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Olacabs gets ₹250-crore funding
Hong Kong-based equity hedge fund Steadview Capital and Sequoia Capital have led a Series C funding of ₹250 crore in Olacabs, a leading cab network. Existing investors Matrix Partners India and Tiger Global Management have participated in this round of funding. Ola will use the money to expand its operations to new markets and to nurture micro-entrepreneurship in the driver stakeholder segment. Ola will earmark ₹100 crore towards nurturing the driver ecosystem.
Sequoia invests $5.2 m in Akosha
Akosha, a leading online consumer service and feedback platform, has received $5.2 million funding from Sequoia Capital, including a seed round that happened earlier. The money will be used to make sizeable investments in technology and expand its OneDirect Suite of enterprise solutions such as customer service benchmarking, online feedback CRM, and reputation management solutions. Akosha connects consumers and brands for customer service and feedback.
ReNew Power raises $140 million
ReNew Power Ventures Pvt Ltd, a renewable energy independent power producer, has received additional equity investments of $140 million from a clutch of investors including Asian Development Bank, GEF SACEF India, and Goldman Sachs, an original investor in the company. The latest infusion of funds will help ReNew Power as it plans to double its clean energy portfolio to 1000 MW by 2015. With the latest round, ReNew Power has so far equity of $390 million (about ₹2,200 crore).
StanChart PE to invest in Sterlite arm
Standard Chartered Private Equity will invest ₹500 crore in Sterlite Power Grid Ventures Ltd, a subsidiary of Sterlite Technologies, for a minority stake. The money will be used for equity contribution in existing as well as new power transmission projects. Our Bureau
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