PepperTap raises ₹235 cr

PepperTap, a leading on-demand hyper-local grocery delivery service, has raised about ₹235 crore ($36 million) in Series B funding. Snapdeal led the round with existing investors Sequoia India and SAIF Partners participating. New investors such as Ru-net, JAFCO and BeeNext also participated in this round of fund raise. PepperTap is in talks to expand this round by another ₹130 crore ($20 million) from other financial investors. With this, PepperTap plans to expand its presence to 75 cities by this fiscal-end.

Bestdealfinance.com gets $3 m

Bestdealfinance.com, a finance services portal that provides a technology-enabled end-to-end solution addressing loan needs of individuals and MSMEs, has raised about ₹20 crore ($ 3 million) in Series A funding. Kalaari Capital led the round with participation from YourNest Angel Fund and Globvestor & Dexter Angel Circle. The company will use the money to invest in technology infrastructure, people and customer support to fuel its growth plans.

Chinese firm buys stake in Zapak

Lead Eastern Investment Group of China has bought a 10 per cent stake in Reliance Gams’s mobile gaming company Zapak Mobile Games Pvt Ltd, for about ₹98 crore ($15 million). The two companies plan to create and market mobile games globally.

Orient Green raises ₹250 cr

Orient Green Power Co Ltd has raised ₹250 crore from existing promoter Shriram Ventures Ltd and its subsidiaries and financial investors, including EW Special Opportunities Fund II and Ecap Equities, through a preferential allotment of shares.

Paytm invests $10 m in LogiNext

Mobile commerce platform Paytm has invested about ₹65 crore ($10 million) in logistics data start-up LogiNext. This is the first round of institutional funding for LogiNext. Paytm’s investment is in line with its strategy to invest $150 million in a dozen tech start-ups over the next few months.

$2 mn funding for Fourth Partner

Fourth Partner Energy, a renewable energy services company, has raised about ₹13 crore ($ 2 million) in a Series A round. Infuse Ventures, a sustainability and clean technology fund, led this round of investment with existing investor Chennai Angels also participating. Fourth Partner Energy will use it to extend more financing options to its clients. The company has also received commitment under the Seed Capital Assistance Facility implemented through the United Nations Environment Programme and the Asian Development Bank.

Sterlite Tech buys Elitecore

Sterlite Technologies has signed an agreement to buy Ellitecore Technologies Pvt Ltd, a global telecom software product company, majority owned by First Carlyle Ventures Mauritius, for ₹180 crore in an all-cash deal. The acquisition is in line with Sterlite’s strategy of widening its telecom portfolio of offerings to its global customers with software solutions for operations support, business support and revenue management.

Alibaba, Ant Financial invest in Paytm

Chinese e-commerce giant Alibaba Group Holding and Ant Financial Services Group have invested in Paytm, a leading mobile payment and commerce platform. Paytm will use the money to achieve scale and develop its mobile commerce and payment ecosystem in India and invest in marketing, technology and talent. Our Bureau

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