Venture Catalysts has invested in bike-sharing app Mobycy in an angel funding round. Mobycy allows users locate bikes around them on the app, unlock it by scanning the QR Code, ride and then park it at the destination to end the ride, managed by IOT and GPS-enabled smart devices.
Last Month's Deals
Captain Zack, a pet grooming startup owned by EM Personal Care has secured $1.5 million in Pre-Series A round. The Mumbai-based startup plans to use the newly funds in marketing and brand awareness. The funding is led by industrialists Kushal Desai and Chaitanya Desai through their family office.
TPG Growth, the middle market and growth investment fund of TPG Group has invested $42 million in Ess Kay Fincorp, a Jaipur-based NBFC. Existing investors Norwest Venture Partners and Evolvence India Fund II Ltd are investing alongside TPG Growth. Ess Kay essentially targets rural and semi-urban customers to help them buy used vehicles including commercial vehicle, car, agricultural equipment, two and three-wheeler and MSME loans for small businesses.
The National Investment and Infrastructure Fund (NIIF) of India has acquired IDFC Infrastructure Finance Ltd (IDFC-IFL), a non-banking financial company that has been registered with the Reserve Bank of India (RBI) as an infrastructure debt fund. IDFC-IFL lends to operating infrastructure projects, allowing the original project financiers to recycle their capital after the commencement of operations.
Tata Teleservices has offered to sell half of its stake and IDFC its entire stake in mobile tower company ATC TIPL to majority shareholder American Tower Corporation (ATC) for Rs.2,940 cr. Tata Teleservices Ltd (TTL) has also offered to pay $320 million, or around Rs.2,360 cr., to ATC Telecom Infrastructure Pvt. Ltd (ATC TIPL) for termination of lease obligations following closure of its mobile services business and its affiliates. TTL will have option to sell another 50% stake in ATC TIPL in the beginning of the next fiscal.
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