Private equity (PE) firm Norwest Venture Partners has led the latest round of investment of Rs.200 crore into non-banking financial company (NBFC) Veritas Finance Pvt. Ltd. Veritas lends to micro, small and medium enterprises (MSMEs). It began operations in 2015 and currently has 132 branches and more than 21,000 customers. Veritas proposes to use the fresh capital to deepen its presence in existing markets by enhancing lending to MSMEs for business expansion, working capital and for asset creation.
Tata Consultancy Services Ltd (TCS) has acquired London-based design firm, W12 Studios, the first acquisition of India’s largest information technology (IT) services company in about four years. The deal underscores TCS’s growing confidence in its newest offering, the TCS Interactive digital design arm, to scale up revenue from this fast-growing business.
Viithiisys Technologies, a boutique IT consulting and Services Company, has acquired On-demand application development start-up Actiwate in an undisclosed amount. The acquisition was the result of Actiwate’s need to scale up their operations and Viithiisys need for an experienced product management team for their flagship product Vizitor.
Bengaluru-based startup GO DESi has raised Rs 1 crore in funding led by Lead Angels Network headquartered in Mumbai with participation from other angel Investors including serial entrepreneur R Ramaraj, whose last stint was at Sify as the Cofounder & CEO. The capital will help the company aggressively expand its sales and distribution into other metro cities as well as strengthen the back-end supply chain. GO DESi is a packaged confectionery brand inspired by local, regional formats and flavours entirely manufactured at micro units set up by women entrepreneurs, farmer cooperatives and SHG in rural and semi urban areas.
Truebil, an online marketplace to buy and sell second-hand cars, has raised $1.35 million in a fresh round of funding from venture debt provider Trifecta Capital. The startup had raised $3 million in two tranches earlier last month, which included $2 million in funding led by existing investor Inventus Capital Partners and separately $1 million from its existing investor Kalaari Capital. Truebil raised $3 million in a follow-on Series A round from Shunwei in February last year.
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