Employee Benefits and InsurTech platform Pazcare announced that it has raised $8.2 million led by Jafco Asia. The round also saw participation from existing investors 3One4 Capital and BEENEXT. The fresh round of funds will be used to further strengthen and expand the product line and in the growth of the business. Post this round…
Baffle, Inc., a US-based cloud data protection company, announced that it is establishing an Asia-Pacific (APAC) presence and expanding its global footprint with the launch of a new engineering center in Bengaluru, Karnataka. Over the next year, the company plans to expand its workforce significantly. Taking advantage of the tremendous expertise available in India’s largest…
International design firm Space Matrix announced the acquisition of Pursuite, a B2B e-commerce platform in the hospitality sector. Pursuite, with business operations across Asia and Europe, is an online solution for procurement of Operational Supplies & Equipment (OS&E) and Furniture, Fixtures & Equipment (FF&E) segments. Amit Shukla, Founder and CEO of Pursuite and Former CTO of…
Boehringer Ingelheim announced the signing of an option to acquire Trutino Biosciences Inc., a San Diego-based biotech company. Trutino Biosciences is a pre-clinical stage biotech company dedicated to the discovery and development of next-generation cytokine therapies to treat immuno-oncology and autoimmune diseases. Boehringer Ingelheim is dedicated to a two-pronged research strategy to fight cancers:…
Genesys International Corporation, a 3D Mapping content and geospatial solutions company, announced a Rs. 250 Cr. round of equity investment led by Malabar India Fund. Other marquee investors Sundar Iyer, Mathew Cyriac, Inder Soni, Vijay Karnani, Ashish Nanda, Kamlesh Shah, Sanjana Deepak Gupta and Abhinaya Chakravarthi also participated in the funding round. The company plans…
Wipro Limited, a global information technology, consulting, and business process services company, is increasing its investment locally in Norway to help its clients capitalize on digital transformation. Within the next two years the company is looking to grow from 85 to 350 employees in Norway. “The increased local investment is part of our new operating…
Park+, a mobile-first car ownership super app, announced its acquisition of Otopark, a community driven parking solution provider which connects people looking for parking spots with people who have spare parking space inventory. Through this acquisition, Park+ has achieved 100% coverage in the Mumbai Metropolitan Region (MMR). Additionally, all Otopark employees will be absorbed by Park+…
BCG Digital Ventures (BCGDV), the corporate innovation and business-building arm of Boston Consulting Group (BCG), is opening innovation centers in New Delhi, Mumbai, and Casablanca. BCGDV will join an established BCG network presence in India and Morocco, creating the opportunity to leverage the combined efforts of BCGDV with BCG GAMMA and BCG Platinion to transform key markets and industries…
Direct-to-Consumer (D2C) skincare brand Foxtale has raised $4 million funding led by Matrix Partners India. Existing investor Kae Capital also participated in the funding round, along with angel investors. Launched in December 2021 by Romita Mazumdar, Foxtale focuses on affordable skincare products. The company presently sells online and clocks most of its sales through its…
Adani and energy supermajor TotalEnergies of France have entered into a new partnership to jointly create the world’s largest green hydrogen ecosystem. In this strategic alliance, TotalEnergies will acquire 25% minority interest in Adani New Industries Ltd (ANIL) from Adani Enterprises Ltd (AEL). The new partnership, centered on green hydrogen, is expected to transform the…
Apollo announced that funds managed by its affiliates (the Apollo Funds) have agreed to acquire Cardenas Markets (Cardenas), a leading grocery retailer focused on serving the Hispanic community, from investment funds affiliated with KKR, a leading global investment firm. Upon completion of the transaction, Apollo Funds will combine Tony’s Fresh Market, a Chicago-based portfolio company,…
Tata Consultancy Services (TCS) announced plans to continue growing its footprint in Minnesota by expanding its hiring program in the coming year and accelerating its STEM outreach efforts in local schools to cover 50% more students and teachers. “We’re incredibly excited that a global leader in STEM jobs and education programs is expanding here in…
Unwind Mind announced the closing of its pre-seed funding round wherein it raises Rs. 2 Cr. at a Valuation of Rs. 15 Cr. with participation from strategic investors, including Yogesh Chaudhary and Marwari Catalysts. Unwind Mind is a D2C venture aiming to enter into D2C fashion brands. Further, the startup will use the funding to aid…
Omnichannel eyewear brand Lenskart has raised $28 million from Avendus Future Leaders Fund II, according to the startup’s regulatory filings. Existing investors Temasek, Schroder Adveq and others also participated in the funding round. Lenskart will invest a portion of the funding round in its direct-to-commerce (D2C) roll-up commerce venture Neso Brands, according to ETtech report.…
Non-Banking Financial Company IIFL Finance Limited said that its wholly owned subsidiary IIFL Home Finance Limited, an affordable housing finance company, has entered into definitive agreements for raising ₹2,200 Cr of primary capital for a 20% stake from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA). Speaking on the occasion, Nirmal Jain,…