Tracking deals

Original Source    2018-04-03 05:04

Feedback Infra Pvt Ltd, a leading provider of professional and technical services in the infrastructure space, has raised ₹685 crore from Asia-focussed private equity fund ADV Partners. The last time Feedback raised equity was in 2006 when L&T acquired a stake in the Gurgaon-headquartered company. Through this deal, L&T has sold its stake to ADV and IDFC, another investor, has reduced its stake to comply with banking regulations. Feedback Infra will use some of the money raised to prune debt and to fuel its next phase of growth. HDFC, IDFC Bank and L&T Infrastructure Finance have been the external shareholders in Feedback Infra.

Chennai-based cloud billing solutions provider Chargebee has raised about ₹117 crore ($18 million) in a Series C round led by New York-based Insight Venture Partners. Existing investors Accel Partners and Tiger Global Management participated in this round. This round takes the total funding the company has raised to $25 million.

Trifecta Capital has provided ₹6.5 crore in venture debt to Samast Technologies Pvt Ltd, which owns and operates magicpin, a leading platform for driving discovery and commerce for offline retail. The company will use the money to grow the business.

Early-stage venture capital fund Fireside Ventures has closed its first fund at ₹340 crore. It plans to invest in 25 consumer brand businesses from the fund over the next two-three years. It had achieved a first close of ₹180 crore in May 2017, from which it has invested in 10 ventures across food and beverages, personal care and home products. The investors in the fund include Premji Invest, WestBridge Capital, Mariwala Family Office, Unilever Ventures, Emami, RP-Sanjiv Goenka Family Office, Hero Enterprise Investment Office and ITC.

Global Sports Commerce, a sports technology and management company, has raised ₹530 crore ($80 million) in a Series D round from Emerald Media, the pan-Asia media and entertainment focussed investment arm of KKR. The investment is a combination of primary and secondary, with Series B investor Fidelis World exiting the busines. ADV Partners, which had invested in the Series C round, continues to hold a significant minority stake. Global Sports Commerce and its affiliate Techfront will use the capital to explore global acquisitions and develop next generation technologies for the sporting ecosystem.

PhonePe, a fintech company, has received ₹518 crore in fresh funding from its parent, Flipkart. It will use the money to strengthen its operations. The PhonePe app is based on the Unified Payment Interface platform.

Delhi-based fintech start-up Cash Suvidha has raised about ₹6.5 crore ($1million) in pre-Series A funding from Initia Holdings Ltd, Vipin Agarwal, Partner in India Industrial Growth Fund and others. Cash Suvidha, which gives business loans to SMEs, MSMEs, women entrepreneurs and personal loans to individuals, will use the money to increase the loan books and to strengthen its technological infrastructure.

Roadcast, a tech-driven asset monitoring, fleet management and vehicle tracking platfrom, has raised about ₹1.62 crore ($250,000) in an angel round from wealthy individuals from the UAE. The company will use the money to expand operations across major cities in India, with a focus on Punjab, Rajasthan, Madhya Pradesh, Maharashtra, Uttar Pradesh and Gujarat.

Bengaluru based fintech company SmartCoin has raised about ₹13 crore ($2 million) in pre-Series A funding from a Chinese VC fund and Accion Venture Lab. Existing investor Unicorn India Ventures also participated in this round, along with ISME ACE, a fintech accelerator. SmartCoin lends small-to-mid-sized loans to mobile users after building a credit score, which is backed by data science and machine learning. The company raised seed funding from Unicorn India Ventures last year. It will use the money raised now to grow the business.

Omidyar Network has led a $2.5 million Series A round in ZineOne, a Silicon Valley-headquartered customer engagement company. With this, the company has raised $5 million from investors. ZineOne uses machine learning algorithms to provide banks and retailers the ability to engage with their customers real-time. In India, ZineOne enables financial institutions to provide a digital experience to their customers. The company will use the money to accelerate sales, marketing and for a product roadmap. It will also recruit talent in artificial intelligence and machine learning.

California-based technology start-up AgShift has raised $2 million from Exfinity Ventures. The money will be used to strengthen product development and expand customer reach. AgShift is in the process of building an autonomous food inspection system using machine learning and artificial intelligence to reduce global food waste. This is the first investment in the agri-tech space for Exfinity Ventures, whose partners include TV Mohandas Pai and V Balakrishnan.

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