A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
Pakit (2017, Guwahati), platform for crowdsourced delivery via travellers. Founders are alumni of IIT Guwahati. Local comparable is WEcarriers (2016, Pune). Global comparables are Grabr (2015, SF, $6M) and Airfrov (2014, Singapore, $500k).
INDIA INTERESTING NEWS
Five Star (1984, Chennai), non-banking finance company, raises $50M in Series C round of funding led by Norwest Venture Partners and Sequoia Capital with participation from Morgan Stanley and Matrix Partners. Link
WABCO (1869, Hillsdale), manufacturer of braking products for automotive industry, acquires AssetTrackr (2013, Bangalore), GPS based vehicle tracking and fleet management solution provider, for an undisclosed amount. Link
Essential Products (2017, Palo Alto), consumer electronics company, raises $300M in undisclosed round of funding led by Access Industries with participation from Redpoint Ventures, Tencent Holdings Ltd., Altimeter Capital, Vy Capital and Amazon Inc. Link
Socure (2012, NYC), identity fraud detection, raises $13.9M in Series B round of funding led by Commerce Ventures, with participation from Flint Capital, Work-Bench, Santander InnoVentures and Two Sigma Ventures. Link
Fenwick Brands, Birmingham-based consumer packaged goods investor, closes first consumer packaged goods fund, at $30M. Link