A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
INTERESTING STARTUPS
PocketBits (2016, Nashik), Indian cryptocurrency exchange. Founder is ex-founder SlashCorp system. Local comparables are ZebPay (2014, Ahmedabad, $1.15M) and Unocoin (2013, Bangalore,$1.75M). Global comparables are Coinbase (2012, SF, $217M) and Coinsquare (2015, Toronto, $8.27M).
INDIA INTERESTING NEWS
UpGrad (2015, Mumbai), online higher education programs for working professionals, to raise $40M in funding from undisclosed investor. Link
Wotu (2015, Bangalore), B2B marketplace for F&B commodities, raises an undisclosed amount in Seed round of funding from Claris Capital and Mumbai Angels Network. Link
EbixCash (2006, Mumbai), remittance services provider, acquires Remittance Business Of Transcorp International (1994, Delhi), remittance and other financial services provider, for $7.4M. Link
Paytm Payments Bank (2016, Noida), RBI licensed Payments Bank offering savings and current accounts partners with IndusInd Bank (1994, Mumbai), personal & corporate banking services, for fixed deposit facility. Link
Catamaran Ventures, a venture capital firm and Amazon (1994, Seattle), international e-commerce website, partners with Prione (2014, Bangalore), E-commerce business consulting services for SMBs, to train people in SMBs. Link
PayUmoney (2011, Gurgaon), payment gateway solutions to merchants and SMBs, plans to close its wallet service. Link
Zoomcar (2013, Bangalore), online self-drive car rental service provider, promotes finance controller Tarun Jain to CFO. Link
GLOBAL ROUNDUP
BioNTech (2008, Mainz), developer and manufacturer of individualized immunotherapies for cancer and other diseases, raises $270M in Series A round of funding led by the Redmile Group and joined by Janus Henderson Investors, Invus, Fidelity Management & Research Company and several European family offices. Link
Gossamer Bio (2017, San Diego), developer of therapeutic products, raises $100M in Series A round of funding led by Arch Venture Partners and Omega Funds. Link
Wealthfront (2008, Palo Alto), automated investment management service provider, raises $75M in Series E round of funding led by Tiger Global Management with participation from Benchmark Capital, DAG Ventures, Greylock Partners, Index Ventures, Ribbit Capital, Social Capital and Spark Capital Growth. Link
Leading Pharma (2014, Fairfield), generic pharmaceutical company, raises $40M in growth capital financing led by Signet Healthcare Partners in addition to Crestline Investors with other investors comprised of Cane Investment Partners and existing members. Link
Quartet (2014, NYC), population health management platform for integrated behavioral and medical health, raises $40m in Series C round of funding led by F-Prime Capital Partners and Polaris Partners with participation from Oak HC/FT, GV and Deerfield Management. Link
Barracuda (2002, Campbell), network firewall solution for enterprise web & email, acquires PhishLine (1996, Milwaukee), cloud based phishing vulnerability assessment & security awareness training, for undisclosed amount. Link
Priority Software (1986, Tel Aviv), business management and ERP software, acquires Acclivity (2005, Rockaway), small business software and services, for undisclosed amount. Link