethi of Strongbox Ventures, as per ET report.
Founded in 2015 by Nakul Khanna, Anmol Ahlawat and Aneesh Seth, Instago collates information from multiple transport agencies and commuter generated content for real-time information on different modes of transport. The portal also compiles data through API integration with on-demand transport service providers to provide expected time of arrival and other information to the commuters.
Jaipur Based Eternal Heart Care Centre Bags PE FundingEternal Heart Care Centre and Research Institute Pvt Ltd, which runs a tertiary care hospital in Jaipur, has received funding from the private equity arm of LIC Housing Finance Ltd, as per VCCircle report.
The company received upwards of Rs 100 crore from LIC Housing Finance’s Urban Development Fund in the form of debt. Eternal Heart Care Centre is a 250-bed hospital that offers cardiology, cardiac surgery, neurology, neuro surgery, orthopaedic, joint replacement, spine surgery and critical care services, among others. The hospital was founded by Samin K Sharma, who previously worked as a cardiologist at Mount Sinai Hospital, New York, with which it now has a knowledge-sharing arrangement.
Biryani Blues Secures Bridge Round from Carpediem, OthersGurgaon-based Thea Kitchen Pvt. Ltd, which runs quick service restaurant (QSR) brand Biryani Blues, has raised fresh capital in a bridge round of funding from a mix of existing and new investors, as reported by VCCircle.
Raymond Andrews, the firm’s director, said the company has raised the capital from private equity firm Carpediem Capital Partners and two high-profile investors. He said the firm has raised Rs 2.5 crore ($368,000) in this round of which Carpediem Capital has invested Rs 1 crore.
Biryani Blues currently operates five company-owned outlets in Gurgaon and two in Delhi. The firm is planning to have a dozen units in Delhi-NCR in the long term.
The company, which specialises in Mughlai cuisine, especially Hyderabadi biryani, had raised an undisclosed amount in Series A round of funding from Carpedium Capital last year.
Muthoot Fincorp in Talks with Global PE Funds to Raise up to $75MMuthoot Fincorp is in advanced talks with foreign private equity funds to raise Rs 400-500 crore for its microfinance business, as per ET report. The fund raising in the micro finance business is expected to conclude in a couple of months and the funds will be used for business expansion. The transaction will help the company more than double its asset book from Rs 2,100 crore to Rs 5,000 crore in two to three years.
"Yes, we are looking to raise funds and are in serious talks with some large foreign PE funds. I cannot divulge any names at this moment. This is part of our strategy to de-risk assets by diversifying into non-gold credit businesses," Muthoot Fincorp chairman Thomas John Muthoot said.
Zee Shopping Appoints 5ideas’ founder Gaurav Kachru as CEOZee Shopping, a joint venture between Zee Media Group and India Today Group, has appointed Gaurav Kachru as its chief executing officer (CEO). Kachru, the co-founder and managing director of seed-stage startup fund 5ideas Startup Superfuel, has held leadership positions in corporations such as Transportation and Manpower Inc. as regional director for Asia. Previously, he co-founded two e-commerce companies – fashionandyou.com & dealsandyou.com with his wife Pearl Uppal. Before founding 5ideas, Kachru worked as a CEO of internet and TV commerce for India Today Group.
