#TodayDeals: eBay to Sell its Holdings in Flipkart after Walmart Deal, Toppr Raises Rs 15.5 Cr & More
Below is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:
1. Tech-enabled, full stack QSR start-up Charcoal Eats today announced an Rs 5 crore Pre-Series A round of funding led by HNI investors. Read More...
2. Mumbai-based edtech startup Toppr has raised Rs 15.5 crore in debt financing round led by venture debt firm Alteria Capital. Earlier, the personalised learning app startup had received Rs 45 crore in its second round of Series-B funding, led by its existing investors SAIF Partners, Helion Ventures and FIL Capital Management. In April 2016, Toppr had secured $10 million in the first part of Series B funding from Fidelity Growth Partners India, SAIF, and Helion. Founded in 2013 by Zishaan Hayath and Hemanth Goteti, Toppr competes with the likes of Byju’s Learning, Unacademy, Onlinetyari and Meritnation among others. In 2017, it had acquired EasyPrep, an online entrance exam preparation platform, for an undisclosed amount. Read More...
3. Online marketplace eBay has decided to end its strategic partnership with Flipkart and intends to sell its holdings of 6.55% in Flipkart, worth around $1.1 billion, following an investment of $16 billion by the US retail giant Walmart into the Indian eCommerce player for a 77% stake. “Following the close of the transaction, we also will be ending our current strategic relationship with Flipkart, which includes unwinding our commercial agreements with Flipkart and terminating Flipkart’s license to use the eBay.in brand. We plan to relaunch eBay India with a differentiated offer to focus initially on the cross-border trade opportunity, which we believe is significant. We believe there is huge growth potential for e-commerce in India and significant opportunity for multiple players to succeed in India’s diverse, domestic market, eBay said in a statement.
4. Walmart is raising $5 billion revolving credit from several financial firms, including JPMorgan Chase and Barclays, to fund its $16-billion acquisition of e-commerce giant Flipkart. Read More...
5. Silicon Valley and Noida-based startup, Innovaccer Inc., a healthcare data platform company, has raised a Series B round of $25 million led by Westbridge Capital with participation from Lightspeed Ventures. The company plans to use the latest funding to continue building on its suite and go-to-market capabilities.This includes enhancing its data platform by doubling down on its machine learning capabilities and investing in building a set of new patient engagement applications and platform capabilities for partners to access and build upon its healthcare data platform InData. This brings the total capital raised by Innovaccer to $41 million. The overall Indian healthcare market is estimated at $100B and is expected to touch $280B by 2020, growing at a CAGR of 22.9%, according to an IBEF report.
6. After Flipkart Deal, Walmart Plans to Open 50 More Stores in 4 to 5 Years. Read More...
7. RPG group IT firm Zensar, today announced the launch of its customer delivery center in Research Triangle Park (RTP) Raleigh, North Carolina.
