Mahindra group has said it will invest 2,00,000 euro (about Rs.1.51 cr.) in a Finnish startup, Medixine, as it taps into the startup eco-system of the Nordic country for future innovation programme. Medixine has a suite of cloud software programmes that provide e-services to their patients and help them become active players in their own care instead of being passive targets.
Last Month's Deals
IT firm Wipro Ltd has invested $2.05 million in Imanis Data (formerly Talena). Wipro has made a strategic investment of $2.05 million in this tranche, taking total investment to $4.05 million. The transaction has been done through cash and note conversation. Wipro has acquired minority stake of less than 20% on a fully diluted basis. Imanis was founded in 2013 and is headquartered in Delaware, US.
Chennai-based optical retail chain Specsmakers Opticians has raised $10 million (about Rs.64 cr.) in funding led by Eight Roads Ventures India. Fulcrum Venture has made a partial exit with this deal. The funds will be used for expanding operations in other cities and developing the optical chain into a national brand.
Real estate developer Concorde Group has sold its Cuppa chain of cafes to Bengaluru-based entrepreneurs Vijay Sreedhar and Visakh Viswambharan for an undisclosed amount. Their first task will be to completely reinvent the look and feel of the cafes. They also plan to take the chain national and are looking at opening outlets in Delhi, Mumbai, Hyderabad, Chennai, Coimbatore and Kochi over the next two years.
Stainless steel kitchen sink maker Acrysil Ltd has acquired additional 3.75 per cent stake in the UK-based company Homestyle Products. The acquisition has been done through the company’s wholly-owned subsidiary and the total equity stake in kitchen sink distribution firm Homestyle Products is now increased to 98.75 per cent.