Nykaa Raises $12.3M at $116M Valuation; Fork Media Buys Inuxu Digital For $3M; SeedWorks Raises $40M & Freshboxx Bags Angel Round
Hubli-based an online retailer of fresh fruits and vegetables etailer, Freshboxx has raised an undisclosed amount of funding from angel investor, Ravi Linganuri.
Online Luxury Beauty Retailer Nykaa Raises $12.3M
Nykaa.com, an online luxury beauty retailer, has raised Rs 82 crore ($12.3M) in a fresh round of funding led by Hero Group’s Sunil Munjal and the Mariwala family, at a valuation of about Rs 775 crore ($116M), reported ET. This fourth round of fundraising also saw participation of existing investors andMarico founder Harsh Mariwala. The company plans to use the newly raised funding to significantly expand its operations and add more brands under its label, sources said. Nykaa is also planning to open more retail stores besides its core online market strategy. Currently, the company has four physical stores across the country and has added more brands to its portfolio.
In October 2015, Nykaa has secured Series C round of funding from investors including TVS Capital, Marico founder Harsh Mariwala, Hexaware founder Atul Nishar, and Dalip Pathak, former India and Europe head of Warburg Pincus, and Michael Carlos, former president of Swiss fragrance maker Givaudan.
Founded in 2013 by FSN E-Commerce Ventures, Nykaa is headed by Falguni Nayar, a former managing director of Kotak Mahindra Capital Investment Banking, and her husband Sanjay Nayar, CEO and India head of US buyout giant KKR & Co. The company reported a net revenue of Rs 250 crore in FY16. Nykaa sells 400 brands and 35,000 products across various categories, its website showed. In March 2016, Nykaa introduced private labeled products and is also expanding its product offerings.
Ant Farm India Backed Fork Media Buys Majority Stake in Inuxu Digital Media Technologies
Fork Media (Fork), one of the fastest growing ad tech companies in India, has announced a majority stake acquisition of Inuxu Digital Media Technologies Pvt. Ltd. (Inuxu), a digital ad technology platform. Inuxu owns ‘adgebra’, a multi-device ad tech platform, delivering relevant high impact ad units with in-built audience segments, data management platform, and fraud protection with a promise of higher brand visibility, engagement, recall and yield.
The Start Up of the Year (Ad Tech) - 2015, Inuxu has showcased tremendous growth and success in the ad tech world. Since their inception only three years ago the company now has over 150 clients including American Express, Wai Wai Noodles, Horlics, Gillette, Lava Mobile, SOTC, Cadbury, along with many premium publications. Their proprietary audience data & inventory marketplace platform “Adgebra”, uses highly advanced mathematical algorithms to generate custom audience segments and deliver precise campaigns paired with engaging elements. These creative innovations provide digital ad campaigns with unmatched brand engagement and recall value. Inuxus’ capabilities also include offering a service layer on top of the product, which caters to an entire spectrum of publishers, advertisers, campaign managers & media planners under a single platform.
With this investment Fork will be the largest in-image advertising platform in the APAC region purely in terms of inventory volume. Inuxu also brings other products which synergize with Fork’s existing offerings. The consolidation will allow Fork to steer their media business and offer strong data led solutions across an audience of more than 50 million monthly unique visitors.
Additionally, this will leverage existing offerings as distribution channels for brands to engage with their target segment. In keeping with Fork’s philosophy the existing management team of Inuxu will continue operating their business with Fork stepping in to provide growth capital, technology, infrastructure and sales support.
Seed Firm SeedWorks Raises $40M from India Value Fund Advisors
Hyderabad-based seed firm SeedWorks International Pvt. Ltd. has raised $40 million funding from private equity company India Value Fund Advisors (IVFA). “We have been evaluating the food and agri-business space for a while now. We have just acquired a majority stake in SeedWorks, which is in the seeds business with a focus on rice and cotton,” said Srikrishna Dwaram, partner, IVFA.
IVFA which raised its fifth fund— Indium V—with a corpus of $700 million in July 2015, has invested in firms like deGustibus Hospitality Pvt. Ltd, which owns and operates restaurant brands Indigo and Indigo Deli, non-banking financial company Magma Fincorp Ltd and a re-investment in portfolio firm Atria Convergence.
SeedWorks International Pvt Ltd, is involved in breeding, production and marketing of hybrid seed of Rice, Cotton, Pearl Millet and Corn.
Fruit and Vegetable Etailer Freshboxx Bags Angel Funding
Hubli-based an online retailer of fresh fruits and vegetables etailer, Freshboxx has raised an undisclosed amount of funding from angel investor, Ravi Linganuri. The startup plans to use the funds for strengthening its team, upgrading its technology, improving its infrastructure and expanding further in the state of Karnataka. Launched in December 2015 by Rohan Kulkarni, the company claims to have a network of over 1,000 farmers and is receiving over 500 orders a week.
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