The Carlyle Group has bought a 54.85 per cent stake in Chennai-based Newgen Knowledge Works Pvt Ltd, for about ₹200 crore ($32.8 million). Carlyle acquired the stake held by Franklin Templeton Private Equity Strategy, Aureos South Asia Fund and ePlanet Capital. Carlyle, a global alternative asset manager, had invested in Newgen in 2004 and exited its investment in 2011. Newgen is a provider of publishing and technical services for leading publishers, particularly in the US, the UK and Europe.
Suven Life raises ₹200 cr
Suven Life Sciences has raised ₹200 crore through a qualified institutional placement. The money will be used for clinical development and capital expenditure. After the issue, the promoters will hold 59 per cent against 64.76 per cent now. The company is in the business of design, manufacture and supply of bulk actives, drug intermediates and fine chemicals.
Flipkart founders Sachin Bansal and Binny Bansal have invested about ₹6 crore ($1 million) in Chennai-based electric vehicle start-up Ather. Besides, Raju Venkataraman, a serial entrepreneur and CEO of medical diagnostics company Medall, has invested ₹25 lakh. Ather focuses on designing high-speed electric two-wheelers.
TinyOwl gets $3-m funding
TinyOwl, Mumbai’s location based food ordering platform, has raised $3 million from Sequoia and Nexus Venture Partners. The company will use these funds to increase its presence in Mumbai and expand into other metros. Founded in March by five IIT-Bombay alumni, the TinyOwl app is available on Android and iOS platforms and allows users to order food and have it delivered at their doorstep.
IAN invests in LoudCell
Indian Angel Network, a network of wealthy individuals that invests in and mentors start-ups, has invested in LoudCell, which aims to save diesel cost and reduce wastage and inefficiency for diesel generating set owners in India and emerging economies. LoudCell’s offerings are based on the ‘Internet of Things’ and cloud technology platform. IAN did not disclose the amount it had invested. LoudCell will use the money to grow the business, building its brand, increasing the portfolio of products and recruiting people. Our Bureau