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Ecom Express Raises Rs 192 Cr, CallHealth Services Bags $6.2M Led by Sachin Tendulkar & More

Hyderabad-based healthcare services aggregator, CallHealth Services Pvt. Ltd, has raised Rs 40 crore ($6.2 million) led by former Indian cricketer Sachin Tendulkar.

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Here is a list of deals that happened in Indian Startup Ecosystem today including funding, merger, acquisition, product launch & appointment etc.

1. E-commerce logistics company Ecom Express has raised Rs 192 crore from existing investor Warburg Pincus who had previously invested Rs 850 crore in the company in 2015. The investment was made through the private equity firm's unit Eaglebay Investment, according to documents with the registrar of companies as per Tofler. Warburg Pincus has been an active investor in the logistics space in India in recent years. It invested $75 million (Rs 500 crore) in Gurgaon-based logistics services provider Rivigo last year for a minority stake. The PE firm is also an investor in third-party logistics company Stellar Value Chain.

2. National Association of Software and Services Companies (Nasscom) is planning to set up a centre for excellence in Ahmedabad, aimed at nurturing technology and IT-based startup ecosystem in Gujarat. This will be Nasscom's second centre in India, while the first one was established in Bengaluru. Commenting about the development, Jaimin Shah, chairman - Domestic Council, Nasscom, said, "We are in talks with the government and things are at the final stage. We expect an affirmation by the end of this month. Through this facility, we will be mentoring and nurturing some 100 IT-based startups in the first phase in next one year."

3. NetApp Excellerator Programme, NetApp’s first startup accelerator program, which was launched in Bengaluru in July 2017, has selected 6 startups for its first cohort. The selected startups include Adya, Lightmetrics, Enclouden, Scalend Technologies, Vaultedge and Vitacloud Digital Health. The four-month programme will provide selected startups with an equity-free grant of $15,000 after the completion of the programme and they will also receive technology and business mentorship as well as access to markets and investors to realize the full potential of their ideas and products in the global marketplace. Going forward, the company wants to have two cohorts, each year. 

4. Indian microlender Janalakshmi Financial Services, which is setting up a so-called small finance bank, has raised Rs 1,030 crore ($161.3 million) led by TPG. The current investors Morgan Stanley Asia-managed PE fund Treeline, QRG Enterprises and Vallabh Bhansali also participated in the latest funding.

5. Hyderabad-based healthcare services aggregator, CallHealth Services Pvt. Ltd, has raised Rs 40 crore ($6.2 million) led by former Indian cricketer Sachin Tendulkar.

As per the company’s filings with the Ministry of Corporate Affairs dated June, Sachin Tendulkar invested Rs 12 crore while India’s top female badminton player PV Sindhu, and former badminton player Pullela Gopichand put in Rs 4 crore each. Gopichand is an existing investor in the company.

6. Smaaash Entertainment, the sports-based entertainment company co-owned by Shripal Morakhia and former cricketer Sachin Tendulkar, has made its second acquisition in a month by buying 100% stake in SVM Bowling & Gaming, operated by SVM (Sri Venkateshwara Multiplexes), reported ET. The deal amount is still undisclosed. Last month, Smaaash acquired PVRowned bluO Entertainment for Rs 86 crore. 

7. Venture capital fund Norwest Venture Partners (NVP) is in advanced talks to buy nearly 34% stake in Jaipur-based non-banking financial company (NBFC) Ess Kay Fincorp Pvt. Ltd for about Rs200 crore, reported DealStreetAsia. Founded in 1994, Ess Kay Fincorp provides vehicle and agriculture equipment finance as well as small and medium enterprises (SME) loans.

8. Infosys, a global leader in consulting, technology and next-generation services, today announced that it has completed the acquisition of Brilliant Basics, a London-based product design and customer experience (CX) innovator known for its world-class design thinking-led approach and experience in executing global programs. Through this acquisition, Infosys further expands its worldwide connected network of Digital Studios that are focused on fulfilling the needs of global clients for end-to-end Digital Transformation solutions required to meet customer demand for next-generation enhanced customer experiences. The addition of Brilliant Basics extends Infosys’ digital design services network to include Europe and the Middle East, and enhances the company’s expertise across financial services, retail and telco sectors.  

To read more startup updates, click here.



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