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Deals RoundUp: Doormint, Vodafone, Fosun, Gland Pharma, Deloitte, Tohmatsu Venture Support, Spark10, Microsoft Accelerator, Modasta, Nexus Venture, Saama Capital, Mezi and Tiyo

Modasta, a multi-lingual health content portal and queries platform, has raised $1.5 million (about Rs 10 crore) from Mauritius-based high net worth individuals (HNIs).

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Home Services Platform Doormint Shuts Down Operations In Gurgaon And Bangalore

Mumbai-based home services platform Doormint has shutdown its operations in some parts of Bangalore and Gurgaon. Doormint CEO Abhinav Agarwal told Inc42 that the startup is planning to shut operations in these cities.

The option to search for a service in Gurgaon states that the service is ‘yet to expand in the locality’. Meanwhile users in Bangalore have been notified via mail that the services have been temporarily suspended from specific areas.

Vodafone Launches Rs 90 Lakh Fund to Support Innovative Mobile Solutions for Community Empowerment


Vodafone Foundation, the CSR arm of Vodafone Group, in collaboration with NASSCOM Foundation has announced a corpus of Rs 90 lakh, up from Rs 60 lakh last year, to support emerging and innovative mobile solutions for community empowerment from non-profit and for-profit organisations, enterprises, and government departments.

Both Vodafone and NASSCOM are currently inviting applications for the sixth edition of Mobile for Good awards, a platform that supports emerging new talent in developing ideas in the areas of health, education, agriculture, environment, women empowerment and inclusive development, as per ET report.

China’s Fosun to Acquire Indian Gland Pharma for $1.3B

Shanghai Fosun Pharmaceutical (Group) Co. Ltd, the Hong Kong-listed company controlled by billionaire Guo Guangchang, will acquire 96% stake in India’s Gland Pharma Ltd for $1.3-1.5 billion (Rs.8,700-10,000 crore), as reported by LiveMint. The Hyderabad-based Gland Pharma is backed by global private equity firm KKR & Co.

The deal will be announced in a day, said the first person close to the development.

Deloitte’s Tohmatsu Venture Support Invites Applications From Indian IoT Startups

Deloitte’s subsidiary, Tohmatsu Venture Support (Deloitte Japan) is inviting applications for the first time from Indian IoT startups for its accelerator programme in Japan. The selection process will commence in September, and 10 selected startups will visit Japan this October, as per Inc42 report. Accommodation and travel will be provided free of cost.

The applications will be evaluated by the IoT Acceleration Consortium(ITAC), and will be sent to the concerned authorities.

Spark10 Accelerator Announces Completion Of First Cohort

Spark10, India’s first European startup accelerator aimed at helping early-stage startups to turn their minimum viable product (MVP) into scalable investable business, has announced the graduation of its first batch of its accelerator program.

The accelerator had selected nine Indian startups for its 13-week acceleration program earlier this year. The startups were from the mobile, Internet, smart technologies, analytics and machine learning domains, as reported by Inc42.
The selected nine Indian startups include BeHungry, Brisky, Carzip, DaddysPocket, Feltso, Fliona, OhLook, Ornativa and Paysack.

Microsoft Accelerator Opens Startup Applications For Winter 2016 Cohort

Bangalore-based Microsoft Accelerator has opened applications for its Winter 2016 cohort. Technology and technology enabled startups in any vertical can apply to be part of the four-month accelerator program. Applications will also be considered for Microsoft’s Partner Accelerators under @cceler8.

Microsoft Accelerator has designed two programs viz – Scale Up and Hi-Po which aims to speed up the business potential for startups. The former is designed for later stage startups in growing traction, while the later focusses on series stage startups.

The final date for submitting applications is August 10, 2016. To apply, click here.

Modasta Bags $1.5M from Mauritius HNIs

Modasta, a multi-lingual health content portal and queries platform, has raised $1.5 million (about Rs 10 crore) from Mauritius-based high net worth individuals (HNIs), as per ET report.

The company said it intends to use the funds for business growth, technology upgradation, talent acquisition and marketing outreach activities.

Modasta covers a range of health-related content, curated by Indian doctors, across five regional languages--Hindi, Telugu, Tamil, Kannada and Malayalam--along with English. The startup caters to the audience through articles and videos.

Mezi Gets $9M from Nexus Venture, Saama Capital, Others

Artificial intelligence-powered personal shopping assistant start-up Mezi has raised $9 million in a Series A funding round from existing investor Nexus Venture Partners and new investors Saama Capital and American Express Ventures.

The investment will be used to support the company’s growth and accelerate Mezi’s product and artificial intelligence technology development around conversational commerce, natural language processing and machine learning, reported by LiveMint.

Mezi was founded in December 2015 by Swapnil Shinde and Snehal Shinde.

Kolkata Based Healthtech Startup Tiyo Gets Seed Funding

Kolkata-based healthtech startup Tiyo, which was launched in May 2015 by Ranna Dutta, Sandip Bodak and Sunil Mishra, has raised $120,000 of angel funding, after being bootstrapped for almost a year. The round was led by veteran entrepreneurs from Middle East- Anish K and Ajith Nair, CEO iAdepto Global, as per YourStory report.

The company has also closed its pre-Series A round, where it raised $750,000, and will soon be closing its Series A as well.

The raised funds will be utilised to strengthen the development team based out of Bengaluru and will help in opening new sales offices in the South and West.



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