Folk music icon Raghu Dixit, who is famous for fusing local rhythms and international tunes to compose new melodies for young Indians, is now an investor in craft beer brand Geist, which recently rolled out from its new brewery in the outskirts of Bengaluru. Dixit will join the American craft brewing pioneer Steve Wagnor in backing Beerworks Restaurants and Microbrewery, the parent of Geist.
Last Month's Deals
Rane Holdings has decided to take a 70 per cent stake in Benguluru-based Telematics4U Services Pvt Ltd. The acquisition of T4U will enable it to enhance its capability in connectivity which is a “mega trend influencing transportation sector. Rane will pay Rs.1.17 cr. for the 70 per cent equity stake by subscribing to a fresh issue of shares and purchase from existing shareholder. T4U will benefit from the growing demand for improved fleet efficiency, vehicle diagnostics and IoT-based solutions.
Health technology startup Mfine has raised $1.5 million in its first round of funding led by Stellaris Venture Partners. Mfine has built an online consultation app which will have a network of reputed hospitals and the app is expected to go live in September.
Kings Learning, a spoken English learning start-up, has raised $2.5 million in funding from Michael & Susan Dell Foundation and other United States (US)-based tech investors. Enguru, Kings Learning’s spoken English app, allows users to self-learn general spoken English and employability-focused conversational English. It also allows users to learn English in their native language and supports 28 different languages.
Sequoia Capital-backed online pharmacy 1mg has acquired Varanasi-based startup Dawailelo for an undisclosed amount. In a rapidly consolidating sector, 1mg, which recently raised about Rs.96.7 cr. ($15 million) in Series C funds, has acquired multiple small players to aid its expansion plan.