A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
MPokket (2016, Kolkata), online platform for unsecured P2P personal loans. Founders are ex – Bain and Company, Fidelity International, Axis Bank, Yes Bank, British Council, ConnectingDot and alumni of Columbia Business School, Amherst College, Franklin and Marshall College, and Calcutta University. Local comparables includes Faircent (2013, Gurgaon, $8.25M) and i2i Funding (2014, Noida, $300k). Global comparables include Prosper (2005, SF, $353M) and Harmoney (2013, Auckland, $210M).
INDIA INTERESTING NEWS
Marico (1987, Mumbai), FMCG major with focus on beauty and wellness products, acquires 45% stake in Beardo (2015, Ahmedabad), private label manufacturer and retailer of men’s grooming products, for an undisclosed amount. Link
The Hive (2016, Bangalore), managed co-working space provider, partners with LetsVenture (2013, Bangalore), online platform for startups to raise seed/angel funding, to set up and manage incubator spaces for startups. Link
Yes Fintech, Mumbai-based fintech focused business accelerator program, picks 12 startups for its inaugural cohort. Link
Light Polymers (2012, SF), developer of polymers that enhance the light efficiency using lyotropic liquid crystals, raises $24.3M in series A round of funding led by a consortium of private investors. Link
FocalSpec (2009, Oulu), Line Confocal Imaging (LCI) technology based quality inspection solutions provider, raises $3.75M in funding from VTT Ventures, Nordic Option, Veritas Pension Insurance and others. Link
WalMart (1962, Bentonville), multinational retail corporation, acquires ModCloth (2002, SF), e-tailer of vintage, vintage-inspired and indie clothing, accessories and decor, for an undisclosed amount. Link