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FourKites, a predictive supply chain platform, has raised about ₹225 crore ($35 million) in a Series B round led by August Capital. Existing investors Bain Capital Ventures and Hyde Park Venture Partners participated in the funding. FourKites will use the money to enter new markets and expand the product portfolio. It will double its engineering talent pool and build new teams by this year-end.
SmartShift and Porter to merge
SmartShift by Mahindra, an on-demand logistics provider, will merge with Porter, a tech-enabled logistics start-up in the goods transportation space founded in 2014 by three IIT alumni. Mahindra plans to invest ₹65 crore in the two entities. The merged entity would be called Mahindra SmartShift, with both brands Porter and SmartShift continuing to service customers and partner-drivers. The merger is expected to help in a pan-India reach in the shared mobility space.
Seed funding for Doodhwala
Doodhwala, a micro delivery service for fresh groceries, has received about ₹14 crore ($2.2 milion) in seed investment from venture capital firm Omnivore Partners. The hyperlocal delivery platform, Doodhwala, is a subscription based, early-morning delivery platform for farm fresh groceries. It operates in Bengaluru and Pune. It will use the money to enter new market, improve technology and hire talent.
Trilyo raises ₹1.62 crore
Bengaluru-based AI platform for the hospitality industry Trilyo has raised about ₹1.62 crore ($250,000) from Startup Buddy, Pulse Venture Capital and Amit Manocha. The B2B hospitality industry SaaS company that offers AI-driven voice and chat based solutions will use the money to scale operations in India and SouthEast Asia.
KKR sells 6% in Cafe Coffee Day
KKR has sold a nearly 6 per cent stake in Coffee Day Enterprises, which owns the Cafe Coffee Day chain, for ₹405 crore through open market transactions. Coffee Day Enterprises’ promoter Malvika Hegde was among the buyers.
₹330-cr funding for NestAway
NestAway Technologies, a home rental network, has raised ₹330 crore ($51 million) in a Series D round from Goldman Sachs, and the HK and UC-RNT Fund, a joint venture between Tata Sons’ chairman emeritus Ratan Tata’s RNT Associates and the University of California and Schroder Adveq. IDG India and Tiger Global aksi participated in this round. It will use the money to expand operations.
Zomato raises ₹975 cr from Alibaba arm
Online food discovery and ordering platform Zomato has raised about ₹975 crore ($150 million) from Alibaba’s financial services arm Ant Financial Services Group. As part of the transaction, Ant Financial is buying $50 million worth of shares from Info Edge, listed on the Indian stock exchanges, and the parent company of Zomato, taking the total funding to ₹1,300 crore ($200 million). Zomato will use the money to invest in product and technology and to offer more convenient and seamless payment options to its partners.
Urban Ladder receives ₹78 cr
Urban Ladder, a furniture and home decor brand, has raised about ₹78 crore ($12 million) from existing investors Kalaari Capital, SAIF Partners, Sequoia Capital and Steadview Capital. It will use the money to build on its omni-channel strategy. Our Bureau
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