India Startup Funding Update, Dec 5
Dec 5, 2018
1. Online logistics solution provider Blackbuck has raised Rs 202 crore in a fresh round from new investor Sequoia Capital with participation from existing investors such as Accel Partners and Sand Capitals.
2. Swedish furniture and home accessories company IKEA plans to invest nearly Rs 3,000 crore (USD 417 million) in the next three years to open three fulfilment centres (packing warehouses) in Mumbai, Bengaluru and Delhi.
3. Food delivery startup FreshMenu is reportedly in early talks with private equity funds to raise nearly $75 mn as part of its Series C fundraise.
4. OYO has inked a Memorandum of Understanding (MoU) with the Government of Uttarakhand, and has committed an investment worth Rs 500 Cr (US$69.4mn) to expand its chain in the region.
5. Flipkart is foraying into insurance segment, partnered with Bajaj Allianz General Insurance to offer customised insurance solutions to power its mobile phone protection programme for all leading mobile phone brands that are sold on its platform.
6. Tech major Qualcomm has announced plans to invest $400M to set up its largest campus outside the US in Hyderabad.
7. Bengaluru-based enterprise networking startup Lavelle Networks Pvt. Ltd, has raised around Rs 2 crore ($270,000) from infotech consulting and software services company ASM Technologies Ltd, reported VCCircle.
8. Greenko Group is back in the running to buy Orange Renewable from Singapore’s AT Capital Group for about $925 million, reported DealStreetAsia.
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