One of the wholly owned subsidiaries of Sun Pharmaceutical Industries (Sun Pharma) has agreed to acquire by way of allotment to it, 2.03 lakh Series A Preferred Stock (equivalent to 15.91% fully diluted equity stake on conversion) of Krystal Biotech Inc., United States of America, a biopharmaceutical company using gene therapy to develop treatments for patients suffering from rare debilitating disorders.
PVR Ltd, India’s biggest movie exhibitor, and Major Cineplex Group have agreed to sell their bowling joint venture bluO entertainment to Smaaash Entertainment Pvt. Ltd for Rs.86 crores in an all-cash deal. PVR owns 51% in the BluO joint venture, while Thailand’s Major Cineplex Group owns the rest. The sale is part of PVR’s strategy to sell non-core assets and focus on its main cinema exhibition business.
EM3 Agri Services, which offers farm services and machinery on rent, has raised $10 million from London-based non-profit Global Innovation Fund. The series B investment will power its expansion in Rajasthan. EM3 Agri operates under the brand name Samadhan in Madhya Pradesh and parts of Gujarat. The company offers farm equipment such as ground-levelling machines, deep-ploughing equipment and power harrows for making seed beds to farmers on rent.
The co-founder of ecommerce venture Yebhi.com Manmohan Agarwal has finally unveiled his new venture, logistics app Truxapp. Delhi-based Truxapp is a mobile app-based logistic service, which connects truck owners to Businesses. Truxapp claims to provide a wide range of logistic services at market spot prices.
Crofarm, an agritech startup connecting farmers and retail raised Rs.5 crores in a pre-Series A from angel investors Rajan Anandan, Google India MD, and Jitendra Gupta, PayU India MD, and US-based Factor[e] ventures, among others, through the LetsVenture platform. It primarily operates in Delhi-NCR, where it serves more than 100 small and medium retailers through its multiple distribution centres and is connected to farmers across UP, Haryana and Delhi.