Unitus Seed Fund and BS Nagesh, a retail industry veteran, have invested an undisclosed amount in Bengaluru-based online tailoring service Urban Tailor. The venture will use the money to expand its services in Bengaluru and enter other cities. Urban Tailor provides customised stitching solutions for women’s everyday wear, with the service starting at ₹400. Since its founding in March 2015, the venture has serviced over 20,000 customers, recording a 40 per cent month-on-month growth with 52 per cent repeat customers.

Aavishkaar exits Suryoday

Two funds managed by Aavishkaar Goodwell have sold their 23 per cent stake Suryoday Microfinance. The two funds had invested a total of ₹38.5 crore in Suryoday, which has got RBI’s licence to start a small finance bank, in March 2009 and June 2012. They sold their stake in the secondary market to four funds – responsAbility, Gaja Capital, Evolvence and Americorp Group. Simultaneously, another impact investment firm Lok Capital has sold a 6 per cent stake in Suryoday to a Belgium-based family office. Lok still retains an over 11 per cent stake in the company. Simultaneously, Suryoday has raised ₹100 crore from existing investor HDFC Life and new investors IDFC Bank, ASK Group and some family offices.

ShareChat raises $1.35 million

Venture capital SAIF Partners has invested $1.35 million in ShareChat, a social content discovery and sharing platform. India Quotient also invested in this round of seed funding. It will use the money to expand into more languages and content types. ShareChat is in talks to raise a Series A round of about $7 million.

Find My Stay gets funds from IAN

Indian Angel Network, a network of wealthy individuals who invest in and mentor start-ups, has invested an undisclosed amount in Find My Stay, a reverse bidding platform for hotel booking. The venture will use the money to develop the product, build the brand and strengthen technology.

Synnex buys Minacs for $420 m

US-based Synnex has acquired BPO firm Minacs for $420 million from private equity firms CX Partners and Capital Square Partners. Consequently, Minacs will integrate with Synnex’s BPO subsidiary Concentrix. Minacs has 21,000 employees across 35 centres worldwide.

ShoppinPal raises ₹7 cr

ShoppinPal, a Pune-based retail tech start-up, has raised about ₹7 crore ($1.07 million) in its first round of equity funding from Plug and Play Tech Center, Steelhead Ventures and other investors. It will use the money to get more retailers on board, to develop the product and build the brand. ShoppinPal helps retailers and brands capture new sales by connecting them with digital platforms such as e-marketplaces. It works with top e-marketplaces in India and leading point-of-sale companies. Plug and Play Tech Center is headquartered in Silicon Valley, while Steelhead Ventures is a micro-VC fund focussed on seed stage and Series A investments.

SRI Capital invests ₹6.5 cr in WorkApps

WorkApps, an enterprise workflow collaboration company, has raised seed fund of about ₹6.5 crore ($1 million) from enterprise SAAS investor Sashi Reddi, partner, SRI Capital. WorkApps product is being rolled out simultaneously in the US, Europe and APAC later this year.

Bluestone raises ₹200 cr

Online jewellery store Bluestone.com has raised ₹200 crore from IIFL, Accel Partners, Kalaari Capital, RB Investments and IvyCap Ventures. The company has so far raised about ₹400 crore.

Franklin invest ₹100 cr in Deal4loans

Mywish Marketplaces Pvt Ltd, which operates the retail loans marketplace Deal4Loans.com, has raised about ₹100 crore ($15 million) from Franklin Templeton International Services (India) Pvt Ltd. Deal4Loans will use the money to expand the small business loans category, develop IP and build an investment platform. – Our Bureau

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