Homegrown messaging and social media technology company Hike Messenger has acquired Bengaluru-based tech startup Creo for an undisclosed amount. In the past, Creo has launched hardware products that includes streaming media dongles and smartphones. The Creo team will begin work on a developer platform to enable third party developers to build services on the Hike platform.
Last Week's Deals
Delhi-based microfinance firm Satin Creditcare Network is raising around Rs.35 cr. ($5.5 million) from non-banking financial company Capital First Ltd. According to a stock market disclosure, it will allot 1.23 million optionally convertible redeemable preference shares at Rs.284.53 apiece to Capital First.
DeTect Technologies, an IoT tech startup from IIT Madras, has raised funding from IIM Ahmedabad’s CIIE, Axilor Ventures and angel network Keiretsu Forum. Around 15 investors on the Keiretsu network invested in the company. The company will use the funding on R&D and expansion to cater to international clients.
RBL Bank (formerly Ratnakar Bank) has received a capital infusion of Rs.1,680 cr. ($262 million) by selling over 32 million shares at Rs.515 apiece on a preferential basis to marquee investors led by CDC Group. In September last year, RBL Bank Ltd had raised Rs.330 cr. (close to $50 million) from CDC.
TVS Motor Company has acquired a 24 per cent stake in RentOnGo, a Bengaluru-based start-up operated by Condivision Solutions and an online marketplace for renting bikes. The two-wheeler and three-wheeler maker invested Rs.1.5 cr. in Condivision Solutions.