#TodayDeals: Go Colors in Talks to Raise Series B Round; Twitter Co-founder Biz Stone is Returning to the Company & More
Twitter co-founder Biz Stone is returning to the company in an unspecified role.
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Here is a list of deals that happened in Indian Startup Ecosystem today including funding, merger, acquisition, fund launch etc. Read a brief description about all of them:
1. Fairfax-backed business services provider Quess Corp Ltd. (Formerly IKYA Human Capital Solutions Ltd.) has increased its stake in Coimbatore-based Heptagon Technologies Pvt. Ltd to 46% from 26%. The firm bought an additional 20% stake for $655,000 (around Rs 4.2 crore), it said in a stock market disclosure, reported VCCircle. Heptagon was founded in July 2015 by Sankarappan Rajesh, Rengasamy Vignesh and Veeraraghavan Vijayramkumar.
2. Chennai-based Go Fashion (India) Pvt. Ltd, which sells legwear for women through its online platform Go Colors, is in talks for raising Series B round of funding with a clutch of private equity firms, reported VCCircle.
3. Twitter co-founder Biz Stone is returning to the company in an unspecified role. "My top focus will be to guide the company culture, that energy, that feeling," Stone said in a blog post, adding he would not be replacing anyone at Twitter when he joins the company in a couple of weeks. Twitter co-founder and current CEO Jack Dorsey asked him to come back to work at the company.
4. Bain Capital Ventures, which has backed companies including LinkedIn and DocuSign, will start investing in "angel" investors - early-stage investors. The firm is providing a relatively small amount of money. Bain Capital Ventures is to invest $2 million to $5 million annually, spread across five to 10 angel investors, reported ET.
5. Online luxury tea brand The Good Life Company has raised $1 million in Seed funding from husband-wife duo Ayesha Takia Azmi and Abu Farhan Azmi. The startup aims to utilise the raised funding to strengthen its operations in Mumbai and to expand its services in Tier-I cities like Delhi, Bengaluru, and Kolkata. It further plans to foray into international markets as well, including US, UK, Singapore, and the Middle East.
6. Consumer products maker Dabur India Ltd will acquire two South African companies for $3.8 million in cash to expand its presence on the African continent. The company will acquire D&A Cosmetics Proprietary Ltd for about $3.6 million and Atlanta Body & Health Products Proprietary Ltd for the remaining amount, Dabur said in a filing to the stock exchanges.
7. Private equity (PE) firm BanyanTree Finance Pvt. Ltd has made its second investment in the auto finance sector, acquiring a minority stake in Kanakadurga Finance Ltd (KFL). The PE firm had invested close to $10 million from BanyanTree Growth Capital Fund II in the non-banking financial company (NBFC) for a significant minority stake, reported LiveMint.
8. Private equity giant Warburg Pincus has sold a 25% stake in non-banking finance company Capital First Ltd to a bunch of local and foreign investors including Singapore sovereign wealth fund GIC Pte Ltd. Warburg Pincus now holds a 36% stake in Capital First compared with 61% earlier, the NBFC said in a stock-exchange filing on Wednesday.
Read more deals here.
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