SoftBank to Invest $1B In Fanatics, Pine Labs to Expand in SEA, Crofarm Raises Rs 5 Cr & Others
To expand its logistics footprint in the country, Amazon India's logistics arm is set to get another Rs 400 crore infusion from the parent company.
Photo Credit : constructive.net.au,
Here is a list of deals that happened in Indian Startup Ecosystem today. Read a brief description about all of them:
1. SoftBank Group is investing $1 billion in Florida-based sports e-commerce company, Fanatics at a valuation of $4.5 billion, according to sources familiar with the matter.
The new funding is expected to close later this month, one of the people said. Fanatics is a leading sports merchandise licensor that handles e-commerce sales for teams and sports leagues around the world. It counts the National Football League and Major League Baseball as investors, along with several venture capital firms and technology companies.
2. Pine Labs, which runs the backend software and solutions for Point of Sale terminals (PoS) across the country, is expanding its operations in South East Asian market. The company, which has over 70,000 merchants and 1,60,000 PoS machines in India, is planning to start operations in Malaysia by November this year. Pine currently handles 8,000 crore of volume with 40 million transactions a month.
3. To expand its logistics footprint in the country, Amazon India's logistics arm is set to get another Rs 400 crore infusion from the parent company, according to RoC filings made by the company. In June, Amazon Transportation Services received an infusion of Rs 207 crore from Amazon Corporate Holdings Singapore and Amazon Malaysia, while it received Rs 67 crore from the parent company in September 2016.
4. To reach more users in India, Google is preparing to launch its personalised content service, Google Feed, as well as its smart speaker and assistant Google Home in the country.
The company will bring its Google feed service to India shortly, reported ET.
5. Gurgaon-based agritech startup Crofarm has raised Rs 5 crore in pre-Series A round from angel investors - Rajan Anandan, Google India MD, Jitendra Gupta, PayU India MD and US-based venture development firm Factor[e] Ventures among others.
The 2016 founded startup, had earlier raised $1.5 million in the seed round in July last year.
Crofarm’s latest pre-Series A investment was made via online deal-making platform LetsVenture.
