CDC, NDFC and other acronyms in the India credit story
Paper’s daily briefing — December 6, 2017
The United Kingdom’s CDC Group, a development finance institution owned by the UK Government, has invested ₹65 Cr in Veritas Finance. As early as August 2017, LiveMint’s been reporting discussions between the two sides for a ₹100 Cr investment. That appears to be indeed true, with existing investor Lok Capital’s growth fund also participating in this round by investing ₹40 Cr.
Incidentally, the Netherland Development Finance Company or Nederlandse Financierings- Maatschappij voor Ontwikkelingslanden N.V. has invested via non-convertible debentures in Neogrowth Credit. The Mumbai-headquartered NBFC specializing in quick business loans, that has Quona Capital, Omidyar Network, Khosla Impact, IIFL Seed Ventures and Deutsche Bank-led Global Commercial Microfinance Consortium II on its captable, has raised ₹323 Cr via the NCD route over the course of 2017.
Bringing clarity
One reader brought to our attention the fact that he completely missed reading the compilation of deals below our signature.
Some other readers expressed surprise at the absence of any press reports relating to some of the deals we’ve mentioned previously.
There’s a simple reason for that.
The deals at the top of every briefing are surfaced from our proprietary engine and not via press reports.
Its our way of saying —
This is what you get on Paper (https://paper.vc).
The day’s updates on financings, acquisitions, funds and people from around the globe.
Thursday, December 7, 2017
India
Flintobox, Chennai-based edutech startup, has raised Series A round of $7 million from Lightbox. (BusinessStandard)
Dunzo, daily-task management app, has raised $12 million from Google. Existing investors Blume Ventures and Aspada also participated in the round.
HandyTrain, corporate training platform, has received $1 million in a pre-Series A round led by Dubai-based NB Ventures. (VCCircle)
Mobycy, a bike-sharing startup, has raised $500,000 in seed funding from a group of angel investors. (ET)
Happay, an expense management platform for enterprises, has raised $10 million in a Series B round led by existing investor Sequoia Capital. Also, participating in the round are Axiom Capital, AME Cloud Ventures, VC fund by Yahoo co-founder Jerry Yang. (VCCircle)
Greenlight Planet, a cleantech startup with operations in India and Africa, has raised $60 million in a new funding round led by London-based private equity fund manager Apis Partners. Existing investors Eight Roads Ventures and Bamboo Capital Partners also participated. (VCCircle)
China / Japan / Korea
WM Motors, a Chinese electric vehicle startup, is reported to be raising fresh capital in a funding round led by Baidu Capital. Amiba Capital, Chinese VC firm and Susquehanna International Group LLP, US Trading firm are also reportedly participating in the round. (Reuters)
Health2Sync, a diabetes management platform, has raised Series B round of $6 million from Sompo Holdings Inc, a large Japanese insurance group, Alibaba Group and WI Harper Group. (E27)
North America
Boom Supersonic, a Denver-based startup that is building a supersonic passenger aircraft has received a $10 million investment from Japan Airlines. (BusinessInsider)
NGData, a Customer experience startup, has sourced $19 million in a Series C round from HPE Growth Capital. Existing investors Idinvest Partners, Pamica, SmartFin Capital, Capricorn Venture Partners and Nausicaa Ventures also participated in the round. (NewYorkBusinessJournal)
Lyft, ride-sharing company, has received a $500 million boost to its existing funding round of $ 1 billion. CapitalG had led the initial round of $1 billion and now participating in the round are Fidelity Management & Research Company and Ontario Teachers’ Pension Plan, AllianceBernstein, Baillie Gifford, KKR, Janus Henderson Investors, and Rakuten. (Fortune)
Indigo, an agri-tech startup, has raised more than $200 million in a fresh round of funding from investors including Investment Corporation of Dubai, a state-owned sovereign wealth fund. (Reuters)
CaliberMind, a tech startup, has raised ~ $3.3 million of fresh capital to accelerate product development and scale marketing efforts. (BizWest)
LaunchDarkly, feature management platform, has raised $21 million from Redpoint Ventures and Vertex Ventures. (CNBC)
Earny, California-based startup that helps users get refund for purchases in case of price drop, has raised $9 million from Mayfield, Comcast Ventures and Science Inc. (TechCrunch)
Stateless, a tech startup, has raised $1.4 million in seed round led by Speedinvest with participation EVO Venture Partners, Techstars, PV Ventures and Service Provider Capital. (PEHub)
Europe
Cytora, AI-driven underwriting startup, has raised ~ $5.8 million in a funding round from Hank Greenberg, Chairman of Starr Companies, QBE and Cambridge Innovation Capital. (Financial Times)
Goodbox, a fintech firm and Zoomdoc, a healthcare services startup, have recieved undisclosed amount of investment from Tennis player, Andy Murray. (Independent)
M&A
Intuit Inc., is acquiring TSheets, an Idaho-based startup that helps users manage and track their work hours, for $340 million. (BloombergQuint)
Apple has acquired Pop Up Archive, an online platform that helps, organize and search audio files. The commercials of the deal are undisclosed. (NiemanLab)
Henchman, operated by global logistics company Rico Logistics Ltd., has acquired Jinn, London-based on-demand delivery startup that had shut down. (TechCrunch)
Sprout Capital has acquired Simply Measured, a social media analytics startup. Commercials of the deal have not been disclosed. (GeekWire)
++++
Paper.vc is India’s only data-driven private investment platform. Sign in to https://paper.vc to get live updates as they happen.
