KKR, a global investment firm, and Rakuten Group, Inc., (“Rakuten”) announced the signing of definitive agreements under which a fund managed by KKR will purchase Rakuten’s stake in Seiyu (the “Company”), a leading, nationwide supermarket chain in Japan. With this purchase, KKR increases its stake in Seiyu from 65% to 85% Following this transaction, Rakuten…
Electric vehicle charging infra platform CHARGE+ZONE announced raising $54 million (Rs 450 crore) in Series A1 funding round led by global impact investment management firm BlueOrchard Finance, according to PTI report. Additionally, the company plans to raise $75-100 million in equity as part of Series A2 during 2023-2024, CHARGE+ZONE said in a statement. The current…
HCLTech, a global technology company, announced that State Farm, the provider of auto, home, and commercial insurance, has selected the company to reimagine its IT service desk and infrastructure operations. HCLTech will leverage its differentiated portfolio and proven execution capabilities to accelerate the modernization of its hybrid cloud environment for State Farm, a statement said.…
BeatO, a comprehensive digital care platform for controlling and reversing diabetes, announced the appointment of Siddharth Sehgal as its new CFO. Sehgal comes with more than a decade of leadership experience and 20 years of rich and diverse experience in M&A, financial planning and analysis, tax and regulatory matters. He will be responsible for re-orienting…
Covvalent, a startup that operates in the B2B speciality chemicals space, has raised $4.3 million in a seed funding round led by Nexus Venture Partners, according to the ETtech report. The startup, founded this year by IIT Kharagpur alumni Sandeep Singh and Arush Dhawan, operates as a tech-enabled managed marketplace for speciality chemicals such as…
Trelish, a premium coffee brand specializing in instant liquid coffee blends has announced a fundraise of 3.5 Cr in a recent round led by The Chennai Angels. Trelish intends to utilise the funds for geographic expansion, hiring top talent and to further strengthen the brand, a statement said. Co-Founder of Trelish, Kavita Narayanan commented on…
American multinational personal care corporation Kimberly-Clark Corporation has appointed Tamera Fenske as Chief Supply Chain Officer, effective September 19, 2022. Fenske will have global responsibilities for procurement, manufacturing, logistics, transportation, safety, and sustainability, as well as the company’s Global Nonwovens division. She will report to Mike Hsu, Chairman and Chief Executive Officer of Kimberly-Clark, and become a member of the company’s…
Chennai-based agritech startup Veg Route has raised seed funding of $1.1 million led by VGROW Ventures from the US along with Ravi Shankar Kathirvelu, Chief Business Officer, Venture Partner, and Investor also with Founders of Chennai-based Fintech Startup Ippopay – Mohan K and Jai Kumar, Hari TN Co-Founder Artha School of Entrepreneurship and Abhishek Raj…
Netcore Cloud, a Mumbai-headquartered SaaS company, announced the investment of close to $100 mn to acquire a majority stake in US-based, search-personalization company Unbxd Inc. It will also be infusing additional funding into Unbxd to propel the company’s growth in developed markets, a statement said. Founded by Pavan Sondur and Prashant Kumar in 2012, Unbxd…
Travelzoo, a global Internet media company that provides exclusive offers and experiences for members, announced that Arveena Ahluwalia has joined the Company as Global Director, Premium Membership. In this position, she will drive and manage the launch of Travelzoo’s paid subscription-based Premium Membership product, a statement said. Ahluwalia has both start-up and corporate experience with…
Qlub, a startup developing an ultra-fast payment solution for consumers in restaurants, has raised $17 million in seed financing. The investment is co-led by Cherry Ventures and Point Nine with participation from other global VCs including STV, Raed Ventures, Heartcore, Shorooq Partners, and FinTech Collective as well as numerous strategic angels, including C-level executives of major…
M2P Fintech, an API infrastructure company, announced the appointment of Sanjoy Bose as President – Global Market Expansion and Abhishek Arun as President – Platform Strategy and Commercialisation. Sanjoy, as President, Global Market Expansion will focus on International Markets with specific focus on ASEAN region, as the company is looking to expand aggressively in the coming…
Johnson & Johnson announced the appointment of several senior leaders to the Company’s Executive Committee. Separately, the Company announced that Michael Sneed, Executive Vice President, Global Corporate Affairs and Chief Communication Officer, will be retiring on April 1, 2022, the statement said. As previously announced, Alex Gorsky will serve as Executive Chairman of Johnson & Johnson and…
Rapidly expanding backpacker hostel brand, goSTOPS, has raised an additional USD 1 million bridge round within 6 months of the last million dollar Pre-Series-A round concluded early this year in June. The round was funded by existing investors – The Chennai Angels, Mumbai Angels, Yuj Ventures, Lead Angels, 1Crowd, Indian Angel Network, Chandigarh Angels Network in addition…
Clinikk, an insurtech and healthtech startup, has raised $4 million in pre-series A funding led by MassMutual Ventures, with participation from Kunal Shah (Founder, Cred), Rohit M.A. (Co-founder and MD of Cloudnine Hospitals), Anjali Bansal (Founder, Avaana Capital), Stanford Angels, and other prominent individual investors. Existing investors Times Internet Group, EMVC, 500 Startups’ Southeast Asia-focused…