A daily newsletter summarizing interesting Indian startups and recent activity both in India & globally.
Mirai Tech (2016, Pune), Developer of drones and fuel cells. Founder is ex-KND Aviation and MKU. Local comparables are ideaForge (2007, Mumbai, $13M) and Asteria Aerospace (2010, Gurgaon, $4M). Global comparables are CyPhy Works (2008, Danvers, $32M) and SkySapience (2010, Yokneam Illit).
INDIA INTERESTING NEWS
PinkBlue (2014, Bangalore), online retailer of dental supplies for healthcare institutions, raises over $776k in pre-Series A round of funding from Orios Venture Partners, with participation from Anupam Mittal, Sakate Khaitan and HNIs. Link
LIC (1956, Mumbai), state-owned life insurance company, acquires additional 2% stake in Indiabulls Housing Finance (2005, Gurgaon), provider of personal loan for purchasing home,car, for an undisclosed amount. Link
Omnivore Partners, Bengaluru based venture capital firm, raises $46M in funding from Sidbi, RBL Bank, Sorenson Impact Foundation, The Rockefeller Foundation, Dutch Good Growth Fund, Ceniarth, and KfW. Link