Here is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:
1. Online interior design company, Design Cafe has raised a multi-million-dollar round of funding led by Fireside Ventures founded by Kanwaljit Singh, former managing director of Helion ventures. Other investors who participated in the round include Apurva Salarpuria, founder of Salarpuria Group of Companies, angel investor Sidharth Pansari and Sprout Capital, a micro venture capital fund by Bengaluru-based boutique investment banking firm. In the last 18 months, this is company’s second funding round.
The Bengaluru-based startup, cofounded by architects and designers Gita Ramanan and Shezaan Bhojani, offers an online customised design and decor solution to consumers. It plans to use the raised funds to expand to other cities, including Mumbai and Delhi.
2. Hyderabad-based automotive technology startup Smart Auto Systems has raised Rs 20 crore in Series-A round from Mitsui & Co, which is part of Japanese conglomerate Mitsui Group, according to documents filed with the Registrar of Companies (ROC).
The startup has been bootstrapped since its inception in 2015. This is the first infusion of external capital in the company that will be used to further build out its technology platform, and expand its geographical presence, a source close to the deal told ET.
3. Gati, one of India's largest express distribution and supply-chain companies, mid-market private equity firm Peepul Capital and supply-chain player TVS Logistics are in the fray to acquire Vulcan Express, the logistics arm of beleaguered online marketplace Snapdeal.
According to a report published by ET, a potential transaction could take place over the next 60 days. Snapdeal is expecting an amount of Rs 90-120 crore for this acquisition deal, according to two sources familiar with the matter.
Flipkart, the country's largest e-commerce company, and global private equity major Warburg Pincus who is an investor in Gurgaon-based logistics company, Ecom Express, have also expressed interest to acquire Vulcan Express.
This also comes after Axis Bank, India's third-largest private sector bank, has emerged as one of the frontrunners to acquire FreeCharge the digital payments platform owned by Snapdeal, after Paytm and Mobikwik.
4. After closing its $20 million Series C round of funding last week, Droom, an online marketplace for used automobiles, is planning 2-3 acquisitions this year and will probably spend about $8-10 million. Droom will also expand into Indonesia this year. The company earlier planned foray into Southeast Asia, however the plan had been ‘delayed’ as the company had stayed focused on its operations in India.
“We stayed focused on India because if we capture India, then we can capture many other countries. After Diwali (this year), we will expand internationally and Indonesia will be the first country. After that, we will be expanding to Malaysia, the Philippines, Thailand and Singapore,” founder Sandeep Aggarwal said in an interaction with DealStreetAsia.