Bajaj Finance has invested ₹₹225 crore for a 10.83 per cent stake in mobile wallet company MobiKwik. This is the fourth round of funding for MobiKwik, which will use the fresh funds to expand the payments business and build new product lines.
Eight Roads invests in PlasmaGen
Bengaluru-based PlasmaGen BioSciences, a biopharma company that makes blood plasma derived products including Albumin and Immunoglobins, has raised about ₹160 crore ($25 million) from venture capital firm Eight Roads Ventures and its sister fund F-Prime. This is the first time PlasmaGen has raised external funding. It will use the money to expand product portfolio, strengthen its product portfolio and deepen market penetration.
Lendingkart raises ₹65 cr in debt
Lendingkart Finance Ltd has raised about ₹65 crore ($10 million) in debt from Kotak Mahindra Bank, Aditya Birla Financial Services and other financial institutions. Lendingkart Finance is a non-deposit taking NBFC offering small business loans to SMEs.
Jhakaas gets pre-Series A funding
Jhakaas Technologies, which enables local businesses to create an online presence, has raised an undisclosed amount in a pre-Series A round from US based investor Amen Dhyllon. The money will be used to improve the technology and expand the network throughout India. It had earlier raised ₹1 crore ($154,000) in seed funding.
Advent to acquire stake in Dixcy
Global private equity investor Advent International will acquire a significant stake in Dixcy Textiles Pvt Ltd, a leading innerwear brand in India. Dixcy’s Founder and Managing Director Prem Prakash Sikka will retain a stake in the company and continue as Chairma. The deal size was not disclosed. This is Advent’s fourth investment in India since 2015, following its purchase of stake in Crompton Greaves Consumer Electricals, QuEST Global Services and ASK Group.
BookMyShow acquires Nfusion
BookMyShow, an online entertainment ticketing platform, has bought Nfusion, a media platform, for an undisclosed amount in an all-cash deal. This will help BookMyShow to foray into audio entertainment. Nfusion was set up as a high definition video-on-demand platform that allowed users to stream videos online.
Snapdeal calls off merger talks with Flipkart
Snapdeal has called off talks to merge itself with online marketplace Flipkart, after almost six months of negotiations. It will now focus on growing independently, version 2.0 of Snapdeal. Last week, Snapdeal sold Freecharge, a digital wallet company to Axis Bank for about ₹385 crore ($60 million). Snapdeal is also looking to sell non-core assets like its logistics services firm Vulcan Express to be financially self-sustainable.
Max India shelves HDFC Life merger plan
Max India has shelved plans to merge Max Life and Max Financial Services with HDFC Standard Life Insurance, due to delays in the merger process. The exclusivity agreement with HDFC Life ended on July 31 and was not renewed.
INVECAS to buy US co’s biz
INVECAS Technologies, which provides solutions to the semiconductor industry, will buy the US-based Lattice Semiconductor Corporation’s HDMI design team and Simplay Labs subsidiary, which oversees standards compliance and inter-operability testing services, in a deal valued at ₹32 crore.
JSW Ventures invests in LimeTray
JSW Ventures has invested an undisclosed amount in LimeTray, which provides SaaS based solutions to restaurants. LimeTray will use the money to strengthen its ‘restaurant OS’ product suite and expand in international markets. It offers a suite of software products to restaurants to help them with commerce, billing, channel management, customer engagement and digital marketing. Our Bureau