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John Chambers, Executive Chairman, Cisco, has participated in the Series B round of fund raise by IIT Madras incubated start-up Uniphore Software Systems. This is Chambers’ first investment in a start-up outside the US. He has been designated with the title “Chief Guru” in Uniphore. The company will use the money to deepen core research driving product enhancement, upgrade its customer service infrastructure, expand its sales reach to newer geographies and recruit new talent to support its growth.
Google pumps ₹80 cr in Dunzo
Google has invested about ₹80 crore ($12 million) for a significant minority stake in hyper-local concierge and delivery player Dunzo. This is Google’s first direct investment in a start-up in India. Dunzo’s earlier investors include Blume Ventures and Aspada.
Chumbak raises ₹85-crore funds
Lifestyle brand Chumbak has raised ₹85 crore in a round led by Gaja Capital, with existing investors Matrix Partners India, Seedfund and Narayan Ramachandran, former country head Morgan Stanley, also participating. Chumbak plans to expand its offline presence by opening 20-25 stores a year, improve its online presence and enter new products such as personal care.
IIFL buys stake in Nazara Tech
India Infoline Finance’s Special Opportunities Fund has bought a minority stake for ₹330 crore in mobile game developer and distributor Nazara Technologies. WestBridge Capital-backed Nazara plans to go for a public issue to raise about ₹1,000 crore.
Avagmah acquires Acadgild
AEON Learning Pvt Ltd, the edtech company that offers technology to universities for their courses through its platform Avagmah, has acquired Acadgild, an online edtech start-up that offers high-end tech skills to mid-career IT professionals, for about ₹65 crore ($10 million) in an all-stock deal. AEON reaches 22,000 students in 66 countries, with 20 per cent business originating from the US.
Sequoia sheds stake in Just Dial
Two funds owned by Sequoia Capital have sold 1.5 per cent stake of Just Dial through separate bulk deals on the stock exchanges for a total consideration of ₹51.48 crore.
Shalby Hospitals gets ₹150 cr
Ahmedabad-based multi-speciality hospital chain Shalby Hospitals, which is going for an IPO, has raised ₹150 crore from anchor investors, including Goldman Sachs, Citigroup Global Markets, Axis MF, IIFL India, Reliance Nippon Life Insurance, Kotak Funds and Nomura Singapore. – Our Bureau
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