Climatetech startup Ecozen raises $30 mn from Nuveen, others
Cleantech startup Ecozen Friday said it has raised $30 million (Rs 250 crore) in a mix of debt and equity from existing investors, including asset management firm Nuveen. It also raised debt from the InCred Credit Fund and the US International Development Finance Corporation (DFC). The latest funding round will be ......
Ola Cabs mulls $500 mn IPO, to appoint bankers soon
Indian ride-hailing firm Ola Cabs is planning an initial public offering (IPO) to raise $500 million at a company valuation of about $5 billion, three sources with direct knowledge of the matter told Reuters on Friday. SoftBank-backed Ola is India's answer to Uber and plans to file papers for approval with ......
PE firm ValueQuest invests in furniture rental platform
ValueQuest, a mid-market private equity fund focusing on growth to late-stage investments, has picked a stake in furniture and appliances rental platform Rentomojo as part of the startup’s Series D funding round. The PE firm, which backed the company from its S.C.A.L.E. Fund, invested in a mix of primary and secondary ......
Global PE, pension funds eyeing minority stake in Max India unit
A clutch of private equity firms and pension funds are looking to pick up a minority stake in a subsidiary of Max India Ltd, part of the $4-billion diversified conglomerate Max Group, two people aware of the development told VCCircle. Max India is the holding company of Antara, the senior care ......
MENA Digest: Penny Software, Fortis, U-topia raise funds; Beltone VC launches $30-mn fund
Funding activity picked up in the Middle East and North Africa region this week after slowing down of action during the Ramadan month. Fundraising was led early-stage and growth-stage deals in Saudi Arabian and UAE-based startups. While Saudi Arabian SaaS player Penny Software raised a pre-Series A round and UAE-based ......
Tata Motors plans Jaguar Land Rover EV imports to India under new policy
India's Tata Motors plans to import its Jaguar Land Rover (JLR) luxury electric cars under a new government policy that lowers import taxes for companies agreeing to set up local manufacturing, two Indian government sources said. Tesla is also expected to start importing its cars to India and make an investment ......
Spotlight: Can KKR-backed Hero Future catch up with green energy giants?
Back in 2012, when it was founded, Hero Future Energies (HFE) was one of a handful of renewable energy companies that looked set to dominate India’s wind and solar power landscape. After all, it was backed by the multi-billion-dollar Hero Group that has interests across automotive and electronics manufacturing, financial services ......
How was cloud consulting firm Blazeclan valued as it finds a strategic buyer?
Pune-based cloud consulting firm Blazeclan Technologies Pvt Ltd, which offers its services in eight countries apart from India, is being acquired by a Mumbai-listed company’s subsidiary looking to augment its existing suite of offerings. The software-as-a-service (SaaS) firm, which was founded in 2010, is being bought by information technology services provider ......
SaaS startup Zepic, three others raise early-stage funding
SaaS startup Zepic, kidswear brand Includ and artificial intelligence (AI)-based road safety platform Sapience Automata secured early-stage funding, the companies said on Thursday. Zepic Zepic has raised $2.1 million (Rs 17.5 crore) in a pre-seed funding round from early-stage investment firm Neon Fund along with undisclosed angel investors. Zepic is a Delaware-headquartered ......
Sanad gets LP top-up for MENA-focused MSME debt fund
The Sanad Fund for MSME, an impact investment fund that provides loans and equity financing to local financial institutions in the Middle East, North, and sub-Saharan Africa is set to get additional backing from an existing limited partner for its debt investment vehicle. The Luxembourg-headquartered fund is on track to get ......
