Deals RoundUp: Calcutta Angels, Zeroinfy, PayU, Citrus Pay, FloCareer, LensPick, Scadea Solutions, Furlenco, Lightbox Ventures, MosChip Semiconductor Technology & elitePLUS Semiconductor Technologies
Hyderabad-based leading semiconductor company MosChip Semiconductor Technology has signed final agreements for the acquisition of three companies: elitePLUS Semiconductor Technologies Pvt. Ltd., and Orange Semiconductors Pvt. Ltd., both located in Bangalore, India, as well as Maven Systems of Pune, India.
Calcutta Angels Buys 10% Stake in Kolkata Based Online Study Platform Zeroinfy
Calcutta Angels Network (CAN) has picked up a 10% stake in a Kolkata-based online study platform Zeroinfy for an undisclosed amount. The newly raised seed funding will be used to expand team as well as further enhance technology. Part of the money will be used to acquire customer and faculty, as reported by ET.
Started in July 2015, Zeroinfy claims to have more than 50 instructors from different fields who serve as content creators. With digital marketing, Zeroinfy has started getting traction from tier-II cities like Durgapur, Asansol, Bhubaneswar and Vijaywada.
PayU Agrees to Acquire Its Rival Citrus Pay for $130M
Naspers-owned online payments service provider PayU has agreed to acquire Mumbai based rival Citrus Pay for $130 million. The all-cash transaction will be closed by the end of the year and is also expected to yield handsome cash returns to venture capital investors who backed the five-year-old company, reported ET.
The agreement enables PayU to quickly bring additional innovative financial services to market for its business and consumer customers. The merged entity will process a forecasted 150 million transactions in 2016, worth a combined $4.2 billion, and will grow at over 50% annually. It is expected to reach more than 20 million customers and over two lakh merchants.
Talent Acquisition Startup FloCareer Gets $150K From Angel Investors
Bengaluru-based skills validation platform FloCareer has raised $150,000 in Seed funding from senior officials in the technology segment from US and India. The other investors who also participated in the round include Balasubramanian Krishnamurthy, former VP-Engineering of SAP, and Sidhartha Hazarika, a technology evangelist from US. The startup aims to utilize the raised funding to build and strengthen its offerings. It aims to become the largest aggregator of crowd mentoring, self-learning and interview offloading, reported Inc42.
LensPick Bags Funding From US-Based Scadea Solutions
Ecommerce platform for eye wear, LensPick which is owned and operated by Venkart Ecom Private Limited, has raised second round of funding from US-based Scadea Solutions Inc. With this round of funding, Scadea Solutions will acquire a 10% stake in LensPick at latter’s valuation of $5 million.
The raised funding will be used for inventory enhancement and technology upgradation as part of the company’s plans to increase its online presence, reported BusinessStandard.
Founded in 2013, Lens Pick is an online retailer for prescription and non-prescription eyewear. It guarantees highest quality optical products at the most affordable prices.
Online Furniture Rental Startup Furlenco Bags More Funding from Lightbox
Online furniture rental startup Furlenco is raising a new round of investment from existing investor Lightbox Ventures and others.
Lightbox, which closed its new fund in May this year, has put in $5 million in this round, according to filings made with the Registrar of Companies, reported VCCircle.
MosChip Semiconductor Technology Buys Three Companies in the IoT and Semiconductor Industry
Hyderabad-based leading semiconductor company MosChip Semiconductor Technology has signed final agreements for the acquisition of three companies: elitePLUS Semiconductor Technologies Pvt. Ltd., and Orange Semiconductors Pvt. Ltd., both located in Bangalore, India, as well as Maven Systems of Pune, India. MosChip has made the acquisitions as part of the company’s growth plans in the Internet of Things (IoT) area and semiconductor industry as well as to expand client base in the NA, EU, and APAC regions, reported IIFL.
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