Mogae Media Chairman Sandeep Goyal Raises $15M to Fund the Acquisition of Digital StartupsSandeep Goyal, Chairman of Mogae Media, has raised around $15 million to fund the acquisition of digital startups. The new fund will be used to make late stage investments in the Digital Media and Mobile Innovation verticals; as also service sector startups, especially in the F&B, logistics, ecommerce, mcommerce and Cab pick-up space (local mobility) with mobile enabled platforms.
Mogae Media was launched in 2012 by Sandeep Goyal and his wife Tanya Goyal. It is a provider of integrated mobile marketing services, offering a range of mobile branding solutions. The firm has partnered with established brands like Kellogg’s India, Urban Clap, Star TV, Hero, TATA Motors, Yes Bank, Axis Bank, Kansai Nerolac, Discovery Channel, DSP Black Rock and Max Life Insurance, etc.
CX Partners Backed Security Services Firm SIS India Plans IPO, Aims to Raise $148MCX Partners-backed Security and Intelligence Services (India) Ltd (SIS) is planning for an initial public offering (IPO) of almost Rs.1,000 crore. SIS has hired Kotak Mahindra Capital Co. Ltd, ICICI Securities Ltd, Axis Capital Ltd and IIFL Holdings Ltd to manage the IPO. CX Partners had picked up a 20% stake in the security services firm for Rs.500 crore in 2012, valuing it at Rs.2,500 crore.
“The company had held several rounds of discussions with investment banks since the end of last year and they gave out the mandates a couple of weeks ago,” said one of the people familiar with the development.
Paytm to Begin Payments Bank Operations by NovemberOne97 Communications Ltd founder Vijay Shekhar Sharma, one of the 11 recipients of a payments bank licence, plans to start the bank with an initial capital of Rs.300 crore and will launch the business before November. The entity, Paytm Payment Bank Ltd, is expected to become the second biggest revenue source for the parent firm after the core payments business in about two years.
Three out of the 11 recipients have already withdrawn their applications, raising concerns around the business model of payments banks, but Paytm is eyeing a break-even in three to five years. “It is not an easy business and is a long-term game. It should take any payment bank three to five years to make money. If you have enough volumes, you could reach there faster,” said Sharma in an interview to
DealStreetAsia.
Paytm Payment Bank will be 49% owned by One97 and 51% by Sharma.
Cyfuture to Invest Rs 250 Cr to Expand Its Data Center and BPO Businesses in IndiaNoida-based Cyfuture is planning to invest a total Rs 250 crores to expand its data center and BPO businesses in India. THe firm is already in talks with venture capitalists (VCs) to raise around $10 million to partially fund this expansion.
The company, which has a data center in Jaipur and Noida, has already invested Rs 50 crores for its bigger data centers in Noida with 500 racks, which will be launched in coming two-three months, Anuj Bairathi, chief executive officer of Cyfuture India, told
ET.
It will further invest Rs 75 crore each for two new data centers in Mumbai and Bengaluru.
Flipkart Introduces Online 'No Cost EMI' Option to Make Online Shopping AffordableTo make online shopping affordable for high-end purchases, Flipkart has introduced "No Cost EMI" option through an attractive financing option of Equated Monthly Installments (EMI) where customers will not bear additional cost.
Flipkart's "No Cost EMI" entails zero processing fee, zero down payment and zero interest for customers.
"This is the first step towards making shopping truly affordable for masses online and brands have shown great enthusiasm to collaborate with us. This has the potential to disrupt online shopping just like we did with Cash on Delivery a few years ago," Mayank Jain, head of digital and consumer financial services, Flipkart,
said in a statement.
With the introduction of "No Cost EMI" option, Flipkart aims to enable more people to get access to products they aspire for.
White Unicorn Ventures Launches Incubation Co-Working Space Called ‘Unigrowth Centre’Mumbai-based early stage investment firm, White Unicorn Ventures has launched its incubation co-working space called ‘Unigrowth Centre’, where offices can accommodate approx. six companies with a workforce of four to 10 people per company.
The startups selected to be the part of first growth centre are Unstockify, a B2B online deal discovery platform; Blue Blox Consultancy, an independent business advisory company; PrimeSquares, a tech enabled commercial + retail real estate Platform; and Aarchon & Nature-Nam.
The co-working space will offer a range of services including 24×7 access, offers a wide range of facilities such as round the clock security, Wi-Fi experience, UPS backup, open office environment, laser printer, scanner, coffee & tea, recreation area, terrace garden, video conferencing, conference rooms, cafeteria, and lounge facilities to the occupants.
Revvx Graduates Four Startups In The First Batch Of Its Accelerator ProgrammeRevvx, one of the early hardware accelerators in the country, has graduated four startups in the first batch of its accelerator programme. Revvx presented the startups in a demo day last week. The demo day had all the four startups presenting their ideas to an audience consisting of investors, corporate innovation houses, and ecosystem players. Chetan Maini, founder of electric car Reva recalled his entrepreneurial journey and spoke extensively on the challenges he faced in his initial days and explained how he converted them into opportunities.
Hyderabad Angels Commits $2.2M To 12 Startups On Monday, Hyderabad Angels (HA) announced adding 12 startups this year to its current portfolio. The angel investor network has already invested Rs 15 crore in 12 others over the last one year (2015-16).
Established in early 2012, HA has invested Rs 30 crore across 20 startups so far. Of the 12 companies invested in 2015-16, two are follow-up rounds in its existing portfolio of companies, with the rest being new additions.
HT Media Agrees To Acquire 8.31 % Stake In Koovs
HT Media is purchasing 12 million shares at 0.25 pounds each, it said in a stock exchange filing. The deal is subject to approval from Koovs pls, and is expected to close by 30th June 2016. HT Media Ltd., one of India’s largest media houses, has agreed to acquire 8.31 per cent stake in Koovs. This investment comes close on the heels of Koovs raising 21.9 million pounds ($32 million), mainly from existing investors and the rest from institutional investors, including Ruffer LLP.
Adusumalli Ceases To Be A Non-executive Director At Just DialRavi Adusumalli, managing partner at SAIF Partners, has left the board of Just Dial Ltd after the venture capital firm sold part of its stake in the local search engine. Multi-stage private investment firm SAIF Partners was the first large institutional investor to back Just Dial way back in 2006. It first invested Rs 55 crore in Just Dial. It invested more later, along with Tiger Global and Sequoia Capital, and also picked up some shares of an existing shareholder.
