Online marketplace Nagpur Wholesale has raised Rs.1 cr. ($143,000) in a seed round of funding from Omphalos Ventures India LLP. The startup, operated by Qualipros Technologies Pvt. Ltd, will use the capital to hire personnel in various departments.
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Guiddoo raises around Rs.6 cr. in the Pre-Series A funding led by global investors including Rennie Ratadia (Singapore), Stephen Dmello (Dubai) & Angshuman Sarkar (India). The travel experience provider plans to use the fresh funding to expand operations, increase destination reach, product portfolio and to further develop its technology platform. The company also aims to start China operations by Feb 2019.
Cybersecurity startup CloudSEK has raised $2 million in a pre-Series A round lead by Exfinity Venture Partner and Startup Speed. The startup’s AI-based cyber risk management product XVigil uses real-time data for detection and prevention of cyber threats. It is currently used by fintech and e-commerce companies.
Infibeam Avenues Ltd has made strategic investment in Mumbai based Instant Global Paytech Private Ltd (IGPL) to build next generation payment technology platform for offline merchants & retailers transactions in tier II & Tier III cities.
Unilever Plc agreed to take over GlaxoSmithKline Plc’s nutrition business and then merge their Indian units in a deal worth £3.1 billion or $3.8 billion. The deal involves the merger of GSK Consumer Healthcare Ltd. with Hindustan Unilever Ltd. The transaction values the total business of GSK Consumer Healthcare at Rs.31,700 crore. The deal is expected to be completed in one year subject to regulatory and shareholder approvals.
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