Deals RoundUp: Delta Corp, Alpha Advantage Real Estate Fund, Creador, Corona Remedies, Urban Tailor, Unitus Seed Fund, Heal Institute, Tripshelf, GEMS Group, Cisco, Rentomojo, IDG & Accel Partners
Bangalore-based Edunetwork Pvt Ltd, which owns and operates home appliances and furniture rental marketplace RentoMojo, has raised about Rs 33.5 crore ($5 million) from existing investors including Accel Partners and IDG Ventures India
Delta Corp Founder Jaydev Mukund Mody Launches $74M Realty Fund
Jaydev Mukund Mody, a gambler-turned-entrepreneur and the founder of Delta Corp. Ltd, has entered the real estate investment business through his new Rs.500 crore private equity fund. Eagle Capital Advisors Pvt. Ltd has launched the fund, Alpha Advantage Real Estate Fund that will focus on domestic mid-sized projects. It has a tenure of six years that can be extended by a further two years, as per DealStreetAsia report.
Creador Plans to Invest $17.5M in Corona Remedies
Malaysian private equity firm Creador Capital is close to investing Rs 118 crore for a minority stake in Ahmedabad-based drug maker Corona Remedies. Creador, which has already invested in about eight other companies in India, would be investing in Corona through a Mauritius subsidiary.
According to people close to the development, Creador will be picking up about 20% stake in Corona, valuing the company at around Rs 500 crore, as ET reported.
Urban Tailor Raises Undisclosed Amount of Funding From Unitus Seed Fund
Bangalore-based Urban Tailor has raised an undisclosed amount of funding from Unitus Seed Fund. B. S. Nagesh, (founder of TRRAIN and former MD, Shoppers Stop) also participated in this round. He will be advising the company on strategy and growth.
Founded by Vasudevan T, Lavanya Venkatraman and Ashish Singhal in March 2015, Urban Tailor is a customised, professional tailoring service for women which comes at the click of a button.
The startup will use the newly raised funds for building tailor capacity to undertake more orders/day. Also, the funds will be used to innovate its service offerings, and for expansion to more cities.
Healthcare Startup Heal Institute Raises Undisclosed Funding from Jaspal Bindra & Parth Jindal
Mumbai-based HEAL Institute, a sports-focused healthcare startup, has raised an undisclosed amount of funding from a group of high-profile investors including former Standard Chartered ace banker Jaspal Bindra and son of JSW Group chairman Sajjan Jindal, Parth Jindal.
Parth has invested in the startup in his personal capacity. The firm will use the funds for its expansion across major metros. It also plans to raise $ 5-8 Mn in future.
Tripshelf Raises Pre-Series A Funding of $250K from Delhi Based GEMS Group
New Delhi-based Tripshelf, an online marketplace for leisure travellers to discover, compare & buy the most suitable holiday packages from multiple tour operators, has raised $250,000 from DElhi based GEMS Group. With a team size of 10, it aims to be the first point of contact for anyone planning a holiday.
GEMS is an early stage, sector agnostic fund, servicing companies that are customer centric and leverage technology as a scale multiplying factor for delivering high shareholder value. The raised funds will be used to establish traction with the customer and travel operator community, as per Inc42 report.
Cisco Plans to Set Up Manufacturing Plant in India
Cisco is working on a plan to establish a manufacturing facility in India and is in talks with the government for the same, as per ET report.
On expansion plans in India, Cisco CEO Chuck Robbins said, "... Prime Minister Narendra Modi is very committed to manufacturing. We worked through a business case and... presented to him that... That was fantastic and we have been moving forward."
He disclosed that India is moving forward on various healthcare and security initiatives, with a lot happening on the digital cities front. Cisco is engaged in over 15 smart cities projects in the country. The company is also working with Andhra Pradesh government for rolling out Bharat Net.
Rentomojo Raises More Funds in Series A Round from IDG and Accel Partners
Bangalore-based Edunetwork Pvt Ltd, which owns and operates home appliances and furniture rental marketplace RentoMojo, has raised about Rs 33.5 crore ($5 million) from existing investors including Accel Partners and IDG Ventures India, as per VCCircle report.
The funding is part of the Series A round. The new funding round comes after the startup last year raised $2 million in pre-Series A funding from Accel Partners and IDG Ventures.
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