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Global private equity firm Warburg Pincus has picked up a 20 per cent stake in Bharti Telemedia Ltd, the DTH arm of Airtel, for about ₹2,275 crore ($350 million). Bharti Airtel will sell 15 per cent and another Bharti entity that holds 5 per cent will sell the balance. Airtel’s DTH service has about 14 million subscribers and about ₹3,575 crore ($550 million) in revenues for the 12 months ended September 2017. Once the deal is completed, Airtel will hold 80 per cent stake in Bharti Telemedia.
Teabox raises ₹45 cr in Series B
Teabox, a premium online tea seller, has raised about ₹45 crore in a Series B round led by Singapore-based investment firm RB Investments, with participation from existing investors. DBS Bank will participate in this funding round by providing venture debt. Teabox will use the money to expand back-end infrastructure and support growth in key markets.
LCatterton invests in Impresario
L Catterton Asia, the Asian unit of the global consumer-focussed private equity firm, has invested in Impresario Entertainment & Hospitality, a leading player in multi-brand casual dining in India. Impresario’s brands include Social, Smoke House Delhi, Mocha and Slink & Bardot.
Swiggy acqui-hires 48East
Food ordering and delivery platform Swiggy has acqui-hired Bengaluru-based gourmet Asian food start-up 48East. It offers a new menu every week, operates five kitchens, processes 9,000 orders a month and serves over a dozen areas in Bengaluru.
Clip gets funding from Matrix
Matrix Partners India has led the Series A investment in Clip, a local language video platform. Existing investors Shunwei Capital and India Quotient also participated in this round of fund raise, the size of which was not disclosed. Clip will use the funds to expand the team and scale the technology platform.
HomeLane raises ₹65 crore
Online home interiors brand HomeLane has raised about ₹65 crore ($10 million) from Accel Partners, Sequoia Capital and RB Investments in a Series D round. It will use the money to grow the business and for improving technology. With this, the company has raised $25 million so far.
₹18-cr funding for Cash Suvidha
Delhi-based fintech start-up Cash Suvidha, the trade name of Usha Financial Services Pvt Ltd has raised about ₹18 crore ($2.7 million) in debt from six financial institutions. The money will be used to lend to SMEs and for personal loans, particularly in Delhi-NCR, Bengaluru, Pune, Hyderabad and Mumbai. Our Bureau
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