Funds advised by Motilal Oswal Private Equity have invested ₹90 crore in Kurlon Enterprise Ltd, a leading mattress and foam manufacturer. Kurlon will use the money to increase capacity, on the distribution network and improve the brand.
Quifers gets funding from IAN
The Indian Angel Network (IAN), a leading angel network group, and Smile, a leading consumer internet and media platform, have invested ₹2 crore in Quifers, a tech-driven logistics firm based in Mumbai. Quifers will use the money to expand to other cities, improve the technology platform and recruit staff to strengthen the core team.
Snapdeal pumps ₹130 cr into Gojavas
Online marketplace Snapdeal has invested about ₹130 crore ($20 million) in logistics company Gojavas. This is Snapdeal’s second round of investment in Gojavas. It had entered into a partnership with Gojavas and made its first investment in March. The investment is to build capacities and strengthen the supply chain ecosystem.
Sumitomo picks stake in Spacewood
Sumitomo Forestry of Japan has picked up a 26 per cent equity stake in Spacewood, a leading furniture company. This is Sumitomo Forestry’s first such investment in India. The alliance will help Spacewood become a full-line interiors products company and grow its existing modular furniture business. As part of the alliance, Spacewood will set up a pre-hung doors manufacturing facility in Nagpur at an investment of ₹25 crore. Sumitomo Foresty is a large forestry, housing and timber and building materials trading company. Spacewood will also increase its retail footprint from 15 stores to about 50.
Inayo raises ₹1.95 cr in seed round
Mumbai-based on-demand healthcare marketplace Inayo has raised about ₹1.95 crore ($300,000) in seed funding from Kemark Ventures, angel investor Zishaan Hayath and others. Inayo is a mobile app platform aimed at simplifying medication and healthcare. The company has over 30,000 products across categories such as medicines, ayurvedic products, sports nutrition, personal care and baby care.
Apax Partners buys stake in Zensar
Marina Holdco (FPI) Ltd, a company backed by funds advised by Apax Partners, has picked up a 23.2 per cent stake in Zensar Technologies for ₹859 crore. It bought the stake held by Electra Partners Mauritius. Zensar, an RPG group company, has end-to-end capabilities in Oracle implementation and maintenance and in e-commerce solutions.
Nano-local commerce app Bounty raises seed round
The Bengaluru-based nano-local commerce app, Bounty, has raised an undisclosed seed round from Fireside Ventures, Mumbai Angels and MAPE Advisory group. Basab Pradhan, former Global Head of Sales and Marketing at Infosys, and Apurva Salarpuria of real estate firm Salarpuria also participated in this round. Bounty is a platform for customers to earn rewards seamlessly and for retail businesses to drive footfall, track customer behaviour within the store and incentivise purchases. The seven-month-old start-up will use the money to expand to other cities, add new retail categories and increase product and technology stacks.
IFC to invest $25 mn in bigbasket.com
The International Finance Corporation plans to invest $25 million in equity for a minority stake in online grocery store bigbasket.com. The private sector lending arm of the World Bank will invest in the Bengaluru-based Supermarket Grocery Supplies Pvt Ltd, which is engaged in the wholesale trading and supply of groceries, provisions, fruits, vegetables and related household products. Supermarket Grocery Supplies is the principal supplier and intellectual property licensor to bigbasket.com.
Little acquires Trideal
Little, an app only marketplace in the online to offline space, has acquired Trideal, a Chandigarh-based curated deals marketplace. The size of the deal was not disclosed. Incubated in Chitkara University, Punjab, Trideal offers deals across F&B, wellness and entertainment with over 1,000 merchants. Little, launched in July, had got $50 million funding from Paytm, SAIF Partners and Tiger Global Management Our Bureau