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#TodayStartupDeals: Lead Angels to Invest in 12 Startups This Financial Year & 9 More Updates

Ride hailing service Ola (ANI Technologies Pvt. Ltd) which recently raised Rs 1,675 crore from its Japanese investor SoftBank, is likely to raise another $100 million from existing shareholders, primarily to fund its expansion plans.

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. Online financial services platform is planning to make strategic tie-up with a few potential investors to strengthen its India business and enter a few other countries, reported VCCircle. BankBazaar, operated by Chennai-based A & A Dukaan Financial Services Pvt Ltd, has already set up a subsidiary in Singapore with an investment of about $1 million. It is now looking to invest about the same amount in other growth markets such as Malaysia, the Philippines and the UAE in the current financial year. Read More

2. Lead Angels, an angel fund set up by the alumni of IITs, is targeting to invest in 12 start-ups this financial year. The angel investment group, which generally picks up 10-15 per cent of equity in the start-ups that invests, has invested in nine entities with an aggregate investments of ₹15 crore. TinMen, a Hyderabad-based meal delivery start-up that received angel funding from Lead Angels, has recently raised an undisclosed investment round from MAPE Advisory Group, R Ramaraj, Co-founder, Sify, and Corvus Ventures led by Mahesh Reddy. Existing seed investor Lead Angels has also participated in the round. Read More

3. SAP Startup Studio has selected 16 startups for its second batch. The firm has received over 700 applications; 51 startups were chosen for the final round of interviews, from which the final 16 were chosen for the program. A new batch of 16 startups working on technologies such as Artificial Intelligence, Cloud, Machine Learning and IoT across various business functions, will join the SAP Startup Studio accelerator program at SAP Labs India campus in Bangalore. Read More

4. Ride hailing service Ola (ANI Technologies Pvt. Ltd) which recently raised Rs 1,675 crore from its Japanese investor SoftBank, is likely to raise another $100 million from existing shareholders, primarily to fund its expansion plans. The company’s board has approved raising "up to $100 million (about Rs 670 crore) by issue of 495,526 Series 'l1' preference shares of face value Rs 10 each at a price per subscription share equivalent to Rs 13,521". Read More

5. ZappRx, Inc., a digital health company focused on modernizing and expediting the specialty drug prescribing process, today announced it closed $25 million in Series B funding led by Qiming US Healthcare Fund, a venture capital firm based in Seattle that is part of a broader family of Qiming Venture Partners. The Series B round included participation from SR One, who led ZappRx's Series A round in 2014, and GV (formerly Google Ventures). As part of the financing, Mark McDade, Managing Partner at Qiming US, will join ZappRx's Board of Directors. Read More

7. Bengaluru-based Narayan Hrudalaya is planning to acquire NewRise Healthcare for $28M, from Panacea Biotec Ltd for Rs 180 crore i.e. $28M, (including debt), to set up its first hospital in Gurgaon. The deal intends to consolidate the company’s footprint in the northern region. It had been reported in 2014 that Panacea Biotec had put the Gurgaon-based hospital on the block and was looking to sell the asset at around Rs 200 crore. NewRise has a near-complete multi-specialty hospital with 230 beds. The hospital is likely to be commissioned within nine months. The company, which was founded in 2000 by Devi Prasad Shetty, has a network of 23 hospitals and seven heart centres across India. Read More

8. Bengaluru-based online grocer BigBasket and Gurugram-based hyperlocal grocery delivery startup Grofers, are in talks for a potential merger, reported Livemint. If the proposed deal falls into place, Japanese investment major SoftBank will invest $60 Mn-$100 Mn in the merged entity. Read More

9. Samara Capital, a mid-market India-focused private equity fund, has bought out 100% of Sanjay Maintenance Services Pvt. Ltd. (SMS), one of the largest facilities management for an undisclosed amount. ET reported that Samara had invested about Rs 140 crore ($20 million) for the acquisition and plans to spend an additional $30 million behind bolt-in buyouts for geographical expansion and to widen the service offerings. Read More

10. American e-commerce marketplace eBay looks to close sale of its India business to Flipkart early in the second half of this year and hopes its $500-million investment in and strategic partnership with the country's top online marketplace will boost its India play, reported ET. "We're committed to winning in India through this partnership," said Devin Wenig, CEO at eBay. Read More

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