Tracking Deals

Treebo raises ₹220 cr in Series C

Budget hotel chain Treebo Hotels has raised about ₹220 crore ($34 million) in a Series C round led by Ward Ferry Management of Hong Kong and Karst Peak Capital. Existing investors SAIF Partners, Matrix Partners India and Bertelsmann India Investments participated in the round. The company will use the money in brand-building, strengthening its technology team and expanding its presence. It had previously raised $23 million over two rounds.

Bombay Shaving gets ₹15 cr

Bombay Shaving Company, a men’s consumer care products company, has raised about ₹15 crore ($2.3 million) in a pre-Series A round led by Fireside Venture Fund. Nine existing investors, including S Ramadorai, former Vice-Chairman, TCS, and Pankaj Gupta, Supply Director at USL Diageo, participated in the financing round. The company will use the money to increase branding efforts, develop new products and expand offline sales channels.

₹45-cr funding for Mobikon

Mobikon, a leading marketing and customer engagement platform for the food and beverages industry, has raised about ₹45 crore in a Series B funding round with participation from Sistema Asia Fund, C31 Ventures (Singapore) and Qualgro, and existing investors Jungle Ventures and Spring Singapore. It will use the money to scale its business in India, South East Asia and West Asia.

Aahaa Stores in pre-Series A

Online office supplies platform Aahaa Stores has raised about ₹6.5 crore ($1 million) in the second round of pre-Series A funding from an investor group led by YourNest Angel Fund. The company had raised a similar amount about 18 months ago. It will use the money to expand across new verticals and geographies.

mfine receives ₹10 crore

Stellaris Venture Partners has led a ₹10- crore funding round in mfine, an AI-driven healthcare network, founded by former Myntra executives Prasad Kompalli and Ashutosh Lawania. Healthcare entrepreneurs Mayur Abhaya and Rohit MA participated in this round. mfine will shortly launch its consumer app.

Sequoia India buys Faces Cosmetics

Sequoia India has signed an agreement to acquire Faces Cosmetics Canada, along with its international subsidiaries and the brand Faces, from Indivision India Partners, managed by Everstone Capital. Faces is a Canadian colour cosmetics brand with a presence in North America. Indivision India Partners acquired it in 2007 and launched in India in December 2009. Sequoia India sees a huge opportunity for the Faces brand.

Druva raises $80 m

Druva, a cloud data protection and management company, has raised $80 million in growth equity funding, taking the total raised to about $200 million. Riverwood Capital led the latest round with strong participation from Sequoia Capital India, Nexus Venture Partners, Tenaya Capital and most other existing venture investors. Druva will use the money to accelerate research and development and expand go-to-market efforts worldwide.

Smart Software Testing Solutions invests in Crowd4test.com

Smart Software Testing Solutions Inc has invested in Crowd4Test.com, a Bengaluru-based venture that is building a SaaS platform for managed crowd testing and user experience testing. Smart Software Testing plans to integrate its pCloudy.com, a mobile device cloud platform, and its AI powered mobile app testing platform with Crowd4Test.com, to build a large crowd platform for mobile and IoT testing by 2019.

EVC Ventures sells MillBasket

EVC Ventures, a Chicago-based venture capital fund and accelerator, has exited micro-delivery grocery start-up MilkBasket, giving it a 200 per cent IRR within a year of its investment in the company, when it sold its stake to Blume Ventures and Lenovo Capital. MilkBasket had raised $500,000 in pre-Series A led by EVC Ventures with participation from investors from China and India.

OMA Emirates to set up fintech fund

OMA Emirates Group, a payments and financial technology company, has launched a dedicated fund for emerging and potential financial technology companies and start-ups in India. Through the fund, called OMA Emirates Fintech Fund, OMA Emirates will invest a corpus of $3 million in fintech start-ups that have been in operation for up to a year. In addition, it plans to invest $20 million across other fintech verticals and towards innovation of existing products and services. Our Bureau

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