Future Ventures India Ltd, the investment and business management firm of Kishore Biyani, has once again upped its holding in edutainment media firm Amar Chitra Katha Pvt Ltd (ACK). This follows a buyback offer made by the ACK which was accepted by some shareholders and the firm extinguished those shares. Although Future Ventures did not invest afresh, its holding has bumped up to 65.84 per cent as a result of reduction in overall outstanding paid-up equity shares. Public-listed Future Ventures India said that ACK had made an offer to buy back up to 70,457 equity shares from its ...

eClerx Services Ltd, a knowledge process outsourcing (KPO) and business process outsourcing (BPO) services firm, has acquired 100 per cent stake in US-based KPO Agilyst Inc. The acquisition of the KPO firm has been done through eClerx Investments Ltd for an undisclosed amount. “The consideration for the acquisition will be all cash and includes a substantial earn-out component, based on Agilyst’s future performance,” Sequoia Capital-backed eClerx said in a statement. The deal is being funded through internal cash accruals. The deal will be EPS accretive and is expected to close in near future. Agilyst will operate as a wholly ...

Social media benchmarking company Unmetric Inc has raised $3.2 million in Series A funding led by Nexus Venture Partners. Unmetric will use the funds to continue developing its benchmarking platform, enabling companies to survey and analyze the content strategy of a brand and the key terms that are triggering customer engagement. Unmetric will also be using the round to further expand its team in the US. Headquartered in Chicago with offices in Chennai & Coimbatore, Unmetric works with clients in North America, India and other regions. It was started last September. Using a combination of advanced algorithms and human computing ...

Bangalore-based startup Insieve has raised funding led by Ojas Venture Partners, with participation from Blume Ventures as well. Although the deal amount has not been disclosed, Ojas typically makes an initial investment of $250,000-$1.5 million, with follow-on rounds cumulating to a maximum of $3 million per company. Insieve is an intelligent sharing network that understands what one shares (within your network) and recommends content based on one’s reading behaviour (as well as from the network). The capital raised will be used for product round-up (right now, it is in beta stage) and for developing go-to-market strategy ...

Chennai-based Villgro Innovation Marketing Pvt Ltd, an innovative rural distribution company, has raised a significant seed series investment from Unitus Seed Fund and a group of angel investors to further expand its operations in southern India. With the current capital infusion, Villgro plans to expand its distribution operations, increase product portfolio and build internal systems and management capability. Within the next five years, Villgro aims to improve the income of one million rural households by at least 20-30 per cent by encouraging the usage of sustainable and environment-friendly products, according to a company statement. Unitus Capital acted as a financial ...

Vienova Education Pvt Ltd, a Delhi-based affordable education provider, has raised an additional Rs 15.7 crore or approximately $3 million from Bamboo Finance who manages the Oasis Fund. The current investment follows earlier funding by the Indian Angel Network and others in 2008 and by Helion Advisors in 2011. With this round of funding, Keith Allman from Bamboo Finance joins the board of Vienova. Other board members include Helion’s Sanjeev Aggarwal, IAN’s Saurabh Srivastava and serial entrepreneur Rohit Chand. Bamboo Finance has earlier invested in the affordable hospital chain Vaatsalya and low power consuming ATM maker Vortex ...

Private-equity funds including Carlyle Group and Sequoia Capital are in separate talks to invest about $40 million to $50 million in JSM Corp, which operates the Indian franchises of Hard Rock Cafe and California Pizza Kitchen, two sources with knowledge of the matter said. JSM Corp, which runs 12 outlets across different brands, is looking to raise capital to expand its networks and operations, said the sources, who declined to be named as the discussions are not yet public. Premji Invest, the venture capital arm of Indian software services exporter Wipro, and New Silk Route, an Asia-focused private-equity firm, are ...

As FIIs unwind their positions in India in the wake of the uncertainty caused by GAAR, as domestic retail investors prefer to invest their money in gold rather than in the stock market and as rumours of a military coup make it to page 1 of the national dailies, it is easy to feel despondent about India. Seasoned FIIs tell me that India is now an “uninvestable imploding democracy.” So, is it all over for India? Is the fabled “India story” dead? The Past, Put In Proper Perspective To get a sense of India’s future at this despondency-filled hour ...

TaxiGUIDE.in, an online car rental booking service, has raised Rs 25 lakh in angel funding from Anand R P, investment director at Squadron Capital. However, Anand made this investment in his personal capacity. The Bangalore-based startup was founded in April 2010 by Ashok Ananthakrishnan, Subash Bidare and Shashibushan Venkatasubbaiah. “The capital raised will be used for expanding operations and meeting working capital requirements,” said Ananthakrishnan. We are also looking for a series A round which would be around $2 million," he told Techcircle.in. TaxiGUIDE operates as a car rental aggregator, bringing together taxi operators and retail customers on ...

The undersea cable unit of Reliance Communications has received "in principle" approval from the Singapore stock exchange for its about $1.4 billion share sale, said a source with direct knowledge of the deal, paving the way for Asia's biggest IPO this year. The unit of Reliance Communications will be listed on the Singapore exchange as a business trust and the proceeds will be used to reduce the debt of the parent, the source said, declining to be named as details are not public yet. A successful offering by the unit, which operates one of the world's largest ...

The undersea cable unit of Reliance Communications has received "in principle" approval from the Singapore stock exchange for its about $1.4 billion share sale, said a source with direct knowledge of the deal, paving the way for Asia's biggest IPO this year. The unit of Reliance Communications will be listed on the Singapore exchange as a business trust and the proceeds will be used to reduce the debt of the parent, the source said, declining to be named as details are not public yet. A successful offering by the unit, which operates one of the world's largest ...

Haresh Chawla, the former chief executive of the media conglomerate Network18, will join India Value Fund Advisors (IVFA) as a Partner from June 1, 2012. He will be responsible for building and scaling up businesses owned by IVFA across sectors, and will lead media & entertainment investments at the private equity firm which has $1.4 billion under management. IVFA, whose investment strategy leans towards control transactions, has a history of backing firms in the media and entertainment space. It has earlier invested in companies like the multiplex chain Fame Cinemas (then called Shringar Films) and animation firm DQ Entertainment. Its ...

Facebook will pay $1 billion in cash and stock for Instagram, a 2-year-old photo-sharing application developer, in its largest-ever acquisition just months before the No. 1 social media website is expected to go public. The price was stunning for an apps-maker without any significant revenue, even when measured by the lofty standards of Silicon Valley, where startup valuations have soared in recent years. It highlights the rising stakes in the social networking market in which services such as Facebook need to constantly excite consumers with new features and mobile applications. By acquiring Instagram - in a deal announced days after the ...

Bangalore-based startup YourCabs Auto Services Pvt. Ltd which runs YourCabs.com, an online cab booking service provider, has received an undisclosed amount in angel funding from Sprism Investment Pvt Ltd and an unnamed angel investor. YourCabs was founded by Rajath Kedilaya and Shishira Rudrappa in April, 2011. “The money will primarily be spent on the technology back-end and on marketing. We will also look for a bigger round of funding by the end of this year,” said Kedilaya. Sprout Capital Advisors, a Bangalore-based boutique advisory firm, mediated in the transaction. Users can search, select and book cabs (from a range ...

Mumbai-based startup ANI Technologies Pvt Ltd, which runs a marketplace for cabs and car rental service under the brand Ola, has raised series A funding from Tiger Global, a private equity firm which has been active in backing Indian e-com firms. The exact quantum of funds raised could not be immediately ascertained. When contacted, neither confirmed nor denied the development. Techcircle.in could not immediately contact Tiger Global for a response. At present, it has its operational in Mumbai and Delhi offering , regular cab service as pick and drop, similar to radio cab services provided by Meru Cabs, Quick Cabs ...

New Delhi-based startup Omnipresent Retail Pvt Ltd owned e-tailing site edabba.com has raised first round of funding of $1 million from a consortium of investors. The investors include Four-S Services Pvt Ltd besides individual investor Amit Patel ( who is also part of a jewellery company), Manoj Kumar, co-founder & CEO of  edabba told Techcircle.in. The funds raised in the current round will be used for bankrolling the expansion plans and marketing of the model, Kumar said. Launched last October, the e-commerce portal aims to bring e-tailing to the untapped market of B and C class cities with the help ...

IL&FS PE To Buy 51% In Hershey-Godrej JV - Private equity major IL&FS Investment Managers (IL&FS) has offered around $35 million or Rs 175 crore to buy out US chocolate confectionery major The Hershey Company's 51% stake in its Indian joint venture (JV) with the Godrej Group. The Godrej Group would continue to hold the remaining 49% in the company, which will go back to its original name, Godrej Beverages & Foods. The Godrej Group will go back to managing the business as it did prior to forging the JV with Hershey's. (Times of India) Snapdeal Readies ...

Singapore’s sovereign wealth fund GIC and Baring Private Equity India are investing Rs 500 crore (~ $100 million) in public listed consumer products company Marico Ltd. This comes after two months of Marico announcing a deal to buy the personal care brands, including Set Wet, Livon and Zatak among others, from Reckitt Benckiser. Although, Marico did not disclose the deal value VCCircle had estimated it to be around $100 million so the latest transaction could be to fund the acquisition. As per the deal, Indivest Pte Ltd, an investment arm of GIC is investing Rs 375 crore ($75 million) and ...

Ad network Tyroo Media Pvt Ltd has joined hands with Anurag Gupta for a management buyout of affiliate ad network DGM India for Rs 3.35 crore ($0.66 million) from Asia Digital Holdings (ADH). Of the total deal amount, Rs 2.36 crore will be paid as the first tranche. ADH is an AIM-listed firm while Gupta is the managing director of DGM India. Gupta is picking the stake for Rs 81 lakh through the entity Inflection Digital Holdings Pvt Ltd, which will own 32.79 per cent stake. Tyroo, a Gurgaon-based ad network, is picking 61.76 per ...

HMS Infotech Pvt Ltd, a technology startup offering Cloud-based SaaS (Software as a Service) solutions for small and mid-sized hospitality industry, has raised $1.2 million (Rs 6 crore) in a funding round led by venture capital firm Accel Partners. Blume Ventures and Mumbai Angels also took part in the round. Delhi-headquartered HMS Infotech was launched in 2008 by Prabhash Bhatnagar. The company’s flagship Hotelogix is a Cloud-based property management system (PMS) based on the SaaS model and offers a unified approach to meet various functions like front-desk operations, housekeeping, restaurant operations and so on. It is targeted at ...

E-commerce firm Jasper Infotech Pvt Ltd, which runs the daily deals and now horizontal e-com site Snapdeal.com, has acquired eSportsBuy.com, an online retailer of sports and fitness equipment and accessories. eSportsBuy was started in 2011 by IIT Delhi alumni Prateek Agarwal and Amit Monga. The specifics and terms of the transaction are not immediately available and when we spoke to Kunal Bahl, founder & CEO of Snapdeal, he refused to comment on it. When asked about the rationale behind the acquisition, Bahl cited the demand for sports goods and observed that eSportsBuy “has an enviable collection of sports and ...

CX Partners In Talks To Buy Future Capital - CX Partners, the private equity fund promoted by former Citigroup executive Ajay Relan, is in preliminary negotiations to acquire a controlling stake in the Kishore Biyani-controlled non-banking finance company (NBFC) Future Capital Holdings (FCH). The New Delhi-based PE firm recently held discussions with the top management of Future Capital and will shortly start due diligence. CX Partners is also exploring the possibility of pooling resources and making a joint bid with Baring Private Equity Partners (India). (Economic Times) HSBC PE, ePlanet To Exit Trivitron - HSBC Private Equity and ePlanet Capital are planning ...

CX Partners In Talks To Buy Future Capital - CX Partners, the private equity fund promoted by former Citigroup executive Ajay Relan, is in preliminary negotiations to acquire a controlling stake in the Kishore Biyani-controlled non-banking finance company (NBFC) Future Capital Holdings (FCH). The New Delhi-based PE firm recently held discussions with the top management of Future Capital and will shortly start due diligence. CX Partners is also exploring the possibility of pooling resources and making a joint bid with Baring Private Equity Partners (India). (Economic Times) HSBC PE, ePlanet To Exit Trivitron - HSBC Private Equity and ePlanet Capital are planning ...

Private equity investor TA Associates has acquired a minority stake in e-payment processing services provider BillDesk for an undisclosed amount, sources have told VCCircle. BillDesk offers online payment services for utility bills, credit card, depository account charges and ISP charges. It is part of IndiaIdeas.com, founded in early 2000 by three ex-Arthur Andersen professionals. It could not be ascertained if the deal involves a mix of fresh infusion of funds into the company and secondary purchase of shares from existing investors or a pure secondary deal. When contacted by VCCircle, BillDesk co-founder & CEO Srinivasu M N said the company ...