India Startup Funding Update, Jan 7
Jan 7, 2019
1. Social commerce platform Meesho has raised $50 million in a Series C funding round from Shunwei Capital, DST Partners, RPS Ventures, Sequoia India, SAIF Partners & Venture Highway, for a valuation between $200 million and $250 million.
2. Mumbai based newly licenced bank Fino Payments Bank has been slapped a fine of Rs 1 crore by RBI.
3. Dialysis and kidney care provider NephroPlus has acquired the Rs 50-crore Indian operations of the world’s second largest kidney care provider and US-listed Fortune500 firm DaVita for an undisclosed amount.
4. Engineering solutions provider QuEST Global will be looking at hiring upto 3000 people in India for its digital business over the next two years.
5. Freecharge co-founder Kunal Shah announced his new venture Cred— “a platform to celebrate and reward the most creditworthy people of India.”
6. Walmart invests $37 Mn In Indian Unit to expand its presence in the country.
7. Cross-border venture capital (VC) firm Transit Capital is in talks to raise its debut fund and is targeting a corpus of $50-60 million, reports DealStreetAsia.
8. US-based private equity firm Jaguar Growth Partners plans to launch an Asia-focused fund next year, targeting India, China and other markets.
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