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Samsung Ventures Invests $4.6M in Audioburst, Alibaba to Buy Ele.me, Synctag Gets Series A, Fitternity Bags Over $2M & More

Pune-based housing finance startup Altum Credo has received a commitment of Rs 64 crore from leading impact investor Aavishkaar Ventures and a group of HNIs

Photo Credit : ShutterStock,

Below is a list of deals (Funding+Acquisition) that happened in Indian Startup Ecosystem. Read a brief description about all of them:

1. Samsung Venture Investment, an affiliate of Samsung Electronics, has invested $4.6 million in an Israel-based audio search startup, Audioburst. As part of the deal, Samsung will be integrating Audioburst's solution to "millions of Samsung products" around the world, starting with Smart TVs, reported ET. Established in 2015, Audioburst is a revolutionary AI-powered audio search platform connecting audio content and users.

2. Chinese e-commerce giant Alibaba Group that currently own approximately 43% of Ele.me, would buy the remaining 57% stake of the Chinese food delivery app. The latest deal will value the startup at $9.5 billion. Post acquisition, Ele.me will continue to operate under its own brand, but will combine some functionalities with Koubei (Alibaba's local commerce platform).

3. Pune-based housing finance startup Altum Credo has received a commitment of Rs 64 crore from leading impact investor Aavishkaar Ventures and a group of HNIs including PS Pai, former executive chairman of Murugappa Group. The company will use the newly raised funds to expand its current loan book and expand operations to states across India. The funds are expected to be received by end of this month, reported ET.

4. Hyderabad-based IT and digital transformation solutions company, Kellton Tech Solutions has acquired US-headquartered PlanetPro, which also has offices in Canada, Singapore, India and a strong business presence across Asia. The company provides Salesforce.com, analytics, and custom programme services to enterprise clients. 

Financial details of the transaction are still undisclosed, reported ET. 

5. AI analytics startup Synctag has raised Series-A funding from private equity firm Subhkam Ventures. The raised funding will be used to enter the New Zealand, Australia, Ireland and the UK markets, reported ET. This is the fourth round of funding received by Synctag, which manages social, email, content and other media for clients. It raised two rounds of seed funding in 2015 and a third round of funding at a valuation of Rs 35 crore in 2016. 

6. Blackstone Group Lp has acquired Chennai-based auto parts maker Comstar Automotive Technologies Pvt. Ltd for about Rs 1,000 crore, reported DealStreetAsia. The deal has been signed a month ago, and the money has been transferred last week, a person aware about the development said.

7. Online fitness discovery platform Fitternity.com has raised over $2 million (Rs 13 crore) from existing (Saha Fund and Exfinity Venture Partners) and new investors, reported VCCircle. The company will be raising additional capital later this year to expand its footprint in new geographies.

8. Technology news portal FactorDaily has secured Rs 5.7 crore ($875,000) in a fresh round of funding from Freshworks promoter Girish Mathrubootham and existing Paytm founder Vijay Shekhar Sharma, filings with the Registrar of Companies show.

The company’s other existing investors including Blume Ventures and Accel Partners also participated in the round. Entrepreneur Jayaprakash Vijayan came on board as a new investor, the filings state.

Read More here .



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