#TodayDeals: Zomato hacked, 17M Accounts Stolen; Eatonomist Shuts Down; PaySense Gets $5.3M & More
NestAway Technologies Pvt Ltd, an Indian online home-rental startup funded partly by U.S. hedge fund Tiger Global, is in talks to raise $40 in funding.
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. Zomato has suffered a security breach on Thursday, where over 17 million user records, out of company’s 120 million users, were stolen from the food-tech company's database. The stolen information has usernames and hashed passwords of customers.
According to Hackeread.com, a user by the name of "nclay" claimed to have hacked Zomato and was willing to sell data pertaining to 17 million registered users on a popular Dark Web marketplace.
Zomato disclosed the attack in a blog post, where it also mentioned that ‘All payment related information on Zomato is stored separately from this (stolen) data in a highly secure PCI Data Security Standard (DSS) compliant vault. No payment information or credit card data has been stolen/leaked.”
In 2015, the company was hacked by a white hat hacker who reported the details to Zomato, which addressed the weaknesses, according to media reports. This time however, a report says that the stolen usernames and passwords are being sold online.
2. Food-tech startup Eatonomist, operated by Fitmeal Solutions Pvt. Ltd, has shut down its operations in less than a year after it raised funding. “We will be back shortly,” the company website says. Anisha Dhar, one of the co-founders, has joined UberEATS, the food delivery service launched by cab-hailing service Uber, while Nupur Khanna, the other co-founder, left the company in November 2016, their LinkedIn profiles show, reported VCCircle.
3. Fintech startup PaySense, which runs a digital credit platform, has raised $5.3 million in its Series-A round, led by Jungle Ventures with Naspers Group and Nexus Venture Partners. The startup had earlier raised $2.3 million from Nexus Venture Partners and angel investors in 2015. The startup will use the new funds to invest in technology and to expand its team. The company plans to take its product to more cities than the nine where it currently operates in. PaySense has 180,000 users and has disbursed loans worth Rs 30 crore in partnership with a non-banking financial company (NBFC).
4. Jasper Infotech, which owns and operates digital payments platform FreeCharge, has made a Rs 22-crore capital infusion in the company, its third such investment over the past five months, reported ET. In January, it pumped in close to Rs 390 crore into the Bengaluru-based company, followed by a second top-up of Rs 30 crore in March.
5. Sequoia-backed mobile app analytics firm Clevertap plans to raise $20 million from new and existing investors in series B round. The company will utilise the fund in improving the product, marketing and sales.
"It should take anywhere from three to six months for the round to close. The existing investors are fully backing us and will also participate in our next round of funding," Anand Jain, co-founder of CleverTap said.
6. NestAway Technologies Pvt Ltd, an Indian online home-rental startup funded partly by U.S. hedge fund Tiger Global, is in talks to raise $40 in funding. Till date, the company has raised about $40 million in three funding rounds so far from investors including Indian e-commerce company Flipkart, Russian billionaire Yuri Milner, industrialist Ratan Tata and venture capital firm IDG Ventures India.
The last funding round valued NestAway at $110 million.
The company, based in Bengaluru, formerly Bangalore, plans to go public within five years, reported Reuters.
7. Indonesian ride-hailing service Go-Jek has reportedly integrated its on-demand medicine delivery service Go-Med into Indonesian healthtech startup HaloDoc’s app. Go-Med was previously available within the Go-Jek app. Currently, users clicking on the same via the Go-Jek app are now redirected to HaloDoc’s app. With this development, HaloDoc now offers end-to-end medical consultation services.
8. New Jersey-based VC firm, Honeywell Ventures has launched an investment fund of $100 million to invest in early-stage tech startups that belong to Honeywell’s focus sectors, including aerospace, energy, safety, security, productivity and global urbanisation. As per an official statement, the investments will be facilitated via Honeywell Venture Capital LLC, a wholly-owned subsidiary of Honeywell.
9. Microfinance company Arohan Financial Services Pvt Ltd, a part of Aavishkaar-Intellecap Group, has raised a total of Rs 155.5 crores ($24 million) to fund its expansion plans. The Kolkata-based financial services firm plans to use the funds to expand its operations to Uttar Pradesh and Tripura and also strengthen its presence in its current states of operation.
10. Lighthouse Funds LLC, a mid-market private equity investor focused on the Indian consumer sector, has invested Rs 51 crore in Stylam Industries Ltd, a listed laminate manufacturer that was incorporated in 1991. Stylam designs, manufactures and markets laminates for residential, commercial and industrial purposes. The company clocked revenue of about Rs250 crore in financial year 2015-16; its revenue grew at a compound annual growth rate of over 22% over the past five years, reported LiveMint.
11. Apple on Wednesday announced the starting of initial production of iPhone SE smartphone at its Bengaluru facility. "We are beginning initial production of a small number of iPhone SE in Bengaluru. iPhone SE is the most popular and powerful phone with a four-inch display in the world and we'll begin shipping to domestic customers this month," Apple told IANS in an email.
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