Magicpin Raising Series B Funding, Turant Delivery Shuts Shop, The Print Bags Funding & More

Delhi-based hyperlocal logistics startup Turant Delivery has ceased operations less than two years after its launch.

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Here is a list of deals that happened in Indian Startup Ecosystem today including funding, merger, acquisition, fund launch etc. Read a brief description about all of them:

1. Tokyo-based venture capital firm, GREE Ventures has announced the final close of its new fund AT-II Investment Limited Partnership Fund
that was launched in April 2016. The fund has a committed capital of $67 million, as per an official statement.

Main investors in the AT-II fund include the Organization for Small & Medium Enterprises and Regional Innovation, JAPAN; GREE Inc.; and members of the Mizuho Financial Group including Mizuho Bank, Mizuho Securities Principal Investment, and Mizuho Capital. The fund has already invested in 10 Asian startups.

2. Delivery Hero, which owns online food delivery platform foodpanda, will invest a part of the $431.45 million (around Rs 3,000 crore) it raised from South African internet investor Naspers, in its India operations.

In December, foodpanda was merged by its investor Rocket Internet with Delivery Hero, a German online food delivery platform after the Indian operations reported losses.

The money raised from Naspers will help foodpanda beef up on its technology and delivery, reported Business Standard. foodpanda, which aggregates restaurants in over 150 cities, delivers around 70,000 orders a day, with thrice the number of orders on weekends.

3. Delhi-based Printline Media Pvt Ltd, has raised an undisclosed amount of angel funding from a clutch of investors, according to media reports.

The investors include former Tata Sons Ltd’s chairman Ratan Tata, Infosys co-founder Nandan Nilekani, managing director of Kotak Mahindra Bank Uday Kotak, and founder of wallet firm Paytm Vijay Shekhar Sharma. Others who participated in the round are biotechnology company Biocon’s managing director Kiran Mazumdar-Shaw and co-founder and chairman of Bangalore-based IT firm Sasken Technologies Rajiv C Mody.

The company will use the funds to launch its new website, The Print. The investors will reportedly hold close to 20% stake in the firm.

4. Delhi-based hyperlocal logistics startup Turant Delivery has ceased operations less than two years after its launch
, reported VCCircle.

Run by Always Turant Delivery Pvt. Ltd, the startup was in talks with multiple venture capital funds to raise about $2 million in a pre-Series A round, but couldn’t close the deal.

5. Hyperlocal discovery platform Magicpin is raising nearly $6.6 million (around Rs 42 crore) in a Series B round of investment from existing investor Lightspeed Venture Partners and investment firm Vy Capital, reported VCCircle.

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