Japanese company Topy Industries Ltd (Topy) has agreed to buy a 26 per cent stake in WIL Car Wheels Ltd (WCWL), a wholly owned subsidiary of wheels manufacturer Wheels India Ltd (WIL) for an undisclosed amount. WIL, part of the TVS Group, set up WCWL to carry out the passenger car steel wheel business in the country. The Japanese-headquartered firm is a leading manufacturer of steel wheels for cars, trucks, construction and mining equipment among other products.
Alternative accommodations company Airbnb is buying Trooly, a California-based background-check startup founded by three Indian-origin entrepreneurs as it seeks to protect its users and hosts from undesirable and fraudulent people. Trooly uses public and permissible digital footprints to understand and predict the trustworthiness of individuals and businesses. It uses minimal and non-intrusive identity information as input and returns “trust” ratings which incorporate screening for undesirable past behaviours.
Gurgaon-based micro finance institution (MFI) SV Creditline Ltd (SVCL) has raised Rs.20 crores ($3.1 million) in debt from Capital First. The capital will help the company meet its goal of reaching 1 million customers by the end of this year. SVCL claims to help its users in their income generation activities through financial intermediation.
Healthtech startup Healthintel Services has raised an undisclosed amount of growth capital from BLIP Initiatives. Delhi-based Healthintel runs an ecommerce platform for medicines, Dawaiweb. The company also specialises in digitising independent doctor practices with electronic medical record capability, patient connect appointment system, lab records automation and digitising prescriptions. Healthintel has its own pharmacies and does not work as an aggregator in any region. The funds will be primarily used for expansion in 8-10 cities over the next 12 months.
Personal finance technology startup Fincash has raised $100,000 from a clutch of angel investors to be used for strengthening of its technology platform and enhancing its reach. Fincash focuses on the money market space in India for retail investors and seeks to get customers onboard with its solutions for potential investors. It tries to offer solutions to customers for channelising funds into long-term savings, tax- planning and even idle money lying around.