Tracking deals: Fireside leads ₹20 cr round in SARVA

SARVA, a leading yoga studio chain, has raised ₹20 crore in its first institutional round led by Fireside Ventures with participation from angel investors. It will use the money to double the retail footprint, on marketing and to expand the team. Sarva has so far raised ₹35 crore, including from international investors.

Mumbai-based Incredible Technologies Pvt Ltd (CredR), a leading used motorcycles consumer brand, has raised ₹38 crore from Omidyar Network India and existing investors. CredR will use the money to go deeper into existing markets and provide better customer experience using technology by expanding tech and product teams. Prior to this round, CredR had raised funds from Eight Roads Ventures, AngelList, GrowthStory, and angel investors and venture debt from Blacksoil Capital.

Bengaluru-based indyFint, a virtual banking start-up focussed on providing short-term loans to merchants, students and employees, has raised ₹15 crore in a Series A round led by Saravanan Adiseshan, co-founder of SJ Associates. The founders of indyFint – Paddy Padmanabhan and Rajiv Kuchhal – have invested in this round in their personal capacity.

Hyderabad-based Dhruva Space, a private space company, has raised ₹5 crore from Mumbai Angels Network and other angel investors. Founded in 2014 by Abhay Egoor, Krishna Teja and Sanjay Srikanth, Dhruva enables privatisation of space assets by enabling corporates to build, launch and track constellation of small satellites.

California-headquartered fintech start-up Vested has raised an undisclosed amount of funding from IP Ventures. Vested is an SEC registered investment advisor and is building a product that will allow local investors to go global. With an office in Mumbai, Vested opens more than a 1,000 brokerage accounts each month for investors from India to invest in US-listed stocks and ETFs.

Mosaic Wellness has raised about ₹71 crore ($10 million) from Matrix Partners India, Sequoia Capital, SAIF Partners and angel investors, including Kunal Shah, Jitendra Gupta, Jaydeep Barman, Raj Dugar, Amit Lakhotia, Sahil Baruah and Rohit Kapoor. Founded by Revant Bhate and Dhyanesh Shah, both of whom have expertise in the consumer brands space, Mosaic Wellness is modelled on building a digital-first and customer-first brands in the growing D2C space. It is currently in stealth mode with plans to launch operations shortly.

Silicon Valley-based venture capital firm Accel recently closed its sixth India fund at $550 million to invest in seed and early-stage start-ups. Accel started its first fund in 2005 and has so far invested in more than 100 early-stage start-ups in the country, including Flipkart, Freshworks, Swiggy.

Windrose Capital has invested ₹4.2 crore ($600,000) in a second time follow-on investemt in Nivesh.com, a mass market technology driven financial products distributor. Windrose made the investment through The Next Billion Fund, which saw participation from other marquee investors.

Allcargo Logistics Ltd has acquired a controlling stake in express logistics company Gati Ltd, for about ₹416 crore. As part of the deal, Allcargo will buy 1.03 crore shares at ₹75 a share from some of Gati’s promoter group. It will also subscribe to a preferential issue of 1.33 crore shares at ₹75 a share and make an open offer for 3.17 crore shares at ₹75 a share.

The Canada Pension Plan Investment Board will invest up to $600 million in the National Investment and Infrastructure Fund of India. The pact includes a commitment of $150 million in the NIIF Master Fund and co-investment rights of up to $450 million in future opportunities to invest alongside the NIIF Master Fund.

E-commerce marketplace platform Flipkart has invested an undisclosed amount in Shadowfax, a full-stack logistics platform, as part of the latter’s ₹430 crore ($60 million) Series D round. The other investors in this round are Eight Roads Ventures, Nokia Growth Partners, Qualcomm Ventures, Mirae Asset Naver Fund and IFC. Shadowfax will use the money to improve technology, hire talent, expand geographical presence to 1,000 locations in the country and increase the number of shipments to 100 million a month. Our Bureau