Comments
Flipkart has closed an additional $160 million (Rs 975 crore) funding, taking the total raised in this round to $360 million. The investors in this round of funding were Dragoneer Investment Group, Morgan Stanley Investment Management, Sofina and Vulcan Capital, apart from one of Flipkart’s earliest investors, Tiger Global. In July, it had raised $200 million from existing investors, including Naspers.
Flipkart said the funds would be used to build its technology and supply chain capabilities, develop the talent pool and improve end-user experience.
Flipkart’s other investors include Accel Partners and ICONIQ Capital. A leading e-commerce platform, Flipkart was founded in 2007 and offers products across 17 categories. So far, Flipkart has raised over $500 million through various rounds of funding.
Druva gets $25 m in Series C funding
Druva, which provides integrated data protection and governance solutions, has raised $25 million (about Rs 150 crore) in Series C funding, for its inSync platform. This round of funding, adding to the $ 17 million raised in Series A and B rounds in 2010 and 2011, includes follow-on investments from Sequoia Capital and Nexus Venture Partners, as well as a substantial first-time investment from Tenaya Capital.
The new funding will underwrite continued R&D, expanded global sales and marketing, and expansion of Druva’s cloud infrastructure to support new deployments by large enterprises. Druva has 2,100 customers and protects 1.7 million endpoints across 76 countries.
New Silk buys stake in Moshe’s Fine Foods
Private equity and growth capital firm New Silk Route has bought a majority stake in Mumbai-based Moshe’s Fine Foods, a restaurant and café chain specialising in Mediterranean cuisine. New Silk Route, which did not disclose investment details, made this acquisition through South Asia Gastronomy Enterprises, LLC, a food and beverage portfolio company. This is the second investment by the Gastronomy holding company, which is looking at investing in food and beverage companies. Moshe’s operates in Mumbai through three formats – two casual dining restaurants, seven cafes and two quick-service restaurants. Moshe’s also operates a high-end catering business and its range of baked goods, desserts and savouries are also sold at high-end retail outlets.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.