Noida-based Forex solutions provider MyForexEye has secured $220K (Rs.1.4 cr.) Pre-Series A funding from a consortium of high-net-worth individuals and senior bankers. The startup is looking to use the newly-raised funding to expand operations across India and overseas in the next five years. A portion of the investment will also go into technology development and marketing, aimed at enhancing transparency of transactions and quality of user experience.
India’s Bajaj Auto Ltd and the UK’s Triumph Motorcycles Ltd announced a global partnership to make deeper inroads into the so-called middleweight (engine capacities of between 250cc and 600cc) motorcycle market in India, and the world. Under the terms of the partnership, the two companies will develop and distribute these motorcycles, Bajaj will manufacture them. The alliance will help the firms leverage each other’s’ strength—Bajaj Auto’s manufacturing and engineering capabilities and Triumph’s positioning as premium luxury brand with global reach.
India’s tech ecosystem is growing rapidly, marked by increased deal flow and rising exit activity. While most exits were through the merger and acquisition route, in 2017, the number of exits through public listings or IPOs has shot up, according to a recent report by US-based research firm CB Insights. According to the report, the number of first exits of Indian tech companies has more than tripled from 52 in 2012 to 184 last year. Between 2015 and 2016, exit activity has remained the same, but the number of IPOs rose 1 to 4. In 2017 till date, there have been 101 exits with 10 IPOs, of which six offerings hit the market in the last two months. Among the six industries that saw the most exits since 2012, advertising, sales and marketing industry brought in the highest number, with 37 exits in that time period. The IT solutions & software development industry came in second at 23 exits.
Global private equity fund General Atlantic has purchased a significant stake in India’s largest share registry company Karvy Computershare. The company did not disclose the financial details of the transaction. General Atlantic has purchased the stake held by Australian partner Computershare and other shareholders.
Platform and a nurturing ecosystem for ambitious and aspirational women, SHEROES acquired a Bangalore-based online career restart platform, Women Restart, for an undisclosed amount. SHEROES aims to strengthen its presence in Bangalore. Women Restart is a platform that acts as a support system for women by helping them in developing an understanding of their own job readiness and familiarizing them with the latest trends and technologies used in the workplace.