A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.

INTERESTING STARTUPS

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

Myntra (2007, bangalore), online retail store for fashion and lifestyle products, plans to invest in 10 fashion brand through its accelerator programme. Link

Yes Fintech, Mumbai-based fintech focused business accelerator program, picks 12 startups for its inaugural cohort. Link

GLOBAL ROUNDUP

Tesla (2003, Palo Alto), electric car developer, raises $1.2B via share and convertible debt sale. Link

Simplesurance (2012, Berlin), provider of plugin for ecommerce companies to cross-sell insurance product, raises $31.8M in funding from Rakuten, Rheingau Founders, Route 66 and Allianz SE. 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

MultiX (2010, Moirans), x-ray imaging solution provider for airport security, raises $3.76M from Omnes Capital and H3C. 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

BinckBank (2000, Amsterdam), independent online bank for investors, acquires Pritle (2015, Amsterdam), goal based robo-advisor, for $13.4M. 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

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