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Kstart, INSEAD invest in StanPlus
StanPlus, a Hyderabad-based medical transportation start-up, has raised about ₹7 crore ($1.1 million) in seed funding round led by Kstart and co-invested by CM Diamant, a chain of medical centres and hospital in Canada and Africa, and INSEAD Angels (Asia). It will use the money to increase its advance-life support fleet, expand across geographies and cover all medical transportation categories. StanPlus receives an average of 60 calls a day. It has a fleet of over 300 ambulances and more than 60 ambulance operators on board.
Paynear buys GoSwiff
Paynear Solutions, a Hyderabad-based transaction processing company, has bought GoSwiff International Pvt Ltd, a Singapore-based financial solutions provider. This acquisition helps increase Paynear’s footprint in 16 countries in Asia, Europe, Africa and West Asia.
Yaantra raises ₹20 crore
Existing investors Carpediem Capital Partners and Duane Park have led the fourth round of equity funding of about ₹20 crore ($3.1 million) in Yaantra, a mobile repair and refurbishment company. Yaantra, which sells refurbished multi-brand smartphones with warranty and also provides on-demand repair service, will use the money to expand operations in 25 tier-II cities by 2018. The company has so far raised about $10 million, including a $6-million round in September 2016.
Ola receives $1.1 b from Tencent
Ride-sharing app Ola has raised about ₹7,150 crore ($1.1 billion) in one of its largest fund-raising rounds, led by Tencent Holdings of China and participation from SoftBank and US-based financial investors. Ola has so far raised over $4 billion from investors and is in advanced talks to raise an additional $1 billion as part of the current financing round. Ola, which is in competition with the US-based Uber, will use the money to invest in supply and technology. The money will also be used in new markets to build the driver ecosystem, where it will hand out high incentives to bring on-board new drivers.
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