PVR buys SPI Cinemas for ₹8 45 cr
Leading multiplex operator PVR Ltd will buy Chennai-based SPIC Cinemas in a cash-cum-stock deal valued at about ₹845 crore. PVR will buy a 71.7 per cent stake in SPI Cinemas, a leading multiplex operator in South India, for ₹633 crore and issue 1.6 million equity shares of PVR constituting 3.3 per cent of the diluted paid-up equity share capital of the company at about ₹212 crore. After the deal, PVR will have 706 screens across 152 properties in 60 cities. SPI has 76 screens with another 13 likely to open in the next 12 months.
ZipGo raises ₹300 crore
ZipGo, an app-based provider of intra-city and inter-city bus services, has raised ₹300 crore from the Essel Group. The company had raised $3 million in seed investment in July 2015 from Orios Ventures. ZipGo started intra-city bus operations in Bengaluru in August 2015 and now provides intra-city and inter-city servides for individuals and companies from its regional hubs in Delhi, Bengaluru, Mumbai and Hyderabad. It had also raised $6 million in Series A investment from Ventureast and Omidyar Networks, in December 2016. It will use the money to transition to a fleet of 100 per cent electric buses, expand its fleet and routes network in existing cities and start operations in new cities.
BoonBox gets Series A funding
BoonBox, a rural e-commerce company, has raised ₹25 crore in a Series A round from Ventureast, Orios and IAN Fund. The company, which has an omni channel business model focussed on the rural markets, will use the money to strengthen its technology, enhance capabilities in last mile logistics and deepen its penetration in the 10 States where it operates. Since its inception in 2013, BoonBox has sold over 1.5 million durables to more than one million households.
Shadowfax receives ₹150 crore
Shadowfax, a leading player in the online-to-offline logistics segment, has raised about ₹150 crore ($22 million) in a Series C round led by NGP Capital. Qualcomm Ventures, Mirae Asset and existing investor Eight Roads Venture also participated in the funding round. The company will use the money to grow the business. It is now present in over 80 cities and plans to increase this to more than 100 in the next three months. It completes 90,000 orders a day.
Gold Plus Glass Industry raises ₹400 cr from Premji Invest
Gold Plus Glass Industry Ltd, a float glass manufacturer, has raised ₹400 crore from Premji Invest to fund its expansion plans. Over the next 3-4 years, the company plans to invest over ₹2,000 crore to add new float glass lines. Gold Plus now operates two float glass lines with a combined capacity of 427,000 tonnes a year, at Roorkee, Uttarakhand.
ShopX raises ₹240 cr from Fung Strategic Holdings
B2B e-commerce player ShopX has raised about ₹240 crore ($35 million) from Hong Kong headquartered Fung Strategic Holdings Ltd. ShopX, which connects retailers and kirana store owners in small towns with leading FMCG companies, will use the money to strengthen the product and technology teams.
Bounce gets ₹83cr Series A funding from Sequoia, others
Dockless scooter sharing app Metro Bikes, which has now been renamed Bounce, has raised about ₹83 crore ($12.2 million) in a Series A round led by Sequoia India and Accel Partners. Raghunandan G, founder of TaxiForSure, and a consortium of other investors participated in this round. The company will use the money to increase its network of scooters in Bengaluru to 30,000 in 10 months from 2,000 now, make the delivery model robust through technology innovation, be present in major cities across the country by 2020 and increase its team strength.
Learning platform Quiziz raises $3m from Nexus Venture Partners
Quizizz, a learning platform that helps teachers turn homework and tests into self-paced games, has raised $3 millon in a round led by Nexus Venture Partners with participation from existing investors Prime Venture Partners and angels. Quizizz, with offices in California and Bengaluru, will use the money to launch products that help students master standards specific to their grade level, school and State.
India Accelerator raises angel funding for expansion
India Accelerator, which runs mentorship driven incubation and acceleration programme for start-ups, has raised an undisclosed amount of angel funding from InvestMind Solutions Pvt Ltd and HotStart Ventures. It will use the money to diversify its offerings, have a more global reach, participate more at the later stages of a start-up, offer mentorship, peripheral servies and help start-ups with the capital to start off the business.
Observe.AI raises $8 m in Series A round led by Nexus Venture Partners
Observe.AI, which helps call centre employees do their job better, has raised $8 million in Series A funding led by Nexus Venture Partners, with participation from MGV, Liquid 2 Ventures, Hack VC and existing investors Emergent Ventures and Y Combinator. Founded in May 2017 by Akash Singh, Sharath Keshava and Swapnil Jain, Observe.AI has announced its agent-first voice AI platform to improve caller satisfaction. Headquartered in Santa Clara, California, the company has an office in Bengaluru. Its AI platform provides call centre employees with real-time feedback on customer sentiment and guides them on the next best action during a customer call.
Matrix Partners India invests in Vogo
Matrix Partners India has co-invested in Vogo, an automated scooter sharing platform for short haul commute. The Series A funding round led by ANI Technologies (Ola), also saw participation from Hero MotoCorp Chairman Pawan Munjal, Stellaris Venture Partners, and individual investors, including Aprameya Radhakrishna (Founder, TaxiForSure), Rajesh Yabaji (Founder, Blackbuck) and Mayank Bidawatka (Founder, Goodbox). Vogo is now present in Bengalure and Hyderabad and plans to add over 1,000 pick up points in these two cities in the coming year.
Matrix Partners India invests in &ME
Matrix Partners India has invested an undisclosed amount of money in &ME, a Bengaluru-based food and beverage brand focussed on women's health and wellness. &ME has launched a range of bioactive beverages for women. Our Bureau