Emerging Entrepreneurs

Tracking deals: Matrix Partners invests in Itilite

| Updated on January 09, 2018 Published on November 13, 2017

Matrix Partners India has invested in B2B travel SaaS provider Itilite. It will use the money to strengthen the technology platform and expand the team. A number of angel investors also participated in the round. Itilite is an end-to-end corporate travel management solution that seeks to reduce cost by rewarding employees for saving on travel, making them ambassadors of travel cost reduction.

OneAssist gets funds from Sarin

OneAssist Consumer Solutions, which provides assistance and protection services in areas such as wallet, smartphones and gadgets, has raised funds from Arun Sarin, former CEO of the Vodafone group. This is part of the company’s Series C round.

Matrix Partners India invests in Gobasco

Matrix Partners India has invested an undisclosed amount in Gobasco, an agri-tech start-up that provides solutions for supply chain optimisation. The company will use the funds to expand the team and scale its technology platform for agri-related SMEs and farmers.

First Carlyle exits Cyient

First Carlyle Ventures Mauritius has sold its entire stake in IT firm Cyient Ltd, through an open market transaction on the stock exchanges. First Carlyle sold 1.10 crore shares, representing 9.86 per cent stake in Cyient, at an average price of ₹544.43 a share, for a total consideration of about ₹604.28 crore.

Norwest sells Cholamandalam stake

Norwest Venture Partners has sold about 21 lakh shares in Cholamandalam Investment and Finance Co, for over ₹250 crore through open market transactions. The shares were sold at about ₹1,200.20 each, valuing the transaction at ₹251.14 crore. At the end of the September quarter, Norwest held over 59.22 lakh shares, or a 3.79 per cent stake, in the Chennai-headquartered Murugappa group company. Our Bureau

Published on November 13, 2017
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