Hospitality Company OYO has acquired Weddingz, an online marketplace for wedding venues and vendors, in a cash-and-stock deal, making it the SoftBank-backed company’s third buyout in six months. The financial terms of the transaction were not disclosed.
Last Week's Deals
Startup incubator Venture Catalysts has made a pre-Series A round of funding worth $1 million in Gurugram-based Try & Buy Fashions. Try & Buy Fashions aims to bring online shopping as close to the offline experience as possible by allowing trying and buying of apparel through virtual stylists and virtual trial rooms.
One97 Communications Ltd, the parent of digital payments company Paytm, and Alibaba Group-owned gaming and entertainment company AGTech Holdings Ltd have infused $16 million into their mobile gaming joint venture, Gamepind Entertainment Pvt. Ltd. While AGTech owns 45% in the gaming platform, One97 Communications holds a 55% stake.
ShopClues, run by Clues Network Pvt. Ltd, has raised about Rs.110 cr., its co-founder Sanjay Sethi said, even as the struggling marketplace seeks to preserve cash and scout for a buyer. For now, the Gurugram-based company, which has seen a drop in daily orders in the last two months, is depending on new initiatives for monetization.
Homegrown private equity firm True North has entered into an agreement to acquire Glenmark Pharmaceuticals Ltd’s orthopaedic and pain management business for India and Nepal markets in a deal valued at about $92 million (Rs.635 cr.). Under the collaboration, Glenmark’s orthopaedic and pain management business will be transferred to a new entity to be incorporated by True North. The new entity – expected to be named Integrace Private Ltd – will market the product portfolio in India and Nepal.
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