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Zovi founders Manish Chopra and Satish Mani have raised $50 million and will launch Little, a diversification into the growing online-to-offline market. Little will be app-only and targets to be the largest consumer lifestyle deals marketplace. Paytm led the investment round, along with a large new undisclosed investor, and participation from existing investors SAIF Partners and Tiger Global Management. Little will use the money to build the largest merchant ecosystem, hire senior level talent and build new technology.
Noodle Play gets ₹1-cr funding
Noodle Play, Mumbai’s Chindian 29 minutes or free delivery start-up, has raised ₹1 crore from its own delivery-led customers. The start-up now delivers to six locations in Mumbai – Bandra, Khar, Powai, Lower Parel, Worli and Goregaon – the personalised Chinese delivery start-up plans to open deliver outposts in over 50 locations by 2016 before moving to other metros and tier-2 cities. Those who have contributed to the fund raise are Elliot Stechman, Managing Director, EK Wireless; Gautam Sinha, co-founder, myfirstcheque; and, Ambarish Ray, Director and Chief Operating Officer, Metal Communications.
KKR invests $150 m in JBF Group
Private equity firm KKR will invest $150 million in JBF Industries Ltd, a manufacturer of polyester value-chain products. KKR will use a portion of the proceeds to acquire a 20 per cent stake in JBF and the balance will be invested in zero-coupon convertible preference shares with 14.5 per cent voting rights in JBF Global Pte Ltd, Singapore. KKR will make this investment from the KKR Special Situations Fund.
Alok Mittal supports CueLearn
Alok Mittal, former Managing Director of Canaan Partners, has invested in CueLearn, a portfolio company of Unitus Seed Fund, which supports start-ups innovating for the masses. CueLearn’s flagship product CueMath is a new approach to maths learning that involves a gamified and engaging blend of worksheets and tablet-based technology. Mittal is now co-founder and CEO, Indifi, a platform for enabling debt financing for small businesses.
Infuse invests in Glowship.com
Online marketplace Glowship.com, which is focussed on energy and environment categories, has raised an undisclosed sum from Infuse Ventures, an early-stage venture capital firm focussed on the sustainability and clean energy sectors. Infuse is backed by IIM-A’s Centre for Innovation Incubation and Entrepreneurship. Glowship provides consumers access to products and solutions in energy and environment sectors and will use the money to expand the team, build the technology platform and expand its market reach.
Helion pumps $3 m in Doormint
On demand home service provider Doormint has raised about $3 million in Series A funding from venture capital firm Helion Ventures. It will use the money to expand its service network in Mumbai and establish a presence in other cities.
More funds for Practo
Practo, a leading healthcare platform, has raised $90 million in Series C funding led by Tencent of China. Others that participated in this round are Sofina, Google Capital, Altimeter Capital, Sequoia Capital Global Equities, Yuri Milner and existing investors Sequoia India and Matrix Partners India. It has so far raised $125 million. Over the next six months, Practo will expand its product lines and continue to look for acquisitions of companies to cover key healthcare segments. Its footprint will expand from 35 Indian cities and three countries now to over 100 Indian cities and 10 countries across South East Asia, Latin America, West Asia and Eastern Europe.
IAN invests in Saahas
Indian Angel Network, a leading angel network group, has invested an undisclosed sum in Saahas Waste Management Pvt Ltd. Saahas is a Bengaluru-based social enterprise that focuses on decentralised waste management processes. Upaya Social Ventures also joined this funding round. Saahas focuses on organic waste management along with collection and recycling of packaging waste and e-waste. Saahas will use the money to hire key senior members in the team. It also expects to increase waste handling from 20 tonnes a day now to 80 tonnes in the next 3-5 years.
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