Mahindra Partners and Eight Roads Ventures have led a ₹135-crore ($21 million) Series B investment round in Medwell Ventures Pvt Ltd, which operates the Nightingales speciality home healthcare services. FPrime Capital Partners, existing angel investors and the founders participated in this round. This is Mahindra Partners’ first investment in the healthcare sector. Medwell had raised $10 million in a Series A round led by Eights Roads Ventures in May 2015, with which it expanded from one branch in Bengaluru to 13 branches in four cities. It has cumulatively $35 million across seed, Series A and Series B rounds.

Investment platform for real estate

Canada Pension Plan Investment Board (CPPIB) and The Phoenix Mills Ltd have announced an investment platform, Island Star Mall Developers Pvt Ltd, to develop, own and operate retail-led mixed-used development across India. Initially, CPPIB will own a 30 per cent stake in the platform with an equity commitment of ₹724 crore (C$ 149 million). It plans to invest about ₹1,600 crore (C$330 million), in multiple tranches, to own up to a 49 per cent stake in the platform. The pre-money enterprise valuation of Island Star Mall Developers is pegged at ₹2,200 crore (C$ 454 million).

Fingerlix receives ₹19 crore

Ready-to-cook fresh food solutions brand Fingerlix has raised about ₹19.48 crore ($3 million) in Series A funding from Zephyr Peacock. It will use the money to expand operations in Mumbai, expand to Pune and Bengaluru and build its product line. It will also scale up the team.

RedDoorz raises ₹6.5-cr debt

RedDoorz, an online budget hotel brand and booking platform, has raised about ₹6.5 crore ($1 million) in venture debt from InnoVen Capital, a venture debt company owned by Singapore’s Temasek Holdings and United Overseas Bank. This is an extension of RedDoorz’s Series A round, led by the Asia Investment Fund of Susquehanna International Group, International Finance Corporation and Jungle Ventures, raised in 2016.

10-cr funding for Twenty Two Motors

Gurgaon-based Twenty Two Motors Pvt Ltd has raised about ₹10.5 crore ($1.6 million) in a pre-Series A round of funding led by Ishwar Singh, CEO, Haryana Industries with participation from others. The company was incorporated in August 2016 to make cutting edge electric vehicle technology affordable. It hopes to deliver a smart scooter in the first quarter of 2018. The money will be used to build and prove the product.

Aspada invests ₹18 cr in Waycool

Aspada Investment Company, a venture capital firm, has invested about ₹18 crore ($2.7 million) in Chennai-based Waycool Foods and Products. Waycool is a fresh produce distribution company that sources fruits and vegetables from small-hold farmers and aggregators and sells through multiple channels. It will use it to expand its operations to other cities, including Bengaluru and Hyderabad.

True North, others pick up stake Religare

A consortium of investors led by True North (formerly India Value Fund) will buy out the 80 per cent stake held by Religare Enterprises Ltd in Religare Health Insurance Company Ltd. The consortium includes domestic investors such as Gaurav Dalmia and Faering Capital. The transaction values Religare Health Insurance at ₹1,300 crore.

Village Capital, others invest in Simulanis

Village Capital and a group of angel investors, including Pawanjit Ahluwalia, Chairman, India Skills; Apurva Chamaria, Vice-President and Head – Corporate Marketing, HCL Technologies; and, Mridul Upreti, CEO, Segregated Funds Group – Jones Lang LaSalle, have made a pre-Series A investment in Simulanis, a Delhi-based augmented reality and virtual reality technology development company that crates e-learning, skills development and gamified content. Simulanis will use the money to expand its sales team and for the pharmaceutical and automotive sectors and also explore other domains for which it can develop content. Our Bureau

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