Today's Deals (April 23, 2018)

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Mega SEZs to spur electronics exports

Date posted: Monday 23 April 2018


In a bid to make India an export hub for electronics, the government plans to set up at least one SEZ or special economic zone in every State under the proposed electronic policy. The new policy will focus on making India an export hub. Under the new policy, which was earlier expected to be out by March 2018, the government also plans to sign free trade agreements (FTAs) with countries, including those in Africa and Europe, to which India can export smaller electronic products. It had also recommended that Costal Economic Zones (CEZs) be set up, similar to what China has done.

(The Hindu)

SoftBank-backed fintech firm True Balance raises $23 million bridge round

Date posted: Monday 23 April 2018

Gurgaon-based digital payments firm True Balance has raised $23 million in a bridge round from a clutch of foreign institutional investors. The company is now planning to offer multiple payment options, including bill payments and recharges. The move follows True Balance receiving a digital wallet license from the Reserve Bank of India.

(DealStreet Asia)

Online beauty retailer Nykaa raises Rs.75 cr. funding

Date posted: Monday 23 April 2018

Online beauty retailer Nykaa has raised Rs.75 cr. (above $11 million) in its latest round of funding. The total capital raised by the firm stands at about Rs.255 cr. For Nykaa, a large part of the focus will be on expanding its offline presence from 17 stores currently to about 55 stores by FY19-end. The funds will also be used to enhance retail distribution so as to boost its private label, which currently forms less than 10% of the revenue pie.

(ET Tech)

Twitter’s Biz Stone invests in Delhi-based healthcare startup Visit

Date posted: Monday 23 April 2018

Twitter Inc. co-founder Biz Stone has invested in his “personal capacity” in a Delhi-based health startup that uses an artificial intelligence-based bot in its app as he wants to contribute to a future where AI is seen as a “positive enhancement of humanity”. Visit is an on-demand healthcare service online platform which provides its users a pool of medical specialists and general physicians to choose from for consultation.

(Live Mint)

100 bankers said no to Razorpay before one finally backed it

Date posted: Monday 23 April 2018

Before Harshil Mathur and Shashank Kumar started their payment gateway platform Razorpay, they had to hear the word ‘no’ from 100 bankers.  With $20 million in funding in a recent round, primarily from Tiger Global, they plan to double their 150-member team this year. The company has grown 1200% in terms of revenue in the past year and processes around eight lakh transactions daily.

(ET Tech)

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