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Crisil buys Pragmatix for ₹56 cr
Rating agency Crisil has acquired data analytics company Pragmatix Services Pvt Ltd for ₹56 crore. Pragmatix, founded by banking professionals, provides solutions in the data to intelligence lifecycle to the banking, financial services and insurance vertical. It provides descriptive, prescriptive and predictive analytics delivered through its proprietary enterprise data analytics platform. Pragmatix has built and deployed solutions across the risk, sales and finance domains in India, West Asia and North America. It has 110 employees.
Nuvepro gets ₹2.6-cr funding
Nuvepro, a managed cloud environment solutions provider, has raised ₹2.6 crore ($400,000) in seed funding led by 1Crowd and its investor community. It will use the money for R&D and to expand. 1Crowd is an angel investment platform focussed on early stage ventures. It has more than 500 investors, 50 mentors and has made over 10 investments since March 2016.
Paragon Partners receives ₹780 cr
Paragon Partners has secured commitments of nearly ₹780 crore ($120 million) for its maiden private equity fund, Paragon Partners Growth Fund – I, from a diverse mix of domestic and global investors. The fund’s limited partners include a large sovereign wealth fund, a development financial institution, fund of funds, insurance companies, family offices and wealthy individuals. Paragon makes investments ranging from $10-15 million per transaction picking up significant minority stakes. It has made four investments aggregating about $45 million.
RedBook secures seed funding
Mumbai-based Instinct Innovations has raised an undisclosed amount in a seed round of funding led by Vida Ventures and Aniruddha Malpani for its RedBook platform. RedBook, being used by over 500 pharmacies in Mumbai, acts as the base for a proprietary artificial intelligence engine that offers insights on drug consumption patterns. The company will use the money to scale RedBook pan India.
Lotte acquires Havmor
Lotte Confectionery of Korea has bought Ahmedabad-based Havmor Ice Cream Ltd for ₹1,020 crore, marking its entry into the Indian ice cream market. Havmor has over 30,000 outlets in the country.
Serial entrepreneur buys Pulsus
Hyderabad-based serial entrepreneur Srinubabu has bought Canada-based scientific medical informatics company Pulsus Group for an undisclosed amount, to enter the scientific and medical informatics market. Pulsus will expand in India with centres in Chennai and Gurgaon, in addition to the Hyderabad centre.
Seed funding for TotalCloud
TotalCloud, which provides immersive visualisation to cloud monitoring and management, has got seed funding from Speciale Invest, Axilor and angel investors. It will use the money for product development and marketingOur Bureau
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