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Ola buys digital payment co Qarth
Ola, a leading mobile app for transportation, has acquired Chennai-based Qarth Technologies Pvt Ltd, an IIT Madras incubated start-up that offers a multi-bank IMPS mobile solution. The founders and the team of Qarth will join Ola Money to build solutions to provide a seamless payment experience. The payments space is fast evolving and Ola is investing in building digital payment solutions.
Unitus invests in OneClickWash
Unitus Seed Fund has invested an undisclosed amount in OneClickWash, a Gurgaon-based laundry service provider. The start-up will use the money to scale up its team, improve its marketing capability and set up more units in Gurgaon. It now has three units in Gurgaon and can process up to 2,000 kg of laundry a day. The company is looking to double capacity in the next few months.
Girnar gets funds from Google Capital
Google Capital has led a fresh round of investment in Girnar Software, the parent company of auto portal CarDekho.com, with existing investor Hillhouse Capital participating. The company will use the money to strengthen technology, R&D and expand within India and outside.
BigBasket raises $150 million
Dubai-based private equity firm Abraaj has led a $150-million round investment in online grocer BigBasket. The other investors are International Finance Corporation and Sands Capital, and existing investors Bessemer Venture Partners, Helion Advisors, Zodius Capital and Accent Capital. The company will use the money to grow its business and expand to tier-II cities.
IAN invests in SP Robotics
Indian Angel Network, a leading group of wealthy individuals that invests in and mentors start-ups, has invested ₹2 crore in Chennai-based SP Robotic Works. The skill development start-up is focussed on creating an ecosystem for school students to learn and experiment with robotics.
Motilal Oswal PE picks stake in IEX
Funds managed or advised by Motilal Oswal Private Equity have invested ₹98 crore for a 4.1 per cent stake in Indian Energy Exchange. It picked up the stake from Jindal Power Ltd. Our Bureau
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