Packing batteries with more punch
Indian researchers are working on cells that can store more energy, last longer
Northern Arc raises ₹910 crore
Northern Arc Capital, a non-banking finance company, has raised about ₹910 crore ($130 million) from IIFL Special Opportunities Fund and its series managed by IIFL Asset Management Ltd, SCPE (Standard Chartered Private Equity) and Affirma Capital. With this, Northern Arc Capital has raised about ₹1,400 crore ($200 million) in equity. After this transaction, existing investors Dvara Trust, LeapFrog Investments and Accion will partially sell their stake in the company. Northern Arc, which facilitates the flow of debt capital to under-served sectors, will use the fresh capital to grow its existing business and pursue new opportunities.
Bigbasket secures ₹1,040 crore
Online grocer Bigbasker has raised about ₹1,040 crore ($150 million) in a Series F round of funding, taking it into the Unicorn league. Korean investment firm Mirae Asset, Alibaba.com and UK's CDC Group plc participated in this round.
SoftBank invests in Delhivery
Logistics company Delhivery has raised about ₹2,770 crore ($400 million) in a round led by SoftBank Vision Fund. Existing investors Carlyle and Fosun have participated in this round. Delhivery, which broke into the Unicorn club with this round, will use the money to increase its reach to cover more areas, grow e-commerce market share investment and expand its supply chain platform to enterprise customers and small and medium enterprises.
BeatO gets ₹12 cr in pre-Series A
Delhi-based health tech start-up BeatO has raised ₹11.75 crore in a pre-Series A round. Orios Venture Partners led the round with participation from existing investors Blume Ventures, Leo Capital and Vishal Sampat. The company, which focusses on meeting the end-to-end needs of diabetics, will use the money to increase its user base, expand the product line and on improving the platform.
₹80-cr funding for Veritas Finance
Veritas Finance Pvt Ltd, a non-banking finance company focussed on lending to micro and small businesses, has raised ₹80 crore through non-convertible debentures, from Microfinance Initiataive for Asia Debt Fund and BlueOrchard Microfinance Fund.
Omidyar announces ₹16-cr grant
Omidyar Network India has given a ₹16- crore grant for a multi-organisation research consortium that will focus on issues linked to secure rights to assets. The grant will fund Brookings India, National Council of Applied Economic Research and National Institute of Public Finance Policy to develop solutions to address challenges in providing secure access to land, housing and property rights.
Indian researchers are working on cells that can store more energy, last longer
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